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U.S. unemployment in November: UP to 9.8%

The Employment Situation Summary released by the Bureau of Labor Statistics on December 3, 2010 showed that the unemployment rate in November INCREASED to 9.8%, UP from 9.6% in October and September and August. Nonfarm payroll employment increased slightly (+19,000), and temporary and health services continued to add jobs over the month. Employment fell in retail trade, while employment in most other industries changed little over the month. The number of unemployed people in November was 15.1 million.

Although lawmakers have been pointing fingers, the facts pretty much speak for themselves. American voters elected a lot of Republicans in November to send incumbent Democrats a message, one that Democrats are still not hearing. :-) The increasaed number of new Republicans in the U.S. Senate now allows the possibility of a filibuster, a threat that caused President Obama to agree to extend George W. Bush era tax cuts for the very rich (Republicans LOVE the “very rich”), in order to prevent taxes from increasing for the middle class. Happy, Democrats? (Hint: WE’RE not! :-(  But we’ll take the “chump change” rather than a tax increase….) (Note added December 8, 2010: CNN Money says that “Sure, the wealthy will make out like bandits in the tax-cut deal, but middle-class and lower-income folks will reap benefits too.” Guess which group is likely to benefit MOST! :-) CNN Money says:

“Though the tax deal does benefit people across the income spectrum, it still doesn’t sit well with some left-leaning advocates. They don’t appreciate that Republicans are fighting for tax cuts for the wealthy while at the same time arguing the federal government doesn’t have the money to extend certain safety net provisions.

I guess that I have never been a big fan of hypocrisy. :-) )

Corporate parasites seem very close to killing their host. A suicidal action….

Stubborn high unemployment caused by corporations spending their accumulated cash overseas rather than creating jobs in the United States caused Federal Reserve Chairman Ben Bernanke to state in a 60 Minutes interview:

“At the rate we’re going, it could be four, five years before we are back to a more normal unemployment rate.”

Hey, I’ll probably be officially retired by then, if retirement still exists! :-)

The Employment Situation Summary for November 2010 states:

"The number of persons employed part time for economic reasons (sometimes
referred to as involuntary part-time workers) was little changed over the
month at 9.0 million. These individuals were working part time because
their hours had been cut back or because they were unable to find a
full-time job."
"Among the major worker groups, the unemployment rates for adult men (10.0
percent), adult women (8.4 percent), whites (8.9 percent), and Hispanics
(13.2 percent) edged up in November. The jobless rate for blacks
(16.0 percent) showed little change over the month, while the rate for
teenagers declined to 24.6 percent. The jobless rate for Asians was 7.6
percent, not seasonally adjusted."

"The number of long-term unemployed (those jobless for 27 weeks and over)
was little changed at 6.3 million and accounted for 41.9 percent of the
unemployed."

Around 2.5 million people were “marginally attached to the workforce, UP from 2.3 million a year earlier. These data were not seasonally adjusted. These workers were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They are not counted among the unemployed because they had not looked for work in the 4 weeks before the survey.

Among the “marginally attached” were 1.3 million discouraged workers, an INCREASE of 421,000 from a year earlier, who believe that no jobs are available for them.

The report says the following about various employment sectors:

"Within professional and business services, employment in temporary help
services continued to increase in November (+40,000) and has risen by
494,000 since September 2009.

Health care continued to add jobs over the month, with a gain of 19,000.
Much of the increase occurred in hospitals (+8,000).

Employment in mining continued to trend up over the month. Support
activities for mining added 6,000 jobs in November and has added
74,000 jobs since October 2009.

Retail trade employment fell by 28,000 in November. Job losses occurred
in department stores (-9,000) and in furniture and home furnishings
stores (-5,000).

Employment in manufacturing was little changed over the month (-13,000).
Following job growth earlier in 2010, employment has been relatively flat,
on net, since May. Employment in most other major industries changed little
in November."

-Bill at

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