Strong Nov. Jobs Report: 321,000 added, unemployment rate unchanged

[Clarko95 📚💰📈]

http://www.peoplespunditdaily.com/2014/12/05/news/economy/us-economy-adds-whopping-321000-jobs-in-november-but-key-indicators-wont-give/

Economists predicted that the jobs report would show only 230K jobs created, but it was a much better than expected 321,000, with September and October's totals also being revised upward by 44,000 total.

Hiring was broad, with over 70% of industries adding positions. Consumer spending is up big time on falling energy prices and the approaching holiday season.

Wages were a little less disappointing, growing 2.1% year-over-year from 2.0% last month. It's still very weak, but moving in the right direction.

The overall unemployment rate did not change, nor did the total number of unemployed (9.1 million) or number of long-term unemployed. The labor force participation rate also remains low at 62.9%.

The current job total for 2014 is 2.650 million, which is the best year since 1998. Just under 11 million jobs have been added since February 2010, and the net gain under Obama rises to 5.9 million. We're still only 2.3 million jobs in the clear after accounting for recession losses, while the U.S. population has grown by nearly 10 million since 2010, hence the higher unemployment rate. 

[Lief 🗽]

Thank you President Obama! It's unfortunate that the media and politicians refuse to give You any credit. If Romney were president right now, he would be hailed as Reagan + FDR and have approval ratings in the high 60s.

[AggregateDemand]

I does feel like we are starting the real recovery. Too bad its 4 years behind schedule and several trillion over budget.

It will be interesting to see how long it lasts. Medicare and SS expenditures are set to explode in the next half decade.

[King]

Yeah, most job growth in a single year since 1999 is pitifully slow.

[AggregateDemand]

Yeah, most job growth in a single year since 1999 is pitifully slow.

It's pitifully late

[King]

Longer the rise, longer the fall.

[Lief 🗽]

Yeah, most job growth in a single year since 1999 is pitifully slow.

It's pitifully late

Yes, unfortunately Republicans kept sabotaging the economy every time it gathered steam the last few years. Hopefully they stop that now.

[All Along The Watchtower]

1999

Ah yes, the good ole days of Washington bipartisanship.*


_{*when Congress (lol) had recently impeached a President for lying about an extramarital affair.}

[Mehmentum]

Good news, and its loads better than most of the rest of the world.

[m4567]

2011-2013 was painfully slow, but this year has been quite good.

[AggregateDemand]

Yes, unfortunately Republicans kept sabotaging the economy every time it gathered steam the last few years. Hopefully they stop that now.

Ah, the cult-like confirmation bias of the Democratic Party. Distraught that ACA has done virtually nothing, and that drilling and tax reform will do most of the heavy lifting, no thanks to their party.

It must be a conspiracy.

[Skill and Chance]

Yeah, most job growth in a single year since 1999 is pitifully slow.

It's pitifully late

Yes, unfortunately Republicans kept sabotaging the economy every time it gathered steam the last few years. Hopefully they stop that now.

Well, if that is true, then they should have much more incentive to play ball now that full control of congress is on the line for them.  Things would need to stay this good or keep getting better to lock in the Dem President/GOP Congress scenario long term.

[Lief 🗽]

Yes, unfortunately Republicans kept sabotaging the economy every time it gathered steam the last few years. Hopefully they stop that now.

Ah, the cult-like confirmation bias of the Democratic Party. Distraught that ACA has done virtually nothing, and that drilling and tax reform will do most of the heavy lifting, no thanks to their party.

It must be a conspiracy.

It isn't a conspiracy. "Conspiracy" implies that the GOP's plan was secretive or hidden.

[AggregateDemand]

It isn't a conspiracy. "Conspiracy" implies that the GOP's plan was secretive or hidden.

Touché. You're much farther gone than I thought.

[MurrayBannerman]

Thank you President Obama! It's unfortunate that the media and politicians refuse to give You any credit. If Romney were president right now, he would be hailed as Reagan + FDR and have approval ratings in the high 60s.

It's almost like there's still... problems with the economy.

Still, just like Reagan, Obama owes a lot of credit in the economy growing to the Federal Reserve.

[Mehmentum]

Thank you President Obama! It's unfortunate that the media and politicians refuse to give You any credit. If Romney were president right now, he would be hailed as Reagan + FDR and have approval ratings in the high 60s.

It's almost like there's still... problems with the economy.

Still, just like Reagan, Obama owes a lot of credit in the economy growing to the Federal Reserve.

And a lot of the blame for how the economy's been handled goes to congress, which has basically been a dead limb since 2010.  Actually, considering the sequester and the government shutdown, and debt ceiling crisis, Congress has almost certainly been worse than useless, but actually harmful to the economy for the past 4 years.

[m4567]

2011-2013 was painfully slow, but this year has been quite good.

Actually, you can say the recovery began in late-2011, after the debt ceiling crisis, when job creation jumped up closer to 200K per month and unemployment rapidly fell. It was late 2009 - late 2011 that was grindingly slow. Now it seems that this year we're possibly achieving escape velocity, and momentum keeps building, but it's a frustratingly slow build.

I meant it was largely awful in 2009/2010. Then 2011-2013, the very slow turnaround. 2014- the solid rebound.