Enjoy an Ads-Free Jets Insider - Become a Jets Insider VIP!
Page 1 of 2 12 LastLast
Results 1 to 20 of 25

Thread: 250,000 New November Jobs Due To Election Of President Mitt Romney!

  1. #1
    All League
    Join Date
    Apr 2003
    Posts
    2,845
    Post Thanks / Like

    250,000 New November Jobs Due To Election Of President Mitt Romney!

    Un, no!

    Only a paltry 146,000 new jobs for November and the unemployment rate went down due to unemployed Americans giving up finding a job. But the report beat economists expectations of a pathetically low 140,000 new jobs. Isn't it just great having a Democrat re-elected to the White House?

    http://www.nytimes.com/2012/12/08/bu...sLTmurib6ly6IQ

    U.S. Adds 146,000 Jobs; Jobless Rate Falls to 7.7%

    By NELSON D. SCHWARTZ
    December 7, 2012

    Shaking off the effects of Hurricane Sandy and the looming fiscal impasse in Washington, the economy created 146,000 jobs in November, well above the level economists had been expecting.

    The report released Friday by the Labor Department also showed the unemployment rate fell to 7.7 percent, the lowest level in four years. But the drop came largely from a decline in the number of people seeking work and counted as officially unemployed.

    Among specific industries, the retail sector was especially healthy, adding 53,000 jobs as the holiday shopping season approached. In the last three months, retail employment has increased by 140,000.

    One notable point of weakness was the manufacturing sector, which lost 7,000 jobs in the month. Demand from Europe and other overseas markets has weakened recently, while some manufacturing companies have held off on spending as political leaders square off in Washington over how to cut the deficit.

    The Labor Department revised job growth in previous months downward somewhat. October growth fell to 138,000 from an initial estimate 171,000, and September’s declined to 132,000 from 148,000. Average hourly earnings in November rose 0.2 percent, the report showed.

    By the widest measure of joblessness, unemployment also eased slightly: after factoring in people looking for work as well as those forced to take part-time positions because full-time work wasn’t available, the total unemployed fell to 14.4 percent in November from 14.6 percent in October.

    The report for November was relatively strong, economists said, and showed fewer effects from Hurricane Sandy that had been expected. In Friday’s announcement, the Bureau of Labor Statistics said the storm did “not substantively impact the national employment and unemployment estimates for November.”

    Ethan Harris, co-head of global economics at Bank of America of Merrill Lynch, said, “It’s a pretty solid report. It’s consistent with a slow recovery in the job market.”

    “It’s encouraging that with the fiscal cliff looming, the corporate sector seems willing to hire even with the worries about what’s going in Washington,” Mr. Harris said.

    If the budget impasse can’t be resolved this month, however, it’s likely that jobs growth will weaken early next year, he added. “The fiscal cliff is a very dangerous game,” he said.

    Indeed, other economists remained cautious about the jobs outlook.

    “It’s not something to get too excited about,” said Nigel Gault, chief United States economist for IHS Global Insight. “The number is 146,000 and the average so far this year is 151,000. We’re pretty much in line with what we’ve been doing.”

    Mr. Gault said Hurricane Sandy’s impact may have been seen in construction, where the number of jobs fell by 20,000, as well as in manufacturing.

    The labor participation rate, which represents the proportion of the adult population that is either employed or actively looking for work, remains very low by historical standards.

    At 63.6 percent in November, Mr. Gault said, it was just 0.1 percent above the low point for the current economic cycle, which was reached in August 2012.

    “We’re not at the point in which the jobs market is strong enough to pull discouraged workers back into the labor market," he said.

  2. #2
    Banned
    Join Date
    Jul 2009
    Location
    The Big Apple, USA
    Posts
    22,030
    Post Thanks / Like
    32 consecutive months of job growth and the ununemployment rate drops again

    Thank you President Obama for your continuing efforts to drive the nation out of the massive ditch created by eight abysmal years of GOP wars and idiotic invasions, GOP failed trickle down economics and GOP corporate and banking deregulation.

