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146,000 Jobs Added In November, Beat Expectation Of 85,000, Unemployment Rate Lower At 7.7%

Tyler Durden's picture


Looks like Sandy was not an issue at all in the November jobs report which beat in both the number of jobs added, at 146,000 on expectations of 85,000, while the unemployment rate declined to 7.7% from 7.9%, where it was expected to post as well. Watch this space next month for prio revisions: September and October saw 49K downward revisions combined. November will suffer the same fate.



and manufacturing jobs dropped more than expected...


Confused why the unemployment rate dropped? The same, favorite BLS adjustment - a drop in the labor force participation rate which declined by 0.2% to 63.6% once again, as the number of people out of the labor increased by over 540K to 88,883,000.

In terms of quality of jobs, the biggest gain was in retail jobs as expected in part of the Thanksgiving rush, which added +53K jobs, Professional and Business services rose by 43K, of which Administrative and Waste Services was +23K, and Hospitality and Leisure +23K: all los paying jobs. Construction jobs lost: 20K.


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Fri, 12/07/2012 - 09:34 | 3042150 Shocker
Shocker's picture

The job situation still a complete mess..... It is what it is

Complete Layoff/Closing list

Fri, 12/07/2012 - 09:38 | 3042172 Ruffcut
Ruffcut's picture

Being a global economy, we now add those jobs sent to china.

Fri, 12/07/2012 - 09:43 | 3042207 goldfish1
goldfish1's picture

Translation: Keep spending.


Fri, 12/07/2012 - 10:02 | 3042290 ihedgemyhedges
ihedgemyhedges's picture

Could be this: If your business needs 75 full time equivalent employees to run but Obamacare is gonna get you, you take your full time number below 50.  So you hire more people part time to avoid the 50 full time number and VOILA, you have ADDED jobs to the economy but you have HURT your former full time employees who are now part time.

Fri, 12/07/2012 - 10:05 | 3042311 francis_sawyer
francis_sawyer's picture

So I suppose this means that Burger King [to accomodate it's 55 year anniversary 'special' of BUY ONE WHOPPER & GET A 2ND ONE FOR .55 CENTS] has calculated it needs exactly 146,000 new burger flippers to handle the rush...


Fri, 12/07/2012 - 10:06 | 3042316 LawsofPhysics
LawsofPhysics's picture

"Beating expectations",  all... the... way... down...



Fri, 12/07/2012 - 10:18 | 3042379 SamAdams
SamAdams's picture

"As short a time ago as February, the Ministry of Plenty had issued a promise (a 'categorical pledge' were the official words) that there would be no reduction of the chocolate ration during 1984. Actually, as Winston was aware, the chocolate ration was to be reduced from thirty grammes to twenty at the end of the present week. All that was needed was to substitute for the original promise a warning that it would probably be necessary to reduce the ration at some time in April."

Fri, 12/07/2012 - 10:22 | 3042403 francis_sawyer
francis_sawyer's picture

 "Beating Expectations"... Sounds like a lot of jacking off to me...

Fri, 12/07/2012 - 11:22 | 3042685 Hugh_Jorgan
Hugh_Jorgan's picture

Until the number gets revied upward again. Whatever...

Fri, 12/07/2012 - 13:44 | 3043198 eatthebanksters
eatthebanksters's picture

Who do you trust? BLS or Gallup?

Fri, 12/07/2012 - 10:19 | 3042387 fonzannoon
fonzannoon's picture

Yes sir, the truth in those words is stunning.

Fri, 12/07/2012 - 10:18 | 3042381 Joe Davola
Joe Davola's picture

Shouldn't the seasonal adjustment reduce the effect of jobs added for the Thanksgiving retail rush?

Fri, 12/07/2012 - 10:22 | 3042406 goldfish1
goldfish1's picture

Oh Ministry of Truuuth...there's someone asking questions over here...

Fri, 12/07/2012 - 10:54 | 3042519 MassDecep
MassDecep's picture


I'm there Buddy!!!!

Fri, 12/07/2012 - 10:06 | 3042313 ghengis86
ghengis86's picture

So in a nation of ~310 million only ~139 million or 45% are able to work and of those, only ~89 million actually have a job (and that's not differentiating between part time and full time) or 28.7%. And that's using the gov numbers!

Fri, 12/07/2012 - 19:30 | 3044294 Spigot
Spigot's picture

You need to fucking settle down. The Ministry of Truth has spoken. That's all you need to know.

