Unemployment increases to 9.8% after poor jobs report

[PeshakJang]

http://www.marketwatch.com/story/nonfarm-payroll-up-39000-in-nov-rate-at-98-2010-12-03

WASHINGTON (MarketWatch) -- Job growth unexpectedly stalled in November, the Labor Department said Friday. Total non-farm payrolls increased a slim 39,000 in November, much lower than the 155,000 gain expected by Wall Street economists. The unemployment rate moved up to higher to 9.8% in November from 9.6% in the previous month. Economists forecast the unemployment rate to hold steady at 9.6%. This is the highest unemployment rate since April. Average hourly earnings were essentially unchanged at $22.75. Economists had been expecting a 0.2% gain. Earnings are up 1.6% in the past year. The average workweek was steady at 34.3 -hours.

Got some good reports earlier in the week, it's unfortunate that this report was so far below expectations. You would expect that with the better outlook for retail this year, businesses would see it as an opportunity to start expanding again, but it looks like there is still too much uncertainty for them to commit.

 

[Hayabusa Rider]

Labor is too cheap abroad. We can't accept the same rate of pay because the price of living hasn't decreased. This is the new norm.

 

[Thump553]

This report was quite a negative surprise. Expect the stock market to tank today, especially following two excellent up days.

 

[PokerGuy]

Hope! Change! Summer of Recovery! We need to pass this porkulus plan now so unemployment doesn't reach 9%

Things will not get any better until this administration is out of office and the raging anti-business democrat leaders are out of congress.

 

[DesiPower]

Labor is too cheap abroad. We can't accept the same rate of pay because the price of living hasn't decreased. This is the new norm.

This. and then the braindead liberals wants to spend more money in the "short term" to grow the economy in the long term. Hey fvcktrds, jobs are being shipped overseas like there is no tomorrow. Unless you stop that and start bringing jobs back, you will never lower unemployment coz most ppl dont know anything better to do and cant be "trained" in "high skill" jobs either thanks to the public school system.

 

[Vette73]

This. and then the braindead liberals wants to spend more money in the "short term" to grow the economy in the long term. Hey fvcktrds, jobs are being shipped overseas like there is no tomorrow. Unless you stop that and start bringing jobs back, you will never lower unemployment coz most ppl dont know anything better to do and cant be "trained" in "high skill" jobs either thanks to the public school system.

So its the "libs" fault yet this was all happening while republicans had control of the house, senate, and WH.

Funny I can't seem to find your post of rage against them when they were in power?

 

[her209]

Lets cut taxes for teh rich!

 

[EagleKeeper]

This. and then the braindead liberals wants to spend more money in the "short term" to grow the economy in the long term. Hey fvcktrds, jobs are being shipped overseas like there is no tomorrow. Unless you stop that and start bringing jobs back, you will never lower unemployment coz most ppl dont know anything better to do and cant be "trained" in "high skill" jobs either thanks to the public school system.

So its the "libs" fault yet this was all happening while republicans had control of the house, senate, and WH.

Funny I can't seem to find your post of rage against them when they were in power?

Was it the Repubs that stated: Give us this money so we can keep the unemployment rate below 9%.

The Dems have held congress for 4 years and the government for 2. What have they accomplished throwing good money after bad. They know why and refuse to do anything about it other than wring their hands and slap a few bandaids.

The previous Republican way may not have worked; the current Dem way is not working. Throw out the playbook and get fresh ideas from the people that actually may know something about making jobs

 

[Fear No Evil]

Lets cut taxes for teh rich!

Might work better than what Obama has been doing.

 

[EagleKeeper]

This report was quite a negative surprise. Expect the stock market to tank today, especially following two excellent up days.

Something funny:

stock price $ change % change
DJIA 11,362.41 +106.63 +0.95
NASDAQ 2,579.35 +29.92 +1.17
S&P 500 1,221.53 +15.46 +1.28

 

[Vette73]

Was it the Repubs that stated: Give us this money so we can keep the unemployment rate below 9%.

The Dems have held congress for 4 years and the government for 2. What have they accomplished throwing good money after bad. They know why and refuse to do anything about it other than wring their hands and slap a few bandaids.

The previous Republican way may not have worked; the current Dem way is not working. Throw out the playbook and get fresh ideas from the people that actually may know something about making jobs

So the Dems have had control for 2 years yet it’s their fault?

