http://www.mercurynews.com/business/ci_27075584/u-s-added-more-than-300-000-jobs
http://www.realclearpolitics.com/ar...umbers_give_obama_reason_to_smile_124871.html
http://www.msnbc.com/rachel-maddow-show/us-job-growth-soars-tops-300k
U.S. job growth soars, tops 300k
Any Republicans asking “where are the jobs?” today should probably have their heads examined.
The new report from Bureau of Labor Statistics shows the U.S. economy added 321,000 jobs in November. The overall unemployment rate stayed at 5.8 and remains at its lowest point in over six years.
Once again, public-sector layoffs did not drag down the overall employment figures. Though jobs reports over the last few years have shown monthly government job losses, in November, the private sector added 314,000 while the public sector added 7,000. The latter may not sound like much, but after several years in which that total was negative, it’s at least somewhat heartening.
As for the revisions, all of the news was excellent: September’s totals were revised up from 256,000 to 271,000, while October’s figures were revised up, from 214,000 to 243,000. Combined, that’s an additional 44,000 jobs.
All told, this is one of the best jobs report Americans have seen in many years. There were some spikes in early 2010, but those were largely the result of temporary Census hiring, while this new data points to genuine, robust job growth. It remains very difficult for President Obama’s critics to explain these numbers: the hiring boom is underway after tax increases and full implementation of the Affordable Care Act.
All told, over the last 12 months, the U.S. economy has added over 2.73 million jobs overall and 2.66 million in the private sector. What’s more, November was the 50th consecutive month of positive job growth – the best stretch since 1939 – and the 56th consecutive month in which we’ve seen private-sector job growth – the longest on record.
At this point, with the calendar year nearly over, 2014 will easily be the best year for U.S. job creation since 1999.
http://www.msnbc.com/rachel-maddow-show/us-job-growth-soars-tops-300k
Above you’ll find the chart I run every month, showing monthly job losses since the start of the Great Recession. The image makes a distinction – red columns point to monthly job totals under the Bush administration, while blue columns point to job totals under the Obama administration.
Obama Smacks Republicans Right Between The Eyes With The Facts On His Record Job Growth
http://www.politicususa.com/2014/12/05/obama-smacks-republicans-eyes-facts-record-job-growth.html
President Obama hit Republicans with the cold hard facts about his job creation record, which Republicans can only dream of matching.
RNC Chairman Reince Priebus responded to the news of historic Obama job creation by saying, “Creating 300,000 jobs in one month shouldn’t be a new high; it should be the minimum we expect. Today’s jobs report shouldn’t be an aberration; it should be the norm. Sadly, it’s not.”
The president responded to the Republican criticism with a dose of reality.
The president said,
"Last month, America’s businesses created more than 300,000 jobs. This keeps a pace so far this year that we have not seen since the 1990s. So far this year, over the first 11 months of 2014, our economy has created 2.65 million jobs. That’s more than in any entire year since the 1990s. Our businesses have now created 10.9 million jobs over the past 57 months in a row. And that’s the longest streak of private sector job growth on record.
We also know that the pickup in the pace of job growth this year has been in industries with higher wages. And overall, wages are rising — a very welcome sign for millions of Americans. So we’ve got an opportunity to keep up this progress if Congress is willing to keep our government open, avoid self-inflicted wounds, and work together to invest in the things that support faster job growth in high-paying jobs. That means exports, infrastructure, streamlining our tax code, immigration reform, giving minimum wage workers a raise."
President Obama’s economy created over 300,000 jobs in a month, whereas George W. Bush averaged 58,000 jobs created per month during his presidency. Priebus said that the economy should at minimum create 300,000 jobs per month, but during the Bush years job growth only grew by 300,000 or more six times. George W. Bush also lost 300,000 or more jobs six times during his presidency.
http://www.businessinsider.com/number-of-jobs-created-per-month-by-george-bush-2012-5
The president delivered a dose of hardcore reality by highlighting the fact that he is doing something that Republican Party failed to do. Republicans created the Great Recession, while this president has dug the country out of the depths of economic despair.
