November jobs report: 146,000 jobs added, jobless rate drops to 7.7%, workforce declines again

posted at 8:36 am on December 7, 2012 by Ed Morrissey

The US got a better November than some had expected in the job markets — but only in the top line numbers.  The economy added 146,000 jobs, better than expected if still a status quo result, and the jobless rate declined to 7.7%.  The Bureau of Labor Statistics reported that Hurricane Sandy ended up having little impact on employment over the month. However, the work force declined again and drifted back to generational-low numbers:

Total nonfarm payroll employment rose by 146,000 in November, and the unemployment rate edged down to 7.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in retail trade, professional and business services, and health care.

Hurricane Sandy made landfall on the Northeast coast on October 29th, causing severe damage in some states. Nevertheless, our survey response rates in the affected |states were within normal ranges. Our analysis suggests that Hurricane Sandy did not substantively impact the national employment and unemployment estimates for November.

The unemployment rate edged down to 7.7 percent in November. The number of unemployed persons, at 12.0 million, changed little. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (7.2 percent), adult women (7.0 percent), teenagers (23.5 percent), whites (6.8 percent), and Hispanics (10.0 percent) showed little or no change in November. The unemployment rate for blacks (13.2 percent) declined over the month. The jobless rate for Asians was 6.4 percent (not seasonally adjusted), little changed from a year earlier. (See tables A-1, A-2, and A-3.)

The U-6 figure also dropped by two-tenths of a point to 14.4%, its lowest level all year. However, the seasonally-adjusted labor force dropped by 350,000, and the civilian labor force participation rate also dropped two-tenths of a point to 63.6%, almost at the 31-year low hit in August. The employment-population ratio dropped by one-tenth of a percent to 58.7%.

In other words, America isn’t going back to work. Americans are still dropping out of the work force.

Update: The topline number comes from the Establishment Survey, but the Population Survey shows a loss of 122,000 jobs, seasonally adjusted, from October (143,384K to 143,262K).

Update: CNBC’s Jeff Cox is pretty excited by these results:

The U.S. economy created 146,000 new jobs and the unemployment rate slid to 7.7 percent, in a report much better than economists had expected.

Despite the effects from Superstorm Sandy, the jobs engine continued to run, albeit slowly.

But Cox notes the “puzzling contradictions”:

The report had some puzzling contradictions, particularly in its assertion that Sandy “did not substantively impact” the jobs count for November.

Also, the drop in the unemployment rate appeared to reflect a continued exodus of workers from the labor force.

The labor force participation rate, already around 30-year lows, fell further in the month to 63.6 percent.

I’d say that the problems between the two surveys continue to be reflected in the topline numbers.  The bottom line is that a smaller percentage of working-age Americans have jobs and are participating in the workforce, and that’s a big, big problem as we head into the Christmas retail season and the fiscal cliff that will come afterward.


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I’ll just copy and paste what I wrote in the other thread:

The unemployment rate went down to 7.7%. The details:

146,000 jobs added, unemployment rate down to 7.7%.

November’s report beat expectations, but revisions for the prior two months don’t look so hot. October was revised down to 138,000, from the initially reported 171,000 figure. September was also moved lower to 132,000 from 148,000.

That’s a huge revision for October. I wouldn’t be surprised to see November get one next month as well. If we’re adding an average of 150,000 jobs per month the last 3 months, the only reasons the rate would be dropping are A)more BS household surveys being used to lower the number or B)people continue to drop out of the workforce in droves.

Doughboy on December 7, 2012 at 8:42 AM

Spin spin spin

Moving in the right direction
Yada yada yada
-dear leader

cmsinaz on December 7, 2012 at 8:42 AM

No no… See? The unemployment rate is now 7.7% and Obama fulfilled his promise of getting it under 8%!

And in other news Chocolate Rations are up and we’ve always been at war with Syria…

Skywise on December 7, 2012 at 8:43 AM

we may beat out Spain with that permanent 20% unemployment.

tom daschle concerned on December 7, 2012 at 8:43 AM

Something fishy to my untrained eye.

and how is it possible the federal numbers are actually ABOVE ADP when they’ve been trailing them for years?

todler on December 7, 2012 at 8:43 AM

How many people transferred from the ‘unemployed’ category to the ‘permanently disables SSDI’ category this month?

