Jobless rate rises to 9.8 pct. as job growth slows

[tobee43]

December 3, 2010

The nation's unemployment rate climbed to 9.8 percent in November, a seven-month high, as hiring slowed.

Employers added only 39,000 jobs last month, a sharp decline from the 172,000 created in October, the Labor Department reported Friday. The weakness was widespread. Retailers, factories, construction companies, financial firms and the government all cut jobs last month.

Many economists were predicting the addition of nearly 150,000 jobs. The economy has recently flashed signs of gaining momentum with busier factories, rising auto sales and a good start to the holiday shopping season. But that didn't translate into mass hiring in November.

In fact, private companies — the backbone of the economy — created 50,000 jobs. That was down significantly from the 160,000 private-sector jobs created in October and was the smallest gain since January.

With hiring so weak, the unemployment rate rose from 9.6 percent to 9.8 percent. The jobless rate has now topped 9 percent for 19 straight months, the longest stretch on record.

All told there were 15.1 million people unemployed in November.

Adding those unemployed people to others who are working part time but would prefer full-time jobs and those who have given up looking for work, 17 percent of the labor force is "underemployed." That was the same as October. Still, the figure remains close to a record high set last year.

Another grim figure: There was a record 1.3 million "discouraged" workers in November. Those are persons not currently looking for work because they believe no jobs are available to them.

http://www.gouverneurtimes.com/gt-world-national-article/23861-jobless-rate-rises-to-98-pct-as-job-growth-slows-.html

[tobee43]

i think i got it!!!!!! i hope...i tried read the rules

now one to the topic....of course right before Christmas..it's just terrible and i can't imagine what's going to happen with some of the companies running on a annual year come jan...just how many more people will be laid off???

[helpme2010]

Yikes, I don't want to get into that real unemployment number debate again, but the scary part will be how many people who have been unemployed longer than a year or two years, how long will they remain unemployed (especially as more people join the list). I watch people being interviewed, a lady today for example who was a teacher and an IT specialist being out of work for a couple years now and not even McDonalds will interview her.

Oh crap, here we go with the lesson this lady failed to follow: She should have gone out and earned her doctorate at Burger University, with at least a 3.8 GPA. I was ashamed of her, she complained that her unemployment benefits were cut off, so she placed the priority of just finding a way to put food on her families table over going to Burger University so McDonalds would finally consider interviewing her. How selfish can a human being be???

[tobee43]

and you know help me...i just had to post it...because it came out today after this last round of lay offs...


locally for us...seaworld just did a lay off....and attempting to down play it...who's next in line. and, i know they are lying to us about retail sales etc., like someone thinks if we hear everyone is going out there and buying and buying we'll do it as well.

it was funny...actually NOT funny, as we were driving up to north carolina for the thanksgiving holiday we were hearing all the news stations saying...."and it is expected that 50% of ALL AMERICANS will go out shopping on black friday"....WHAT?? are they nuts or drunk!!

[helpme2010]

and you know help me...i just had to post it...because it came out today after this last round of lay offs...


locally for us...seaworld just did a lay off....and attempting to down play it...who's next in line. and, i know they are lying to us about retail sales etc., like someone thinks if we hear everyone is going out there and buying and buying we'll do it as well.

it was funny...actually NOT funny, as we were driving up to north carolina for the thanksgiving holiday we were hearing all the news stations saying...."and it is expected that 50% of ALL AMERICANS will go out shopping on black friday"....WHAT?? are they nuts or drunk!!

tobee, it amazes me when my girlfriend and I go to the malls how much people are buying, especially when a sale is announced. We also live within driving distance near some rich cities where you would swear there is zero recession. I watch people buying $500 shoes, I look at clothes that are selling for say $2,000 for an ordinary dress or $400 for a t-shirt. I nearly pass out on visits to Beverly Hills or to mall stores like Macy's and Nordstroms.

