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US Adds 321K Jobs In November, Most Since 2012, Unemployment Rate Remains At 5.8%
If the Fed needed a flashing red light that the time for a first rate hike is overdue, it just got it moments ago when the BLS reported that in November some 321K jobs were added, a 4 sigma beat to the 230K expected, and well above the revised 243K in October. In fact, this was the biggest monthly jobs addition since January 2012!
From the report:
Total nonfarm payroll employment rose by 321,000 in November, compared with an average monthly gain of 224,000 over the prior 12 months. In November, job growth was widespread, led by gains in professional and business services, retail trade, health care, and manufacturing. (See table B-1.)
Employment in professional and business services increased by 86,000 in November, compared with an average gain of 57,000 per month over the prior 12 months. Within the industry, accounting and bookkeeping services added 16,000 jobs in November. Employment continued to trend up in temporary help services (+23,000), management and technical consulting services (+7,000), computer systems design and related services (+7,000), and architectural and engineering services (+5,000).
Employment in retail trade rose by 50,000 in November, compared with an average gain of 22,000 per month over the prior 12 months. In November, job gains occurred in motor vehicle and parts dealers (+11,000); clothing and accessories stores (+11,000); sporting goods, hobby, book, and music stores (+9,000); and nonstore retailers (+6,000).
Health care added 29,000 jobs over the month. Employment continued to trend up in offices of physicians (+7,000), home health care services (+5,000), outpatient care centers (+4,000), and hospitals (+4,000). Over the past 12 months, employment in health care has increased by 261,000.
In November, manufacturing added 28,000 jobs. Durable goods manufacturers accounted for 17,000 of the increase, with small gains in most of the component industries. Employment in nondurable goods increased by 11,000, with plastics and rubber products (+7,000) accounting for most of the gain. Over the year, manufacturing has added 171,000 jobs, largely in durable goods.
Financial activities added 20,000 jobs in November, with half of the gain in insurance carriers and related activities. Over the past year, insurance has contributed 70,000 jobs to the overall employment gain of 114,000 in financial activities.
Transportation and warehousing employment increased by 17,000 in November, with a gain in couriers and messengers (+5,000). Over the past 12 months, transportation and warehousing has added 143,000 jobs.
Employment in food services and drinking places continued to trend up in November (+27,000) and has increased by 321,000 over the year.
The other notable thing: despite a sharp slowdown in actual wage indicators in recent weeks, the BLS also decided that in November average hourly earnings rose 0.4%, double the 0.2% expected, and up from 0.1% previously. In fact, the Additionally, the average weekly earnings increase of 2.4% is now the biggest since August of 2013. We hope someone out there believes this data point.
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Current Layoffs / Closing List: http://www.dailyjobcuts.com
Enough said...
Yep, the number is BS, but Yen absolutely tanked as soon as this hit
Occupy Wall Street denounces NBC's Peter Pan as tool of the oppressor:
http://tinyurl.com/lpbw3rf
So this means Yellen can raise interest rates ... right ... right ...
???
::crickets::
Draghi must be on the phone right now telling Schauble "See! Printing works!".
Uggh. Looks like phyzz is on sale again. OK by me!
Just bought north of 50 grams. I was at the counter when the new price list came un, saved like $6. :)
A lot of folks got some temp. jobs
Don't look now, but oil is tanking!
All those new jobs are paid protesting gigs from OFA, SEIU, the progressive labor party, etc...
Notice they cleared out of Ferguson MO.... wait, only I notice because i live near there...
The Labor Force Participation Rate is unchanged, and still down dramatically from when Dear Leader assumed the throne. Labor force participation rate has been relatively static this year, which all things considerd is a good thing. However, Labor Force Participation Rate matches what it was in March of 1978.
The newly announced employment gains and U6 unemployment numbers are bull shit.
Forward (over the cliff)!
FICTION
The Fed can't raise nothin, start from there and go.
We should celebrate this good news by letting banks bet with our FDIC insured money again! Hooray and get to work congress. There are profits and eventual economy crushing government losses to incur!
Please remain seated until the ride has come to a complete stop.
Classic!
the show was definitely not an "E" ticket but a lot better than protesting in the streets with dem yuts.
My family lived close to Disneyland when I was a kid. We had the old coupon books. A and B tickets were the very easy kiddie rides while D and E tickets were the thrill rides. E was the Matterhorn. Hence - an "E" ticket translates into a thrill.
NoVa
They would kick you out nowadays with if you wore that tshirt.
we did all sorts of crazy stuff that would definitely put us in jail - permanant record type stuff.
I had a fun childhood.