And how does that track with previous data?

CorporatePiggy on December 7, 2012 at 8:44 AM

The new normal. We’ll work our way up to typical European unemployment rates in due time.

Liberals will rejoice. It’s so much better to have fewer people working and paying taxes.

darwin on December 7, 2012 at 8:44 AM

The economy is poised to take off. – Barack Obama

Night Owl on December 7, 2012 at 8:46 AM

we may beat out Spain with that permanent 20% unemployment.

tom daschle concerned on December 7, 2012 at 8:43 AM

Yeah, but it’ll never be counted as 20% with the number of people dropping out of the workforce. Drudge has a link to Zero Hedge who says we just lost over half a million people last month alone. That’s insane. I don’t care what bullcrap method they use to artificially lower the unemployment rate. We cannot have that many able-bodied Americans not working, especially when so many are getting taxpayer-subsidized benefits of some kind.

Doughboy on December 7, 2012 at 8:46 AM

Yet another month where there is lackluster job growth and yet less unemployed people. These commies will not stop until everybody is dependent on the government. The rat-eared wonder actually wants us to be worse than Greece.

Happy Nomad on December 7, 2012 at 8:46 AM

More than twice as many dropped out of the workforce as found work; we’ll reach 5% unemployment yet- with less than 50% IN the work force.

michaelo on December 7, 2012 at 8:46 AM

Don’t worry. Scooter is going to “spread the weath around” to all those not working.

Welcome to the Proletariat.

kingsjester on December 7, 2012 at 8:46 AM

Happy days are here again!!!….

/

PatriotRider on December 7, 2012 at 8:48 AM

Did it take into account the Twinkies and citigroup layoffs

If not there will be a revision for sure

cmsinaz on December 7, 2012 at 8:49 AM

The numbers that drop out of the workforce are automated. If you are unemployed long enough, you are automatically re-labeled. But one simple fix is to reduce unemployment benefits. It’s actually difficult to hire people despite the jobless numbers.

MechanicalBill on December 7, 2012 at 8:50 AM

Did it take into account the Twinkies and citigroup layoffs

If not there will be a revision for sure

cmsinaz on December 7, 2012 at 8:49 AM

Wasn’t Citigroup just announced in the last few days? That probably didn’t happen in November. Not sure about Hostess since until a couple weeks ago they were still trying to work something out with the union.

Doughboy on December 7, 2012 at 8:52 AM

I suspect Hilda propped up the numbers KNOWING that O wants to go over the cliff. Then when the economy recrashes and they reinstate the corrected numbers that remain high- they can blame the republicans. Blame has worked for the dems for 4 years- why change the corrupt game.

Bensonofben on December 7, 2012 at 8:52 AM

Politico spinning away for dear leader natch

Thanks doughboy

cmsinaz on December 7, 2012 at 8:53 AM

People finally realize that there is no point in working menial jobs that don’t require continuous career. Latch onto the federal nipple, get all kind of state and local assistance, and stop paying mortgage because the bank won’t bother evicting. You will live much better, and leisure time will be plentiful.

Archivarix on December 7, 2012 at 8:56 AM

wow. The Ministry of Plenty was busy in Nov, eh?

ted c on December 7, 2012 at 8:59 AM

At this rate, the rate will be at 4.5% by the time O leaves.

B Man on December 7, 2012 at 9:00 AM

They need to introduce some new weekly/monthly statistics; such as:
Number on welfare
Number on food stamps
Number of part time vs. full time jobs

albill on December 7, 2012 at 9:01 AM

A jobs report that reflected what Gallup found would have been a huge blow to the President in the fiscal cliff negotiations. I have a feeling they were well aware of that.

ncconservative on December 7, 2012 at 9:01 AM

They need to introduce some new weekly/monthly statistics; such as:
Number on welfare
Number on food stamps
Number of part time vs. full time jobs

albill on December 7, 2012 at 9:01 AM

We do get periodic updates on food stamp recipients and people who are receiving some sort of government assistance. And the numbers keep climbing. Bill O did a report on it last night(it’s linked over at Right Scoop) and it’s chilling. We’re damn near at a 1:1 ratio of private sector workers supporting people who are either receiving government subsidies and/or work in the public sector.