    Keep opening that can of whoopass on those teabaggers



    Sent from my SGH-T999 using Tapatalk 2

  3. #3
    JetsInsider.com Legend
    Join Date
    Jan 2004
    Posts
    36,654
    Post Thanks / Like
    Quote Originally Posted by sg3 View Post
    Thank you President Obama for your continuing efforts...
    What "efforts" specificly?

    More jobs is good news. Crediting those jobs to Obama without citing what and how he created them (hint, "he" didn't create them) is just silly politics.

    And just as an addition, "Teabaggers" aren't anti-private sector Jobs, so more of them is in no way a "kickass" to them. Just so you know, saying such is like telling a Pats Fan how much they got their ass kicked because the Seahawks beat the Bears.

  4. #4
    All League
    Join Date
    Apr 2009
    Posts
    4,850
    Post Thanks / Like
    Quote Originally Posted by sg3 View Post
    32 consecutive months of job growth and the ununemployment rate drops again

    Thank you President Obama for your continuing efforts to drive the nation out of the massive ditch created by eight abysmal years of GOP wars and idiotic invasions, GOP failed trickle down economics and GOP corporate and banking deregulation.

    Keep opening that can of whoopass on those teabaggers



    Sent from my SGH-T999 using Tapatalk 2

    Stop being intellectually lazy. Unemployment can't really go down with only 146K jobs. People are leaving the work force. Unemployment (though not collecting) is up. And new jobs in previous months revised downward. Hmmm. Inflated numbers by the labor department? That can't happen, right. Unemployment is STILL higher than with GWB. And he has accumulated more debt in 4 years than Bush in 8 - by far.
    Now he wants 'Pharoah powers" just like his buddy in Egypt. Or will it be "Powers of the Caliph - if Allah wills it".

  5. #5
    All League
    Join Date
    Apr 2003
    Posts
    2,845
    Post Thanks / Like
    News Flash: This jobs report SUCKS!!!!!! We have an idiot in the White House and American businesses have no faith in him.

    The national unemployment rate goes down because people can't find jobs so they quit looking? Obama voters think this is actually good? Are you freakin' kidding me?

    Republicans better start focusing on the mid-term elections of 2014. They need to keep the US House of Representatives and win control of the US Senate.

    Otherwise, we are completely SCREWED with this complete teleprompter dependent imbecile in the White House.


  6. #6
    JetsInsider.com Legend
    Join Date
    Mar 2005
    Posts
    49,651
    Post Thanks / Like
    So is the point that the jobs report would have been better, before Romney even took office?

    Magic underpants indeed.

  7. #7
    Banned
    Join Date
    Jul 2009
    Location
    The Big Apple, USA
    Posts
    22,030
    Post Thanks / Like
    Quote Originally Posted by AlbanyJet View Post
    News Flash: This jobs report SUCKS!!!!!! We have an idiot in the White House and American businesses have no faith in him.

    The national unemployment rate goes down because people can't find jobs so they quit looking? Obama voters think this is actually good? Are you freakin' kidding me?

    Republicans better start focusing on the mid-term elections of 2014. They need to keep the US House of Representatives and win control of the US Senate.

    Otherwise, we are completely SCREWED with this complete teleprompter dependent imbecile in the White House.

    Actually the point is that Bush took a half billion dollar surplus, the best employment figures in decade and relative prosperity and using proven teabagger party dogmatic principles took America into two idiotic foreign adventures to hunt down and smoke out Bin Laden and the closest we came to an economic depression since the 1930s

    Thankfully President Obama was big enough for this Herculean cleanup effort and has gotten the US economy moving forward, added millions of good paying jobs, saved the nearly collapsed auto and financial sectors, will have ended both moronic Bush wars by 2014 and....oh yes...I almost forgot...managed to get Bin Laden (and as a bonus Quadaffy) hunted down and smoked out at a cost of ZERO American servicemen' s lives

    YUP all hail President Romney...





    Sent from my SGH-T999 using Tapatalk 2

  8. #8
    Banned
    Join Date
    Jun 2012
    Posts
    576
    Post Thanks / Like
    Who's Mitt Romney? Sounds familiar, but I can't put a face to the name.