Fri, 12/07/2012 - 09:43 | 3042206 spastic_colon
spastic_colon's picture

the new spin will be that there would have been 300,000 jobs and a rate of 7.0% if not for Sandy

Fri, 12/07/2012 - 09:49 | 3042249 Sudden Debt
Sudden Debt's picture

Why blame anything anymore? Employment is looking like it's the best in over a decade on this goverment sponsored graph!!!


Fri, 12/07/2012 - 10:20 | 3042348 Xibalba
Xibalba's picture

Why would anyone believe a number .gov makes up?!?

Fri, 12/07/2012 - 10:15 | 3042357 jerry_theking_lawler
jerry_theking_lawler's picture

not only is the graphy .gov sponsored, but the money being lent to sponsor growth is .gov owned, healthcare is .gov owned, food is .gov owned, phones are .gov owned..........i could go on and on....basically it's all .gov owned now and that is they way they wanted it.

Fri, 12/07/2012 - 10:21 | 3042394 duo
duo's picture

Obama needs a strong number to claim that the economy can handle the tax rate increase the Repubs won't agree to.

BLS comes through for it's master again.

Fri, 12/07/2012 - 09:43 | 3042208 LongSoupLine
LongSoupLine's picture

As I said earlier...expect a full retard beat.


Fucking horseshit!

Fri, 12/07/2012 - 09:55 | 3042277 Ookspay
Ookspay's picture

This proves once again that numbers are like terrorists, if you torture them long enough you can get them to say anything.

Fri, 12/07/2012 - 10:08 | 3042325 slaughterer
slaughterer's picture

<<shorted into the BS # and now in pain

<<long into the BS# and cynically enjoying the BS

Fri, 12/07/2012 - 10:14 | 3042351 SheepDog-One
SheepDog-One's picture

Bad news is wonderful, great news is just fantastic! Same exact shit as in the 1930's.

Fri, 12/07/2012 - 11:14 | 3042616 ugmug
ugmug's picture

'... the number of people out of the labor increased by over 540K to 88,883,000'

Which means that porn site visits went up by the same amount.

I truly believe that online porn will squelch any political uprisings over unemployment and is the reason why Obama was reelected.

Unemployed porn addicts couldn't find the ambition to pull up their pants and go vote.

Fri, 12/07/2012 - 11:27 | 3042708 Zap Powerz
Zap Powerz's picture

We just need to get to the point where only one person is working and everyone else has "dropped out of the labor force" so that we may have 100% employement!

Pay that one person 16 trillion dollars (approx. GDP) and tax it enough so that everyone still gets their free shit.

We can all take turns being that one person working.

I am amazed no one has thought of this before becuase its fucking brilliant!  I expect a nice representative from the Fed Govt to knock on my door and offer me loads of money for such an amazing idea.  I might even get to part of Obama's Jobs Task Force!!!!!

Fri, 12/07/2012 - 09:35 | 3042151 lizzy36
lizzy36's picture

So QE infinity has been called off?

Fri, 12/07/2012 - 09:36 | 3042163 GetZeeGold
GetZeeGold's picture



Only if we want to commit suicide.

Fri, 12/07/2012 - 09:39 | 3042175 LawsofPhysics
LawsofPhysics's picture

"We" will be just fine, the central banks, TBTFs, and many governments won't be.  Pull the trigger motherfuckers.

Fri, 12/07/2012 - 09:39 | 3042185 Ruffcut
Ruffcut's picture

They have a vaccine for that. Zombies don't care about jobs.

Fri, 12/07/2012 - 10:05 | 3042312 tmosley
tmosley's picture

This seems to be the goal of central bankers, mainstream economists, and the politicians.  National suicide.

Fri, 12/07/2012 - 11:28 | 3042721 Zap Powerz
Zap Powerz's picture

Of course it is.  That has been their goal for decades now.  Killing a nation softly takes a long time my friend. A very long time.

Fri, 12/07/2012 - 09:38 | 3042174 Jumbotron
Jumbotron's picture

So QE infinity has been called off?


Do you see interest rates rising?  

Fri, 12/07/2012 - 09:46 | 3042226 GetZeeGold
GetZeeGold's picture



Only if we want to commit suicide.

Fri, 12/07/2012 - 10:53 | 3042528 SamAdams
SamAdams's picture

Unless a miracle happens to encourage wealth production (not debt, not service but actual tangible goods), then interest rates can never increase.  This is a simple fact.  Raising interest rates at this point would simply hand the remaining assets to the bankers.  This is not their goal as they have no use for this.  Rather, they need us to remain viable.  We are the military aparatus of their NWO, an NWO which is failing at least from the Western hemisphere.  The Asian side is another matter.

