... it is always easy to cherry pick data out of the 41 page Bureau of Labor monthly Employment Statistics report.
The Nov report states released Dec 03
THE EMPLOYMENT SITUATION — NOVEMBER 2021Total non-farm payroll employment rose by 210,000 in November, and the unemployment rate fell by0.4 percentage point to 4.2 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gainsoccurred in professional and business services, transportation and warehousing, construction, andmanufacturing. Employment in retail trade declined over the month.
Since the high of approx 15% unemployment rate in Feb 2021 when President Biden during the height of COVID shutdowns to Nov 2021 the unemployment rate has fallen to 4.2%.
The 10,000 lbs. elephant in the room that no liberal wants to talk about is inflation.
True story: I was getting gas and overheard 2 old black ladies bitching about the high price of gas and one of them said, and I quote: "That damn Biden promised he was gonna do this and that but I can barely afford to eat."
A bloodbath is coming for democrats. A red wave the likes of nothing we've seen is coming.
Bidenflation And Broken Supply Chains Afflicted The Services Sector in November
The services sector is under severe stress from inflation and supply chain disarray, data from an industry survey showed Friday.
The Institute for Supply Management said Friday that the deliveries component of its purchase manager index for the services sector registered 75.7 for the second consecutive month. That is the second highest reading on record. The highest was April 2020, when many businesses were temporarily shutdown altogether. A higher reading on the index indicates slower deliveries.
Perhaps counter-intuitively, slower deliveries actually count as a positive contribution to the ISM’s overall PMI reading. That’s because longer-delivery times can be an indication of strong demand for services. In November, the overall reading rose to 69.1, far exceeding even the top of the range of estimates. The consensus forecast was for a reading of 65, which would have been a bit below October’s reading.
The Backlog of Orders Index registered 65.9 percent, 1.4 percentage points lower than October’s all-time high reading of 67.3 percent. That is also likely an indication of supply chain problems that pushes up the overall PMI score.
The Prices Index reached its third-highest reading ever at 82.3 percent, down 0.6 percentage point from the October figure. All 18 services industries reported an increase in prices paid during the month of November. Inflation too pushes up the index.
Nearly all commodities used by the services sector were up in price, with the exception of latex gloves and lumber.
Services businesses continue to struggle replenishing inventories, as the inventory and inventory sentiment gauges stayed in contraction or ‘too low’ territory in November, according to ISM.
In short, although demand remains strong, the record high score for November’s PMI is also a reflection of inflation and supply chain problems for the services sector.
Growth is found only in adversity.
Nearly 1 million more jobs were created this year than the government first estimated
- November saw disappointing payrolls growth of just 210,000, but that number could be revised substantially higher.
- For the first 10 months of 2021, total revisions have added nearly 1 million jobs to the first estimates.
- Other labor indicators have shown a strong jobs market.
If you would have believed the Labor Department, August and September looked to be signaling a jobs market that was just about out of gas.
Initial readings from the department’s Bureau of Labor Statistics indicated that August had seen payrolls growth of just 235,000, while September was stuck at 194,000. Both were well below Wall Street expectations at the time.
But what a difference a couple of months can make.
If the November count keeps pace with the revisions of 2021, the final report should be around 300,000. That would be well below the 11-month year-to-date average of 555,000. However, the past three months have averaged upward revisions of 193,000, meaning that the most recent totals could move considerably higher.
This pecker head must search through countless liberal websites until he finds the one that is the most dishonest and distorted.
The real story.
Biden glosses over weak November job gains to highlight low unemployment rate
WASHINGTON — President Joe Biden glossed over the weak November jobs report Friday, instead focusing on the low unemployment rate and the yearlong trend of growth and economic recovery.
The U.S. economy created far fewer jobs than expected in November, in a sign that hiring started to slow even before the announcement of the new Covid omicron variant, the Labor Department reported earlier in the day.
Nonfarm payrolls increased by just 210,000 for the month, though the unemployment rate fell sharply to 4.2% from 4.6%. The labor force participation rate increased for the month to 61.8%, its highest level since March 2020.
The result is that the jobs growth figure suggests a weaker economic recovery than the unemployment rate does.
It’s not hard to see why the president chose to focus on the unemployment rate, and not on the jobs number, which he mentioned only once in passing. Biden also noted that initial jobs tallies this year have seen substantial upward revisions.
https://www.cnbc.com/2021/12/03/nove...ment-rate.html
Growth is found only in adversity.
.....
BREAKING: The US only added 210,000 jobs in November.
That's a massive miss from the 550,000 that economists expected.
Growth is found only in adversity.
If that were true there would not be fewer people working than there were two years ago. There are still more people that lost jobs due to the Democrat caused COVID shutdown of a huge portion of the economy than there are who been hired back. Then there are all the manufacturing jobs that President Trump brought back to the US there are now gone again and will not return until we have another conservative President.
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