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Title: December jobs report: Unemployment falls to 9.4%
Source:
CNN Money
URL Source: http://money.cnn.com/2011/01/07/new ... port/index.htm?hpt=T1&iref=BN1
Published: Jan 7, 2011
Author: CNN Money
Post Date: 2011-01-07 09:03:20 by go65
Keywords: None
Views: 4549
Comments: 9
NEW YORK (CNNMoney) -- The U.S. economy added 103,000 jobs in December, and the unemployment rate unexpectedly fell to 9.4% -- its lowest level since May 2009, the Labor Department reported Friday. Businesses were hiring, adding 113,000 jobs to payrolls in the month. But the government continued to shed staff, cutting 10,000 workers from payrolls. But the two previous months were better than originally thought. November was revised up to 71,000, while October was revised to 210,000, adding a combined 70,000 jobs to the 2010 total. Economists surveyed by CNNMoney had forecast 150,000 jobs added during December, and 100,000 for November's revision. Many economists boosted their predictions earlier in the week, after private payroll processor ADP released a shockingly strong report Wednesday, showing private employers added 297,000 jobs to their payrolls. That report is often seen as a bellwether for the government report that follows. While the latest data brings hope for 2011, economists still caution that job gains will be gradual at best. There's still a long way to go to recover the 8.5 million jobs lost since the Great Recession began. The labor market typically needs at least 300,000 to make a difference in the unemployment rate, economists say. Anything less than that is just barely enough to keep pace with population growth. Overall, the economy rounded out 2010 with 1.1 million jobs added, the best one-year gain in hiring since 2007.
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#1. To: no gnu taxes, badeye, lucysmom, fred mertz, buckaroo, sneakypete, brian s, skip intro (#0)
the conservative recovery continues....
Since January 3, 2011, Republicans have controlled the power of the purse.
Bull Shit. With Only this. Not even looked at the 'inside' of the BLS agit/prop yet. How do you top out for a year at 9.8%, with job losses ALL year. Then the first time we get ANY kind of 'addition'(I still don;t believe it;} the rate drops .4%. Details within 12 hours. Truth just getting it's pants on. Which, BTW, did you note how the MSM came out promoting this number beforehand? That Bloomberg had a Positive statement in RED BEFORE thenumbers were posted!? 8D
we haven't had job losses all year, over 1 million private sector jobs were created in 2010 (more than in 8 years of Bush). Since January 3, 2011, Republicans have controlled the power of the purse.
Before I reply I want to make sure you're serious. I'm waiting for you to post. Thank you.
Well, I guess you were being funny, putting up the BLS Lies as a joke. Here's not a joke: ZeroHedge: We are confident that in 2011 the MOVE bond vol index will be far more relevant that then the VIX, and that 200 pip daily moves in key FX pairs such as the EURUSD will be a normal occurrence. As validation of the first, just after the NFP number was announced, it was not US stocks, but the massive German treasury market that was HALTED due to a surge in volatility. This bears repeating: the massive, presumably liquid, and critical sovereign debt market of Europe's biggest economy was HALTED ! We look forward to many more such examples of connected vessels, as computer, robots and the few remaining homo sapiens traders, pursue only modestly manipulated markets in which to trade volatility.
With Peak Oil in May 2005 Economic Growth is now no longer possible: " This "income is all" rule has been mostly obscured in recent decades during which globalized foreign trade promoted by neo-liberals has pre-empted domestic development as the engine of economic growth in all market economies around the world. In today's game of globalized international trade, the new operative rule is that "profit is all" and that high profit in competitive export trade requires low domestic wages, even if low local wages retard domestic economic development by reducing aggregate purchasing power in the domestic market to cause overcapacity that relies on exports. As workers' wages are not sufficient to buy the goods they produce, domestic markets fall into underdevelopment and export to high-wage economies is needed to produce profit for companies. "
This new rule of globalized trade is designed to produce short-term maximization of corporate profit for an export sector. But in the post industrial finance economy, the export sectors in low-wage economies are largely owned or financed by cross-border international capital. This type of international trade incurs inevitable long-term stagnation in the domestic economies of all trading nations because the low wages paid by international capital lead to insufficient aggregate domestic consumer demand. Stagnant wages everywhere in turn reduce aggregate global purchasing power needed for the expansion of international trade. It is a clear case of imbalanced economic sub-optimization. At 1544 the Baltic Dry is now crashing thru EVERY tech trend line. On the way to the Mar/Apr 09 Low. Meaning there is no Global Trade occuring now. Collapse by the end of the month.
I know the economy is improving because the illegal alien 3rd world workers are starting to show up again. They were all over the place when construction was booming,and there was even a Spanish language radio station and newspaper. Then all of a sudden both went out of business,all the house trailers with 20 to 30 illegals sleeping in vans in the yard became vacant,and you would never hear Spanish in the grocery store anymore. Until last week. I am starting to see them showing up in the grocery store again.
"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)
{{{chuckle}}}
Never swear "allegiance" to anything other than the 'right to change your mind'!
Businesses were hiring, adding 113,000 jobs to payrolls in the month. But the government continued to shed staff, cutting 10,000 workers from payrolls.
#2. To: go65 (#1)
#3. To: mcgowanjm (#2)
(Edited)
How do you top out for a year at 9.8%, with job losses ALL year.
#4. To: go65 (#3)
we haven't had job losses all year, over 1 million private sector jobs were created in 2010 (more than in 8 years of Bush).
#5. To: All (#4)
(Edited)
Before I reply I want to make sure you're serious.
#6. To: All (#5)
#7. To: All (#6)
#8. To: go65 (#1)
#9. To: go65, *Obamanomics On Parade* (#1)
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