CNBC explains why last week's jobs numbers are bad news

[dogtowner]

I would not have thought any NBC would admit this

but the are right on the money

1) The payroll diffusion index fell from 59.6 to 54.7 from October to November. Diffusion indices are simple counts of who's adding jobs and who's not. For instance, if five companies are polled and three say they are adding jobs, the diffusion index would be 60. The drop "implies that the breadth of hiring is weakening; there are not as many industries adding jobs," Dutta said.



2) Average hourly earnings fell 0.1 percent and are up just 1.9 percent from 2010, meaning there "has been almost zero movement in the rate of wage growth," he said.



3) Those "not in the labor force" jumped by 487,000, including 338,000 who either lost their jobs or just quit looking.



4) Of the 120,000 new jobs, 49,800 came from retail, and the majority of those came at clothing stores. Dutta calls the "fairly outsized gain" unlikely to hold up once the holiday season passes.



5) Even though the household survey component of the jobs report - an actual headcount of working Americans - has shown a gain of 1.28 million over the past four months, the monthly moves have not been "statistically significant," or beyond the 400,000 range that would normally indicate a sustainable growth level.



6) The household survey has improved 1.2 percent over the past year, but it has begun running in tandem with the establishment, or estimated, part of the unemployment count, making it less of an important gain and more just a "function of the two employment series converging."

 

[pocketfullofshells]

Yes it is shocking that they reported what i saw reported on MSNBC, CNN< and in the newspaper...very shocking..


But don't worry we all knew republicans would find a way to make creating more jobs bad news, while they try to find way so to put more out of work.

 

[Openmind]

I would not have thought any NBC would admit this

but the are right on the money

​

Yep, and still the POSITIVE trend in job creation continues!

 

[pocketfullofshells]

Yep, and still the POSITIVE trend in job creation continues!

if you cover your left eye, and make the red disappear...you can be a republican!