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Unemployment Drops Amazingly To 10%, NFP Down 11.000 Much Higher Than Consensus, 17.2% U-6 Unemployment
THE EMPLOYMENT SITUATION -- NOVEMBER 2009
The unemployment rate edged down to 10.0 percent in November, and nonfarm payroll employment was essentially unchanged (-11,000), the U.S. Bureau of Labor Statistics reported today. In the prior 3 months, payroll job losses had averaged 135,000 a month. In November, employment fell in construction, manufacturing, and information, while temporary help services and health care added jobs.
Household Survey Data
In November, both the number of unemployed persons, at 15.4 million, and the unemployment rate, at 10.0 percent, edged down. At the start of the recession in December 2007, the number of unemployed persons was 7.5 million, and the jobless rate was 4.9 percent. (See table A-1.)
Among the major worker groups, unemployment rates for adult men (10.5 percent), adult women (7.9 percent), teenagers (26.7 percent), whites (9.3 percent), blacks (15.6 percent), and Hispanics (12.7 percent) showed little change in November. The unemployment rate for Asians was 7.3 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.)
Among the unemployed, the number of job losers and persons who completed temporary jobs fell by 463,000 in November. The number of long-term unemployed (those jobless for 27 weeks and over) rose by 293,000 to 5.9 million. The percentage of unemployed persons jobless for 27 weeks or more increased by 2.7 percentage points to 38.3 percent. (See tables A-8 and A-9.)
The civilian labor force participation rate was little changed in November at 65.0 percent. The employment-population ratio was unchanged at 58.5 percent. (See table A-1.)
The number of people working part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed in November at 9.2 million. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-5.)
About 2.3 million persons were marginally attached to the labor force in November, an increase of 376,000 from a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. (See table A-13.)
Among the marginally attached, there were 861,000 discouraged workers in November, up from 608,000 a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.5 million persons marginally attached to the labor force had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities.
Establishment Survey Data
Total nonfarm payroll employment was essentially unchanged in November (-11,000). Job losses in the construction, manufacturing, and information industries were offset by job gains in temporary help services and health care. Since the recession began, payroll employment has decreased by 7.2 million. (See table B-1.)
Construction employment declined by 27,000 over the month. Job losses had averaged 117,000 per month during the 6 months ending in April and 63,000 per month from May through October. In November, construction job losses were concentrated among nonresidential specialty trade contractors (-29,000).
Manufacturing employment fell by 41,000 in November. The average monthly decline for the past 5 months (-46,000) was much lower than the average monthly job loss for the first half of this year (-171,000). About 2.1 million manufacturing jobs have been lost since December 2007; the majority of this decline has occurred in durable goods manufacturing (-1.6 million).
Employment in the information industry fell by 17,000 in November. About half of the job loss occurred in its telecommunications component (-9,000).
There was little change in wholesale and retail trade employment in November. Within retail trade, department stores added 8,000 jobs over the month.
The number of jobs in transportation and warehousing, financial activities, and leisure and hospitality showed little change over the month.
Employment in professional and business services rose by 86,000 in November. Temporary help services accounted for the majority of the increase, adding 52,000 jobs. Since July, temporary help services employment has risen by 117,000.
Health care employment continued to rise in November (21,000), with notable gains in home health care services (7,000) and hospitals (7,000). The health care industry has added 613,000 jobs since the recession began in December 2007.
In November, the average workweek for production and nonsupervisory workers on private nonfarm payrolls rose by 0.2 hour to 33.2 hours. The manufacturing workweek increased by 0.3 hour to 40.4 hours. Factory overtime rose by 0.1 hour to 3.4 hours. Since May, the manufacturing workweek has increased by 1.0 hour. (See table B-2.)
In November, average hourly earnings of production and nonsupervisory workers on private nonfarm payrolls edged up by 1 cent, or 0.1 percent, to $18.74. Over the past 12 months, average hourly earnings have risen by 2.2 percent, while average weekly earnings have risen by 1.6 percent. (See table B-3.)
The change in total nonfarm payroll employment for September was revised from -219,000 to -139,000, and the change for October was revised from -190,000 to -111,000.
