The number of unemployed persons was 15.1 million in November. The unemployment rate edged up to 9.8 percent; it was 9.6 percent in each of the prior 3 months.
Remember the reason, stated in the release itself, that the number is actually much higher: (Paragraph 7 of release}
About 2.5 million persons were marginally attached to the labor force in November, up from 2.3 million a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. (See table A-16.)
Areas still above the official national average in August for unemployment are:
Rhode Island- 11.4%
South Carolina- 10.7%
Data obtained from Bureau of Labor Statistics on the Local Area Unemployment Statistics page.
The projections were 150,000 jobs added and only 39,000 actually were. 15 million unemployed with 6.3 million unemployed for six months or longer.
Analysts generally estimate that the economy needs to add at least 100,000 to 125,000 jobs a month simply to keep up with new entrants to the labor force. So if employers keep hiring at the current pace, it will not help reduce the unemployment rate for some time.
Jeff G. at Protein Wisdom gets the quote of the day:
So. Unemployment is increasing. The Fed is printing money. And what is the Pelosi House doing? Passing tax increases on small business owners and the “rich” (families that make over $250k) — and then pledging to spend $4.5 BILLION on another layer of bureaucratic oversight added to school lunches at the behest of the First Lady, who it appears is now the unelected Czar of the country’s food policies.
Democrats have had control of the House of Representatives and the Senate for 4 years. Democrats have had control of the House of Representatives, the Senate AND The White House for 2 years.
What they are doing is not working. Period. Yet here they are continuing to play the same political games, refusing to give businesses the stability and security they need to feel comfortable hiring again and instead are taking "show" votes and declaring tax war on the very individuals we need.
Reminder from July, 2010:
The graph, provided by RedState, says it all.