Friday, December 3, 2010

Unemployment's ugly number rose to 9.8%, bad news all around

Well, if the Obama Administration did not know that JOBS, JOBS, JOBS is what this country wanted and put them in charge to head, they know now.

This economy is not getting better and no amount of spin will help. Oh, U.S. just added 39K jobs last month and that is pathetic.

And extending unemployment is a non-brainer, including adding another tier. If congress, on both sides of the aisle, fail to do this, there will be hell to pay down the road.

Employers added fewer jobs than forecast in November and the unemployment rate unexpectedly increased, underscoring the Federal Reserve’s decision to pump more money into the economy to spur growth.

Payrolls increased 39,000, less than the most pessimistic projection of economists surveyed by Bloomberg News, after a revised 172,000 increase the prior month, Labor Department figures showed today in Washington. The jobless rate rose to 9.8 percent, the highest since April, while hours worked and earnings stagnated.

Read more here
Bloomberg News

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