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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

http://www.dailyjobcuts.com
-

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

BURGER KINGS BUY ONE WHOPPER GET A SECOND FOR .55!!!!!!

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.

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