Fri, 12/07/2012 - 09:38 | 3042177 max2205
max2205's picture

"full (read part time) employment goal almost there.. Ben will have to raise rates?

Fri, 12/07/2012 - 09:44 | 3042218 max2205
max2205's picture

labor force participation rate which declined
by 0.2% to 63.6% once again, as the number of people out of the labor increased by over 540K to 88,883,000.


 JUST WOW!....

Fri, 12/07/2012 - 09:47 | 3042233 overmedicatedun...
overmedicatedundersexed's picture

if all we do is lie to keep things calm, (and save the skins of the elite), well it's worth it..Motto of BLS.

Fri, 12/07/2012 - 09:51 | 3042259 fonzannoon
fonzannoon's picture

Since we all know QEI can never be called off, my guess is this ensures we go off the cliff so we have our next excuse for slamming the QE accelerator. Plan on having infrequent market shocks from here on out that ensures they never stop.

Fri, 12/07/2012 - 10:30 | 3042439 eclectic syncretist
eclectic syncretist's picture

My guess is this farce of a report was imagineered in order to support going off the cliff, because that would keep the Fed and their reserve notes and associated banksters sustained a little longer at increased taxpayer expense. 

Fri, 12/07/2012 - 09:35 | 3042153 Sandy15
Sandy15's picture

All lies....... you can not have the layoffs that took place after the election and people filing for unemployment claims each week after Sandy and have unemployment drop from last month........  LIES!!!!


Fri, 12/07/2012 - 09:36 | 3042165 1835jackson
1835jackson's picture

So I take it you do not believe the jobs report then?

Fri, 12/07/2012 - 09:35 | 3042154 ShorTed
ShorTed's picture

Goal-seeked seasonably adjusted nonsense.

Fri, 12/07/2012 - 09:36 | 3042157 Stonedog
Stonedog's picture

Does anybody believe these nonsensical numbers...

Fri, 12/07/2012 - 09:39 | 3042168 GetZeeGold
GetZeeGold's picture



Don't see any hands going up....


I'm sure the gang on CNBC will absolutely be giddy.

Fri, 12/07/2012 - 09:45 | 3042217 Being Free
Being Free's picture

just moe BLS BS.  More likely a political setup so team purple can "blame" team purple when reversion to reality kicks in at the bottom of the ravine

Fri, 12/07/2012 - 09:46 | 3042222 asteroids
asteroids's picture

Ditto. Only numbers that matter is income tax collected and number of people on food stamps.

Fri, 12/07/2012 - 09:35 | 3042158 docj
docj's picture

Yeah, that's believable.

But OK, whatever. Since the economy is now, evidently, "fixed" can the Fed.GOV finally, 3+ years into our "Recovery", stop spending in excess of 8% of GDP in deficit?

Fri, 12/07/2012 - 09:35 | 3042159 apberusdisvet
apberusdisvet's picture

I love the smell of bullshit in the morning; it keeps me focussed on reality.

Fri, 12/07/2012 - 09:41 | 3042195 scatterbrains
scatterbrains's picture

apparently gold loves the smell of bullshit in the morning too.. I sense a SPY close below 141.5ish today.  Can we get back to what the damage of rising taxes and spending cuts will bring to this full on economic contraction ?  

Fri, 12/07/2012 - 09:49 | 3042246 Quintus
Quintus's picture

Yeah.  Fancy that!  Gold gets raided on NFP day.  It's an American tradition!

Fri, 12/07/2012 - 09:55 | 3042276 scatterbrains
scatterbrains's picture

I wonder what the Bernank is using as a gauge to determine that his threat of unlimited printing is not enough and that he must actuaully get in there and start pumping again? Is it a certain level on SPX ?  If so does he wait for 1250 or 1150 or 1000 maybe ? Could he just be waiting  until we go over the cliff to start the pumpage ? What's he waiting for ?

Fri, 12/07/2012 - 10:12 | 3042338 GetZeeGold
GetZeeGold's picture



Gold gets raided on NFP day anymore?

Fri, 12/07/2012 - 09:35 | 3042161 mayhem_korner
mayhem_korner's picture



Apparently the BLieS need to continue the campaign until the false flag of the Fiscal Cliff is properly coerced.

Fri, 12/07/2012 - 09:40 | 3042186 ejmoosa
ejmoosa's picture

I am thinking they are saving the losses for nearer the fiscal cliff, so that they can blame the Repulbicans for those losses.