This year I asked my family for gift cards, to places like Walmart and Target so I can buy groceries and needed supplies. I can only imagine those rich housewives that spend thousands at a time on shopping sprees for items they will just stick in their closet and probably never wear more than one time. I watched this lady buy a french bulldog for $1,500 the other day at the dog store at the mall (she already has another dog just like it). I was thinking, what the heck does she do for a living to pick up a second dog that is this expensive during a recession?

I always ask myself, what do these people do for a living?

[tobee43]

tobee, it amazes me when my girlfriend and I go to the malls how much people are buying, especially when a sale is announced. We also live within driving distance near some rich cities where you would swear there is zero recession. I watch people buying $500 shoes, I look at clothes that are selling for say $2,000 for an ordinary dress or $400 for a t-shirt. I nearly pass out on visits to Beverly Hills or to mall stores like Macy's and Nordstroms.

This year I asked my family for gift cards, to places like Walmart and Target so I can buy groceries and needed supplies. I can only imagine those rich housewives that spend thousands at a time on shopping sprees for items they will just stick in their closet and probably never wear more than one time. I watched this lady buy a french bulldog for $1,500 the other day at the dog store at the mall (she already has another dog just like it). I was thinking, what the heck does she do for a living to pick up a second dog that is this expensive during a recession?

I always ask myself, what do these people do for a living?

we seem to ask the same question...yesterday we had to go to an area we never had been to yet since we moved here....these homes had to be millions of dollars...and while we are passing by i'm seeing hired help putting "lights" and Christmas decor all around the front of the house...and i'm thinking they are most likely paying that guy more than we make in a month just to hand the lights up...or more than we are going to spend on our entire Christmas altogether!

don't get me wrong...i do not begrudge anyone one what they have worked so hard to get what they have. but now a days i even feel that we just had our priorities so mess up....

less than 48 hours ago we found out my sister the picture of health...a successful atty her husband is a superior court judge...( my brother is as well).... my poor sister now needs an immediate liver transplant....she's #1 on the list....all their success and money cannot help...i did offer part of my liver, but they can't use it they said....so our entire lives have changed in the past few days...i know if you looked at my sisters home from the outside it would have been one of the those situation we asked what could they possibly do for a living to live in that home....however, we now realize how little any of that REALLY matters.

[helpme2010]

Wow tobee, I see what you mean. I believe everyone has problems with their lives, some more serious than others and from anothers point of view ours may not seem as bad as theirs. Health is one of those that probably tops the list as your sisters situation points out. I hope she gets her transplant asap.

I am happy for those that have money and can afford the finer things in life. Those that are spending are helping the economy as well. It does blow my mind away when I see people spending on an insane level and I just think that I can barely afford the basic essentials of survival. Oh well, one day I look forward to having money and spending, but the last decade has made me a permanent frugal spender for the rest of my life, thats for sure!!!

[tobee43]

Wow tobee, I see what you mean. I believe everyone has problems with their lives, some more serious than others and from anothers point of view ours may not seem as bad as theirs. Health is one of those that probably tops the list as your sisters situation points out. I hope she gets her transplant asap.

I am happy for those that have money and can afford the finer things in life. Those that are spending are helping the economy as well. It does blow my mind away when I see people spending on an insane level and I just think that I can barely afford the basic essentials of survival. Oh well, one day I look forward to having money and spending, but the last decade has made me a permanent frugal spender for the rest of my life, thats for sure!!!

thanks so much for your kind wishes...i know or feel or pray it will be alright for her....but it certainly does put things in are really important to us stand up loud and clear.

there is always going to be that faction of the population unseemly untouched by ant economical crisis....and we as you just have enough for the essentials and at some times not even...but we make due!

[WhatMoney]

The official November national unemployment rates from the BLS, including ALL their U-1 to U-6 rates, are here:

http://www.bls.gov/news.release/empsit.t15.htm

[tobee43]

The official November national unemployment rates from the BLS, including ALL their U-1 to U-6 rates, are here:

http://www.bls.gov/news.release/empsit.t15.htm

thanks!

