Obama Unemployment Rate Remains in Double Digits — 10.0%
Posted by Jim Hoft on Friday, December 4, 2009, 5:02 AM
The Obama economic disaster continues…
The Obama unemployment rate remained in double digits this past month.
USA Today reported:
The unemployment rate unexpectedly fell to 10% in November as employers cut the smallest number of jobs since the recession began. The better-than-expected job figures are a rare note of encouraging news for the labor market.
Still, the respite may be temporary. Many economists expect the unemployment rate to climb into next year as the economy struggles to generate enough jobs for the 15.4 million people out of work.The Labor Department said businesses shed only 11,000 jobs last month, an improvement from October’s revised total of 111,000 job losses and much better than the 130,000 jobs economists expected.
The unemployment rate fell to 10% from 10.2% in October; economists had expected it to remain unchanged.
The average unemployment rate for the Obama Administration jumped to 9.19%.
UPDATE: Bobby B. sent the updated graph showing what Obama and democrats promised and what we are suffering through instead:
UPDATE: Pelosi blamed Bush.
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Published February 7, 2012 at 8:46 pm - 114 Comments
bill-tb commented:
Obama’s Labor Department says — ScamWOW! And to think it comes one day after the teleprompter seance reading about creating jobs.
Always wait for the third revision, that is when they need to put out the real numbers.
Bill MItchell commented:
JUST A BIT TOO CONVENIENT FOR MY TASTE:
Just a day or so, ADP came out with their job numbers and we lost over 100,000 jobs, pretty much as expected.
Today, the government comes out with THEIR numbers and we are SHOCKED to find that we only lost 10,000 jobs and are adjusting prior months losses downward another 160,000 jobs to get a nice clean 10%?
This is a MISS by economists of 120,000 jobs? Huh? And no one is questioning the veracity of these numbers? From the same government that has just been exposed as cooking the books on AGW?
And we also learn that one of the BIG reasons for this AMAZING result is an increase in GREEN JOBS? Lol, convenient much as we just had our “Jobs Summit” and Copenhagen is going on right now and the Dems are about to ram through Obamacare?
And NO ONE in the media is saying, “now wait a minute, this doesn’t add up?” How the hell did economists miss by 95%? have the ever missed by that much before?
This number reeks of manipulation.
Mark L Harvey (aka Snooper) commented:
Actually, it is 17%: http://bit.ly/4UMiOi
seven commented:
Tehe week of the holiday changes the data. I suspect it will be adjusted upward.
We can’t rely on their numbers anymore.
Mapleleaf commented:
It is unendingly simple to explain this slight dip in unemployment.
With the Thanksgiving/Christmas season upon us, employers are certainly not letting anyone go and most are increasing SEASONAL employees to handle the shopping rush. Once January 2nd rolls around you will see the inevitable increase in unemployment due to these short term jobs being eliminated.
Doesn’t take an MIT educated economist to see the reality through this smoke and mirrors “good” economic news.
eaglewingz08 commented:
I’m sure if Bush had a 10.2 unemployment rate that went ‘down to 10.0 percent’ the following month the media would celebrate it the same way they’re doing with Obama.
/sarc
Mapleleaf commented:
Just to piggyback my last point.
Even if they aren’t counting the temporary “seasonal” staff in thier calculation of the figure, I guarantee that some businesses are hiring full time/permanent employees with the hope to be able to keep them on after the holidays.
We will see how that works out for em’.
Mapleleaf commented:
Or maybe the little fact that the Thanksgiving holiday reduced the number of days people could claim unemployment benefits. Even the AP had to admit that fact.
VIA theblogprof:
http://theblogprof.blogspot.com/2009/12/ap-new-jobless-claims-fall-unexpectedly.html
Alaskan commented:
Wait for a week, and these numbers will be revised…..
Arthur commented:
Please see following link below:
http://hffo.cuna.org/18592/video/1856/html
Banks and more credit unions need to follow the lead of Northside Communie credit union in Chicago, IL. This credit union doesn’t help all low income people from falling into debt trap of payday loans, because the minimum monthly net income to qualify is $1,000 for an unsecued loan up to $500, But Northside is one of the most serious credit union about helping many payday loan borrowers from following into payday loan debt trap.
Sandy commented:
Obama is gratified however, that more temps are being hired. The mind boggles….
Sandy commented:
Yesterday at the Jobs Summit (which has nothing to do with Jobs) Obama said that Govt can’t create jobs only the private sector can do that. He understands however, that businesses want to make a profit but they will have to forgo this for now. What planet is this guy from?