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Baghdad Bob now runs the BLS.
Gee, unbelievable numbers, just in time for the Christmas shopping rush... why, you couldn't have had better timing if you had worked the numbers intentionally!
I guess that jobs summit at the White House yesterday really worked!
Perhaps.
But more likely they're bolstering Bernanke given the pounding taken before the Senate.
Added or saved 1,000,000 jobs. I think they found the Genie that Aladdin lost.
It won't make any difference. A decrease in those numbers is BS and everyone knows it. It may get more suckers to run up the stock market, but "lower" unemployment" can't make people spend money they don't have and credit cards they can't use or don't have.
If Obama thinks I'm hiring ANYONE any time soon he can kiss my ass.
Cindy.. once more you are right on time .. right on the money .. Besides our national leadership is wearing out their kneepads kissing other folks asses.
The drop in unemployment is likely due to some rehires by construction companies to complete last minute 2009 jobs. I'm seeing it all over town.
I never knew 0-4-4 = -5
What, no seasonal adjustment? Guilty conscience + lawsuit avoidance = fewer job layoffs during holidays. We may even get an uptick in 2010. Either way, all this could mean is that there's an increase in disheartened workers no longer seeking a job, not an improvement in the labor market.
False. U6 ticked down, which includes those demographics.
There will be a significant uptick from the hiring of Census workers in the early months of 2010. This should be about 1 million temporary jobs. After the census those workers will be back looking for a job again. Keep your heads up for that.
Sssspluttterrrr!
WTF??!! Oh, man, so wanted to stay bearish!
Darn.
Gotta goose those holiday sales a little more, evidently.
AU/USD off the cliff, down about $17 in 2-minutes (now at $1190 and change). Swell - I was looking for a buying opportunity, so thanks for that Barack.
Anyone got a real-time quote on USDX , how did USD/YEN and USD/EURO behave
http://www.forexpf.ru/_quote_show_/java/
Thanks. Def looks like a currency event rather than gold event.
Looks like the Gold Spot is bouncing between $1186 and $1192. Hard support for $1189 or so? Perhaps. Who knows.
Who cares. As long as the printing presses are humming, I'm a buyer. It can't go up every day. This is a head fake.
Concur - in fact, it warmed my heart a bit to see that we're now down near $1170. The lower it goes, the more I'll buy.
http://www.netdania.com/Products/live-streaming-currency-rates-foreign-e...
I never go anywhere that ends in .ru
Good point, but the site is brilliant though the java stops working at times
I compiled related Kitco charts and news onto these three pages. Each updates every minute. Enjoy.
world currencies charts
precious metals charts
base metals charts
much grass
where is the pitfall?
source: http://www.bls.gov/news.release/empsit.t12.htm
Check out the "not seasonally adjusted" number--October: 16.3%, November: 16.4%. Interesting!
Edit: Just saw your post further down, Mayhem.
The market should have fun with this data.
I can't wait until when the hacked BLS email data comes out. HIDE THE DECLINE!
haha
Gold dropping like a brick.
lol wtf .
Dollar got wood. :-)
No glove this AM MsCreant
Indeed! Good morning!
Time to buy...:)
so when retail fires all the seasonals in january it'll be like 11-12%?
yee of little faith in the USA gov't.
it will drop to 8.8%.
U6 will drop to 12%
Happy days are here again.
Sailors will be kissing women in Times Square.
Goldman Sachs to lay down their guns.
And supply the Broads from Broad Street for DH's sailors.
Guess yesterday afternoon was the big setup to roast the shorties in after hours. Guess gold will be back to its vertical trajectory though...
*edit* ^^ errr, guess not...welcome to bizarro world.
why are only the bulls allowed to call employment data a lagging indicator when employment figures are running against them.....remember the figures from early November?
Yeah, and when the annual birth/death adjustment adds a million additional lost jobs in Q1 nobody will talk about it.
We must have happy holidays people, now go to the mall and buy a bunch of sh*t you don't need with money you don't have, chop, chop!
Could the October revision and the November drop-off result in a Cash For Clunkers style unemployment data hangover that will hit in Jan or Feb '10?
Health Care and Temp services.....seasonal????