Doughboy on December 7, 2012 at 9:06 AM

The red banner on MSN has me steamed. Ever wonder why BO was re elected, besides voter fraud and really stupid people?
Here’s the narrative………Unemployment dropped to 7.7% in one month of electing BO.

Don’t believe anything else just know that Obama can moved mountains (but only if it is on paper, has to do with numbers and a lapdog media).

ORconservative on December 7, 2012 at 9:08 AM

OK. Who are these workers “leaving the workforce”, why are they leaving, and when will they come back? If the job market is improving as is claimed, you should be seeing more people rush to join it. But you’re not, which is why they keep inching down the unemployment rate. 146K is pretty good considering what we’re used to in the Obama economy, but this continued mass exodus from the labor force makes no sense.

changer1701 on December 7, 2012 at 9:09 AM

Temp jobs in shipping and retail. UPS and Fed Ex alone planned to add 75,000 jobs to handle increased demand during the holiday season.

But Obama will use the opportunity to pre-blame Republicans for killing the economic engine and burning everything to the ground by protecting the 2% … 1% … dirty rich … or whatever term they’re using today.

BardMan on December 7, 2012 at 9:11 AM

HAHAHAHAHAHA

More than half a million dropped?

PappyD61 on December 7, 2012 at 9:13 AM

teenagers (23.5 percent), Hispanics (10.0 percent) for blacks (13.2 percent)

LOL in a mocking way…reap meets sow!

hillsoftx on December 7, 2012 at 9:17 AM

I’m sorry, but I don’t believe a word that comes from this administration on any topic, from unemployment to Benghazi. We have been lied to on everything since January 20th, 2009.

Trafalgar on December 7, 2012 at 9:17 AM

LOL in a mocking way…reap meets sow!

hillsoftx on December 7, 2012 at 9:17 AM

You do not talk this way about the First Couple!

Archivarix on December 7, 2012 at 9:19 AM

Let’s summarize this:

1) 146,000+ jobs created mainly due to a 360,000+ Birth/Death model – a figment of the government’s imagination.

2) Labor Participation Rate falls to 63.6%

3) 500,000+ people left the job market last month.

sentinelrules on December 7, 2012 at 9:20 AM

IF you are just going to arbitrarily remove over half a million people from the workforce then I guess you can make the numbers say what ever you want them to say.

tommyboy on December 7, 2012 at 9:21 AM

We will get some real numbers when Obamacare kicks in if the IRS publishes the number of people fined for not having insurance.Are unemployment checks enough money to buy one of those high dollar policies from an exchange?How will the unemployed pay for this mandate?

docflash on December 7, 2012 at 9:22 AM

The schedenfreude around this place just keeps getting more and more choice.

libfreeordie on December 7, 2012 at 9:22 AM

Lib- go home. You won an election but your party’s policies continue to fail.

Low information continued to be supplied to low info voters. 360k drop out of the work force causing the rate to drop and people talk about it being a good thing? What happened to this country?

Bensonofben on December 7, 2012 at 9:25 AM

I’ve been hearing that the economy is poised to take off. I guess there are degrees of take off.

Cindy Munford on December 7, 2012 at 9:26 AM

The schedenfreude around this place just keeps getting more and more choice.

libfreeordie on December 7, 2012 at 9:22 AM

The number of unemployed persons, at 12.0 million, changed little

Forward!

Good Lt on December 7, 2012 at 9:28 AM

libfreeordie on December 7, 2012 at 9:22 AM

There are none so blind as those who will not see

Trafalgar on December 7, 2012 at 9:28 AM

This is BS! In September they use the Household Survey and emphasis that to ad nauseum saying the unemployment dropped .4 to 7.8.

Household Survey Data
The unemployment rate declined by 0.3 percentage point to 7.8 percent in September. For the first 8 months of the year, the rate held within a narrow range of 8.1 and 8.3 percent. The number of unemployed persons, at 12.1 million, decreased by 456,000 in September. (See table A-1.)

Now in this report, they say little has changed with the Household Survey, with the Establishment taking precident. WTF!?

Household Survey Data

The unemployment rate edged down to 7.7 percent in November. The number of unemployed persons, at 12.0 million, changed little. (See table A-1.)

We had more jobs added by the Establishment this time and it only edges down .1 when last time it edged down .3 with less added by the more reliable metric.

