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US Jobless Rate Hits 5 Year Low – Unexpectedly

From Reuters:

U.S. unemployment rate hits 5-year low, eyes on the Fed

By Lucia Mutikani | December 6, 2013

WASHINGTON, Dec 6 (Reuters) – U.S. employers hired more workers than expected in November and the jobless rate fell to a five-year low of 7.0 percent, which could fan speculation the Federal Reserve could start reducing its bond purchases this month.

As the poet said, ‘What a tangled web we weave, once we practice to deceive.’

Nonfarm payrolls increased by 203,000 new jobs last month, the Labor Department said on Friday.

And never mind that we used to be told that it would take 250,000 jobs a month to lower unemployment.

The unemployment rate dropped three tenths of a percentage point to its lowest level since November 2008 as some federal workers who were counted as jobless in October returned to work after a 16-day partial shutdown of the government.

And never mind that they returned to work back in October. Or that they never really left work, since they were paid.

Economists polled by Reuters had forecast payrolls rising 180,000 last month and the unemployment rate falling to 7.2 percent from 7.3 percent.

And they they were being outrageously optimistic, as always, to prove their loyalty to the regime.

Job gains for September and October were revised to show 8,000 more jobs created than previously reported, lending strength to the report. Other details were also upbeat, with employment gains across the board, hourly earnings rising and the workweek lengthening.

And we believe all of this.

In addition, the jobless rate fell even as the participation rate – the share of working-age Americans who either have a job or are looking for one – bounced back from a 35-1/2-year low touched in October…

Clearly, the White House has gotten sick of hearing about how the jobless rate is only going down because of the lower workforce participation rate. So they’ve ‘fixed’ that, too. It’s like magic. (In fact, exactly like.)

This article was posted by Steve on Friday, December 6th, 2013. Comments are currently closed.

4 Responses to “US Jobless Rate Hits 5 Year Low – Unexpectedly”

  1. GetBackJack says:

    I keep hoping for an Angel of the Lord to step into an Obama presser and wit sword in hand announce, “Everybody out of the pool”

  2. Umjammerlammy says:

    Job gains for September and October were revised to show 8,000 more jobs created than previously reported, lending strength to the report. Other details were also upbeat, with employment gains across the board, hourly earnings rising and the workweek lengthening…

    Administration officials also acknowledged an increase in employee morale, with many taken to sudden bursts of dance or song. There were reports of increased sexual prowess among the men, and satisfaction among the women. Many said they found bank errors in their favor, and added that despite eating whatever they chose, they lost weight and some also became taller.

    Is anything real anymore? Why do people believe these numbers when we have ZERO reason to trust their accuracy, and plenty of reason to trust they have been adjusted.

    Honestly, by the midterm elections, we’ll be at 4% unemployment, the national debt will have been repaid with money found in the White House couch cushions, and the news will be that, thanks to Obamacare, all illnesses have been cured.

    To hell with these dirtbags.

    • captstubby says:

      good one.
      in fact,i bet the Royal Weasel Carney will cut and paste this for a Hail Mary press release.
      and while i have you here;
      normally i would post a Weekend Capstubby Fractured Fairytale,
      but in this case i could not improved on a Classic.