  9. #9
    All League
    Join Date
    Apr 2003
    Posts
    2,845
    Post Thanks / Like

  10. #10
    Banned
    Join Date
    Jul 2009
    Location
    The Big Apple, USA
    Posts
    22,030
    Post Thanks / Like
    Quote Originally Posted by AlbanyJet View Post
    As long as you don't lose your Newsmax subscription in that calamity youll be happy and self content




    Sent from my SGH-T999 using Tapatalk 2

  11. #11
    All League
    Join Date
    Apr 2003
    Posts
    2,845
    Post Thanks / Like
    I'd just love to hear an Obama voter explain what happens all the unemployed who give up looking for jobs that aren't there. Do they disappear? Do they become homeless? What?

    http://news.investors.com/ibd-editor...ary-levels.htm


    'Bullish' November Data Mask An Ugly Truth About Jobs


    Economy: A rip-roarer for job creation and a major drop in the unemployment rate. At least, that's how the mainstream media sum up November's job numbers. But scratch the data and a different story surfaces.

    A lot of pundits thought the November jobs data were pretty good, with 146,000 new jobs and a drop in unemployment to 7.7%. But look closer, and you see recession mode.

    With nonfarm payrolls swelling by 146,000 and the jobless rate easing from 7.9% to 7.7%, November looked pretty good to many pundits. But the underlying trends aren't so favorable, and the future, with a slowing economy about to drive off a fiscal cliff, isn't bright at all.

    Start with payroll jobs. The 146,000 wasn't awful, but to make a serious dent in joblessness, we need to add at least 200,000 a month for a prolonged period. In this poisoned atmosphere for business, that won't happen.

    Since 2011, businesses have added about 151,000 jobs a month. But since June that's slowed to just 139,000. We're clearly going the wrong way.


    And by the way, remember those big payroll gains in September and October, right before the election? Forget it. The Labor Department has revised down its job estimates for those two months by 49,000.

    OK, but we still have private-sector job growth, right? Not really. In the last six months, 621,000 of the 847,000 new jobs created have been in government, not the private sector, according to CNSNews.com. That's 73% of all jobs — not a healthy labor market.

    As for that big "drop" in the unemployment rate, all of it was due to the fact that 540,000 Americans are no longer looking for work. They either dropped out, took early disability or retired. Since the start of 2009, 9.7 million Americans have fallen into this category.

    All told, more than 24 million Americans who want jobs don't have them, driving the labor force participation rate to 63.6%, just above August's 31-year low of 63.5%. This is the worst labor market in a recovery ever.

    And it may get worse. The quarterly Wells Fargo/Gallup small-business survey found that 21% plan to cut jobs over the next six months — a surge from 10% last June and a record high.

    IBD's own research shows that small businesses account for nearly 80% of all new job creation in America. A small-business slump means no jobs. It's that simple.

    Why is the labor market refusing to recover as it has in the past, with millions of new jobs each year amid rapid economic growth? In a word, Obamanomics.

    Thanks to ObamaCare, "stimulus" spending of $860 billion, threats of higher tax rates on small business owners and entrepreneurs, the economy's going nowhere. We may soon enter a new small-business recession that can be blamed on no one but Barack Obama.

  12. #12
    JetsInsider.com Legend
    Join Date
    Mar 2005
    Posts
    49,651
    Post Thanks / Like
    Quote Originally Posted by AlbanyJet View Post
    I'd just love to hear an Obama voter explain what happens all the unemployed who give up looking for jobs that aren't there. Do they disappear? Do they become homeless? What?
    I would guess what happens to them is the same thing that would happened to them under a Romney administration.

  13. #13
    All Pro
    Join Date
    Jan 2012
    Posts
    6,900
    Post Thanks / Like
    The whole "the unemployment rate is only going down cuz people stop looking for a job" argument is ALWAYS used by whatever party isn't in the White House. Conservatives used it in the 90's when Clinton was President and the economy was doing great, Dems used it in the 2000's when the economy was propped up by the housing bubble and 2 wars.


    It's a bs argument. People are actually looking for and getting work. Economies go through cycles we hit bottom in 2008 and now are in the upswing.