All other sectors down
Median Duration of unemployment up
Big decline in 16 to 19 year olds and people with no high school degree and with high school degree.
college educated unemployment rate up
Labor force declines marginally
Yeah, the internals look sick. This is probably a move to continue the massive distribution job at the big prop desks. It certainly won't help the liquidity trade if the USD strengthens and gold weakens.
Empirical observation from within the health care industry:
The increase in payroll is anything but new job creation. There have long been licensed health care workers who have remained out of the work force for various reasons by choice. These people are returning in droves due to the down economy, hubby got laid off, can't afford truckloads of Chinese Christmas crap for the kids ... Hospitals have been running chronic labor shortages for years and are now very near full staffing. These "jobs" have existed as vacancies in HR files for years. It's just a counter cyclical decision by workers in my perspective. It actually means that new grads are having a much harder time finding work in what used to be a wide open field.
Very interesting. Thanks for sharing your observation.
Yesterday's Jobs Summit: Mission Accomplished!
Birth/death number?
This may be good for a day but one must ask if it doesn't begin a real quest to remove some of the liquidity from the economy? Or perhaps Santa came early and SPX 1200 might be EOY target?
If the dollar actually strengthens what does that do to the adminstrations plan to add 10 manufacturing jobs into the 2010 mid-term elections?
How much did Bill Gross lose in the last 30 mins (long treasuries). He looked like he had wet himself on CNBC (as opposed to leisman who i think actually came when the number printed).
Ugh. Glad I don't watch what can only be described as the "Kolivakis filth gear" anymore. Steve Liesman makes the hate the existed for Barney the Purple Dinosaur seem tame.
HA...Liesman did look like he had the most stimulating moment in a long time.
After such tight coupling all of a sudden gold down, dollar up and equity up after bernanke gets ripped a new one on capital hill and Obama talsk jobs in the whiote house. welcome to the sureal
"Ripped a new one" would imply a hell of a lot more than a bunch of legislators preening and posturing on the Hill.
Well, now that we got that jobs thing fixed, we can get back to passing the health care bill!
don't forget cap and trade!!!
BLS = BS
Time to get some gold eagles (not tungsten)
So, the dollar carry trade ... ?
Face facts jobs are coming back, and the government will be hiring a boat load of consensus workers in the early part of 2010, 1.4 million I believe. So the payrolls number is going positive next year, regardless of what you think of it.
Regardless of what I think? I think you are a buffoon for saying the gov't is going to be hiring "consensus" workers. Idiot.
Clearly you don't think.
Hmmm. Really? Actually, I like the term.
We have a Japanese style of Economic plan. Ought to throw in the type of Government, too.
Unless he's talking about just "Yes Men". Then it's our old style of Government.
"consensus workers" = census workers?
Sorry yeah lol.
No way - that's golden! That's a great one to throw out at the party for the impulsive correctionists to interrupt you on. O only hires people that share the O consensus - czar after unconstitutional czar. Not that O came up with it himself - he's just a Yeswecanman, too.
"...that was a Fraudian slip, believe me." (Sen. Jim Bunning)
WRONG. 1.4 million is an overshoot by 200-300,000, but who's counting anyway. and if you think a million temps making 10 bucks an hour is going to affect overall consumer confidence during the 6 months post-holiday when everyone is crying over their newly run-up credit card bills, well....not going to happen. so whatever (artificial) boost this may provide, it will not suffice to offset seasonal layoffs and the coming clusterfuck of foreclosures and bankruptcy auctions. net positive, no way after december numbers. sorry
All that dumb money in gold is about to get tire-fired.
Who in their right minds would consider consensus jobs as productive jobs? Oh I know the gov!
But I never said they were productive? I said that the payrolls number is going positive whether you like it or not.
It's highly political and there is a psychological game being play here, but if the payrolls number goes positive, then it prints good headlines and that may well create confidence among the employed to spend a bit more, and if they spend more businesses may become more confident ect ect.
mdtrader--no it won't. People have had it. A surprising # of people no longer believe the data. Thanks to alternative press and websites like this, many are seeing thru the darkness.
At any rate there will be so much bad news in the coming quarters that anything "good" will only "balance" the bad, so to speak.
