Good News: According to Gallup, unemployment numbers are moving in the right direction.

[Pirate Smile]

Gallup Finds Unemployment Down to 9.2% in Mid-November
Underemployment, at 17.7%, is at its lowest level of 2010

by Dennis Jacobe, Chief Economist
PRINCETON, NJ -- Unemployment, as measured by Gallup without seasonal adjustment, declined to 9.2% during the first half of November -- down from 9.4% during the last half of October and 10.0% in mid-October -- and one of the lowest levels of the year.



Improvement Since September in Part-Time Workers Looking for Full-Time Work

The percentage of part-time workers who want full-time work also declined slightly to 8.5% of the workforce in mid-November -- reaching a new low for the year. While not much different from the 8.6% of mid-October, this is well below the 9.2% of mid-September.



Underemployment Hits a New Low

The decline in the unemployment rate along with the slight drop in the percentage of part-time workers wanting full-time work combined to bring underemployment down to 17.7% -- its lowest level of 2010. This is an improvement from the 18.6% underemployment of mid-October and mid-September, and is the second consecutive new low.



Jobs Situation Improving

Gallup's economic data suggest that the job market continued to improve during the first half of November. As noted previously, if current Gallup unemployment trends continue, the government's unemployment rate for November is likely to show a decline when reported in early December.

Because Gallup's U.S. unemployment rate and underemployment measure are not seasonally adjusted, some of the late October and November improvement is probably the result of retailers hiring for the Christmas holidays. This is particularly likely because Gallup's most recent spending estimates suggest at least a slightly better holiday sales season this year.

Although many economists and politicians continue to complain about the Federal Reserve's efforts to inject money into the economy, it may be that anticipation of this aggressive Fed policy has increased economic optimism among the nation's business leaders. In turn, this could be leading to more companies being willing to hire.

Regardless of the reason, this is good news for retailers and the overall economy as the holiday season gets fully underway.

http://www.gallup.com/poll/144674/Gallup-Finds-Unemployment-Down-Mid-November.aspx

[Phx_Dem]

1. Excellent news!! It's going to take time to get it down

to acceptable levels, but this is great news.

[Uben]

2. $319 billion in benefits paid since the Great Recession.....

....started three years ago. That's a lot, but the government has only footed $109 billion so far and the rest will be made up by employers fo ryears to come.

http://money.cnn.com/2010/11/17/news/economy/unemployment_benefits_cost/index.htm


I read yesterday (don't remember where) that this has also saved the U.S. economy as well. Mainly because it was basically a $309 billion dollar stimulus to the economy because recipients spend the money.

The link above provides some good info

[KeyserSoze87]

3. Uh oh!

Bad news for the repigs!

They are going to get their asses kicked in 2012, trust me.

[DrToast]

4. Non seasonally adjusted means its hard to draw any conclusions from it

Still, other economic indicators suggest the labor market is improving.

[RBInMaine]

5. If it gets close to 8% or goes below 8% by the fall of 2012, the GOP is toast.

[LiberalFighter]

6. The Dems need to hype this to the public in a major way.

First, tell the pigs that we ARE on the right course. And tell them to fuck off. Over and over.


Second, tell the public that we ARE and continue to be on the right course. And stress that we would be even further along if Republicans had not been voted in. And blame any slowdown on the Republicans.

[RBInMaine]

7. You're right. Messaging is everything.

[ClarkUSA]

8. A very close friend of mine just got a good job offer yesterday after 98 weeks of unemployment.

Prior to getting this job offer yesterday, my friend had job interviews with two companies (one of them made him the offer, he's pondering going to the other interview just for the free trip to Silicon Valley :)) during a period of 3 weeks, which was more interview offers than he's had in the prior 1.5 years.

4 million jobs were lost during BushCo w/700K being shed during the month Pres. Obama was sworn in. Those jobs won't all reappear in only twenty months of this administration but things are getting better and the private sector is hiring again.