Yea I keep for getting all these problems happened in the last year or so. Oh wait. :hmm:

 

[Acanthus]

Hope! Change! Summer of Recovery! We need to pass this porkulus plan now so unemployment doesn't reach 9%

Things will not get any better until this administration is out of office and the raging anti-business democrat leaders are out of congress.

If you think that simply changing leadership will change the market... you are deluded.

There are a lot of long-term systemic problems perpetuated by both sides that have created this issue (unemployment).

 

[jrodson69]

Surprise, Surprise. What a "Recovery Summer" we had, eh?

Business will not invest and expand with big tax hikes looming on the horizon.

 

[Acanthus]

Might work better than what Obama has been doing.

No, it wouldn't.

 

[Vette73]

This report was quite a negative surprise. Expect the stock market to tank today, especially following two excellent up days.

Market is based on how much a company makes, not if people are employeed.

If the 9.X% of people buy/use little of what a company makes/does then it will not affect their bottom line much.

i.e. Market is up as of now.

 

[drebo]

Something funny:

stock price $ change % change
DJIA 11,362.41 +106.63 +0.95
NASDAQ 2,579.35 +29.92 +1.17
S&P 500 1,221.53 +15.46 +1.28

Inflation's a funny thing, isn't it?

Too bad a 12k DJIA today isn't worth an 8k DJIA 10 years ago.

 

[Acanthus]

Surprise, Surprise. What a "Recovery Summer" we had, eh?

Business will not invest and expand with big tax hikes looming on the horizon.

Are there really businesses out there that stake their investments on 3% tax rates and the risk vs reward?

Is this really the scenario you imagine?

Sony CTO: We would like to make a new camera at a new facility. Our new proprietary technology will give us a far superior product for a great price with a nice take for us. How about it accountants?
Sony CFO: Sorry, we can't expand right now because taxes are going to go up 3%.
Sony CTO: Damn, all those jobs lost! If only our taxes would stay at their current levels that are detrimental to society! We could create so many jobs!

 

[Vette73]

Surprise, Surprise. What a "Recovery Summer" we had, eh?

Business will not invest and expand with big tax hikes looming on the horizon.

You get lost...

"They (Federal Govt Workers) already make 2-2.5X the salaries of comparable private sector workers - and that's before we look at BENEFITS"

Still waiting.


Oh yea forgot, you don't know s__t about anything.

 

[cganesh75]

Might work better than what Obama has been doing.

wait. so up until now they have been receiving the tax cuts and breaks etc.. yet they were creating jobs in china, india etc.. but as soon as we extend the tax cuts to the wealthy they will start creating jobs here?

 

[jrodson69]

You get lost...

"They (Federal Govt Workers) already make 2-2.5X the salaries of comparable private sector workers - and that's before we look at BENEFITS"

Still waiting.


Oh yea forgot, you don't know s__t about anything.

Unlike your pompous arse, I can admit a mistake, which it was. Although, benefits included, the statement is true.

Now if you want to discuss the topic at hand please, elaborate. Otherwise crawl in to your shell.

 

[Acanthus]

Inflation's a funny thing, isn't it?

Too bad a 12k DJIA today isn't worth an 8k DJIA 10 years ago.

You are suggesting there has been a 50% rise in overall prices?

I'm not contesting it. I believe it would be in the ballpark if you included property, health care, and education.

 

[Vette73]

Unlike your pompous arse, I can admit a mistake, which it was. Although, benefits included, the statement is true.

Now if you want to discuss the topic at hand please, elaborate. Otherwise crawl in to your shell.

Sorry false again even with benifits for current Fed Employees.

Guess you can;t see you know nothing about this thread or any other.

 

[her209]

Might work better than what Obama has been doing.

Care to explain why it hasn't "worked" since 2008?

 

[PokerGuy]

Are there really businesses out there that stake their investments on 3% tax rates and the risk vs reward?

Uncertainty about the future environment and looming tax increases most certainly factor into the decision.

If only our taxes would stay at their current levels that are detrimental to society!

In your mind the problem with society is that taxes are just too dang low?

 

[umbrella39]

This. and then the braindead liberals wants to spend more money in the "short term" to grow the economy in the long term. Hey fvcktrds, jobs are being shipped overseas like there is no tomorrow. Unless you stop that and start bringing jobs back, you will never lower unemployment coz most ppl dont know anything better to do and cant be "trained" in "high skill" jobs either thanks to the public school system.

LMMFAO, so now outsourcing is the liberals fault? WTF?