George Orwell, man, you nailed the future years ago!


Fri, 12/07/2012 - 09:36 | 3042164 sbenard
sbenard's picture

Call me a skeptic, even a cynic, but 146,000 jobs created hardly sounds like something to be exuberant about!

Fri, 12/07/2012 - 09:50 | 3042251 mayhem_korner
mayhem_korner's picture



Clearly, you are not an algo...

Fri, 12/07/2012 - 09:36 | 3042167 Confundido
Confundido's picture

So then consumer prices will rise because we are reaching "potential output"? What to do about gold??? Will Bernanke stop QE? Didn't he say QE is to address unemployment and not to finance fiscal deficits or the p&l of banks? I am confundido...

Fri, 12/07/2012 - 10:04 | 3042302 goldfish1
goldfish1's picture

Regular 830 ish PM smackdown.

Fri, 12/07/2012 - 09:37 | 3042169 Stonedog
Stonedog's picture

The change in total nonfarm payroll employment for September was revised from +148,000 to +132,000, and the change for October was revised from +171,000 to +138,000. 

Fri, 12/07/2012 - 09:47 | 3042231 Squid Vicious
Squid Vicious's picture

they have been pulling this off with the claims number for years... worked so well now they are doing it with the payrolls number i guess...

Fri, 12/07/2012 - 09:37 | 3042171 The Master
The Master's picture

LIESman just acted shocked that govt workers was revised downward by 38K....Bernankz just checked to Congress.

Fri, 12/07/2012 - 10:07 | 3042321 SheepDog-One
SheepDog-One's picture

AH yes....people are re-learning that the 'Chosen Ones' are indeed a slippery bunch!

Fri, 12/07/2012 - 09:37 | 3042173 fonzannoon
fonzannoon's picture


7.7% unemployment.

Bernak going to have to stop that QE and start talking about raising rates. I hope he can act quick enough to keep growth in check.


Fri, 12/07/2012 - 09:46 | 3042227 Wynn
Wynn's picture

15 minutes

Fri, 12/07/2012 - 09:39 | 3042178 MittRomney2012
MittRomney2012's picture

FFS. You conspiracy theorists have been saying the numbers are lies from 9%+ unemployment.



Fri, 12/07/2012 - 09:40 | 3042191 Quintus
Quintus's picture

540k people left the labour force in this report.  Really?  Al those wealthy folks just retired to sit on the beach?


Fri, 12/07/2012 - 09:49 | 3042244 Dr. Engali
Dr. Engali's picture

540,000 people getting the fuck out of the country.

Fri, 12/07/2012 - 10:18 | 3042380 jerry_theking_lawler
jerry_theking_lawler's picture

nope. 540k people wising up and going out on disability, signing the family up for chips & medicare/caid, getting SNAP, and then going for work on a cash basis......this way they will wind up 'wealthier' than before.

Fri, 12/07/2012 - 10:30 | 3042443 Everybodys All ...
Everybodys All American's picture

as the number of people out of the labor increased by over 540K to 88,883,000.

at this rate...unemploment will be < 4.0% and no one will be working.

Fri, 12/07/2012 - 09:41 | 3042194 GetZeeGold
GetZeeGold's picture



Dude....I'm sure everything is fine.....relax amigo.

Fri, 12/07/2012 - 09:42 | 3042200 fonzannoon
fonzannoon's picture

This was Brilliance by O. Nice number is the set up to going off the cliff and saying "Look we had everything clicking and then...."


Fri, 12/07/2012 - 09:44 | 3042215 mayhem_korner
mayhem_korner's picture



While I agree with the motivation, I threw up in my mouth a bit when you ascribed brilliance to Barry.  Sorta like referring to Michelle as "sweet."

Fri, 12/07/2012 - 10:16 | 3042372 goldfish1
goldfish1's picture

Brilliance by O.


Cmon, the guy can barely remain cognizant of the topic without cue cards.

However, the man behind the curtain certainly knows the agenda.

Fri, 12/07/2012 - 09:42 | 3042201 mayhem_korner
mayhem_korner's picture



In terms of reality, the US hasn't gotten back down to 9% unemployment yet.  You may not be familiar with this nouveau discipline called "math," but reducing the numerator of a ratio (via "dropped out of workforce" in this case) always reduces it.  Really.

Fri, 12/07/2012 - 09:43 | 3042210 Dr. Engali
Dr. Engali's picture

First of all 146,000 barely even covers new entries into the workforce let alone bring down unemployment. If you look at U-6 it tells a different story.

