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Tuesday, March 26, 2019

WASHINGTON, Dec 2 (Reuters) – – U.S. employers boosted hiring in November and the unemployment rate dropped to a more than nine-year low of 4.6 percent, making it almost certain that the Federal Reserve will raise interest rates later this month.

Nonfarm payrolls increased by 178,000 jobs last month, the Labor Department said on Friday. The solid gains in employment likely reflect rising confidence in the economy.

Data for September and October were, however, revised to show 2,000 fewer jobs created than previously reported. The three-tenths of a percentage point drop in the unemployment rate last month to its lowest level since August 2007 was both the result of more people finding work as well as dropping out of the labor force.

The report came on the heels of recent data showing the economy growing at a brisk clip in the third quarter, and gains in consumer spending, inflation, housing and manufacturing early in the fourth quarter.

Economists had forecast payrolls rising by 175,000 jobs last month and the unemployment rate unchanged at 4.9 percent.

A pullback in wage growth after two straight months of solid increases put a wrinkle in an otherwise upbeat employment report. Average hourly earnings fell three cents, or 0.1 percent, after shooting up 0.4 percent in October.

The drop lowered the year-on-year gain in wages to 2.5 percent in November from October’s 2.8 percent increase, which was the largest rise in nearly 7-1/2 years. The moderation largely reflects a calendar quirk, which economists expect Fed officials will overlook at their Dec. 13-14 policy meeting.

While a surge in U.S. government bond yields and a rally in the dollar in the wake of Donald Trump’s election as the next U.S. president had tightened financial market conditions, economists said it was probably insufficient for the Fed to stand pat. The U.S. central bank raised its benchmark overnight interest rate last December for the first time in nearly a decade.

As the labor market nears full employment, job gains have slowed from an average of 229,000 per month in 2015 to an average of 180,000 this year.

Still, the monthly increases are more than enough to absorb new entrants into the labor market. Fed Chair Janet Yellen has said the economy needs to create just under 100,000 jobs a month to keep up with growth in the working-age population.

Trump’s plan to increase infrastructure spending and slash taxes could encourage companies to boost hiring and spur an even faster pace of economic growth over the coming years.

The participation rate, or the share of working-age Americans who are employed or at least looking for a job, fell 0.1 percentage point to 62.7 percent last month, not too far from multi-decade lows, in part reflecting demographic changes.

Manufacturing payrolls fell by 4,000 jobs in November, declining for a fourth straight month. Construction employment increased by 19,000 jobs last month after rising by 14,000 in October. Retail sector payrolls fell 8,300, dropping for a second straight month.

(Reporting by Lucia Mutikani; Editing by Paul Simao)

IMAGE: The better-than-expected US jobs numbers (AFP/Andrew Burton)

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58 responses to “U.S. Unemployment Rate Falls To A Nine-Year Low”

  1. kep says:

    So, the regime is still touting a vibrant economy and low unemployment? Why can’t you people see that you are being lied to?

    • Godzilla says:

      Because they are useful eaters who will be promptly disposed of when they are no longer useful.

      • Thoughtopsy says:

        How’s that “Draining the Swamp” thing going, pinhead?
        Looks like the 1% have all been put in charge.
        Bet that’s going to work out well for the average person.

        • dpaano says:

          Yeah, all these so-called “billionaires” are certainly going to do good stuff for this country…..that’s almost laughable! As I’ve said before, these people have a different mindset than most of us….they have NO idea what the poor or middle class do to survive day to day, and they have NO plans on helping any of us unless it puts more money into their pockets! Trump kept telling his followers that he was going to “drain the swamp” and not hire any lobbyists or Wall Street backers…..and look how that’s worked out! He drained the swamp all right…..he put them all in his cabinet or running important departments! Let’s see how that works out for his followers! It’ll be extremely fun to watch them try to come up with valid excuses for the downfall of this nation!

    • Thoughtopsy says:

      You can’t explain facts to people who believe their own personal fantasy is reality.
      Back under your rock, retard.

