Jobless rate drops to 2-year low 8.6%

http://news.yahoo.com/labor-market-seen-improving-pace-glacial-051233355.html

Jobless rate drops to 2-year low 8.6%


By Lucia Mutikani | Reuters – 15 mins ago



WASHINGTON (Reuters) - Employment growth picked up speed in November and the jobless rate dropped to a 2-1/2 year low of 8.6 percent, further evidence the economic recovery was gaining momentum.

Nonfarm payrolls increased 120,000 last month, the Labor Department said on Friday, in line with economists' expectations for a gain of 122,000.

The relative strength of the report was also bolstered by revisions to the employment counts for September and October to show 72,000 more jobs created than previously reported.

While part of the decline in the unemployment rate from 9.0 percent in October was due to people leaving the labor force, the household survey from which the jobless rate is derived also showed solid gains in employment

The unemployment rate had been expected to hold at 9 percent.

 

Yep, a great manipulated number, seeing as how some 600k+ gave up looking and fell off the rolls. Real rate is still over 15%. Waiting for the revision next month.

 

AK, you can play the new clueless trumpeter of the BLS statistics now that Ricter has stepped down, if you want. But the BLS data is faulty as I have said over and over. The only charts that matter are the following:

Participation at near 30 year lows.



and the average duration of unemployment.



These images were pulled courtesy of Zerohedge, which clearly understands what you do not. I have given this thread a 1-star rating for the lack of understanding the OP shows on the OT.

 

Did you celebrate with your inflatable Obama boyfriend when you got the "news"?

The real rate is close to twice that.

 

Here you go, right from Shadowstats (which has it's own calc here that is far more accurate than the BLS U3, but also includes the U6, which is a better indicator than the U3, but yet no one ever wants to talk about that one...



shadowstats.com

 

Thanks! I hope this phony drop pushes it into the presidential debates because too many sheeple believe the government BLS

 

In presidential politics all that matter is what The BLS says

 

Only for the stupid. The BLS also publishes the U6 and the labor utilization rate. So really it only matters what the media (left wing) says.

 

Maybe the majority of Americans are stupid but most of them accept the official government numbers

 

It's mostly the Odumbo supporters who are stupid. Like you.