If the Household was changed so little that they didn’t even put a number or comment really on it, how the hell can it go down so much? Shouldn’t it be unchanged? What am I missing here.

Patriot Vet on December 7, 2012 at 9:30 AM

changer1701 on December 7, 2012 at 9:09 AM

I think I would qualify as one of those workers. I don’t attempt to find a job any longer because I am not the primary income source in our home, so I could not in good conscious fill a position of someone truly in need of the income. But I do miss stimulating the economy.

Cindy Munford on December 7, 2012 at 9:32 AM

At this rate, the rate will be at 4.5% by the time O leaves.

B Man on December 7, 2012 at 9:00 AM

And that will piss you off won’t it? No wonder you guys continue losing elections. America hates conservatives who are anti america like most people on this blog.

HotAirLib on December 7, 2012 at 9:33 AM

Oddly I know 4 unemployed people and 3 of them voted for Obama. I have no charity for these 3 friends as they made their bed.

On the other hand I have been working hard to assist the one who did vote for Romney as I see him as the only one who is smart enough to employ.

Bensonofben on December 7, 2012 at 9:33 AM

At this rate, we’ll have a 4.0% unemployment rate – with a record low number of people actually working – before you know it!

DRayRaven on December 7, 2012 at 9:34 AM

If no one in the nation were counted we would have zero unemployment.

And Predator Drone strikes, those are now pretty cool too.

Bishop on December 7, 2012 at 9:37 AM

At this rate, the rate will be at 4.5% by the time O leaves.

B Man on December 7, 2012 at 9:00 AM

And that will piss you off won’t it? No wonder you guys continue losing elections. America hates conservatives who are anti america like most people on this blog.

HotAirLib on December 7, 2012 at 9:33 AM

That one went so far over your head I doubt you even saw it.

Bishop on December 7, 2012 at 9:38 AM

Hot Air

Where good news is bad news

plewis on December 7, 2012 at 9:39 AM

Oddly I know 4 unemployed people and 3 of them voted for Obama. I have no charity for these 3 friends as they made their bed. Bensonofben on December 7, 2012 at 9:33 AM

“Sure they burned my house down, but they did give me this nice boxed lunch.”

Akzed on December 7, 2012 at 9:40 AM

If the 6,817,000 who want a job but weren’t counted as “unemployed” because they didn’t look for work in October were counted, the unemployment rate would be 11.6%.

The kicker, only in August 2012 was the number of uncounted unemployed higher.

Steve Eggleston on December 7, 2012 at 9:41 AM

plewis on December 7, 2012 at 9:39 AM

Translation: Where they don’t buy my messiah’s b.s.

kingsjester on December 7, 2012 at 9:41 AM

Hot Air

Where good news is bad news

plewis on December 7, 2012 at 9:39 AM

146,000 new jobs added(before the inevitable revision next month), over half a million more dropping out of the workforce, and the labor participation rate at 63.6% which nearly matches a 31-year low are considered good news by you? No wonder this country is f’ed.

Doughboy on December 7, 2012 at 9:41 AM

That’s a huge revision for October. I wouldn’t be surprised to see November get one next month as well. If we’re adding an average of 150,000 jobs per month the last 3 months, the only reasons the rate would be dropping are A)more BS household surveys being used to lower the number or B)people continue to drop out of the workforce in droves.

Doughboy on December 7, 2012 at 8:42 AM

People are dropping out and closing businesses. Why should anyone work when we all know people or have read about those living on SSDI with nice homes, cars and iPhones?

What are they all going to do when all the productive folks go Galt?

dogsoldier on December 7, 2012 at 9:41 AM

Something fishy to my untrained eye.

and how is it possible the federal numbers are actually ABOVE ADP when they’ve been trailing them for years?

todler on December 7, 2012 at 8:43 AM

ADP changed their methodology a couple months ago.

Steve Eggleston on December 7, 2012 at 9:42 AM

Hot Air

Where good news is bad news

plewis on December 7, 2012 at 9:39 AM

we’ll put your name down in the propaganda column with the other ignoramuses.

tom daschle concerned on December 7, 2012 at 9:42 AM

HotAirLib on December 7, 2012 at 9:33 AM

It would anger people if that unemployment level didn’t reflect a good economy by a strong revenue inflow from taxes as in past periods with the same rate. If the workforce returns to previous levels and that is the rate, it would be great. The money going into the Treasury will be the telling factor.