Oh, and Obama's administration has caused so much uncertainty that whatever is left of small businesses won't hire, and/or wil start 1099ing people. Makes like a bit easier, thats for sure.
Maybe, but this is highly political market. So to bet against it you have to bet against the stimulus, the printing press, and the political will to massage the truth. Look how quickly attitudes and sentiment changed towards the banks when they suspended reality, and stopped marking to market. Suddenly they had "profits", back came the confidence, and in came a boat load of capital. The government is likely trying the same game with the jobs market. It's unwise to underestimate the power of power of sentiment and psychology you know.
So, does this mean we can shut down BBPrinting.gov for - what? - a couple of days? Maybe even a week?
Just to let the rollers cool-down a bit, of course.
I hope the new batches of consensus workers don't kill them selves under the extreme stress.
I don't see how the MSM can call this an 'improvement'
Non-seasonally adjusted U6 is getting worse -- it's up by 0.1%.
CNN.com headline is "Job market shows big improvement". Another day in the twilight zone...
PM...thank you for pointing out this data...it is appreciated very much!
little more heat in Paki overnight I see..........
shhhhh... now damnit Mayhem, didn't you get the memo? We're only here to discuss improvements. Seasonally adjusted showed just that, not NOT seasonally adjusted. If it were the other way around no one would give a care about that either. Now excuse me while I watch my equities rip one upwards.
PS, me thinks (knows without all doubt) the gubment has played all its hands when it can no only resort to lying and candy coating statistics.
I think if American Pravda and the gubermint don't cut this propaganda #$% out, they will lose ALL credibility and piss off a great many people.If by improvement they mean an uptick in pitchfork sales...maybe.
Stock markets usually top out on good news, particularly after a long run. And this can only be considered good news by the masses. Dollar is jumping. I don't see dollar and stocks going up at the same time, though anything can happen in this strange world.
Let's see what Monday brings. I suspect the Fed is stoking the fires this morning.
Monday indeed. Or Tuesday. Or . . .
But "the masses", CD?
Stock markets usually top out on good news, particularly after a long run
This!
Today's numbers (be they incompetence by DOL or a lie, probably a lie) could be the one you describe. I thought yesterday's claims numbers might do it but whatever the case, the distribution of overvalued equities is nearing completion.
I must admit the numbers today were so bad that I laughed for minutes on end. Gotta love the USA and its gubbermint.
Spoos:
Bonds:
Babes. We miss them.
"Temporary help services accounted for the majority of the increase, adding 52,000 jobs. Since July, temporary help services employment has risen by 117,000."
You could say this is a positive first step or you could say it shows a lack of confidence from business owners. I'll take the latter.
So what was the deal with the little "leak" yesterday around lunchtime that the unemployment numbers might be worse than expected? Could that have been a little "fuck you" to the bears? I don't believe in accidents or crocodyle tears.
True that! Set up the shorts and then SQUEEEEEEZE. Hey, at least it gets the volume to go up every now and then on an 'up' day.
There was no leak. Unless you're a conspiracy theorist. Wait, that's everyone on this site is, right?
In retrospect that, combined with the selloff at the close, was most definitely a fuck you to the bears.
As a US citizen, I want to see our way out of this nasty recession so this is positive news.
Especially this part:
"In November, the average workweek for production and nonsupervisory workers on private nonfarm payrolls rose by 0.2 hour to 33.2 hours. The manufacturing workweek increased by 0.3 hour to 40.4 hours. Factory overtime rose by 0.1
hour to 3.4 hours. Since May, the manufacturing workweek has increased by 1.0 hour."
As D. Rosenberg has stated in his newsletter, these stats are good indicators of a turnaround because these numbers have to pick up to soak up all the slack in the system. One month doesn't make a trend, but it'll be interesting to see if these numbers continue to pick up.
Uh... isnt this the continuation of a 10-month trend? Job losses peaked in Feb/Mar and have been getting smaller every month since. Seems likely that will continue into positive growth in most/all months in 2010. Economy is like battleship.
Further... revisions have been positive for last 3 months, no? So that kinda blows up the "this will be revised" statement.