      The Emperor’s New Clothes
      by Hans Christian Anderson

      Once upon a time there lived a vain Emperor whose only worry in life was
      to dress in elegant clothes. He changed clothes almost every hour and
      loved to show them off to his people.
      Word of the Emperor’s refined habits spread over his kingdom and
      beyond. Two scoundrels who had heard of the Emperor’s vanity decided to
      take advantage of it. They introduced themselves at the gates of the
      palace with a scheme in mind.
      “We are two very good tailors and after many years of research we
      have invented an extraordinary method to weave a cloth so light and fine
      that it looks invisible. As a matter of fact it is invisible to anyone who
      is too stupid and incompetent to appreciate its quality.”
      The chief of the guards heard the scoundrel’s strange story and sent
      for the court chamberlain. The chamberlain notified the prime minister,
      who ran to the Emperor and disclosed the incredible news. The Emperor’s
      curiosity got the better of him and he decided to see the two scoundrels.
      “Besides being invisible, your Highness, this cloth will be woven in
      colors and patterns created especially for you.” The emperor gave the two
      men a bag of gold coins in exchange for their promise to begin working on
      the fabric immediately.
      “Just tell us what you need to get started and we’ll give it to
      you.” The two scoundrels asked for a loom, silk, gold thread and then
      pretended to begin working. The Emperor thought he had spent his money
      quite well: in addition to getting a new extraordinary suit, he would
      discover which of his subjects were ignorant and incompetent. A few days
      later, he called the old and wise prime minister, who was considered by
      everyone as a man with common sense.
      “Go and see how the work is proceeding,” the Emperor told him, “and
      come back to let me know.”
      The prime minister was welcomed by the two scoundrels.
      “We’re almost finished, but we need a lot more gold thread. Here,
      Excellency! Admire the colors, feel the softness!” The old man bent over
      the loom and tried to see the fabric that was not there. He felt cold
      sweat on his forehead.
      “I can’t see anything,” he thought. “If I see nothing, that means
      I’m stupid! Or, worse, incompetent!” If the prime minister admitted that
      he didn’t see anything, he would be discharged from his office.
      “What a marvelous fabric, he said then. “I’ll certainly tell the
      Emperor.” The two scoundrels rubbed their hands gleefully. They had almost
      made it. More thread was requested to finish the work.
      Finally, the Emperor received the announcement that the two tailors
      had come to take all the measurements needed to sew his new suit.
      “Come in,” the Emperor ordered. Even as they bowed, the two
      scoundrels pretended to be holding large roll of fabric.
      “Here it is your Highness, the result of our labour,” the scoundrels
      said. “We have worked night and day but, at last, the most beautiful
      fabric in the world is ready for you. Look at the colors and feel how fine
      it is.” Of course the Emperor did not see any colors and could not feel
      any cloth between his fingers. He panicked and felt like fainting. But
      luckily the throne was right behind him and he sat down. But when he
      realized that no one could know that he did not see the fabric, he felt
      better. Nobody could find out he was stupid and incompetent. And the
      Emperor didn’t know that everybody else around him thought and did the
      very same thing.
      The farce continued as the two scoundrels had foreseen it. Once they
      had taken the measurements, the two began cutting the air with scissors
      while sewing with their needles an invisible cloth.
      “Your Highness, you’ll have to take off your clothes to try on your
      new ones.” The two scoundrels draped the new clothes on him and then held
      up a mirror. The Emperor was embarrassed but since none of his bystanders
      were, he felt relieved.
      “Yes, this is a beautiful suit and it looks very good on me,” the
      Emperor said trying to look comfortable. “You’ve done a fine job.”
      “Your Majesty,” the prime minister said, “we have a request for you.
      The people have found out about this extraordinary fabric and they are
      anxious to see you in your new suit.” The Emperor was doubtful showing
      himself naked to the people, but then he abandoned his fears. After all,
      no one would know about it except the ignorant and the incompetent.
      “All right,” he said. “I will grant the people this privilege.” He
      summoned his carriage and the ceremonial parade was formed. A group of
      dignitaries walked at the very front of the procession and anxiously
      scrutinized the faces of the people in the street. All the people had
      gathered in the main square, pushing and shoving to get a better look. An
      applause welcomed the regal procession. Everyone wanted to know how stupid
      or incompetent his or her neighbor was but, as the Emperor passed, a
      strange murmur rose from the crowd.
      Everyone said, loud enough for the others to hear: “Look at the
      Emperor’s new clothes. They’re beautiful!”
      “What a marvellous train!”
      “And the colors! The colors of that beautiful fabric! I have never
      seen anything like it in my life!” They all tried to conceal their
      disappointment at not being able to see the clothes, and since nobody was
      willing to admit his own stupidity and incompetence, they all behaved as
      the two scoundrels had predicted.
      A child, however, who had no important job and could only see things
      as his eyes showed them to him, went up to the carriage.
      “The Emperor is naked,” he said.
      “Fool!” his father reprimanded, running after him. “Don’t talk
      nonsense!” He grabbed his child and took him away. But the boy’s remark,
      which had been heard by the bystanders, was repeated over and over again
      until everyone cried:
      “The boy is right! The Emperor is naked! It’s true!”
      The Emperor realized that the people were right but could not admit
      to that. He though it better to continue the procession under the illusion
      that anyone who couldn’t see his clothes was either stupid or incompetent.
      And he stood stiffly on his carriage, while behind him a page held his
      imaginary mantle.

  3. canary says:

    Black Friday ran for 3 days here and many workers said they were only working a few days.
    Also, stores had to hire more people to make up for those employees bumped down to less than 30 hours a week.

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