(Image source: The Washington Post)

BY NATHAN BYRNE

The November jobs report delivered some surprising numbers. MSNBC has a look.

“Here are the numbers: unemployment down to 7.7 percent — lowest mark in four years. The economy added 146,000 jobs. Not great, but good.”

Fox Business host, Stuart Varney, disagrees. He says the rate may be down …

“ … but that’s due mainly because people continue to leave the workforce in droves. 146,000 jobs created — that is not a signal of a robust economy.”

A writer for Forbes finds the jobs report shocking. That’s because the Labor Department said Hurricane Sandy didn’t impede the November numbers as many expected. Still, Sky News suggests it’s an underdelivery.

“But if it weren’t for the storm or Congress bickering right now, we might have seen a strengthening labor market north of 200,000 and that would have been a pretty solid report.”

CNN’s Christine Romans adds — 40 percent of the unemployed have been out of work for at least six months.

“That’s the long-term structural unemployed, still a problem. … 14.4 percent underemployment, some people call that the ‘real’ unemployment rate, means a lot of people are still hurting and have been left out of the market.”

The New York Times reports the retail sector looked particularly good in this report — adding 53,000 jobs ahead of the holiday season. But that article also cited “one notable point of weakness” — a 7,000-job loss in the manufacturing sector spurred by weakened foreign demand and some companies staying on the sidelines awaiting a fiscal-cliff resolution.

Stocks, meanwhile, appeared to take the news as a wake-up call. Here’s CNBC.

“Take a look at the futures and how we are reacting to the much better than expected jobs report.Implied open on the S&P 500 up four-and-a-quarter points.”

According to Bloomberg, though, futures later fell— after ECB President Mario Draghi said policy makers cut growth forecasts.

Jobs Report Surprises Amid Sandy Speculation

by
0
Transcript
Dec 7, 2012

Jobs Report Surprises Amid Sandy Speculation

(Image source: The Washington Post)

BY NATHAN BYRNE

The November jobs report delivered some surprising numbers. MSNBC has a look.

“Here are the numbers: unemployment down to 7.7 percent — lowest mark in four years. The economy added 146,000 jobs. Not great, but good.”

Fox Business host, Stuart Varney, disagrees. He says the rate may be down …

“ … but that’s due mainly because people continue to leave the workforce in droves. 146,000 jobs created — that is not a signal of a robust economy.”

A writer for Forbes finds the jobs report shocking. That’s because the Labor Department said Hurricane Sandy didn’t impede the November numbers as many expected. Still, Sky News suggests it’s an underdelivery.

“But if it weren’t for the storm or Congress bickering right now, we might have seen a strengthening labor market north of 200,000 and that would have been a pretty solid report.”

CNN’s Christine Romans adds — 40 percent of the unemployed have been out of work for at least six months.

“That’s the long-term structural unemployed, still a problem. … 14.4 percent underemployment, some people call that the ‘real’ unemployment rate, means a lot of people are still hurting and have been left out of the market.”

The New York Times reports the retail sector looked particularly good in this report — adding 53,000 jobs ahead of the holiday season. But that article also cited “one notable point of weakness” — a 7,000-job loss in the manufacturing sector spurred by weakened foreign demand and some companies staying on the sidelines awaiting a fiscal-cliff resolution.

Stocks, meanwhile, appeared to take the news as a wake-up call. Here’s CNBC.

“Take a look at the futures and how we are reacting to the much better than expected jobs report.Implied open on the S&P 500 up four-and-a-quarter points.”

According to Bloomberg, though, futures later fell— after ECB President Mario Draghi said policy makers cut growth forecasts.

View More
Comments
Newsy
www2