Low-rate process works. Squeezes zero-risk savers into finding "productive" ways to use capital... which eventually always means hiring people to do something. Funny that so many people here dont seem to grasp that. Keynes was a pretty smart dude (and very successful speculator).
Looking at your Gold is not productive (and earns you negative or infintesimal l-t returns). Stop doing it. Go find a company that will return 100% in the next 1-yr. There are lots of them.
Examples please!
"Low-rate process works. Squeezes zero-risk savers into finding 'productive' ways to use capital."
Translation: make people take their money out of secure FDIC-insured bank accounts and put it into the Wall Street casino so brokers, investment banks, and HFT firms can milk it for commissions and fees before it disappears completely in another crash.
Is the BLS taking lessons from the climatologists at the Univ of East Anglia on data management and analysis?
Climategate: Michael 'Piltdown' Mann throws Phil Jones out of the sleigh as panic grows
http://blogs.telegraph.co.uk/news/geraldwarner/100018788/climategate-michael-piltdown-mann-throws-phil-jones-out-of-the-sleigh-as-panic-grows/
Why all the conspiracy.
MSM will tell everyone all is good. It's OK, go spend your money to by worthless crap. Put it on your credit card, then panic when the bill arrives. Pay on it for 20 years to be a slave to the banks. That is how the wheels have been turning here in the US for 25 years or so. Improve companies balance sheets while deteriorating yours. Keep you poor so you will follow the heard.
We need to stop being told how to feel and work on controlling our own destiny one by one. This will bring us out of the doldrums we are in. Just think for yourself.
The Thermonuclear Positive Second Derivative Spin Meltup Act is getting tiresome.
Just read Felix Salmon on you guys.
My God, he's dead on.
A bunch of lunatics.
There was an article a couple days ago on Bloomberg(shocking) which stated that these jobs numbers would be better than expected ONLY because of adjustments in comparison to last Nov. ~600,000 jobs lost. It even mentioned that some economists were projecting a positive number. There was also a prediction on positively revised prior-month data.
The main point: The jobs data will present a falsely rosy picture come Friday.
I can't say I'm surprised at all by this news after reading that article.
Fake, contrived, potemkin, made-up, bogus. Shalom needs reappointed and lets trick people into thinking things are getting better so they'll shop. If we can just make it past the holidays. You stupid fuckers I see right your scams.
I think ZH opened up a new can - 'Shalom this, Shalom that' might get as popular as
Hussein this, Hussein that' among certain crowds - most likely not the same ones.
Let's see here...the unemployment rate actually went DOWN when the continuing claims numbers continue to stay positive, the benefits extension figures continue to grow, and the ADP "jobs added" data has been negative in every single report for the last year?
Go figure. It appears that we continue to lose jobs in every report, but the UE rate has dropped! We're SAVED!
Anyone else noticed that for the first time in months, prices of risk assets (with the exception of equities) actually declined on bullish US econ news?
It's good to have your own opinion. Afterall, that's what we traders do - we trade our opinions. Just don't let your opinions overrun your judgement.
Skeptical here too but then again I
was sure we'd have more mass layoff
events by now coming into the xmas
season.
Positive revisions to the change in nonfarm employment of 42% for October ??
42 % ?? A miss of 79,000 ??
Am I misreading something, or are these numbers totally beyond the realm of validity....?? -190k to -111k ??
NoBama had to hire more SS after they screwed up the party invites-like 800,000 new employees.
I'm betting a lot of people get fired after xams holiday hiring
Another USD spike ... the dollar rally is getting closer.
http://www.zerohedge.com/forum/market-outlook-0
I think that the dollar stabilizes and maybe rallies a bit more on this data, but I think we're still a ways off on the unwinding of the dollar carry trade.
Uh, bond yields are on fire. The timing is BAD for the Treasury offerings next week (10yr and 30yr are on deck). If more chum (unexpected good news) hits the water then the CDS crisis of '08 may have to take a backseat to an IRS (Interest Rate Swap) meltdown in 2010.
If I were part of the PPT then my recommendation to the rest of the 'team' would be to keep a box of gernades nearby for an ocasional toss into the stock market.
