November Job Growth Unexpectedly Soft (112,000)

[Career Prole]

WASHINGTON (Reuters) - A surprisingly soft 112,000 new U.S. jobs were created in November, the Labor Department (news - web sites) said on Friday, casting a shadow across an already downbeat holiday sales season with consumers apparently worried by scarce work and high oil prices.

The November figure -- the weakest since July -- came in well below Wall Street economists' forecasts for 180,000 new jobs, though the unemployment rate eased to 5.4 percent from 5.5 percent in October.

In addition, Labor lowered its estimates for job growth in both September and October. October's gain was marked down to 303,000 from an originally reported 337,000-job increase. The department cut September's total to 119,000 from 139,000.

http://story.news.yahoo.com/news?tmpl=story&ncid=749&e=1&u=/nm/20041203/bs_nm/economy_employment_dc

[bleedingheart]

1. It wasn't a suprise for the people who voted for Kerry

cuz we knew there aren't that many jobs being created...

[Career Prole]

4. Of course September and October were "revised downward"

after the election.

[bleedingheart]

7. oh of course...cuz Corporate Pravda has to help out *

[durablend]

24. This one will be reduced as well...

Count on that.

[Ms_Mary]

11. I heard it on this AM and had to wonder

How could it possibly be unexpected?

The dollar is setting new record lows. The deficit is setting new record highs. The trade deficit in unbelievable. Outsourcing is all the rage. Even the retail giants are reporting "suprisingly" slow sales this holiday season. Who couldn't have seen that coming? :tinfoilhat:

[lancdem]

21. Yep

[durablend]

2. "Unexpectedly"?

Oh right, we're not living under a rock like *co. :eyes:

[indepat]

28. Unexpectedly??

[yardwork]

3. And they issued "corrections" of Oct and Sept's inflated numbers

What a surprise!

[papau]

10. net increase is only 58,000 new jobs - n/t

:-(

[papau]

12. Excluding 54000 new pretend stay at home, only 4,000 new jobs

http://www.bls.gov/web/cesbd.htm

2003 Net Birth/Death Adjustment (in thousands) Supersector Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Natural Resources & Mining
-1 1 1 0 1 1 1 -1 0
Construction
13 35 28 -8 16 9 8 -7 -8
Manufacturing
-15 5 5 -29 6 3 -7 3 1
Trade, Transportation, & Utilities
-4 21 18 -19 17 17 13 17 18
Information
-3 4 0 -4 2 0 -1 3 3
Financial Activities
9 8 6 -11 8 4 14 7 13
Professional & Business Services
61 32 21 -22 31 15 18 10 9
Education & Health Services
32 6 -4 -20 14 12 26 10 7
Leisure & Hospitality
29 72 83 40 24 -29 -27 -14 15
Other Services
7 8 6 -10 5 1 0 2 4
Total
128 192 164 -83 124 33 45 30 62



2004 Net Birth/Death Adjustment (in thousands) Supersector Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Natural Resources & Mining
-4 0 1 0 1 1 0 1 0 0 0
Construction
-66 7 27 38 39 31 -7 16 10 2 -7
Manufacturing
-38 4 7 3 8 7 -22 4 6 -10 5
Trade, Transportation, & Utilities
-61 9 22 19 23 22 -15 21 19 10 22
Information
-5 5 2 2 3 1 -6 3 -2 2 4
Financial Activities
-12 10 9 16 7 10 -18 8 6 11 10
Professional & Business Services
-95 27 31 66 26 24 -32 24 14 41 17
Education & Health Services
-6 15 10 37 11 -2 -10 17 15 29 12
Leisure & Hospitality
-24 33 37 80 71 81 30 21 -31 -40 -10
Other Services
-10 5 7 9 6 7 -11 5 2 -3 1
Total
-321 115 153 270 195 182 -91 120 39 42 54

[Career Prole]

25. Ah, you mean the Ebay Entrepreneurs?

I'd forgotten them. Crashcart called them self-employed, but they call it selling off heirlooms to pay the rent.

[MatrixEscape]

5. A surprisingly soft?

Oh man, the media bias is getting worse. That phrase sounds rather subjective to me.

What, we were supposed to expect something different from the current Regime?

[seasat]

6. And the decline in the unemployment rate is a bad thing.

When the unemployment rate went up last month it represented people who had been out of work and stopped looking for work, restarting a job search. It looks like that surge in employment was short lived. Usually there is a spike up due to Christmas hiring. This is pretty bad news for the economy. Especially those of us in the bottom 80%.

[durablend]

8. Some even better news!

Weekly earnings DROPPED and retailers CUT employees.

Oh yeah...look at the economy getting stronger!!!!!

:eyes:

[TrueAmerican]

9. That damn Bill Clinton

and his private part are still destroying this economy.

[qanda]

13. Brian Lamb just announced...

"The unemployment rate has dropped to 5.4%." Oh joy, happy days are here again!

[mhr]

14. The Forecasters Would Do Better Sampling From Those Looking

For work.

Unemployed here 54 months; No significant inquiry in two years.

The unemployed could have told all that Main street is still on skid row.

The "dope" they are smoking on Wall street is definitely on limited distribution.

[llmart]

15. Unexpectedly?????

Unexpectedly to whom I ask? Some of us here in the real world of life can look around us and see there are no jobs and people are working at or below their level and getting paid half (if they're lucky) of what they made in the Clinton years.

The corporate whores in the media continue to disgust me.

[DFWJock]

16. Still

turning that corner!

[durablend]

20. Isn't there a rut in the ground already?

You'd think so from all that "corner turning"

[seasat]

17. This analyst's comment doesn't bode well for December jobs.

(LINK)

Even though jobless claims jumped last week, analysts said it would not affect the November employment report, scheduled for release on Friday. They noted the monthly survey for November was completed well before the rise in claims. Analysts expect payroll jobs to be reported up 180,000.

It sounds to me like December's report should be even worse. Don't Y'all just love the Shrub Inc economic management policy? I left my Kerry/Edwards sticker on my truck because I wanted to make sure that everyone knows that I didn't vote for this idiot.

[durablend]

18. Just wait for JANUARY's report

When all those newly hired for the holidays get CUT.

It's gonna be a MESS

[rocktivity]

19. Maybe Bush was "expecting" a spurt of year-end holiday jobs.

I haven't seen too many department store "hiring for the holidays" ads lately--they're usually posted by now. I applied for one of those jobs two years ago, but a long-term temp job came through two days later. I remember I was only one of six people hired.

:headbang:
rocknation

[aquart]

22. Not the least bit unexpected.

Maybe it's time to hire real economists?

[durablend]

23. * isn't going to hire one...that's for sure...

Can't do that...reality would cause him to melt.

Boy King MUST be insulated from the truth.

[kitchen girl]

26. My husband has been unemployed since August.

We're not surprised! :eyes:

[sonicx]

27. don't we need to gain about 150,000 per month for it to mean anything?

[Career Prole]

29. Exactly so!

Well, maybe not exactly but it's a widely accepted figure.
Which means many of the monthly "job creation" numbers they've posted over the course of this nightmare were actually representing job shrinkage.
Just more hooey from the Masters of Hooey.
I read in that story that shrub is just 313,000 jobs from "breaking even" over the past four years and I believe that's bullsh*t.
I doubt he's anywhere near that close.