Fri, 12/07/2012 - 09:52 | 3042262 mayhem_korner
mayhem_korner's picture



It's also barely enough mall cops to tend the masses that stormed the gates of WalMart on black Friday.  Come to think of it, I bet these were all mall cop jobs...

Fri, 12/07/2012 - 10:11 | 3042333 Coldsun
Coldsun's picture

Obama's economic savior is Paul Blart? Seems about right...

Fri, 12/07/2012 - 10:11 | 3042336 Shizzmoney
Shizzmoney's picture

No wonder incomes fell: Retail employment has grown 140,000 over the last three months

Fri, 12/07/2012 - 09:57 | 3042280 pods
pods's picture

Doc, have you not realized that nobody is interested in reality anymore?

Fantasy is so much more fun.  Kind of like the books I read as a kid, those choose your own adventure books.  Now we have choose your own reality.

Now, if you will excuse me, I have to go clean out my unicorn's stall.  


Fri, 12/07/2012 - 10:06 | 3042314 fonzannoon
fonzannoon's picture

My unicorn shits gold coins. Sorry about your unicorn stall situation.

Fri, 12/07/2012 - 10:12 | 3042341 squib
squib's picture

*hands clapping

Bravo noonzie, well played!

Fri, 12/07/2012 - 10:14 | 3042350 mayhem_korner
mayhem_korner's picture



+1 Does that mean you need to occasionally clean out your unicorn's colon?

Fri, 12/07/2012 - 10:22 | 3042405 fonzannoon
fonzannoon's picture

I keep a little seat in my stall and I just stare at it while I sit here and comment until the next one pops out. Quite the life I live.

Fri, 12/07/2012 - 09:38 | 3042179 mayhem_korner
mayhem_korner's picture



The Vegas line on the January reconciliation is -490,000 vaporized jobs.

Oh, I forgot, the world will be ended before then.  Time to unwind...

Fri, 12/07/2012 - 09:59 | 3042287 pods
pods's picture

You have to admit, it is a good scam.  Bullshit for 11 months, then slip in the truth when nobody is looking.


Fri, 12/07/2012 - 09:38 | 3042182 The Gooch
The Gooch's picture

Damn, I was hoping for the deer today...

Fri, 12/07/2012 - 09:39 | 3042184 Mark Wilson
Mark Wilson's picture

"More shortly."

Translation: Need a few minutes to put negative spin on the numbers. :D

Fri, 12/07/2012 - 09:44 | 3042213 Cursive
Cursive's picture

@Mark Wilson

Let's hear your positive spin on record SNAP participation, falling participation rates, rising student loan delinquecies, and unprecedented monetization by the Fed and global central banks.  Let's hear it, Mark.

Fri, 12/07/2012 - 10:10 | 3042329 Cursive
Cursive's picture

...and no reponse from Mark Wilson.  It's hard to believe in a "recovery" when all of the sunshine pumpers don't want to take the easy money punchbowl away and won't talk about the generational theft of higher debt today to be paid by our grandchildren's grandchildren's grandchildren's....

Fri, 12/07/2012 - 10:12 | 3042344 Mark Wilson
Mark Wilson's picture

My BAC LEAPS are up nicely! Will that do?

Fri, 12/07/2012 - 09:47 | 3042237 mayhem_korner
mayhem_korner's picture



Markie...if you had some awareness, you'd know that every time the UE numbers come out, Tyler posts the headline and then re-posts with some analytics.  ZH is among the very fastest to decompose the numbers. 

I will urge my ZH compatriots to reserve the top comment slot for Mr. Mark to rebut the post that follows.  I'm sure he'll do just fine...

Fri, 12/07/2012 - 09:40 | 3042187 DavidC
DavidC's picture

have to say, I didn't think they would let the last figure before Christmas be a bad one, got to get everyone feeling good and spending. I had a short position (the princely gain of 10 points on the Dow) that I closed out before the figures were released, just in case.


Fri, 12/07/2012 - 09:41 | 3042190 lizzy36
lizzy36's picture

The revisions are interesting. Odd that the government can't count their own jobs and government employment revised down last month to -51k for -22k.

Those Chicago guys are tricky.

Fri, 12/07/2012 - 09:41 | 3042196 azengrcat
azengrcat's picture

Obamacare burger flipper reshuffle.

Fri, 12/07/2012 - 09:42 | 3042199 Jumbotron
Jumbotron's picture

I'm sorry.  But is it just me...or do I see a peak and a bit of a roll off in the line chart from the Crash until today?