I hope there is a statute of limitations on Amusement Park mayhem?
Makes me want to sell my gold....not
PS: the dolla is rippin higha
Good job all of those Sears stores that are closing don't have any employees.
They hired more employees to handle liquidation than they ever had while they were open
Seriously? Ffs. Comedy, everywhere you look.
USDJPY just went full retard Kamikaze on the news:
http://www.marketwatch.com/investing/Currency/USDJPY/charts
Getting a nosebleed just from watching that pair.
And PMs suffer Yellen-dick. Going to be an interesting day.
"just went"? it looks like they got the news hours ago
I thought the elections were over!
The daily jobcuts site shows that The Deb Shops is about to give up the ghost, file for bankruptcy a second time, bring in the liquidators and send 4,000 employees to unemployment. At the site is this morsel of information: "Lee Equity is the investment firm of Thomas H. Lee, who bought the chain in 2007 during the buyout boom for $395 million." In 2007, Thomas Lee was sued by investors in Refco, an IPO that Lee sold to the public in 2005, just before everyone found out what insiders had already known just before the IPO. That Refco had close to half a billion dollars in off the books liabilities. I wonder what happened to that 2007 federal lawsuit.
Gummint lies, more lies and just plain fabricated, manipulated bullsh*t.
Gummint: ctrl-alr-del
in a 1 time change to the series, the BLS added hookers and crack dealers to the survey, which made up 1.2 MIllion of the 321k increase......
No, they are counted under Business and Professional Services.
In an economic war with Putin, truth is the first casualty. US economic numbers have been massaged to meet the needs of the moment for several decades now.
seasonal hiring
the govt will be quick to explain this away so as to not spook markets into thinking rates are going up anytime soon
Here comes QE 4.
definitely locks in Lower Longer..... If the market thinks there is a chance of a rate hike Stawks will tank, and that is the only goal of Fraud Reserve, hence they have no choice but to site foreign headwinds and say lower longer..... They can Jawbone for a long time before they have to go to QE4...
QE4EVER
When the third quarter GDP was announced it came out that a 10% jump in federal spending, mostly on Pentagon hardware had bolstered growth. This was the biggest increase in federal spending since 2009 when the Obama administration put in place a huge economic stimulus package. Still important economic numbers being released continue to come in below expectations and the stock market remains at historic highs. Please tell me what is so good? What is so much better?
As I see it the weight of carrying a large number of unemployed and people who have dropped out of the work force is wearing society down through attrition. The article below points out some of the glaring flaws in the argument that blue sky lies ahead as the stock market seems to indicate. As I look at a landscape of empty and under-leased buildings that once housed thriving businesses that provided Americans with good paying jobs I'm forced to ask, How are things getting better?
http://brucewilds.blogspot.com/2014/10/tell-me-again-how-things-are-getting.html
rate rise... lol
the lies are getting bolder and bolder lol
who the fuck believes anyting from the tribe/bankers oops i mean the govt
Yes, and the black market activity is getting bigger and bigger.
"Full faith and credit"
check the headline on CNN :
2014 is on track to be the best year for U.S. job gains since 1999. Another 321,000 jobs were added in November. you cant make this stuff up . what a big fucken jokeCorporate Owned Media = Propaganda
Seek the truth or lap up the shit they feed you. Easy choice.
Democrats take asskicking in midterms over economy, lack of wage growth....Viola very next opportunity government bureaucrats decide there is job creation and wage growth after all.
Shit That Was Totally Predictable For $100 Please Alex.
Seems a lot of people picked up a fourth part time job to help pay for Christmas...... good times.... good times.
And there is potential for MOAR. Just a few examples for new jobs that contributed to the NFP-rise:
- Looter (self-employed)
- Bystander-observer
- Foodstamp-redeemer
- Pro-Goverment-demonstrator
- Hooray-sayer
- Fapper (SEC/FED/CFTC employees and relatives only)
Control the message, control the masses...
same as it ever was.
Give us some information we can trade.
In this "mark to fantasy" world everything will be good news, prices will be exactly as they should be...
“Did you know that there are nearly 102 million working age Americans that do not have a job right now? And 20 percent of all families in the United States do not have a single member that is employed. So how in the world can the government claim that the unemployment rate has “dropped” to '6.3 percent'? Well, it all comes down to how you define who is 'unemployed'. For example, last month the government moved another 988,000 Americans into the 'not in the labor force' category.”
http://failedevolution.blogspot.gr/2014/05/already-happens-capitalism-de...
This explains gold and AUD smack down?
Yay!
