National Unemployment Down to 7.7 Percent

The first jobs report released after President Barack Obama’s re-election is better than expected

Despite the damage from Hurricane Sandy, 146,000 jobs were added to the economy in November, according to figures from the Labor Department released on Friday morning.  

The unemployment rate of 7.7 percent is the lowest since December 2008, according to the Associated Press, and down from October's 7.9 percent unemployment. Twelve million people remain unemployed.

The Department of Labor reports that the number of people unemployed for 27 weeks or more “was little changed at 4.8 million."

The November unemployment rate for Connecticut will not be available for two more weeks. In October the state saw its unemployment rate rise to 9 percent for the third time this year.

The full national jobs report can be viewed on the Bureau of Labor Statistics’ website.

Will Wilkin December 07, 2012 at 04:38 PM
If American unemployment were measured today as it was measured until 1994, the unemployment rate right now would be reported as over 22% http://www.shadowstats.com/alternate_data/unemployment-charts
JYD December 07, 2012 at 07:17 PM
Wait a second, Will. You can't be right. I saw the president on TV a couple of months ago leading up to the election, and he told me that the unemployment rate is dropping and things will keep getting better. It has to be true... President Obama said it himself.
Will Wilkin December 09, 2012 at 05:31 PM
Hello JYD, You might appreciate this explanation for why the BLS has been told to count things as they have: http://www.paulcraigroberts.org/2012/12/08/more-phony-employment-numbers/ EXCERPT: There are a number of ongoing problems with the released numbers....[click link to read them --WW] ...Even if we believe the government that 146,000 new jobs materialized during November, that is the amount necessary to stay even with population growth and therefore could not be responsible for reducing the unemployment rate from 7.9% to 7.7%. The reduction is due to how the unemployed are counted.... ...The U.S. government simply lowers the unemployment rate by not counting all of the unemployed. We owe this innovation to the Clinton administration. In 1994 the Clinton administration redefined “discouraged workers”.... ...A government that wants to cut the social safety net doesn’t want you to know that the unemployment rate is 22.9%. A government that wants to cut the social safety net when between one-fifth and one-fourth of the work force is out of work looks hard-hearted, mean-spirited, and foolish. But if the government reports only one-third of the unemployed and presents that rate as falling, then the government can present its cuts as prudent to avoid falling over a “fiscal cliff.” END EXCERPT


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