Obama has accomplished this feat while being saddled with a Republican controlled House that has spent their days trying to devise ways to wreck the economy. Beyond the basic job creation numbers, President Obama has overcome Republican obstruction and gotten the economy back on the right foot.
JOBS REPORT CRUSHES EXPECTATIONS
http://www.businessinsider.com/november-jobs-report-december-5-2014-12
The US labor market is on fire.
According to the latest report from the Bureau of Labor Statistics, nonfarm payrolls grew by 321,000 in November, crushing expectations for 230,000.
This is the biggest single-month gain in payrolls since January 2012.
The unemployment rate was unchanged at 5.8%.
This marks the 10th straight month that the US economy saw payrolls grow by more than 200,000, the longest such streak since 1995.
October's report was also revised higher, from an initial reading of 214,000 job gains to 243,000.
According to the BLS' release: "In November, job growth was widespread, led by gains in professional and business services, retail trade, health care, and manufacturing."
Payrolls grew by 50,000 in the retail sector in November, with healthcare adding 29,000 jobs, manufacturing adding 28,000 jobs, and professional and business services jobs growing by 86,000.
The "U-6" unemployment rate, which also includes those who are working part time for economic reasons and those marginally attached to the labor force, fell to 11.4% from 11.5%.
The labor force participation rate also held steady at 62.8%.
Wage gains were a bit better than expected, with wages growing 0.4% month-on-month, better than expected. Year-over-year, wage growth came in at 2.1%, which was in line with expectations. The average hourly wage for all private nonfarm employees was $24.66.
The average weekly hours worked totaled 34.6, in line with expectations.
In addition to October's upward revision, September's gains were also revised up to 271,000 from 256,000.
Here is what Wall Street was expecting for Friday's report:
Nonfarm payrolls: +230,000
Private payrolls: +225,000
Unemployment rate: 5.8%
Average hourly earnings, month-on-month: +0.2%
Average hourly earnings, year-on-year: +2.1%
Average weekly hours worked: 34.6
http://www.realclearpolitics.com/ar...umbers_give_obama_reason_to_smile_124871.html
http://www.msnbc.com/rachel-maddow-show/us-job-growth-soars-tops-300k
U.S. job growth soars, tops 300k
Any Republicans asking “where are the jobs?” today should probably have their heads examined.
The new report from Bureau of Labor Statistics shows the U.S. economy added 321,000 jobs in November. The overall unemployment rate stayed at 5.8 and remains at its lowest point in over six years.
Once again, public-sector layoffs did not drag down the overall employment figures. Though jobs reports over the last few years have shown monthly government job losses, in November, the private sector added 314,000 while the public sector added 7,000. The latter may not sound like much, but after several years in which that total was negative, it’s at least somewhat heartening.
As for the revisions, all of the news was excellent: September’s totals were revised up from 256,000 to 271,000, while October’s figures were revised up, from 214,000 to 243,000. Combined, that’s an additional 44,000 jobs.
All told, this is one of the best jobs report Americans have seen in many years. There were some spikes in early 2010, but those were largely the result of temporary Census hiring, while this new data points to genuine, robust job growth. It remains very difficult for President Obama’s critics to explain these numbers: the hiring boom is underway after tax increases and full implementation of the Affordable Care Act.
All told, over the last 12 months, the U.S. economy has added over 2.73 million jobs overall and 2.66 million in the private sector. What’s more, November was the 50th consecutive month of positive job growth – the best stretch since 1939 – and the 56th consecutive month in which we’ve seen private-sector job growth – the longest on record.
At this point, with the calendar year nearly over, 2014 will easily be the best year for U.S. job creation since 1999.
http://www.msnbc.com/rachel-maddow-show/us-job-growth-soars-tops-300k
Above you’ll find the chart I run every month, showing monthly job losses since the start of the Great Recession. The image makes a distinction – red columns point to monthly job totals under the Bush administration, while blue columns point to job totals under the Obama administration.
