November Jobs Report May Show Gain Of 120,000 Jobs

The Labor Department will release the November Jobs Report next Friday (12/2) at 8:30 a.m. Surveys carried out by the three major financial news agencies idnicate that the US economy may have gained about 120,000 jobs this month:

Nonfarm payroll estimates
Dow Jones Newswires +118,000
Reuters +120,000
Bloomberg +120,000



Both Reuters and Dow Jones say the unemployment rate should stay at 9.0%



Source Linkz:
http://uk.reuters.com/article/2011/11/25/weekahead-americas-idUKN1E7AO11820111125
http://www.bloomberg.com/news/2011-11-27/hiring-probably-failed-to-cut-joblessness-u-s-economy-preview.html
The Dow Jones article is on a subscription service and not online.

For those 120,000 it's a really good thing. Unfortunately, for the rest of us, we need much more and sooner. Congratulations to any who found a full time job, we are all so happy for you.

For the rest of us, we need to keep advocating and lobbying and screaming. The focus needs to go back to JOBS. The Super not so much Committee failure, the debates are all taking the story away from where it needs to be. The American JOBS ACT. We can't let this get pushed to the bottom of the new cycle again.

Just curious how many of those 120,000 jobs are seasonal retail positions. Retail stores begin hiring the day after Halloween, hire too many, and most of the temporary, minimum wage workers are lucky to work 8 hours a week.

I hope that is now what they consider "jobs created".

They won't report them as seasonal until they adjust at the end of January. This year, the stores that hired did so late October and early November, but actually didn't bring the people in to work until this weekend. At our local Target, Kmart and Heritages (WAWA equivalent), they were hired in October and given 12 hrs, mandatory for Thursday night and Friday only. Nothing for today or Sunday, because they know the bulk of the shopping and crowds would be Thurs and Fri late into the night and the following day.

The neighbors I know that are working at the big boxes since summer all have reported that they will on a good week get no more than 24-26 hrs, keeping them from being eligible to get benefits partially paid. Most of them are telling me that they get 12-16 hrs and they are not seasonal. This is how they fudge the numbers of the unemployed. They get just enough hrs to prevent them from collecting, but not enough to qualify as "benefit eligible" part timers. Even though they would have to pay for benefits, they aren't eligible for them at all if they don't work minimum 24-32 per week for a solid quarter. Lovely.

We so need a jobs bill

In Ohio, you are considered employed if you work 8 hours in a week! They count that towards your weeks of employment.

The last year I had 5 different assignments that didn't last. Sorry, if I over took my share. Only added to 10 weeks, which really sucks if you need 20. Was not collecting unemployment benefits either.

I wonder how they count it if your collecting early Social Security.

The Bloomberg survey is out this morning and is in line with the Reuters forecast of 120,000 new jobs in November:

http://www.bloomberg.com/news/2011-11-27/hiring-probably-failed-to-cut-joblessness-u-s-economy-preview.html

Isn't the 120,000 number about what you need just to break even with population growth? We need way higher numbers every month for a what, several years (?) to dig us out of the ditch that Bushco drove us into.

We need WPA-scale government spending to get us out of this, and until we stop letting conservatives drive the agenda, it's just not gonna happen. Yes, spending, not this cult of debt reduction/austerity that's taken over this country and Europe too.

MaryKay, I hope you know by now that I think you're the bee's knees, but I still say that the best thing that could have happened was the Super Committee failing. Look, if you want to reduce the defecit, one thing that will do more than any ideas that the committe proposed is: nothing. That is, just let the Bush tax cuts expire. They are the biggest single reason that we have this huge defecit in the first place.

If the committee had come to any agreement, it surely would have included cuts to Social Security, Medicare, and who knows what else that would hurt us? I'm breathing a sigh of relief that they reached a stalemate.

Anyway, yeah, the November number would be OK if we had maybe a 6% unemployment rate, but as it stands, it's nothing to party over.

I am pretty sure that this was the administrations plan. The president knew the super committee would fail. Now, congress has to actually act and do something or the huge cuts that hurt everybody go into effect. Obama will run against the do nothing congress in his re-election bid. If he wants to win he will anyway.

But you are correct, only spending can save the economy. It's the same in the 30's. Hoover tried to cut the deficit during the depression and the economy only got worse.

I don't know if I believe there's any great strategy here. I keep hoping it's some brilliant plan that I'm too stupid to understand. sigh.

But yeah, the government has to be what gets us out of this because those wonderful "job creators" refuse to. They just sit on their mountains of money and watch the rest of us waste away. Government is the only other entity that has the power to help.

I don't know what to think anymore. I agree with Joan, I don't think anyone has a real plan that they can get the "job creators" to back. I am not sure there is the will to hire regardless of tax breaks, since demand is not there.

I do agree, there is much to be done in this country that a works program from the Feds would really help to employ millions. Not that it would get us all back to work, but a good bit. Something needs to be done.

Once again, Jobs and the Economy fall behind the Newt sound bites, Cain's latest scandal and hurtful soundbites from the Rand Pauls etc.

The biggest problem with only 120,000 is that close to 400,000 are still filing for initial claims.