9.4% Unemployment on With only Adding 103,000 jobs in December???


9.4% Unemployment … hardly good news.

Um, 9.4% unemployment in December 2010 by employers nly adding 103,000 jobs. WHAT? The rate went down 0.4 with so few jobs created. What a bunch of bunk this is. I do not even want Obama to praise this number. All this proves is that the way they go about determining the unemployment rate is BS. Economists were projecting an increase of 150K to 175K and 9.7% unemployment.  Obviously the decrease in unemployment only shows that Americans simply just gave up looking.

The nation’s unemployment rate dropped to 9.4 percent last month, its lowest level in 19 months. That was because more people found jobs, but also because some people gave up on their job searches.

The Labor Department says employers added 103,000 jobs in December, an improvement from November’s revised total of 71,000 but far below most analysts’ expectations.

Once unemployed workers stop looking for work, the government no longer counts them as unemployed.

Through all of 2010, the nation added 1.1 million jobs, or an average of 94,000 jobs a month.

Posted January 7, 2011 by
Economy, Jobs, Unemployment | 4 comments

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  • Comments

    4 Responses to “9.4% Unemployment on With only Adding 103,000 jobs in December???”

    1. A Texas Grandfather on January 7th, 2011 4:46 pm

      Unless one could look at the raw data making up these reports, they are suspect.

      The federal government has fudged the numbers for fifty years. This report is a sop to the people by the labor department in order to make the current administration look good.

      Every once in a while, the reports are so out of whack with reality that one sees the numbers, as in this report, making zero sense.

    2. Its Me on January 7th, 2011 11:04 pm

      Extra Christmas help that are now going to be fired?

    3. NGBoston on January 8th, 2011 10:48 am

      “Discouraged Workers”—Here’s a comprehensive review of what the REAL UNEMPLOYMENT NUMBERS are minus those who no longer seek benefits or have jobs!


    4. Obama Offer Spending Freeze as CBO Says this Year’s Budget Deficit to hit $1.5 TRILLION!!! | Scared Monkeys on January 26th, 2011 10:34 am

      [...] 9.4% Unemployment when everyone knows that the actual rate is much higher. [...]

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