Obama Smacks Republicans Right Between The Eyes With The Facts On His Record Job Growth
http://www.politicususa.com/2014/12/05/obama-smacks-republicans-eyes-facts-record-job-growth.html
President Obama hit Republicans with the cold hard facts about his job creation record, which Republicans can only dream of matching.
RNC Chairman Reince Priebus responded to the news of historic Obama job creation by saying, “Creating 300,000 jobs in one month shouldn’t be a new high; it should be the minimum we expect. Today’s jobs report shouldn’t be an aberration; it should be the norm. Sadly, it’s not.”
The president responded to the Republican criticism with a dose of reality.
The president said,
"Last month, America’s businesses created more than 300,000 jobs. This keeps a pace so far this year that we have not seen since the 1990s. So far this year, over the first 11 months of 2014, our economy has created 2.65 million jobs. That’s more than in any entire year since the 1990s. Our businesses have now created 10.9 million jobs over the past 57 months in a row. And that’s the longest streak of private sector job growth on record.
We also know that the pickup in the pace of job growth this year has been in industries with higher wages. And overall, wages are rising — a very welcome sign for millions of Americans. So we’ve got an opportunity to keep up this progress if Congress is willing to keep our government open, avoid self-inflicted wounds, and work together to invest in the things that support faster job growth in high-paying jobs. That means exports, infrastructure, streamlining our tax code, immigration reform, giving minimum wage workers a raise."
President Obama’s economy created over 300,000 jobs in a month, whereas George W. Bush averaged 58,000 jobs created per month during his presidency. Priebus said that the economy should at minimum create 300,000 jobs per month, but during the Bush years job growth only grew by 300,000 or more six times. George W. Bush also lost 300,000 or more jobs six times during his presidency.
http://www.businessinsider.com/number-of-jobs-created-per-month-by-george-bush-2012-5
The president delivered a dose of hardcore reality by highlighting the fact that he is doing something that Republican Party failed to do. Republicans created the Great Recession, while this president has dug the country out of the depths of economic despair.
Obama has accomplished this feat while being saddled with a Republican controlled House that has spent their days trying to devise ways to wreck the economy. Beyond the basic job creation numbers, President Obama has overcome Republican obstruction and gotten the economy back on the right foot.
JOBS REPORT CRUSHES EXPECTATIONS
http://www.businessinsider.com/november-jobs-report-december-5-2014-12
The US labor market is on fire.
According to the latest report from the Bureau of Labor Statistics, nonfarm payrolls grew by 321,000 in November, crushing expectations for 230,000.
This is the biggest single-month gain in payrolls since January 2012.
The unemployment rate was unchanged at 5.8%.
This marks the 10th straight month that the US economy saw payrolls grow by more than 200,000, the longest such streak since 1995.
October's report was also revised higher, from an initial reading of 214,000 job gains to 243,000.
According to the BLS' release: "In November, job growth was widespread, led by gains in professional and business services, retail trade, health care, and manufacturing."
Payrolls grew by 50,000 in the retail sector in November, with healthcare adding 29,000 jobs, manufacturing adding 28,000 jobs, and professional and business services jobs growing by 86,000.
The "U-6" unemployment rate, which also includes those who are working part time for economic reasons and those marginally attached to the labor force, fell to 11.4% from 11.5%.
The labor force participation rate also held steady at 62.8%.
Wage gains were a bit better than expected, with wages growing 0.4% month-on-month, better than expected. Year-over-year, wage growth came in at 2.1%, which was in line with expectations. The average hourly wage for all private nonfarm employees was $24.66.
The average weekly hours worked totaled 34.6, in line with expectations.
In addition to October's upward revision, September's gains were also revised up to 271,000 from 256,000.
Here is what Wall Street was expecting for Friday's report:
Nonfarm payrolls: +230,000
Private payrolls: +225,000
Unemployment rate: 5.8%
Average hourly earnings, month-on-month: +0.2%
Average hourly earnings, year-on-year: +2.1%
Average weekly hours worked: 34.6
