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View Diary: Government reports 146,000 new jobs in November; unemployment rate drops to 7.7% (108 comments)

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  •  Don't get too exicited (1+ / 0-)
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    ColoTim

    The details don't look as good as the headline.

    1. Huge rise in clothing store employment! +33K. Really???? Now at the second highest level in last 10 years. Really????

    2. Big rise in drinking establishments/gambling etc. I'm sure that is good for the economy and good high paying jobs (maybe if you count the tips). Again ... Really????

    3. Goods producing sectors lost jobs!!! -22K That isn't good.

    There's room at the top they're telling you still But first you must learn how to smile as you kill If you want to be like the folks on the hill

    by taonow on Fri Dec 07, 2012 at 06:19:07 AM PST

    •  The loss in manufacturing jobs in Nov. pretty (5+ / 0-)

      much is directly attributable to Sandy.

      "A candle loses nothing by lighting another candle" - Mohammed Nabbous, R.I.P.

      by Lawrence on Fri Dec 07, 2012 at 06:23:11 AM PST

      [ Parent ]

    •  There is this thing (7+ / 0-)

      called Christmas - and clothing stores maybe hiring ahead of this.

      Every report that beats expectations bring out bears who look at variances and say: the data is wrong!!!  

      This was better than anyone expected, and we appear no closer to recession now than we were a year ago, despite many predictions to the contrary.

      Still - not great numbers.  Not bad numbers.

      The bitter truth of deep inequality has been disguised by an era of cheap imported goods and the anyone-can-make-it celebrity myth - Polly Toynbee

      by fladem on Fri Dec 07, 2012 at 06:39:28 AM PST

      [ Parent ]

    •  Indicators that the overall economy is improving (6+ / 0-)

      I look at things like increases in clothing store employment, and the overall increase in retail employment, as a good indicator that retailers are seeing enough of an improving economy that they're hiring.  Same thing with employment in leisure and hospitality sectors like drinking establishments.  People spend more in these establishments when they have more confidence in their own economic circumstances.  I view increases in employment in these sectors as proxy indicators for an overall improvement in the economy.  People don't spend money on luxuries like going out to eat if they are worried about paying for necessities like housing, food, and utilities.

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