Dead on about the bad timing for Treasury with the huge auction on deck, but dollar stabilization and bigger yields should help attract foreign buyers.
Could it be that the rumor the Japanese were going to start selling treasuries led the government to goose today's job's data as a way to intentionally attract foreign buyers?
I like you're thinking, but this was probably in the works for a while.
Great point. My suspicious side wonders if this is another set-up. Big gap up, volume drops off, then shake things hard later today or monday to support the auctions?
It's a "Sham-Wow" boy that Obama is good
Well we all knew the DX would chirp again one day-most probably cooked employement books are driving "investors" to the US recovery and of course that means the recovering country's currency is more legit. Remember, gold was in a 9 year slump in the 90's during the go-go years-despite real inflation. Gold does poorly in times of economic strength. Now, we also all know this is just an xmas rally. The employment numbers are probably from temporary retail hiring for the xmas season. Most likely downturn will occur in the dog days of pre-tax season. when people see their stocks and secure a tax loss writeoff.
If gold corrects, I would use this as a buy opportunity in the junior sector.
This week 2 Fed heads hinted that interest rates should rise. What better way to prove their point and get the wheels for such a move greased.
Keynesian models and thought process have to have inflation to work but yet that is why it eventually fails,,, but... In the mean time the folks at the FED get filthy fucking rich..if they can hold things together until 2013 that's a 100 year run, pretty darn good and the families involved should have made enough to allow for a 100 years of down time until they invent the next fleece job.
CNBC just posted this lead article....
Jobs Report: 'Numbers Are Almost Too Good to Be True'
One doesn't even to make this stuff up anymore...
No, they make it up for the sheeple...Right now our clueless leader is rallying the masses on TV...same script, same blame, same BS...
The reactions of these economists are outrageous. http://blogs.wsj.com/economics/2009/12/04/economists-react-game-changer-...
Game changer? .2%? Seriously?
These unemployment numbers look not to be as good as headlined IMO. I am seeing a lot of negative numbers. Construction lost 27K jobs. Manufacturing losy 41K. Trade, transportation and utilities lost 34K. Retail lost 14.5K. Transportation and warehousing lost 5.3K jobs. Information lost 17K (I am just going down the list so far, not just picking up losses) Financial activities lost 10k.
Then you get to professional and business services. They added 86K jobs. Biut more specfically under that heading is 'administrative and support services', they gained 86,900 jobs. Temporary help was 61,000 of those jobs.
Education and health services added 40K jobs. Leisure and hospitality lost 11,000. Other Services lost 3,000. Government gained 7,000.
Thank goodness for temporary help.
http://www.bls.gov/news.release/empsit.t14.htm
At a quick glance, there's something that I'm not getting here. Maybe someone can enlighten me.
The economy had a net loss of 11,000 jobs, yet it seems that all the unemployment rates have gone down. I could see U-3 going down, for instance, if even more than 11,000 people fell out of those ranks from being unemployed for too long or becoming discouraged and no longer job hunting, but I would then expect a comparable increase in the U-6, for instance.
Why would a net loss of 11,000 jobs not show up in any of the U- categories?
I'll take a stab at this:
Numerators and denominators. These reports are based on who is considered in the possible workforce. If the denominator goes down (those possible workers who rolled off this report and into the extended emergency benefit numbers [no longer counted in the workforce) the numerator gets divided by a smaller denominator and comes up with a more modest ratio of who is unemployed. 11,000 losses got buried in the loss of the denominator.
In a nutshell, yes. A similar situation occured in July, also.
Seems reasonable. According to
http://4.bp.blogspot.com/_nSTO-vZpSgc/Sxkn8yQhpLI/AAAAAAAAHY4/qhvG4rfHns...
the civilian labor force fell by 98K.
Seems reasonable. According to http://4.bp.blogspot.com/_nSTO-vZpSgc/Sxkn8yQhpLI/AAAAAAAAHY4/qhvG4rfHns..., the civilian labor force fell by 98K.
I am screwed up wrong on the above. No one seems to give a sh!t or notice. Smaller denominator makes the unemployed stat bigger, not smaller.
