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The PJ Tatler

by
Bryan Preston

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November 8, 2013 - 8:17 am

Early holiday hiring may have driven unemployment down a notch.

There were a net 204,000 new jobs created for the month, though the unemployment rate rose to 7.3 percent and households reported a huge drop in employment, the Bureau of Labor Statistics said. A separate measure that includes the underemployed and those who have quit looking also moved higher, from 13.6 percent to 13.8 percent.

The numbers easily topped economist expectations of 120,000 new nonfarm payroll jobs for the month, though it matched estimates for a slight increase in the headline jobless rate.

Leisure and hospitality led the way in job creation with 53,000 new positions, 29,000 of which came from bars and restaurants. Professional and technical services added 21,000 while manufacturing contributed 19,000, according to the establishment survey of businesses.

“Leisure and hospitality” — not the kind of jobs that should be leading the way.

So the “unemployment rate” — which has deserved air quotes during much of Obama’s reign — is down but there are still more Americans just giving up looking for work. In the Obama economy, there ain’t no jobs but McJobs.

The shutdown didn’t have the apocalyptic impact on jobs that many predicted, but Obamacare may cause an unexpected! spike in January. We’ll see. Obamacare’s perverse incentives encourage millions to reduce their income to qualify for subsidies, and they encourage businesses to cut worker hours, which will cut income. Obamacare also encourages small businesses to keep below the 50-worker threshold. Expect all of these incentives to impact the holiday hiring season, which is now in full swing. And expect sticker shock to force many to curb their holiday shopping significantly.

And then expect economist to be blindsided by all of this next year.

Bryan Preston has been a leading conservative blogger and opinionator since founding his first blog in 2001. Bryan is a military veteran, worked for NASA, was a founding blogger and producer at Hot Air, was producer of the Laura Ingraham Show and, most recently before joining PJM, was Communications Director of the Republican Party of Texas.

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All Comments   (6)
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upto I looked at the receipt ov $5643, I didn't believe ...that...my mother in law was like actualey erning money parttime at there labtop.. there neighbour haz done this for less than 15 months and a short time ago repaid the dept on their mini mansion and bought themselves a Mercedes-Benz S-class. Visit This Link ..........http://www.works23.com
22 weeks ago
22 weeks ago Link To Comment
my classmate's mother-in-law makes $82 an hour on the computer. She has been laid off for eight months but last month her pay was $19991 just working on the computer for a few hours. you can try this out.......>>>>WWW.Bay95.COM
22 weeks ago
22 weeks ago Link To Comment
Yeah no kiddin'. Meet one of FedEx's newest drivers. Thanks, Oconomy!
22 weeks ago
22 weeks ago Link To Comment
What would be really interesting is if some economist could publish a comparison chart that tracked employment rates over the course of, say 40 years, but broke out that chart so that every time a new methodology of calculating the unemployment rate was adopted by the government that this rate was properly color coded while the line representing the original method of calculating the unemployment rate was retained as well within the same chart for comparison purposes.

It would be very interesting to see how employment rate numbers would look right now if the same methodology as was used during the recession of the 1970's and early 1980's were applied to today.
22 weeks ago
22 weeks ago Link To Comment
Go to shadowstats.com and you will get the information you need. And while it is interesting it just solidifies your instinctive understanding that the mob runs our country. Well not the real mob as it would run pretty damn smoothly but the ideological idiot mob...
22 weeks ago
22 weeks ago Link To Comment
I think they do do that. They list it as the U-6 unemployment rate or the U-5 unemployment rate. The U-3 unemployment rate is the one that gets changed and constantly gets cited by the media. Currently the U-6 rate is 13.8% unemployment.
22 weeks ago
22 weeks ago Link To Comment
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