  14. #14
    All League
    Join Date
    Feb 2005
    Posts
    4,733
    Post Thanks / Like
    How about the 30,000 or so who stopped looking. Just wait till they revise the numbers next month.

  15. #15
    Jets Insider VIP
    Join Date
    May 2004
    Location
    New Jersey
    Posts
    6,036
    Post Thanks / Like
    Quote Originally Posted by detjetsfan View Post
    The whole "the unemployment rate is only going down cuz people stop looking for a job" argument is ALWAYS used by whatever party isn't in the White House. Conservatives used it in the 90's when Clinton was President and the economy was doing great, Dems used it in the 2000's when the economy was propped up by the housing bubble and 2 wars.


    It's a bs argument. People are actually looking for and getting work. Economies go through cycles we hit bottom in 2008 and now are in the upswing.
    It is how the number is calculated so it isn't a bs argument.

  16. #16
    Hall Of Fame
    Join Date
    Nov 2004
    Location
    LI
    Posts
    19,613
    Post Thanks / Like
    Quote Originally Posted by sg3 View Post
    Actually the point is that Bush took a half billion dollar surplus, the best employment figures in decade and relative prosperity and using proven teabagger party dogmatic principles took America into two idiotic foreign adventures to hunt down and smoke out Bin Laden and the closest we came to an economic depression since the 1930s

    Thankfully President Obama was big enough for this Herculean cleanup effort and has gotten the US economy moving forward, added millions of good paying jobs, saved the nearly collapsed auto and financial sectors, will have ended both moronic Bush wars by 2014 and....oh yes...I almost forgot...managed to get Bin Laden (and as a bonus Quadaffy) hunted down and smoked out at a cost of ZERO American servicemen' s lives

    YUP all hail President Romney...





    Sent from my SGH-T999 using Tapatalk 2
    Monumentally stupid post for ignoring facts and further spinning ultraleftist drivel.

    Your parents must be proud.

  17. #17
    All Pro
    Join Date
    Jan 2012
    Posts
    6,900
    Post Thanks / Like
    Quote Originally Posted by Trades View Post
    It is how the number is calculated so it isn't a bs argument.
    It is a bs argument when conservatives automatically dismiss 250,000 new jobs as being people who stopped looking for work. If Romney won the election they'd be chest thumping right now saying "look, we elected a pro-business conservative and look at the 250,000 jobs created"

  18. #18
    Hall Of Fame
    Join Date
    Feb 2006
    Location
    Van down by the river
    Posts
    21,929
    Post Thanks / Like
    Love that people post in this thread during working hours. LMAO!!

    Working "hard".

  19. #19
    Jets Insider VIP
    Join Date
    May 2004
    Location
    New Jersey
    Posts
    6,036
    Post Thanks / Like
    Quote Originally Posted by PlumberKhan View Post
    Love that people post in this thread during working hours. LMAO!!

    Working "hard".
    Why do you assume that the hours you work are the hours that everyone else does?

  20. #20
    Jets Insider VIP
    Join Date
    May 2004
    Location
    New Jersey
    Posts
    6,036
    Post Thanks / Like
    Quote Originally Posted by detjetsfan View Post
    It is a bs argument when conservatives automatically dismiss 250,000 new jobs as being people who stopped looking for work. If Romney won the election they'd be chest thumping right now saying "look, we elected a pro-business conservative and look at the 250,000 jobs created"

    not sure where you are getting 250,000 jobs from. The reported number is 146,000. Second no one is dismissing the jobs, they are pointing to a smaller unemployment rate which is deceiving. The problem is that they don't count everyone in the unemployment rate just those that are actively looking and collecting. Once you are unemployed for a certain amount of time you are dropped from the count which is where the more important number of the workforce participation percentage comes from because that is very low as the OP points out.

    The labor participation rate, which represents the proportion of the adult population that is either employed or actively looking for work, remains very low by historical standards.

    At 63.6 percent in November, Mr. Gault said, it was just 0.1 percent above the low point for the current economic cycle, which was reached in August 2012.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Follow Us