Friday, December 3, 2010

Unemployment Rate Rises to 9.8%

There was positive job creation, which is better then the alternative, but the growth is far less then needed to even maintain a steady unemployment rate.

"A surprisingly weak jobs report cast a shadow over the economy, undermining several weeks of positive data and diluting hopes of an accelerating recovery.

U.S. employers added just 39,000 payroll jobs in November, a sharp slowdown from the prior month, the Labor Department said. The unemployment rate jumped to 9.8% from 9.6% in part due to more people joining the labor pool.

To put this in the contexts of the last year and a half; after rising to %9.5, 'fake' falling to %9.4, rising to %9.7, and then rising again to 9.8%, and rising again to 10.2%, dropping to 10%, held steady, dropping to 9.7%, held steady, held steady again, increased to 9.9%, dropped to 9.7%, fell to 9.5%, holding steady, rising a tick to 9.6%, and held steady, held steady again, and now has increased to 9.8%.

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