Cindy Munford on December 7, 2012 at 9:42 AM

From the BLS:

The civilian labor force participation rate declined by 0.2 percentage point to 63.6 percent in November, offsetting an increase of the same amount in October. Total employment was about unchanged in November, following a combined increase of 1.3 million over the prior 2 months. The employment-population ratio, at 58.7 percent, changed little
in November.

What the MSM won’t be telling everybody is people are still dropping out of the labor force.

plutorocks on December 7, 2012 at 9:42 AM

Where goodfake news is bad news laughed at.

plewis on December 7, 2012 at 9:39 AM

FIFY

dogsoldier on December 7, 2012 at 9:43 AM

Hot Air Obama’s America

Where good news is bad news math is a GOP conspiracy

plewis on December 7, 2012 at 9:39 AM

Fixed.

Good Lt on December 7, 2012 at 9:46 AM

More brain food for the brainless

Elchasebo on December 7, 2012 at 9:46 AM

Hot Air

Where good news is bad news

plewis on December 7, 2012 at 9:39 AM

Military: “Bin Laden is now dead.”

plewis: “Was he given a fair trial first?”

Bishop on December 7, 2012 at 9:48 AM

That one went so far over your head I doubt you even saw it.

Bishop on December 7, 2012 at 9:38 AM

I was trying to come up with a reply it would understand but I believe you nailed it Bish.

Tenwheeler on December 7, 2012 at 9:49 AM

And that will piss you off won’t it? No wonder you guys continue losing elections. America hates conservatives who are anti america like most people on this blog.

HotAirLib on December 7, 2012 at 9:33 AM

You are dumb.

Night Owl on December 7, 2012 at 9:51 AM

I personally plan to trot out the same remarks the Democrats always used against Republicans when employment improved. “They are McDonalds jobs”.

Cindy Munford on December 7, 2012 at 9:52 AM

People are dropping out and closing businesses. Why should anyone work when we all know people or have read about those living on SSDI with nice homes, cars and iPhones?

What are they all going to do when all the productive folks go Galt?

dogsoldier on December 7, 2012 at 9:41 AM

We’re already reaching that point. Once the tax hikes go into effect(especially the ones for Obamacare), the fit will really hit the shan. My guess is out of desperation we print a few trillion bucks more to keep this thing propped up a little longer before the inevitable collapse.

Doughboy on December 7, 2012 at 9:52 AM

Hot Air

Where good news is bad news

plewis on December 7, 2012 at 9:39 AM

Please explain why you think this is good news.

Night Owl on December 7, 2012 at 9:52 AM

The unemployment rate went down to 7.7%. The details:

146,000 jobs added, unemployment rate down to 7.7%.

November’s report beat expectations, but revisions for the prior two months don’t look so hot. October was revised down to 138,000, from the initially reported 171,000 figure. September was also moved lower to 132,000 from 148,000.

That’s a huge revision for October. I wouldn’t be surprised to see November get one next month as well. If we’re adding an average of 150,000 jobs per month the last 3 months, the only reasons the rate would be dropping are A)more BS household surveys being used to lower the number or B)people continue to drop out of the workforce in droves.

Doughboy on December 7, 2012 at 8:42 AM

Hey D,
If they revise previous month’s jobs created numbers, do they also revise the unemployment rate or percent? If so, it would be interesting to see those figures…..

Tenwheeler on December 7, 2012 at 9:53 AM

I personally plan to trot out the same remarks the Democrats always used against Republicans when employment improved. “They are McDonalds jobs”.

Cindy Munford on December 7, 2012 at 9:52 AM

there is an article at zero edge that agrees with that. real earnings are cratering. new hires are likely to be part time low wage earners

tom daschle concerned on December 7, 2012 at 9:55 AM

HotAirLib, plewis and libfreeordie are perfect examples of Obama’s base: low-information, ignorant voters.

You know, morons.

sentinelrules on December 7, 2012 at 9:55 AM

I personally plan to trot out the same remarks the Democrats always used against Republicans when employment improved. “They are McDonalds jobs”.

Cindy Munford on December 7, 2012 at 9:52 AM

Thanks to Obamacare, each person needs 2 McDonalds jobs, since they won’t be able to work more that 30 hours a week. But Woo-Hoo, the unemployment rate will probably go down. Actually, they may need a 3rd part time job to pay for the health insurance their employers no longer provide.