[helpme2010]

The official November national unemployment rates from the BLS, including ALL their U-1 to U-6 rates, are here:

http://www.bls.gov/news.release/empsit.t15.htm

Thanks whatmoney, that is the 17% I was trying to refer to in my other posts. Thanks for pulling that up.

Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force

[jjim120]

tobee, My deepest sympathy for your sister's health issues; If a donor will save your sister's life, I will pray for that to happen. i do hope that, as a successful attorney, and her husband a judge, that they have been among the few ethical attorneys left that believe in innocent until proven guilty rather than using their considerable influence and power to destroy the individuals and small businesses that create jobs in this country.

Despite what many seem to think, the 17%-18% unemployment and underemployment rate and the massive home foreclosure rate are primarily the result of over-extension by consumers, but deregulation of the banking industry and the deliberate misuse of power by the big banks and the US Treasury. I believe that, if banks had been required to use the TARP funding provided by Congress to shore up existing loans rather than use their 'at will" power to call good loans, many of these bankruptcies and foreclosures could have been avoided and this depression would not have cut so deeply.

Good businesses that took the risks necessary to create jobs have been destroyed and will not come back any time soon. As long as government policy favors and protects the top, as long as the legal system protects and harbors the white collar criminals that loot their own banks and clients for personal gain, small business cannot survive. Today's legal system is completely controlled by money interests, and the leading method of big law firms is to force the opponent into bankruptcy and making deals with judges to keep them out of court.

[tobee43]

tobee, My deepest sympathy for your sister's health issues; If a donor will save your sister's life, I will pray for that to happen. i do hope that, as a successful attorney, and her husband a judge, that they have been among the few ethical attorneys left that believe in innocent until proven guilty rather than using their considerable influence and power to destroy the individuals and small businesses that create jobs in this country.

Despite what many seem to think, the 17%-18% unemployment and underemployment rate and the massive home foreclosure rate are primarily the result of over-extension by consumers, but deregulation of the banking industry and the deliberate misuse of power by the big banks and the US Treasury. I believe that, if banks had been required to use the TARP funding provided by Congress to shore up existing loans rather than use their 'at will" power to call good loans, many of these bankruptcies and foreclosures could have been avoided and this depression would not have cut so deeply.

Good businesses that took the risks necessary to create jobs have been destroyed and will not come back any time soon. As long as government policy favors and protects the top, as long as the legal system protects and harbors the white collar criminals that loot their own banks and clients for personal gain, small business cannot survive. Today's legal system is completely controlled by money interests, and the leading method of big law firms is to force the opponent into bankruptcy and making deals with judges to keep them out of court.

first jjim thank you so kindly for your well wishes.....i am so happy to report, my sister is doing just fine.....i was on my way to donate part of my liver, the first text message we rec'd off the plane ...was...she got one...(we were in shock when we found out this was the 3rd attempt in as many weeks)...however, this one seems to have taken!!! of course what one does for a living should never be a criteria for anything, but two see such honest loving hard working individuals and their kids ...and i guess us ( a very selfish point i know)....go through this...it just shows life is many times not fair and we must just deal with the hand we are given. for now...all is peaceful and hopefully it will continue....thanks again..


now....you got that right...about the polices and only really caring about the "top".....

i really think that is such an excellent point :

Good businesses that took the risks necessary to create jobs have been destroyed and will not come back any time soon. As long as government policy favors and protects the top, as long as the legal system protects and harbors the white collar criminals that loot their own banks and clients for personal gain, small business cannot survive. Today's legal system is completely controlled by money interests, and the leading method of big law firms is to force the opponent into bankruptcy and making deals with judges to keep them out of court.

i'm just feeling at this juncture there is no way out very soon....