That is to say...if going by the trend...that things are actually beginning to look weaker?

Fri, 12/07/2012 - 09:46 | 3042224 Cursive
Cursive's picture


I see that as well, but don't expect anyone in the MSM or financial press to talk about it.  Please ignore the 800 pound gorilla staring at you.

Fri, 12/07/2012 - 09:42 | 3042202 Serfs Up
Serfs Up's picture

MMMMmmmmmm....another magically delicious number!


It drives stocks up and gold down....what could be tastier to the Financial Industrial Complex than that?

Fri, 12/07/2012 - 10:43 | 3042488 docj
docj's picture

Looks like the corn-holing of shiny stuff didn't last too long. Perhaps someone, like a human, actually, you know, read the report and sniffed-out that the only reason for the positive headline number is that we "disappeared" over half-a-million fellow-humans?

Given the tendencies of this particular bunch of Chicago thugs I can only wonder when this statistical "disappearing" will become actual disappearing.

Fri, 12/07/2012 - 09:43 | 3042205 ejmoosa
ejmoosa's picture

You know the lies have now gotten so bad, there will be no returning to the truth.  Begin asking yourself how they are going to keep the truth from EVER coming out.  Because that is what is going to matter as we go forward with this Fabian Socialism.

Fri, 12/07/2012 - 09:44 | 3042212 LawsofPhysics
LawsofPhysics's picture

So no more QE then?

Fri, 12/07/2012 - 09:44 | 3042214 Sandy15
Sandy15's picture

Look at 5 min charts........  everything flying up with little to no pull back but the dollar barely inching up and you people that believe this is a recovery are giddy...... Please wake up sheeple!!!!!  The Bernack is still pulling your chains......

Fri, 12/07/2012 - 09:47 | 3042229 d edwards
d edwards's picture

Part time seasonal workers.

Fri, 12/07/2012 - 09:45 | 3042220 Zgangsta
Zgangsta's picture

In other news, the ritual 8:40am PM smackdown is on like Donkey Kong!

Fri, 12/07/2012 - 10:02 | 3042298 Non Passaran
Non Passaran's picture

Not bad, I haven't sold any and now I will buy more...

Fri, 12/07/2012 - 09:45 | 3042221 bullmkt
bullmkt's picture

sorry really hoped for tankage doom and gloom.but the market is up up sorry your stopped out!

watch out for dow 15 k.Meanwhile you can continue with your "scariest e-mini chart,margin calls to hit the market,and chief redemption officer being sooo busy."

Fri, 12/07/2012 - 09:50 | 3042257 LawsofPhysics
LawsofPhysics's picture

So no more QE then?

Fri, 12/07/2012 - 10:03 | 3042303 mayhem_korner
mayhem_korner's picture



I can't wait for Dow 15k.  That means gold 2400.  Cuz the dow hasn't kept up with gold in how many years???  What you see as the Dow rising is nothing more than the unit of its measure being diluted.  When you wake up to that reality - that every time the Dow returns X% the dollar's purchasing power has lost more than X% - then we can have a real conversation.  You cannot get over your perception that the dollar is real money, and so you follow the meme like a dog follows the meat truck...

Fri, 12/07/2012 - 09:46 | 3042225 monopoly
monopoly's picture

And they sell gold on this absurd report. Brilliant!

Fri, 12/07/2012 - 09:50 | 3042256 d edwards
d edwards's picture

Labor force participation rate at 1982 levels! Hot damn, THAT'S progress!

Fri, 12/07/2012 - 09:47 | 3042232 Stonedog
Stonedog's picture

And how many of these were seasonal jobs or jobs working flipping burgers????

Fri, 12/07/2012 - 10:30 | 3042438 Coldsun
Coldsun's picture

According to the government math: 512%

That's a good number right?!?!?

Fri, 12/07/2012 - 09:47 | 3042236 Schmuck Raker
Schmuck Raker's picture

You just can't make this shit up.

But They can.

Fri, 12/07/2012 - 09:48 | 3042239 Piranha
Piranha's picture

Great, not much time now until everyone participating in the labormarket has a job!

Fri, 12/07/2012 - 09:50 | 3042254 Quintus
Quintus's picture

Yes, both people.

Fri, 12/07/2012 - 10:33 | 3042454 Coldsun
Coldsun's picture

They'll just change the definition of employed to a person receiving a check, even government entitlements. Afterall [extended unemployment, welfare, SNAP, etc.], it's an economic stimulus right?