Night Owl on December 7, 2012 at 9:55 AM

The number of unemployed persons, at 12.0 million, changed little

How dare you people not consider this good news?

You’re all delusional and Obama is awesome.

Good Lt on December 7, 2012 at 9:56 AM

Another month, and the employment population ratio still unimproved since the “end” of the recession.
http://data.bls.gov/timeseries/LNS12300000

topdog on December 7, 2012 at 9:59 AM

Special Report: Amazon’s billion-dollar tax shield
http://www.reuters.com/article/2012/12/06/us-tax-amazon-idUSBRE8B50AR20121206

By setting up in Luxembourg, and channelling sales through its units there, the world’s biggest online retailer could minimize corporate taxes.

It was a move with big financial consequences.

Amazon’s Luxembourg arrangements have deprived European governments of hundreds of millions of dollars in tax that it might otherwise have owed, as reported in European newspapers. But a Reuters examination of accounts filed by 25 Amazon units in six countries shows how they also allowed the company to avoid paying more tax in the United States, where the company is based.

Proof again that taxing the rich and redistributing the proceeds doesn’t work.

What will the Ocommie try as plan B?

Galt2009 on December 7, 2012 at 10:00 AM

Wow, the libs are out in force.

Good news? Right, only if you believe the bs. The economy is contracting. Contracting.
I listened to Cramer’s opening yesterday at the request of my dad. He’s an interesting liberal. His message was that the economy is poised to take off if the politicians would let it. That is correct. The numbers can say whatever they want them to say, the economy is contracting and until Obama quits squeezing the life out of it nothing is going to turn positive.

ORconservative on December 7, 2012 at 10:00 AM

And that will piss you off won’t it? No wonder you guys continue losing elections. America hates conservatives who are anti america like most people on this blog.

HotAirLib on December 7, 2012 at 9:33 AM

Sure, because we all know the goal is winning elections and not what you do after you’ve won. Just like the goal of dems in congress is passing legislation with cool names without regard to what that legislation actually does.

You should up your medication.

Lost in Jersey on December 7, 2012 at 10:00 AM

HotAirLib, plewis and libfreeordie are perfect examples of Obama’s base: low-information, ignorant voters.

You know, morons.

sentinelrules on December 7, 2012 at 9:55 AM

That’s being overly redundant.

Galt2009 on December 7, 2012 at 10:01 AM

Words of wisdom from no less than Turban Dick on what is really wrong with the economy:

“Our downgrade of America’s credit rating was not based on the state of our economy but the debt-ceiling debate,” said Sen. Dick Durbin (D) of Illinois to reporters after the affair. “We are paying dearly for that already

So, the debt-ceiling debate is the real problem, not the fact that the Federal Government is spending over a TRILLION DOLLARS A YEAR more than it brings in.

Good God.

Tenwheeler on December 7, 2012 at 10:01 AM

The trolls pushed their “the sky is down” baloney prior to the election in an attempt to get Oblamer reelected. I get it. But why come here now when the next election is two years away and try to sell us this koolaid?

It’s what makes a troll a troll. There are threads on HotAir that make more sense to populate. But when you come here and try to sell that ’7.7 is all that matter story” you really do look like idiots. Low info voters.

Bensonofben on December 7, 2012 at 10:03 AM

My guess is out of desperation we print a few trillion bucks more to keep this thing propped up a little longer before the inevitable collapse.

Doughboy on December 7, 2012 at 9:52 AM

Yes. I’ve read numerous stories and listened to many small business people on the local radio station calling in and saying they laid off their employees, closed their businesses, sold their house, liquidated and LEFT.

That slipstream is looking nice.

dogsoldier on December 7, 2012 at 10:05 AM

Denninger over at the Market Ticker has the best assessment of the propaganda employment report that I have come across.

Read it and weep…

voiceofreason on December 7, 2012 at 10:06 AM

You know, I’m weary of all of these bullsh1t reports. On this very page at the top is a Gallup link that says it’s back up over 8%.

Everybody seems to have whatever f-ing number they want, and frankly, I don’t believe a single one of them.

