December Jobs Report: U.S. Creates 74,000 Jobs, Unemployment Rate Down To 6.7%

The news just keeps getting better !!

They got the unemployment rate down to 6.7% last month by only adding 74,000 jobs !!

Of course, they only *Count* U3 unemployed using people "actively" looking for work.

December Jobs Report: U.S. Creates 74,000 Jobs, Unemployment Rate Down To 6.7%

The U.S. economy added 74,000 jobs in December, as the unemployment rate fell to 6.7 percent, the Bureau of Labor Statistics reported Friday.

The Associated Press reports:

U.S. employers added a scant 74,000 jobs in December, the fewest in three years. The disappointing gain ends 2013 on a weak note and could raise questions about the economy's recent strength.

The Labor Department says the unemployment rate fell from 7 percent in November to 6.7 percent, the lowest level since October 2008. But the drop occurred mostly because more Americans stopped looking for jobs. The government counts people as unemployed only if they are actively searching for work.

Related articles and statistics;

B.L.S. graphs


Charts showing U6

The economy added only 74,000 non-farm jobs in December, the fewest in three years. Yet the unemployment rate dropped 0.3 points to 6.7 percent -- the first time in 60 months it has dropped below 7 percent, the Labor Department announced on Friday.

With so few jobs added, the jobless rate still went down because people stopped looking for work.

Hiring Slows in December; Only 74,000 Jobs Added, Fewest in 3 Years

The "alternative" rates have been above 20% for 5 years however;
Alternate Unemployment Charts

reply to post by xuenchen


Great minds think alike...

I love how the administration touts lower unemployment numbers while ignoring the fact people have given up on looking for a job.

This is right up there with the administration making a fubar out of Obamacare. Instead of dealing with that Obama, our Campaigner / liar in chief, gives speeches on why people need unemployment benefits restored (still in congress last I checked).

Im amazed Obama has not set up a program that would take the unemployed and ship them to Iran or North Korea for employment.

Ironically the benefits would not be needed if the unemployment numbers above were accurate.

I think when Obama / Pelosi etc are asked questions, the interviewer should ask the people which of their 2 faces would like to respond.

Xcathdra
I love how the administration touts lower unemployment numbers while ignoring the fact people have given up on looking for a job.

A small point, but if you have "given up" looking for work then you are not unemployed. I suppose if you want to count people not looking for employment as unemployed, then you need to chuck in all sorts e.g. retired, idle rich (and poor) and so on.

Regards

paraphi

Xcathdra
I love how the administration touts lower unemployment numbers while ignoring the fact people have given up on looking for a job.

A small point, but if you have "given up" looking for work then you are not unemployed. I suppose if you want to count people not looking for employment as unemployed, then you need to chuck in all sorts e.g. retired, idle rich (and poor) and so on.

Regards

Exactly. You would have to count people like me, who quit work in order to be a stay-at-home mom. I don't consider myself "unemployed". I also know a couple of men who became "stay-at-home dads" as well - intentionally.

reply to post by Xcathdra


I myself have also wondered that if the economy is doing so well, why do we need record high social program spending, QE infinity, and another emergency UE expansion (how long do you keep extending an emergency benefit before you can stop calling it emergency anyways)?

Just more BS on the job reports, I live in a small county/small town...at one time there was lots of jobs around here, companies were having difficult times finding general labor. It was like that for almost 20 years. These companies didn't just shut down or go bankrupt either...they just moved a lot of their stuff to other countries; Mexico, China, India, etc... These American companies turned their back on the American people, plain and simple.

These projection are nothing more than a front for the sheepish people... In my area there has be no additional business moving in to setup shop, no growth in businesses that remain and unemployment is way higher then projected; mostly because our state has cut off federal funding on long term unemployment benefits. I think others have pointed out that these people are no longer counted in the unemployment pool.

As a people, we have failed to keep our government in check... that's the real truth!

paraphi

Xcathdra
I love how the administration touts lower unemployment numbers while ignoring the fact people have given up on looking for a job.

A small point, but if you have "given up" looking for work then you are not unemployed. I suppose if you want to count people not looking for employment as unemployed, then you need to chuck in all sorts e.g. retired, idle rich (and poor) and so on.

Regards

kaylaluv
Exactly. You would have to count people like me, who quit work in order to be a stay-at-home mom. I don't consider myself "unemployed". I also know a couple of men who became "stay-at-home dads" as well - intentionally.

If people are not considered unemployed then why are we paying them unemployment benefits?

There are about 90 million people who dropped out of the labor force +/-. Not all of them are stay at home moms.

Secondly I would like to know how many of those 74k jobs created are government jobs. Also, how many government jobs have been created in the last few years.

I'll just bet the White House and Congress both would love the Bureau of Labor Statistics to stop EXPLAINING the numbers..

The Labor Department says the unemployment rate fell from 7 percent in November to 6.7 percent, the lowest level since October 2008. But the drop occurred mostly because more Americans stopped looking for jobs. The government counts people as unemployed only if they are actively searching for work.

It sounds really good....until they tell people why it sounds that way. Errr.... Yeah, thanks for nuttin.

paraphi

Xcathdra
I love how the administration touts lower unemployment numbers while ignoring the fact people have given up on looking for a job.

A small point, but if you have "given up" looking for work then you are not unemployed. I suppose if you want to count people not looking for employment as unemployed, then you need to chuck in all sorts e.g. retired, idle rich (and poor) and so on.

