Author Topic: Unemployment Falls to 7 Percent as 203,000 Jobs Added  (Read 331 times)

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Offline mystery-ak

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Unemployment Falls to 7 Percent as 203,000 Jobs Added
« on: December 06, 2013, 08:47:07 AM »
http://www.newsmax.com/PrintTemplate.aspx?nodeid=540399


Newsmax
Unemployment Falls to 7 Percent as 203,000 Jobs Added
Friday, December 6, 2013 08:41 AM

By: CHRISTOPHER S. RUGABER

A fourth straight month of solid hiring cut the U.S. unemployment rate to a five-year low of 7 percent in November, an encouraging sign for the economy.

The Labor Department says employers added 203,000 jobs, nearly matching October's revised gain of 200,000. The job gains helped lower the unemployment rate from 7.3 percent in October.

The strengthening job market is likely to fuel speculation that the Federal Reserve may start to scale back its bond purchases when it meets later this month.

The economy has now generated an average of 204,000 jobs from August through November. That's up from 159,000 a month from April through July.

Many of the November job gains were in higher-paying industries. Manufacturers added 27,000 positions, the most since March 2012. Construction firms gained 17,000.

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Offline Chieftain

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Re: Unemployment Falls to 7 Percent as 203,000 Jobs Added
« Reply #1 on: December 06, 2013, 10:12:16 AM »
ysh...lots of temp sales jobs firing up for the Holiday rush, and all of these gains will be reversed in January.


Offline rangerrebew

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Re: Unemployment Falls to 7 Percent as 203,000 Jobs Added
« Reply #2 on: December 06, 2013, 11:03:34 AM »
At least those are the figures given us by the always trustworthy Obama administration. :3:
America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves. Abraham Lincoln

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Offline mystery-ak

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Re: Unemployment Falls to 7 Percent as 203,000 Jobs Added
« Reply #3 on: December 06, 2013, 11:22:16 AM »
http://www.nationalreview.com/corner

 A Nice November Jobs Surprise
By  Robert Stein
December 6, 2013 10:57 AM


The labor market surprised to the upside in November, showing a lack of damage from the government shutdown. Nonfarm payrolls grew 203,000 in November after gaining 200,000 in October. Private-sector payrolls expanded 196,000 in November after gaining 214,000 in October.

The big negative for October was a 735,000 drop in civilian employment, an alternative measure of jobs that includes small business start-ups and which is measured at a different time of the month than the payroll survey. That figure rebounded 818,000 in November. Largely as a result, the unemployment rate dropped to 7 percent, a new low for the recovery. However, after dropping 720,000 in October, the size of the labor force only rebounded 455,000 in November, and is still below the levels of a year ago. This suggests the potential of a further rebound in the labor force in December/January, which may push the jobless rate back up slightly (or prevent it from falling further) in the short-term.

Apart from the good headlines – better than expected payrolls and a large drop in the jobless rate – the details of the report were also good. Total hours worked increased 0.5 percent, and are up 2.4 percent from last year.  Average hourly earnings rose 0.2 percent, and are up 2 percent versus a year ago. Combined, this means total cash earnings are up 4.4 percent in the past year, or about 3.2 percent adjusted for inflation. This is more than enough for workers to keep pushing up spending, particularly in an environment where their financial obligations are low relative to income.

Also, once again a new report destroyed one of the recent negative stories about the job market: Part-time employment dropped for the fourth month in a row, and is now down 137,000 from a year ago.

The labor market could and would be doing better with a better set of public policies. But it is still improving. In the past year, nonfarm payrolls have grown at an average monthly rate of 191,000 while civilian employment is up 82,000 per month. Over time, these two rates of job growth should converge and the pace of growth in civilian employment is likely to accelerate.

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Offline Chieftain

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Re: Unemployment Falls to 7 Percent as 203,000 Jobs Added
« Reply #4 on: December 06, 2013, 11:23:52 AM »
All of it is subject to significant revision in the coming weeks, and it will be at least a month before we can prove this is all BS.



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