Midas on December 7, 2012 at 10:08 AM

The unemployed should show up at the White House and show them what good news this is…

d1carter on December 7, 2012 at 10:09 AM

Yesterday, Ed Morrissey wrote:

Given the data from Gallup today and ADP yesterday, I’ll predict that the jobs report shows about 95,000 jobs added and a jobless rate remaining steady at 7.9%.

Can we all just agree that Ed’s predictions are nothing but Republican cheerleading? He had all of Hot Air convinced that Romney was headed to resounding victory, and now his big thing is economic gloom and doom. He cherrypicks every data point that looks bad and ignores, questions, or outright denies any good news. Ed and the more moderate voices among conservatives may not be shouting “LET IT BURN” like some of the more patently unhinged bloggers and commenters, but it’s clear that they all want the economy to fail while the Democrats control Washington.

Ed, take off the red-tinted sunglasses.

Alpha_Male on December 7, 2012 at 10:10 AM

Hey, look at the bright side. With so many dropping out of the work force it will be easier for those of us who are not moochers to find or keep our jobs, and for us to work as many hours as we want to to support the moochers. And while we’re at it, working all those hours and making all that money, we’ll all become “rich” so we can have the privilege of a higher tax rate!

Good times! /s

moo on December 7, 2012 at 10:10 AM

If I were to get laid-off from my current day job, I would not be considered unemployed, despite the fact that I cannot live without it.

Why? Two reasons:

1. I am collecting a pension. I took early retirement from my last company after finding my current job. The pension is too small to live on, but it made more economic sense to pull the trigger on the retirement than to wait until retirement age. (When I ran the numbers, I discovered I would have to live until I was 93 to break even by waiting — and that ignores the time value of money.)

2. I have a small income as a freelance writer. This is work I do weekends and evenings, and again is too small (and too undependable) to live on.

Regardless, by federal definition I cannot be unemployed. I am either retired or employed, working part-time. So I would not count to the unemployment statistics.

I’ll bet I am not alone. I would not be surprised if 5-10% of the workforce that is currently not employed (as opposed to “unemployed”) also falls into those two categories.

No Truce With Kings on December 7, 2012 at 10:12 AM

Alpha_Male on December 7, 2012 at 10:10 AM

When are you going to rrealize that you are on a Conservative website?

If you want a consensus with your Liberal viewpoint, go to a Liberal website.

Well, duuuuh.

kingsjester on December 7, 2012 at 10:13 AM

He cherrypicks every data point that looks bad and ignores, questions, or outright denies any good news.

Alpha_Male on December 7, 2012 at 10:10 AM

Feel free to list any “good news”.

darwin on December 7, 2012 at 10:14 AM

EXCLUSIVE: FEMA teams told to ‘sightsee’ as Sandy victims suffered
http://www.foxnews.com/us/2012/12/07/exclusive-fema-teams-told-to-ightsee-as-sandy-victims-suffered/

Hey, where are all the trolls acknowledging Obama’s ownership of this debacle?

Galt2009 on December 7, 2012 at 10:15 AM

Alpha_Male on December 7, 2012 at 10:10 AM

LOL! The media outright lies and covers for Obama for four freaking years, and you want to nitpick ED? Seriously? Your hypocrisy rivals your stupidity. Gallop said it would be over 8%, have you been there to reprimand them? And if these numbers are so great, why are they ALWAYS revised downward later?

Night Owl on December 7, 2012 at 10:20 AM

Kingjester- well said in two sentences or less.

Actually even huffPo’s excitement over the topline number is measured. They even pointed out that the dramatic lowering of the September and October numbers looks odd now- with the election in our rearview mirror. @corrupt

Bensonofben on December 7, 2012 at 10:20 AM

Bensonofben on December 7, 2012 at 10:20 AM

Yep. I think, everyone, except the ternminally stupid, questions the timing.

kingsjester on December 7, 2012 at 10:22 AM

Alpha_Male on December 7, 2012 at 10:10 AM

Why don’t you explain how the wonderful economy that Barry promised would come to past is going to withstand the onslaught of all of his nifty new regulations?

Then explain how the Obamaecnomy is going to shrug off all the new ‘screw the rich’ taxes he wants to impose? Not to mention all of the Obamacare taxes.

And then you can explain what genius prezzy is going to do when those taxation targets don’t cough up the goods and he has to lower the bar on who gets screwed?