      • kep says:

        Are you having trouble following truth and honesty? Not a big surprise. Liberals seem to live in a different plane of reality, or Russia. My guess is that most of you liberal trolls are posting from mother Russia. Right Comrade?

        • Dan S says:

          Oh God not another Russian troll on this site. Look pal no American throws around the terms Comrade & Mother Russia except in jest. Saying liberals is not considered an insult here either. America may have Putins puppet but it doesn’t mean we’re going to follow him off a cliff either. We will fight to win this country back from you damn commies. And yes that is to be taken as an insult because it is

          • charleo1 says:

            Dumb A$$

          • dpaano says:

            Like most of us on this site, yes, we’re liberals and we’re PROUD of it! At least we have the brains to see the BS that is coming from the RW media and that most of you brainless idiots choose to believe! So, if being a liberal is a bad thing to you…..it makes me VERY proud to be called a liberal!

          • kep says:

            Have you not been paying attention? It has been the liberal commies that have hijacked the Democratic Party. Democrats now want to redistribute the wealth, by taking from those that have been successful and giving to those that want to do nothing. Sounds like communism? If you are willing to fight AGAINST communisn, you are backing the wrong party.

          • Dan S says:

            Whatever troll ????

          • dpaano says:

            These trolls are like lemmings…..they’d follow Trump off a cliff if he jumped off one (wishful thinking on my part, I’m sure)!

      • kep says:

        Fantasy? You seem to be the one living in a fantasy.

        • A_Real_Einstein says:

          Can you please provide one economic indicator that has not improved substantially under Obama? Just one with a source not a retarded fantasy please.

    • Jan123456 says:

      What so many of you RWers seem to believe is that the unemployment rate is put out purely as a political statement. You don’t realize that major sectors of the economy rely on the accuracy of the statistics supplied by the BLS for business decisions, the fed for interest rate decisions and the markets for investment decisions.

      If they put out willy-nilly numbers, those people will realize it a lot more quickly than you and I would. You just believe it’s a lie because you don’t believe anything good could possibly be real. If I am wrong, show me your sources.

      • kep says:

        What it does reflect are part time seasonal jobs. What it does not include are the millions out of work Americans that have given up trying, and do not report to agencies. Globalization at its finest.

        • Jan123456 says:

          I agree with you that much of the issue is due to globalization. Companies like Carrier or Rexnord obviously would rather pay $30 per week than $20 per hour. Forgive me if I am incorrect, but aren’t you among those who are against more regulation….like the type that would require American companies to use American workers?

          That still doesn’t mean we are being lied to. The U3 is the official rate, reported the first Friday of every month, using the same methodology for decades. An apples to apples comparison from month to month, year to year, decade to decade can be done using that.

          The U3 has NEVER included those who have retired or otherwise stopped trying. It is not a lie to not include them now. The U6 does include people ‘marginally attached to the workforce”.

          http://www.bls.gov/news.release/empsit.t15.htm

          • Bill P says:

            Both the U3 and U6 rates have decreased significantly during the last almost 8 years but the RW doesn’t believe these #’s, they will claim all these jobs “part time seasonal jobs” even when presented with proof to the contrary.

          • Jan123456 says:

            I know what they will claim and I can trace virtually every claim back to Breitbart, WND, or InfoWars articles. What makes it easy is most right wing articles cite other right wing sites so the same article is all over.

          • Bill P says:

            See kep’s reply below. These trolls want to only believe the fake news sites like breitbart, wnd or infowars

          • kep says:

            Liberals lie.

          • Mike says:

            So far you have been confronted with statistics that show your argument is incorrect and your response is liberals lie. Why are you so adverse to the truth?