Fri, 12/07/2012 - 09:48 | 3042241 Oldballplayer
Oldballplayer's picture

Half a million people just fell off the rolls? These guys could give the nazis lessons in making people "disappear."

Fri, 12/07/2012 - 09:49 | 3042252 Manthong
Manthong's picture

"C'est la vie"..

I’ll just have another of those delicious Ponzi donuts.

Fri, 12/07/2012 - 11:37 | 3042765 earleflorida
earleflorida's picture

i say ole boy... would you prefer one of our own in-house fairy-dusted, hopium glazed, and guilt free,  bavarian creamed du`jour delights? 

Fri, 12/07/2012 - 09:49 | 3042245 LawsofPhysics
LawsofPhysics's picture

"people out of the labor increased by over 540K"


Take a second to think about that.  The number of people who said "fuck it" increased by 3.5 times the number of jobs added.

Seeking their fortune in the black market no doubt as people don't simply "dissappear" (all government intervention aside).

I remain long black markets and personal security companies.

Fri, 12/07/2012 - 09:56 | 3042279 pazmaker
pazmaker's picture

Bingo!    so now we have 88,853,000 people not in the labor pool!! It's astounding!

Fri, 12/07/2012 - 10:33 | 3042449 Everybodys All ...
Everybodys All American's picture

unemployment rate goes to zero and no one will be working.

Fri, 12/07/2012 - 10:35 | 3042459 Shizzmoney
Shizzmoney's picture

I'm pretty much resinged that if I ever lose my job, I'm going to probably have to become a "marijuana inventory distributor".

Fri, 12/07/2012 - 11:31 | 3042744 Zap Powerz
Zap Powerz's picture

We are becoming Greece in more ways than one.  Greece ha(d) a thriving black market because no one wanted to pay taxes.

I have no faith in governments.  I have all the faith in the world in human nature.  It never ever fails me.  It is as predictable as the sun coming up in the morning.

Fri, 12/07/2012 - 09:50 | 3042247 Shizzmoney
Shizzmoney's picture

Wait, so we don't have to actually create jobs to cut down the UE rate?

If that's the case, the government will need to start killing people off soon to keep their Wall St masters (who trade on this news), happy.

Fri, 12/07/2012 - 11:33 | 3042749 Zap Powerz
Zap Powerz's picture

You dont have to kill them.  You just dont count them.  If you dont count them, they dont exist.

Fri, 12/07/2012 - 09:58 | 3042248 rwe2late
rwe2late's picture

 think we need more info: 

F/T vs P/T

average wage rate of new jobs

& recent history for comparison

 From the BLS preview article posted at ZH:

"the broader mainstream media will continue to focus purely on the quantitative aspect of the report, while the real story over the past 3 years has been a qualitative one: a shift to lower paying jobs, a painfully slow (if any) rise in average hourly earnings, a transformation of the US labor pool to "Just In Time" inventory as virtually all new hiring needs are met by temps, and finally a secular shift to an older labor force, as job creation in the 25-54 category since January 2009 is still negative!"

Fri, 12/07/2012 - 10:04 | 3042305 Shizzmoney
Shizzmoney's picture

Putting these numbers together means the current gap in the labor market is 9.0 million jobs.

To put that number in context: filling the 9 million jobs gap in three years—by fall 2015—while still keeping up with the growth in the potential labor force, would require adding around 330,000 jobs every single month between now and then.

Fri, 12/07/2012 - 09:51 | 3042255 ekm
ekm's picture

This is simply a tool that Obama is using to win the "fiscal cliff war".

He did the same thing before elections.


Move on. Nothing new.

Fri, 12/07/2012 - 09:53 | 3042267 ekm
ekm's picture

Regardless of how hard are the Primary Dealers trying to lure suckers, the fact of the matter is that the suckers have or are retiring and need money for medical care during the most unproductive part of their lives.


Again, move on, nothing new.

Fri, 12/07/2012 - 09:58 | 3042286 fonzannoon
fonzannoon's picture

EKM I did not junk you, but I am not sure about that theory. There are trillions of dollars in money markets and bank deposits. Granted, those people have made it clear they have no intent on gambling in the markets. But, if they can mindscrew these people into thinking the water is warm, there are plenty of suckers yet to be born, no?

Fri, 12/07/2012 - 10:09 | 3042322 ekm
ekm's picture


Food and energy costs trillions of dollars also. Those trillions there are NOT nearly enough to keep somebody over 50 yrs old going and they know it.


If they gamble it, they know pretty well that they'd end up on soup lines. It's over.

