US created net jobs in November for first time in years

[Kurt_and_Hunter]

Data revisions in today's jobs report indicate that we didn't lose 11K jobs in November, we actually gained 4K jobs!

Also in the jobs report: In October we didn't lose 111K, we actually lost 127K. In December we lost 85K jobs. The unemployment rate remained unchanged at 10.0%.

Edit:
Fixed spelling of November.
Additional report data: December unemployment rate stayed the same despite December job losses due to shrinkage of the workforce (the 'discouragement' effect); under-employment increased a bit to 17.4%

THE EMPLOYMENT SITUATION -- DECEMBER 2009

Nonfarm payroll employment edged down (-85,000) in December, and the unem-
ployment rate was unchanged at 10.0 percent, the U.S. Bureau of Labor Statis-
tics reported today. Employment fell in construction, manufacturing, and
wholesale trade, while temporary help services and health care added jobs.

...

The change in total nonfarm payroll employment for October was revised from
-111,000 to -127,000, and the change for November was revised from -11,000 to
+4,000.

http://www.bls.gov/news.release/empsit.nr0.htm

[ipaint]

1. When you count discouraged workers the unemployment rate rose.

Jobs Fall 85,000; Unemployment Rate 10 Percent

The economy lost more jobs than expected in December while the unemployment rate held steady at 10 percent, as a sluggish economic recovery has yet to revive hiring among the nation's employers.

The Labor Department said Friday that employers cut 85,000 jobs last month, worse than the 8,000 drop analysts expected. Employment fell in construction, manufacturing, and wholesale trade, while temporary help services and health care added jobs.

A sharp drop in the labor force, a sign more of the jobless are giving up on their search for work, kept the unemployment rate at the same rate as in November. Once people stop looking for jobs, they are no longer counted among the unemployed.

When discouraged workers and part-time workers who would prefer full-time jobs are included, the so-called "underemployment" rate in December rose to 17.3 percent, from 17.2 percent in October. That's just below a revised figure of 17.4 percent in October, the highest on records dating from 1994.

http://www.npr.org/templates/story/story.php?storyId=122355041

[Kurt_and_Hunter]

3. "A sharp drop in the labor force... kept the unemployment rate at the same rate as in November"

Well... maybe a lot of people won the lottery last month.

[OHdem10]

2. Other reports including MSNBC contradict this.indicating Job Losses

in both November and December. November revised.

Best to say this is going to be a long hard slog where
employment is concerned.

Employers cut 18 thousand jobs last month.

UPS is announcing cuts today.

[Clio the Leo]

7. I think you misheard the November figures...

.... I've seen both CNN and MSNBC and they both reported that November gained jobs.

[Kurt_and_Hunter]

11. Yes. Poster may have been hearing October revision and December figures.

October revision was to -127,000.

The November revision was to +4,000

[CanonRay]

4. Where do you suppose all those formerly in the labor force went?

I call bullshit. Again. Sorry, wish it were so.

[Kurt_and_Hunter]

5. They probably went to the Netherlands

In the new Euro-zone employment report the Euro unemployment rate rose to 10% (just copying us, I guess) but unemployment in the Netherlands is 3.4%.

In Spain it's pushing 20%. Yeow!

[Better Today]

6. Eww, let's pretend to be excited about a net loss of another 81K

jobs in the last two months of 2009. Yeehaw! Oh and let's get even more excited that 10s of 1000s of more people have given up looking for a job. Whhooowee!

[HughMoran]

12. Ewww, let's get all pissed off that some people see good in the improving numbers

I hate optimistic people, don't you?

[Clio the Leo]

8. And it's nice to see this OP from you...

.... ;)

I'll take the joy where I can get it. lol

[Kurt_and_Hunter]

9. It's Grantcart's doing

Grantcart was teasing me about being such a pessimist on unemployment so I tried to find a positive datum in what is actually a very bad employment report.

All things considered this report is probably a positive development for Democrats. If we are fooled into thinking things are on a path to dramatic improvement then we are sure to mess up the 2010 elections.

The employment situation is not improving and will not be improved (much) by anything in the pipeline. Currently funded programs will continue to keep the unemployment rate from going much higher but that effect will evaporate as soon as the funding runs out.

It's the big issue of 2010 and it is good to be clear-eyed about it.

[Clio the Leo]

13. lol, welcome to my world.....

.... I can find a reason to smile at a funeral.

And since I'm an eternal optimist, I'd say things ARE improving .... just not at the pace we'd like. (If compared to a year ago.)

[uponit7771]

10. The BLS is STILL taking workers OUT of the sample pool, they're making the number smaller because of

...discouraged workers which can only be seen on the U6 rate...this job thing needs to be fixed yesterday