          • dpaano says:

            It’s because these RW trolls have been brainwashed by the GOP to believe all the false BS that they throw out there! They aren’t interested in facts or figures….anything “good” that has happened due to the Obama administration MUST be “bad” because the GOP says so! It doesn’t matter that it’s proven that during President Obama’s tenure in the White House, our economy has done extremely well (compared to the mess that GWB left for him)! You can spout facts and figures to these trolls until your brain falls out….they will NEVER believe a word that you say! It’s pretty sad that they don’t see the forest for the trees!

          • Bill P says:

            That’s not an answer, that’s nothing but proof that you have nothing to offer right wing bullshit. You are either ignorant of the facts or just believe the fake news sites.

          • kep says:

            Have you looked around? Our economy is as bad as it was during the great depression, yet the regime brags about how great things are. We have the most corrupt government in our history. Do you really think our country is better after 8 years of Emperor Obama?
            Do you actually believe his lies?

          • Jan123456 says:

            If you want me to believe his lies, you have to tell me what they are and show me they actually came from him.

            I have told things he purportedly said, but no sources given or any semblance of context removed.
            I have been showed edited videos, then watched the originals. Usually a big difference in meaning.

            I don’t disagree that there is corruption in government. However, it wouldn’t surprise me if what I see as progress, you see as corruption and vice versa.

            And yes, I think the country is better off than it was in January of 2009. Here’s my evidence:

            U3 and U6 unemployment down over five points.
            Markets over doubled
            GDP up over four points
            Americans don’t have to fear bankruptcy over a major illness.
            No Americans dying daily in a war over non-existent WMD.
            9 Million jobs added (no, not just part time or seasonal as the Breitbart article says)
            Long term unemployed down over 600K
            US exports up 30%
            Inflation under control
            Gasoline prices hover around $2/gal
            US Crude oil production almost doubled.
            Deficit down

            Did everything become perfect under him? Absolutely not. However, my guess is much of what you read has a right-wing spin on it. Do you get your information on, say, the Labor Participation Rate from the US Bureau of Labor Statistics (it did a survey to find out the underlying causes of why it went down…only 3% of people not working said it was because they couldn’t find work. Others cited retirement, disability or other such factors.) or from a right wing publication?

            http://www.bls.gov/opub/btn/volume-4/people-who-are-not-in-the-labor-force-why-arent-they-working.htm

    • Bill P says:

      Let’s see the U3 rate is down to 4.6% form 8.3% in 2009 and the U6 rate is down to 9.3% from 15.1% in 2009. You trolls would anoint any Republican who did this a saint. There have been 74 straight months of job growth with over 15 million new private sector jobs created. The US Dollar is at better exchange rates than the Euro, British Pound, Chinese Yuan, Japanese Yen, etc. since 2009. Housing values are rising steadily and are higher than in 2009. Annual wages have grown 2.5% for private employees. Stock market indices are at or near record levels. S&P 500 is up 162% since Obama became president, Nasdaq is up 253% in that time and DJIA is up 132%. It seems like it is you trolls that don’t believe real #’s or facts but find Trump’s tweets as gospel. So it is you who is really being lied to.

  2. TMZ1928 says:

    Thousands of added jobs? They are counting part-time retail and service jobs. Not counted in the unemployment numbers are the people who have given up looking.

    • kep says:

      Liberals are too stupid to even consider that.

      • Bill P says:

        Well Einstein you haven’t offered any facts to backup your claim. Where are the #’s, you are either too lazy or to ignorant to research the #’s.

        • kep says:

          I dont bother wasting my time trying to convince liberals about anything. Even when I have in rhe past, you cringe when presented with truth, and refuse to accept it.

          • Bill P says:

            You are one delusional troll. Nobody cringes from the crap you post on this site. You offer nothing to backup your ludicrous comments. You need to get out of your extreme right wing bubble world and stop believing those fake news sites that publish crap like the “pizza shop” story about a child sex ring. One of you low information trolls went to the store with loaded weapons including a semi-automatic rifle. He fired his gun in the store but fortunately no one was hit. He’s lucky that a “good guy with a gun” wasn’t there to shoot him.