The only thing that may make some of that money back into the casino, is if DOW goes down to 7000. Anything higher than 7000, it's just too, too, too expensive.

Fonz, food, energy, stocks are just too expensive. Simple supply/demand calc.

Fri, 12/07/2012 - 10:15 | 3042354 fonzannoon
fonzannoon's picture

"Those trillions there are NOT nearly enough to keep somebody over 50 yrs old going and they know it."

Completely Agreed, but......but.....if the Market has been up double digits 3 out of the last 4 years.....and my bank is paying me 0%.........


Fri, 12/07/2012 - 10:17 | 3042370 ekm
ekm's picture

Keep the zero.

When the market craters, Zero is way, way better than -1000000000000000


That's when you buy stocks.

Fri, 12/07/2012 - 10:20 | 3042391 GetZeeGold
GetZeeGold's picture



Count yourself lucky....I went in the hole on that deal.

Fri, 12/07/2012 - 10:31 | 3042444 ekm
ekm's picture

Sorry to hear that.

Fri, 12/07/2012 - 10:38 | 3042474 ekm
ekm's picture

I've seen more and more seniors working at Tim Hortons and McDonalds here in Ontario.

So, let's use logic. Why do they need to go back to work few hours? Why don't they gamble in the stock market?

Fri, 12/07/2012 - 11:28 | 3042720 fonzannoon
fonzannoon's picture

The people you are talking about have no assets to put in the market to begin with. They are not pertinent to this. There are however some people left, who quit the casino, that will probably be forced kicking and screaming back into it.

Fri, 12/07/2012 - 12:12 | 3042891 ekm
ekm's picture


You have wife and daughter my friend, I don't.

I can afford to gamble, but still don't because I see what's happening.


Choice is yours. Life is a choice.

I'll be back into stocks once dow hits 7000.

Fri, 12/07/2012 - 09:50 | 3042260 sbenard
sbenard's picture

Dr. John Hussman reminds us that employment is one of THE most lagging of lagging indicators.

He repeatedly points out in his weekly commentary that in past recessions, employment figures that were initially shown to be robust, were revised sharply downward in subsequent months -- just as was done today with the September and October figures. The better indicator of economic activity is measured by revisions of previous months, NOT the headline from the current one. By that measure, these figures today point toward sharp contraction!

Fri, 12/07/2012 - 10:10 | 3042327 nantucket
nantucket's picture

sbenard - correct...Hussman points out that the reported job gains at the start of recessions typically get revised and those nice (estimated) gains are later vaporized into job losses (reality).

Chew on these data:

August 1990: BLS reported that 480,000 total jobs were created. The revised data as it stands today, are a loss of 81,000 jobs for that period.

Early 2001: BLS reported non-farm payrolls gain of 105,000 jobs during January-April 2001.  The revised data now shows a loss of 262,000 jobs.

Early 2008: BLS reported non-farm already deteriorating with a cumulative job loss from February-May of 248,000 jobs. The revised figures show a loss of 577,000 jobs for the same period.

Fri, 12/07/2012 - 09:53 | 3042264 BrigstockBoy
BrigstockBoy's picture

Need to boost headline figure so sheeple feel comfortable ringing those holiday registers! After the new year they'll bring the revisions...right about when credit card charges are due. Debt servitude.

Fri, 12/07/2012 - 09:52 | 3042266 SmoothCoolSmoke
SmoothCoolSmoke's picture

Despite all our ZH rage, we are still just rats in cage.   Sorry..... da truth, she hurt sometime.



Fri, 12/07/2012 - 09:56 | 3042278 Dr. Engali
Dr. Engali's picture

Sucks but it's true.

Fri, 12/07/2012 - 10:33 | 3042452 ekm
ekm's picture

Patience. Be patient.

Fri, 12/07/2012 - 10:39 | 3042472 forwardho
forwardho's picture


Fri, 12/07/2012 - 09:54 | 3042272 grunk
grunk's picture

I have hired 4 new people for my unicorn breeding operation.

My brother added another 6-7 to help him rebuild rainbows damaged by hurricane sandy.

Fri, 12/07/2012 - 11:04 | 3042573 nantucket
nantucket's picture

now that's some funny stuff right there

Fri, 12/07/2012 - 11:12 | 3042625 Disenchanted
Disenchanted's picture



I'm gonna hire me some laid off Citi folk and start a shittle shoveling business cleaning out unicorn stalls. WooHoo, I'll be rich!


shittle = unicorn shitted skittles

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