The November employment report was just released. According to the government the economy created 146,000 jobs last month although the same report revised the September and October figures down by about 60,000 jobs. The net increase in jobs from last month's report is 86,000. Meanwhile unemployment supposedly went down significantly to 7.7% on the strength of the paltry number of new jobs. That is because well over half a million people gave up looking for work. So we have just a few more jobs than last month, but the story is about the "good" news of a decline in the unemployment rate because people in distress have thrown in the towel. In other words, nothing has really changed.
Sometimes I wonder why they bother issuing these reports each month.
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