      • charleo1 says:

        We Liberals are at least smart enough to know a full of crap con when we see one… So we don’t go and elect him President… So there’s that in the who’s too stupid category.

        • kep says:

          You put a lying pos in our White House. I thought Bush was bad, then we got our Emperor. He has no regard for our laws, our Constitution, or America.

          • charleo1 says:

            You thought right, Bush was bad, and he was a moderate compared to Trump. Just do the numbers. It took 6 trillion borrowed dollars to clean up his mess. Four for the war, one trillion for the banks, and one trillion to keep the Country’s economy afloat, after Bush and his lying, thieving cronies from Goldman Sachs, and Halliburton got thru raiding the treasury. What will Trump’s bill be? Do you even care? Even pay Federal Taxes? I do, Trump don’t. What’s the matter with your memory? Somebody ‘washed,’ it away for you? It sounds like it.

    • charleo1 says:

      Then look other places for the state of the economy, and see what is found.
      Housing buys up, foreclosures down. Incomes up, more insured, fewer unemployment claims, durable good orders up, car sales up, energy prices down. Dependence on foreign oil gone. (We’re exporting it for the first time in 40 years.) So what do idiots you want? I know, a White racist in charge. Congrats!

    • Bill P says:

      Check the U6 rate that includes the people who are not looking and guess what it’s lower too, from 15.1% in early 2009 to 9.3% as of 11/2016. The U3 rate has been used as the official rate since at least the 1990’s. I have never heard anyone claim the U3 rate is the wrong rate used when Republicans controlled the presidency.

  3. Insinnergy says:

    #ThanksObama

  4. secondclassguy says:

    Familiar pattern, democrat president leaves a sound nation, and for some reason ignorant people want change (what kind of change they don’t even know) and vote republican. They rob the poor and middle class, and more wealth travels to the top so that the economy crashes…. rinse and repeat

    • franciscawhitis says:

      1 year ago I decided to leave my last job and it changed my life… I started doing work over internet, for a company I stumbled upon over internet, for a few hrs /a day, and I profit now much more than i did on my old work… Last check i got was for 9 thousand bucks… Amazing thing about this job is that now i have more time for my family… http://chilp.it/13548ef

    • kep says:

      Another Russian troll? Or a soviet infiltrator? Do your handlers give you a script ? Stupid blind liberals cant think for themselves. They only repeat what yhey are told to. Your post is regime propropagana.

      • charleo1 says:

        Hey Pal, your guy’s the Russian hugger. So STFU with the Russian crap!
        Anyway, what did he say that wasn’t exactly how it’s gone the last 30 years?

        • kep says:

          Liberals are leftovers from the cold war. Russian infiltraters that were trained to fit into American society and to subvert our government. It has taken you guys 60 years, but you have managed to almost take down America, just as Krushchev said he would. It’s time togo home Comrade. You don’t belong in a free country.

          • charleo1 says:

            Was it liberal groupthink that warned not to wait until a smoking gun became a mushroom cloud? Was it? I don’t think so. Was it liberal policy that promoted the deregulation of Wall Street, that set up the economy for it’s largest general contraction in 80 years, destroying 30 trillion dollars of wealth Worldwide? Approx. 10 trillion in the U.S. in the largest transfer of wealth from the Middle Class to the upper 1/2 of 1%, in the history of the Country? No it wasn’t. In fact, there has not been a single enemy, foreign or domestic since the great Civil War, that has done more to overtly subvert our governmental institutions, or strike more forcefully at the faith of Americans in their Government than the big money fed traitors, and radical anti-democratic seditionists, that now sit in control of 2/3 of the Federal Gov. And furthermore, never has the U.S. had a major political Party back a person so comfortable, and cozy with Communist, White Nationalist, and Authoritarian Regimes around the World, than the one soon to inhabit the White House. Now those are some facts for you to mull over nit wit. The next time you hear your racist hero Trump, praise the former KBG Agent now summarily murdering journalists, and his political opposition in good old Mother Russia.
            Comrade indeed!

