The Banking and Strategy Initiative

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US Economy: Here's the Jobs report

It is clearly a good year to hold elections. A certain magic in the air as each vote for Romney counts to Obama’s re-election and each

English: Graph of US Civilian Labor Participat...

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Job generated in 2011 probably adds 3 more. Even after seasonal corrections, the new private payrolls would have added mor ethan the expected 155k at 165k and the expected included no adjustments for seasonal corrections.  The 212 k number added brought the unemployment rate down to 8.5% but the job participation / employed ratio or our new employment rate to check comes to 64%( of all employables, i think  18-64 physically able)  / 58.5% ( of all adults) leaving the same 153-155,000 added to  been in the queue too long, can I get a job queue. The gains in warehousing will be written back next month..the gains of war, ( No Bush, No War) yet to come..No i do not agree this is a fudge. I think it is a statistic.

The U-6 rate has also come down to 15.2% so it is not a fluke, and probably staying unemployed too many months like me or @zerohedge is not killing it really

Look at this defense of real gains in employment from FT Alphaville ( Quite a few paragraphs long for a jobs report, but no boring bits in there at all..)

Nonfarm payroll employment rose by 200,000 in December, and the unemployment rate, at 8.5 percent, continued to trend down, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in transportation and warehousing, retail trade, manufacturing, health care, and mining.

Household Survey Data

Both the number of unemployed persons (13.1 million) and the unemployment rate (8.5 percent) continued to trend down in December. The unemployment rate has declined by 0.6 percentage point since August. (See table A-1.)

Among the major worker groups, the unemployment rate for adult men decreased to 8.0 percent in December. The jobless rates for adult women (7.9 percent), teenagers (23.1 percent), whites (7.5 percent), blacks (15.8 percent), and Hispanics (11.0 percent) showed little change. The jobless rate for Asians was 6.8 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 5.6 million and accounted for 42.5 percent of the unemployed. (See table A-12.)..(the complete report)

 

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