#RecoveredRecovery
Make that 321,001. I just got hired on as a mall Santa
Buy some white paint for your ass so you are guaranteed a job come Easter
Don't forget temporary Paul Blart's for the mall!!!!
Wow. The economic environment in my area sucks ass. I've never seen so many pizza delivery shops open though. These 321,000 position have to be low, low wage or fictious.
I still am unemployed. Thanks to mexicans that undercut my rate..
I don't like being unemployed. ..it is not fun..
I sleep less and less every night worried ....
Good luck Cuz. I wish you all the best. Just hang in there.
They must be counting all those suburban housewives who are hooking on the side to make ends meet.
Bullshit. Whatever it takes to keep market indices moving in the "right" direction here in slavelandia. Viva Amerika!
prostitutes, waitresses, restaurants, pimps, cleaners, part timers, low wages, way to go Barry, that is how you build an economy, you produce nothing of productive value and on top of that, you have BLS lie their socks off.
TEAM TRIBE doing a good show on breaking down America.
Whores and pimps are high paying jobs
They can make a very good living in DC
Didn't you know it's going to be the waitresses, bartenders, part timers and tourist service industry that's going to fund our next major space and infrastructure rebuilding programs? (Don't forget the raises for Congress).
after a bit, the noise becomes almost like a song, a song of bull shit.
QE is dead.
I agree it's 3....2.....1. .....just not their 321.
This is all going to end badly! The President lies, the FED lies, Central banks are lying..... real money is gold and everyone knows it.... Ask yourself, How can gold/Silver be at lows when stock market is at all time highs with the money inflation the Central banks have printed and continue to do the past 6 years. In addition, interest rates are 0%... in Europe they are -%.
Something is wrong folks!!
Easy answer in terms of Gold and Silver when looking at market numbers. They are rigged.
I am a fucking genius.
Come on mutha fuckas!
Push that long bond down some more!
I am loading up!
Inflation !!!!
Fed says bubbles are financially sound
Funny how these comments are always conveniently timed to cushion any rate increase blowback
8:45a Mester: Fed looking for financial risks, not bubblesLower oil prices, so bad for the economy! Too bad that ZH jumped on that bandwagon.
The next months should provide ample of data to demonstrate what happens when the oil choke collar is removed...
How many of the 321k jobs are part time? I would guess probably 75%.
Does this number incude all the drug dealers and thives?
Well the report does say 20,000 financial services jobs added..... so yeah it includes thieves.
Look at table A-1 not seasonally adjusted. Size of laborforce declined. Participation rate and emp to pop ratio declined. Now go look at table A-9 down at the bottom, part time vs full time. Full time dropped and part time rose. The internals are very ugly.
http://www.bls.gov/news.release/empsit.nr0.htm
Didn't you know that there would be some bogus bullshit this morning for santa claus?
how many barista careers were started this month Tyler?
How is possible that participation rate is same like previous reading but with revised october up and here is beat up also, together over 100k up, unemployment rate is same and in october was down with lower number and same participation?
And look at trade ballance, strong $ not help even with lower oil price.
The more I think about all oil cratering, rallying USD, and manipulated US macro data, the more I believe much of this is being done in a futile attempt to save Japan from the precipice.
Japan doesn't produce oil domestically, it's a huge net importer = cratering oil prices are very net positive
Lower oil prices also help Japanese consumers as oil/gas prices remain relatively tame despite a weakening yen; i.e. consumption, which they are trying to spur, is not pressured by the inflation in oil/gas prices.
And most importantly, Japan needs a big economy to export to--in the eyes of the TPTB, that needs to be the US right now. Having the USD rally strongly in yen terms, makes Japanese goods far more competitive.
I'm not saying any of this will work, nor do I think this is a good idea. The US consumer will NOT come to Japan's rescue, despite this faux economy we live in. I'm just trying to piece together why a stronger dollar, and much weaker oil (killing domestic production), is being so willfully accepted here by TPTB. It seems to me the answer is Japan.
TPTB are not loyal to any country, except Israel.
We were due for a "good news anomaly". That's what it probably is.
OH, come on Tyler. Believing these numbers is like believing the moon is made of blue cheese.
So the disappointing Black Friday numbers were really due to the fact that everyone was working to sell crap?
Hey ZH, the bureau of statistics or the wolves of WS must be doing something right.
Moar jobs!
Wow !
This is what MSM is saying about job creation for millennials :
http://www.businessinsider.com/millennial-job-gains-2014-12
I know, I know, its bizness WTFsider; but what is more imp. is the basis of their statistics.
Victory! 200k seasonal folks added to the great American Recovery. Just don't look in January.
Marry Christmas
Muchelle and Oby.