Regards

On top of that, It is my understanding that these statistics have always been calculated in the same manner, which would have to be the case in order to maintain consistency in data reporting. In order to maintain any credibility when comparing statistical data, the first step is to insure that the same criteria is utilized each time the data is collected.

If that is the case, which I believe it is, then the argument that this group or that group was left out is a mute point.

If the unemployment rate was calculated differently in the past, then they might have something, but I seriously doubt that's the case.

Yep.
Welfare is at an all-time high because they have added so many jobs.

Whatever.

Apparently there was some changes in 1994.

Looks like some juggling.

1994 revisions

As a result of research that started in 1986, a complete overhaul of how the CPS was administered and what type of questions were asked occurred.[10] Prior to 1994, the alternate measures of unemployment had different names because the BLS drastically revised the questions in the CPS and renamed the measures: U3 and U4 were eliminated; the official rate U5 remained the same measure but was renamed U3; U6 and U7 were revised and renamed U5 and U6.

Current Population Survey

reply to post by paraphi

but if you have "given up" looking for work then you are not unemployed.

un- 1
pref.
1. Not
2. Opposite of; contrary to


em·ploy
emˈploi/
verb
past tense: employed; past participle: employed

1.
give work to (someone) and pay them for it.




a Small point... but you clearly don't know what you are talking about.


In other news.... the ministry of plenty is delighted to announce that monthly chocolate rations have been increased from 12 ounces, to 10 ounces.

reply to post by xuenchen


There have been some dramatic changes within the last several years, as well.

So many Americans have been jobless for so long that the government is changing how it records long-term unemployment.
Citing what it calls "an unprecedented rise" in long-term unemployment, the federal Bureau of Labor Statistics (BLS), beginning Saturday, will raise from two years to five years the upper limit on how long someone can be listed as having been jobless.

The move could help economists better measure the severity of the nation's prolonged economic downturn.

Source: U.S. changes how it measures long-term unemployment

Then, you have the fact each month is calculated in 6 different ways, literally, in U- numbers ..and the media doesn't use the most descriptive one anyway. They never have.


(Source: Bureau Of Labor Statistics - Labor Numbers)

reply to post by paraphi


There has to be some metric for measuring the people who have quit looking for work because they have given up hope. There simply aren't that many people who are at home not working voluntarily.

Didn't some of the unemployment number come from people actually on unemployment? And didn't those extended benefits just expire? So, are all those people being counted in this?

I trust the governments numbers as much as I trust a cat to guard a can of tuna.

Hasn't been anyone knocking on my, or my neighbors doors asking us if we have a job. But I have spoke to both neighbors and friends and family to know how bad it really is out there.

The numbers of people that have stopped looking for work are wrong too.

Many have run out of unemployment and have given up on any help from the government unemployment offices.

But are still looking for work.

Me i long ago gave up using the unemployment offices looking for work because there jobs lists were so bad at listing jobs right.

ENrgLee
In other news.... the ministry of plenty is delighted to announce that monthly chocolate rations have been increased from 12 ounces, to 10 ounces.

edit on E5Fri, 10 Jan 2014 15:16:31 -060030America/ChicagoAmerica/Chicago by ENrgLee because: combatting orwellian newspeak

*squeal!*

Moar chocolate!

QE is still dumping 80+ billion a month into the market.

As long as that continues, we are still in a depression.

reply to post by beezzer


Oh Beezzer, now don't be a party pooper!

Don't ya know, they are just monetizing our own debt, with our own money and telling us it's a great thing to do! Why for so should we not have total faith and confidence? Doesn't the dollar bill even say 'In God We Trust'? Who can doubt such support?

They know what they're doing...have our best interests at heart, and unemployment really is 6.7%!

(Oh..and my nose isn't getting longer, stop staring. It's just a little optical illusion from the weird lighting in here)

reply to post by Wrabbit2000


I wrote this back in August.
www.abovetopsecret.com...

The "New Normal".




The new "Normal" is high unemployment.

The new "Normal" is millions on food stamps.

The new "Normal" is millions on government aid.

The new "Normal" is redistributed wealth.

The new "Normal" is no more White House tours.

The new "Normal" is one set of rules for you and I, another set for "them".

The new "Normal" is NSA spying on you.

The new "Normal" is drones flying in American skies.

The new "Normal" is indiscriminate attacks on American citizens without due process.

The new "Normal" is gun control.

The new "Normal" is "Free Speech Zones".

The new "Normal" is treaties with our enemies and attacks against our allies.

The new Normal" is nanny care government.

The new "Normal" is victimhood.

The new "Normal" is being afraid all the time.

The new "Normal" is the government feeding that fear.

The new "Normal" is a divided country.

The new "Normal" is us fighting amongst ourselves.

The new "Normal" is blaming others for your own faults, and getting away with it.

The new "Normal" is reality shows on tv and no reality in the news.

The new "Normal" is ignoring the constituents and listening to the lobbyists.

The new "Normal" is crying over one death and ignoring the deaths of thousands.

The new "Normal" is the decay of the Constitution and the birth of See Something, Say Something.

The new "Normal" is the justification of hate, and the embrace of discord, and calling it "Justice".

The new "Normal" is calling whistleblowers traitors, and traitors, patriots.

The new "Normal".

Embrace the madness.

It's normal. Why worry. (big nose)

Two things: That report will not reflect those that lost the Federal Emergency Extended Unemployment Benefits. That number will be on January's report. And two, how many of those 74,000 jobs in December were temporary warehouse jobs for Christmas that always happen and are now done?