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EnigmaDude (54.65)

dark lining to a silver cloud - drop in unemployment



December 02, 2011 – Comments (2) | RELATED TICKERS: MWW , PAYX , ASGN

The unemployment rate fell to 8.6 percent, and 120,000 jobs were added. As has generally been the case for the last two years, the monthly snapshot contained marginally positive — but conflicting — news on the state of the labor market.

Read the rest of the article from Daniel Gross and decide for yourself how good (or bad) this news really is.


2 Comments – Post Your Own

#1) On December 02, 2011 at 12:43 PM, EnigmaDude (54.65) wrote:

Here's more on the good news side:

Monster Worldwide Employment Index U.S. rises 10% on annual basis (MWW) 7.21 : Monster Employment Index U.S. shows annual growth of 10% in November... All metro markets tracked by the Index exhibit positive annual growth.

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#2) On December 02, 2011 at 1:28 PM, davejh23 (< 20) wrote:

Yay, the unemployment rate dropped again!  Let's ignore the fact that the labor force participation rate is back to where it stood nearly 30 years ago...not necessarily a bad thing...many once dual-income households are permanently returning to single income households.  Let's ignore the fact that the average duration of unemployment has doubled since the start of the recession and shows no signs of turning...of course, extended unemployment benefits might help contribute to this stat.  Let's ignore the fact that the number of people who currently want a job is the highest since the start of the recession and is rising.  Hmmm...millions of families have seen their living standards lowered over the last few years, real incomes are dropping rapidly, more people are unemployed, but I'm supposed to be excited that the gov't says the unemployment rate ticked down?  Should I rush out and tell all my unemployed friends first, or my friend with an advanced degree working for $9/hr.?...or maybe my friends/family that haven't seen a raise in 4 years?

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