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US Unemployment Rate Falls To 7 Percent

So much for the so-called “government shutdown” hurting the economy … America added 203,000 jobs in November according to the U.S. Bureau of Labor Statistics (BLS) – beating analysts’ expectations for the second consecutive month. This job growth was accompanied by a rare uptick in the nation’s labor participation rate –…

So much for the so-called “government shutdown” hurting the economy …

America added 203,000 jobs in November according to the U.S. Bureau of Labor Statistics (BLS) – beating analysts’ expectations for the second consecutive month. This job growth was accompanied by a rare uptick in the nation’s labor participation rate – which rose from a 35-year-low of 62.8 percent to 63 percent.

As a result, the number of working age Americans not participating in the labor force declined modestly from a record 91.5 million to 91.3 million.

Add it all up and you’ve got a 7 percent unemployment rate and a 13.2 percent “underemployment” rate.

Again, all of this is predicated on the integrity of the BLS numbers – which has come under fire in recent weeks.

Limited government advocates continued to urge a full investigation into the alleged data manipulation – and praised lawmakers like U.S. Reps. John Kline and David Camp for advancing such a probe.

“The House Education and Workforce Committee and the Ways and Means Committee have taken a vital first step in getting answers from Labor Secretary Thomas Perez,” said Rick Manning of Americans for Limited Government (ALG).

Manning – a former U.S. Department of Labor official – also argued that the jobs data means the federal government can immediately cease doling out extended jobless subsidies and printing money out of thin air.

“It is now time for Congress to end extended unemployment benefits and restore the normal 27 week eligibility period that existed prior to 2008,” Manning said. “It is also clear that the Federal Reserve should immediately begin tapering the $85 billion a month in mortgage backed securities purchases as this data, and that previously reported, demonstrate that it is unnecessary.  In fact it would be the height of irresponsibility for the Fed to continue on the reckless course of continuing the quantitative easing program at all.”

We agree 100 percent …

In fact we probably would have seen faster job growth had the government never initiated its interventionist economic policies in the first place.

Anyway, to review the government data for yourself, click on the link below …

EMPLOYMENT SITUATION – NOVEMBER 2013 (.pdf)

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24 comments

Squishy123 December 6, 2013 at 9:59 am

Amazing, it’s like people are hiring for the Christmas season or something.

Reply
SCBlueWoman December 6, 2013 at 10:02 am

Looks like Obamacare isn’t killing jobs.

Reply
Will Folks aka Sic December 6, 2013 at 10:24 am

yeah cause nobody is signing up for it/ they keep delaying it …

Reply
SCBlueWoman December 6, 2013 at 10:26 am

Typical Wills, thinks women are stupid. Thanks for playing.

Reply
Jackie Chiles December 6, 2013 at 10:40 am

Logical argument fail.

TontoBubbaGoldstein December 6, 2013 at 10:44 am

It was like “The hit dog yelps”, except no one had thrown anything at them……

Jackie Chiles December 6, 2013 at 10:55 am

Here’s a brief outline of SCblueWoman’s argument strategy:

1. Make snarky comment
2. Get called out on how snarky comment isn’t entirely accurate.
3. Say other person thinks women are stupid and ends argument with smug satisfaction that she, by doing so, has proven the snarky comment is correct.

With such an effective argument strategy, I’m surprised SCBlueWoman isn’t the Clarence Darrow of modern times.

Thomas December 6, 2013 at 11:40 am

Whatever it is hiding as a democrat woman( I think it is just another angry white homosexual) he/she/it just destroyed any street cred he/she/it had.

SCBlueWoman December 6, 2013 at 12:35 pm

Bless your hearts. Many, many companies started preparing for the ACA long before the mandate were to take effect. Many were ready to implement it when the extension was given. The wills comment was condescending but the neanderthals on here wouldn’t recognize it. Thanks for playing.

The best pols money can buy December 6, 2013 at 1:06 pm

Paranoia doesn’t suit you well my dear, but you are right that many companies prepared for the ACA in advance, especially the insurance companies that not only raised rates the year prior-but successfully bought our politicians so their margins were protected(the big ones that is).

Jackie Chiles December 6, 2013 at 2:11 pm

Here’s a hint: Criticizing someone for being condescending while simultaneously being condescending indicates an obvious lack of self-perception.

To address the actual point you made, just because “many” companies (a questionable statistic) “started preparing” for the ACA, doesn’t mean that they are currently complying with the ACA or plan to comply with the ACA in January of 2014. Unless you can provide us with some figures on companies that are currently complying with the ACA and their hiring process, you can’t really say that the ACA has had no impact on job creation.

TontoBubbaGoldstein December 6, 2013 at 2:57 pm
Slartibartfast December 6, 2013 at 8:55 pm

That’s a politician all over! Con, descending.

TontoBubbaGoldstein December 6, 2013 at 3:01 pm

TBG is tempted to reply:

“Thanks for playing, too,dear. Now go make me a sammich.”

But that would just be wrong.

idcydm December 6, 2013 at 4:47 pm

Did somebody say “sammich”?

Reminds me of days gone by, those were the days.

Slartibartfast December 6, 2013 at 8:52 pm

She also just made a genuine racial slur about Neanderthals.

Slartibartfast December 6, 2013 at 8:50 pm

Neanderthals had language and music. They also appear to have had an active trading culture and some sort of religion. That would place them far above Democrats on an evolutionary scale.

? December 6, 2013 at 1:03 pm

lmao @ the “Clarence Darrow” reference, nicely done.

Slartibartfast December 6, 2013 at 9:07 pm

“It’s amazing that people who think we cannot afford to pay for
doctors, hospitals, and medication somehow think we can afford to pay for doctors, hospitals, and medication and a government bureaucracy to administer it.” – Dr. Thomas Sowell, Ph.D.

Thunk About It December 8, 2013 at 4:23 pm

You thunk? I wonder why there are more clerks at the check out lanes in all the stores? Any clue?

Reply
venomachine December 6, 2013 at 11:20 am

What amazed me about the shutdown is that apparently our leaders think we’d perish in the streets without 83% of the government remaining open.

Reply
Thomas December 6, 2013 at 11:36 am

You must not be in the stock market. QE policy has quadrupled the personal wealth of millions of Americans in equities. The Fed wants 6.5 percent unemployment. The next FOMC meeting will be uneventful. If you are not in equities, what is in your wallet?

Reply
idcydm December 6, 2013 at 5:41 pm

Will the Fed finally stop printing money they don’t have?

Reply
fatalbert2013 December 6, 2013 at 5:54 pm

yeah, and 41% of the jobs were in gov’t…..swell

Reply

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