Unemployment rate falls to 4.2%, Economy adds 210,000 jobs

[Johnny2X2X]

https://www.bls.gov/news.release/empsit.nr0.htm

550,000 jobs were expected, but the UE rate is a huge drop. These have been getting revised by large amounts in coming months, this will be played a s a big miss, but it will probably end up really good.

Wage growth is breaking records, almost a 5% increase in the last year.

[bearsfootball516]

1. It'll likely be revised in the future and end up being very good.

But for now, there will be tons of "HORRIBLE JOBS REPORT DOOMS BIDEN AND DEMOCRATS" headlines.

[Sanity Claws]

2. Significant drop in unemployment rate

But NY Times portrays the situation as gloom.

Employers added 210,000 jobs last month, the Labor Department reported Friday, well below the half-million gain that had been expected. While the data was collected well before the Omicron variant emerged, the figures underscore the economy’s fragility as the pandemic persists.

https://www.nytimes.com/2021/12/03/business/economy/november-2021-jobs-report.html?campaign_id=60&emc=edit_na_20211203&instance_id=0&nl=breaking-news&ref=cta&regi_id=76853597&segment_id=75996&user_id=d9dae46f763eb13429ddb5156b61f1bc

I am so sick of all the spin.

[Norbert]

3. Supply chain issues continue dog jobs

As that eases, things will improve.

https://www.msn.com/en-us/money/markets/november-jobs-report-misses-forecasts-as-us-adds-just-210000-new-jobs-amid-supply-chain-nightmare/ar-AARqDxw?ocid=BingNewsSearch

[doc03]

4. When Trump took office the unemployment rate was 4.7% when Biden took

office he inherited a 6.3% unemployment rate. The MSM will not mention that fact though.

[Johnny2X2X]

5. 4.2% UE is nearing full employment

The fact Biden got us this close to the record lows in less than a year on the job is incredible.

[Norbert]

8. Exactly

[budkin]

6. The problem with pre-revised numbers is the press gets to run with more Biden bashing

Again... and again... and again.

[Wounded Bear]

7. I'm learning to basically ignore the jobs numbers...

at least until the first "amended" numbers come out.

Most of the rest of the report is pretty positive.