          • kep says:

            Liberal have done nothing but destroy our country. Commies through and through.

          • Wrily says:

            kep, you are such a consistent liar I think you must be Donald Trump.

          • charleo1 says:

            You sound like a programed zombie.

          • charleo1 says:

            What year do you think it is now? Still hearing Joe McCarthy in your head? John Bircher?

      • yabbed says:

        Oh, my. You can equate the USSR / Russia with liberalism? Take your meds, sweetie. You are hallucinating again.

      • secondclassguy says:

        If i were a Russian troll i’d be a Trump follower, haven’t you been paying attention to who Russians supported?

        • Eleanore Whitaker says:

          kep is a mindless right wing troll who gets paid to be contrary. If you told him he was naked and you saw him without clothes, these nutbaggers would deny it and have you believing their birthday suits are clothes.

    • Dominick Vila says:

      You can bet that the same people who denied or ignored the accomplishments of President Obama, and dismissed the unemployment numbers we have been seeing the last few years because they are, allegedly, based on a model that does not reflect reality, will cheer enthusiastically when the same unemployment model shows a one tenth of one percent decline after Trump’s Inauguration.

  5. TMZ1928 says:

    The Obama administration has been using fake numbers for everything, including unemployment, economic growth, Obamacare, illegal invaders and deportations.

    • Eleanore Whitaker says:

      Wrong. I can prove it. The minute Trump who isn’t even sworn in yet started in on deportation, suddenly all of the big corporations who knowingly hired illegals and kept them here in the first place, are letting them go. But, that now means they have to be replaced by Americans at American wages.

      You are not too swifft are you? You post your mentally challenged opinion and think we must accept it as fact.

      Now TMZ get the goddamn proof the number are fake or stop posting BS. I will force you to provide the facts. Unbiased number from the DOL. Not your BS Trump megaphone mouth.

      It is clear asshats like you believe all you have to do is BS your way and everyone will just automatically accept what you post. Sorry pallie…yours are post that belong flushed down a toilet.

  6. Mike says:

    thank you president Obama. you have done well by this country. as we frequently do in this country we cut off our nose to spite our face and elected a man who will most likely set us back again. it’s a shame but I hope the next democrat elected can fix the damage he creates.

    • Box says:

      Lets talk about one aspect that cant be disputed, thats the debt. Obama came in with $10 tril, now its $20 tril. Thats not only the highest in history, the highest per year of any president, but also the most rapidly accumulated debt of any president ever. Now, how is it going to be paid?

      Your praise is based on Keynesian economics in which rapid and heavy public spending diverts economic crisis. Obama did that. Hooray! But the model depends on, and creates, borrowing from future generations. Obama, in trying to save in the country in 2009 created unpayable borrowings from the future. So what was gained? Short term gain, long term failure. Your great-grand children will still be paying it.

      You might think that its ok, Gates and Buffet can pay it. Ok, take it all, its $1.5 tril between them. The rest from? The trouble with socialism is that sooner or later you run out of other peoples money and then you are SOL, just as we are now.

      • Mike says:

        Box- The debt is concerning on this we agree. My one question is how are we going to begin to pay back the debt when our new President is pledging large tax cuts (most for the richest 0.1%), wants to spend over half a billion dollars on infrastructure, increase defense spending, build a wall and increase border security, while per his campaign pledges not to touch social security and medicare. I understand that he is already backing down on several of his campaign pledges and it looks like he will try and drastically change medicare and the border wall is probably not going to happen. My point though is that a change to this leadership will not help America. When President CLinton left office we had a budget surplus which over time could have been used to pay down the debt. Instead we went in a different direction and President Bush cut taxes and increased spending blowing the deficit higher and eventually helping to destroy the economy. President Obama has spent a humongous some to try and help pull us out of the recession. Now that we are moving, albeit slowly in the right direction how will Trump’s proposals help with the debt?

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