Galt2009 on December 7, 2012 at 10:23 AM

You know, I think the oceans have begun to recede and the planet has begun to heal itself..!

d1carter on December 7, 2012 at 10:26 AM

lol. only a few more mouth breather trolls left to show their faces here… its like they are absolutely compelled to confess their ignorance.

tom daschle concerned on December 7, 2012 at 10:26 AM

Can’t believe the jobs numbers… the Ministry of Propaganda is just making stuff up now. Despair does not equate to employed or ‘do not count as unemployed’. After a couple of years of fruitlessly looking for a job, people are going to get frustrated and essentially ‘give up’ on finding a job. That doesn’t mean they aren’t still hoping…they just get tired of the BS.

If the administration doesn’t like this month’s jobs numbers, they just tell BLS to shave half a million people from the job force… presto-change-o; 7.7 unemployment. The Ministry of Propaganda will never question what they are told, so they will NEVER report the truth (the truth is STILL out there).

Actually, the unemployment number is quite simple fo compute; if we have 60 million out of 300 million people working, then the employment rate is approximately 60/300 or 20%…making the actual unemployment rate 80% (granted this counts children and retired, etc. But do you want a real number or some BS number that can be manipulated?)

Unemployed is the inverse of employed…as simple as that. I know die-hard statisticians and liberals will dispute this simple fact, but it’s true, you are either employed or not. If we have 7.7 unemployment as this article claims, then that means 92.3% of the American people are working, which we all know is simply NOT true.

xmanvietnam on December 7, 2012 at 10:29 AM

. Ed and the more moderate voices among conservatives may not be shouting “LET IT BURN” like some of the more patently unhinged bloggers and commenters but it’s clear that they all want the economy to fail while the Democrats control Washington.

Ed, take off the red-tinted sunglasses.

Alpha_Male on December 7, 2012 at 10:10 AM

Talk about “cherry picking” information….

Democrats from the Hill all the way down to the pundit voices have expressed not only no problem with going over the fiscal cliff…..they are even advocating for it.

Democrats won’t even vote on their own “fiscal cliff plan” that Obama has bragged about so much because they know they don’t have the support for it in their own caucus.

The economy has been in a steady nose dive since Obama came into power and it’s idiots like you who cheer hundreds of thousands of people having to drop out of the work force to lower Unemployment numbers that are allowing him to decimate it even further.

Clean up your own back yard liberal before you start whining about the blogger’s here.

Baxter Greene on December 7, 2012 at 10:34 AM

In the Household Survey, the number of employed declined by 122,000 while the number of unemployed declined by 229,000, producing a decline in the official unemployment rate due to people dropping out of the labor force.

Holding the labor force participation rate constant as of January 2009 yields an unemployment rate of 10.7% in November 2012, up slightly from 10.6% in the previous month. This number has been in the range of 10.6% – 11.4% since September 2009.

DKCZ on December 7, 2012 at 10:37 AM

Alpha_Male on December 7, 2012 at 10:10 AM

Why don’t you explain how the wonderful economy that Barry promised would come to past is going to withstand the onslaught of all of his nifty new regulations?

Then explain how the Obamaecnomy is going to shrug off all the new ‘screw the rich’ taxes he wants to impose? Not to mention all of the Obamacare taxes.

And then you can explain what genius prezzy is going to do when those taxation targets don’t cough up the goods and he has to lower the bar on who gets screwed?

Still waiting for some wisdom from you…

Galt2009 on December 7, 2012 at 10:42 AM

He cherrypicks every data point that looks bad and ignores, questions, or outright denies any good news.

Alpha_Male on December 7, 2012 at 10:10 AM

Do you even read Ed’s analysis? The very beginning of this thread says the following:

The US got a better November than some had expected in the job markets — but only in the top line numbers. The economy added 146,000 jobs, better than expected if still a status quo result, and the jobless rate declined to 7.7%.

In the first two sentences alone, Ed gives the “good” news, uses the phrase “better than expected” twice, yet qualifies the figures in the ensuing paragraphs. That’s a non-partisan, honest writeup of the monthly jobs report. It’s frankly the template every media source in this nation should use if the majority of our journalists had one iota of professionalism.

Doughboy on December 7, 2012 at 10:42 AM

Maybe, this is good news…just a thought.

tomas on December 7, 2012 at 10:45 AM

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