Population of Smallsville October = 1000
100 unemployed
100/1000 = 10% unemployed
Population of Smallville November = 900
100/900 = 11.1% unemployed
The same 100 could be unemployed but we would get a bigger number not smaller if the population is less.
Can't believe my brain did that.
Honestly, I stopped reading after "Numerators and denominators." I sort of got lost among the ()'s and the []'s and assumed where you were going with it. ;-)
Birth/death model adjustments?
Given that the average revision is around 100,000, who cares about these numbers?
how can U-6 fall if the economy is destroying job (albeit not many) ?
The Obama adminsitration recently released figures on the the Cobra health insurance subsidy for people who lost their jobs since February, they state well over 7 million unemployed are covered by the plan yet HR professionals state less than 40% of those eligible are enrolled. Hmmmmmmmmmmmmm.
Did you hear ... They are planning to drop the 'Labor' from the Bureau of Labor Statistics to reflect the broader role the agency is playing. Kinda of a promotion in DC speak.
ADP National Employment report, Wednesday, December 2, 2009, 8:15 A.M. ET
Nonfarm private employment decreased 169,000 from October to November 2009 on a seasonally adjusted basis, according to the ADP National Employment Report®. The estimated change of employment from September to October was revised by 8,000, from a decline of 203,000 to a decline of 195,000.
http://www.adpemploymentreport.com/pdf/FINAL_Report_November_09.pdf
Website: http://www.adpemploymentreport.com/
ADP National Employment report, Wednesday, December 2, 2009, 8:15 A.M. ET
Nonfarm private employment decreased 169,000 from October to November 2009 on a seasonally adjusted basis, according to the ADP National Employment Report. The estimated change of employment from September to October was revised by 8,000, from a decline of 203,000 to a decline of 195,000.
http://www.adpemploymentreport.com/pdf/FINAL_Report_November_09.pdf
Website: http://www.adpemploymentreport.com/
The Feds don't use ADP and the BLS now gets to account for all the jobs on Recovery.gov
The Ministry of Employment has assigned you a job!
Please report for duty at your local DHS Law Enforcement Aggregation Center for assignment.
-MobBarlessss
Bye bye gold. Time for the ponzi rally to end.
Who says that part-time employees will ever attain full-time status? What a staggering number of underemployed there are!
This may very well prove to be the new economy going forward: just in time employment without benefits or bargaining power.
Welcome to the long awaited fruition of/to the WalMart economy.
Q> What's the difference between a gated community and the Mexican border?
A> The walls are already in place.
So who left out a 1 from today's number?
I'm TF amazed.
If it sounds too good to be true then....
It does seem a bit hard to believe for me. One point that may apply is that some of the delayed infrastructure money is finally being released. One of my portfolio companies won a shit-ton of new business from municipals in the past two weeks that would not have happened without stimulus money bridging the gap. These were supposed to be the temp fix jobs in early '09 though. I foresee some stability then an eventually return to job losses. Double dip in '11?
Wait until February, no one likes to layoff people around the holidays.
yup, exactly, as a former owner of a couple small businesses, and manager of several, I never laid off, reduced hours during the holidays...but come mid January?...numbers were numbers.
I know what "BS" means; but what does the "L" stand for?
I am amongst these spiritually poor, lost, pathetic and oblivious shadows: On campus, on the public transport, in the bars and restaurants, and, at this very moment, in my own home. Never in the history of the world have there been such idlers, such unskilled, uncouth, disrespectful, unresponsive degenerates… and claiming to be educated!!
I invite you: Come to my city, be it Austin or Portland, Boston or Pittsburgh, Columbus or Phoenix… Those of us who have been and have mixed with the young will already know…...........
www.onlineuniversalwork.com
I am amongst these spiritually poor, lost, pathetic and oblivious shadows: On campus, on the public transport, in the bars and restaurants, and, at this very moment, in my own home. Never in the history of the world have there been such idlers, such unskilled, uncouth, disrespectful, unresponsive degenerates… and claiming to be educated!!
I invite you: Come to my city, be it Austin or Portland, Boston or Pittsburgh, Columbus or Phoenix… Those of us who have been and have mixed with the young will already know…...........
www.onlineuniversalwork.com
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