The nation added 146,000 jobs last month and the jobless rate dropped from October’s 7.9% to 7.7%. More than 540,000 people dropped out of the labor force, they stopped looking for employment. Even more interesting, America, once the recognized industrial and technological powerhouse in the world, is now commonly rated in the upper teens. Our percentage of low wage workers exceeds all other industrialized nations today! The news media followers are ringing their Christmas bells for the socialist Obama regime’s demolishing that estimated 85,000.
Obama refuses to address spending in his quest for a compromise with the GOP to prevent a run over the fiscal cliff. What were the government numbers?
CNS: “The unemployment rate for government workers plunged from 4.2 percent in October to 3.8 percent in November, according to the Bureau of Labor Statistics, as government added 35,000 to its taxpayer-funded payrolls during the month.”
Downward revisions were also reported on September and October;
OCT – 138,000 from 171,000
SEP – 132,000 from 148,000
It was not that many decades ago when 90% of college students had jobs after they graduated. Today almost half of that percentage is living at home.
ObamaCare is redefining full time employment as 30 hours a week, how will that affect future job rates?