Payrolls Rise 178K As Unemployment Rate Tumbles To 4.6% -Hourly Earnings Slide

[Achilles]

Payrolls Rise 178K As Unemployment Rate Tumbles To 4.6% But Average Hourly Earnings Slide

by Tyler Durden
Dec 2, 2016 8:35 AM



While the headline November payrolls print came in almost on top of expectations at 178K, vs consensus of 180K there were two big surprises in today's report, one being the unemployment rate which plunged from 4.9% to 4.6%, well below the 4.9% expected, but the biggest negative surprise was that the Average hourly earnings in November dropped by 0.1%, far below last month's 0.4% rise, and below the 0.2% expected with the annual increase growing by a far more modest 2.5% than the 2.8% expected.




http://www.zerohedge.com/news/2016-12-02/payrolls-rise-178k-unemployment-rate-tumbles-46-average-hourly-earnings-slide

[jimmyb]

Payrolls Rise 178K As Unemployment Rate Tumbles To 4.6% But Average Hourly Earnings Slide

by Tyler Durden
Dec 2, 2016 8:35 AM



While the headline November payrolls print came in almost on top of expectations at 178K, vs consensus of 180K there were two big surprises in today's report, one being the unemployment rate which plunged from 4.9% to 4.6%, well below the 4.9% expected, but the biggest negative surprise was that the Average hourly earnings in November dropped by 0.1%, far below last month's 0.4% rise, and below the 0.2% expected with the annual increase growing by a far more modest 2.5% than the 2.8% expected.




http://www.zerohedge.com/news/2016-12-02/payrolls-rise-178k-unemployment-rate-tumbles-46-average-hourly-earnings-slide

Takes a lot of part time workers to fill full time jobs of course the numbers look good to everyone except the employees..
Thank you Obama don't let the door hit you in the @ss on the way out...

[Argonaut]

Humm. No mention as to the number of eligible people no longer looking for work. Or did I miss that?

I don't work by choice. I retired 14 years ago. Only "work" when my wife volunteers me at the co-op store in town.

[lonewolfinoregon]

People on the STREET is not buying what YOU'RE SELLING!!!!!

[HouseWolf]

Humm. No mention as to the number of eligible people no longer looking for work. Or did I miss that?
.

Its bad. REAL bad.

The November jobs report looked pretty good on the surface except for one number that popped off the page: 95 million.

That's the number of Americans now counted as not in the labor force, a historic high that has confounded economists and policymakers. The total — 95.06 million to be more exact — has been rising consistently but surged by a gaudy 446,000 last month.
The jump occurred as the U.S. economy added 178,000 jobs and the headline unemployment rate dropped sharply.

http://www.cnbc.com/2016/12/02/95-mi...bor-force.html

The obama economy has been a brutal "fundamental transformation".

[Wiskey Reb]

Y'know...a nice campaign promise would have been to actually calculate unemployment using real numbers rather than fabricated statistics.

[ractivist]

Y'know...a nice campaign promise would have been to actually calculate unemployment using real numbers rather than fabricated statistics.

I'd bet that's coming. Be good way to emphasis honesty. As in "lets get honest folks"......... and then give the accurate number that appears to be true....32% plus or minus. Be nice to really know. It paves the way to forecast the coming collapse and put it on Obama and company, and then he needs to show Bush's impact.....for the record.

[AskYourselfWhy]

Humm. No mention as to the number of eligible people no longer looking for work. Or did I miss that?

I don't work by choice. I retired 14 years ago. Only "work" when my wife volunteers me at the co-op store in town.

The point was mentioned on the dinner hour news tonight. It is significant.

[lonewolfinoregon]

The point was mentioned on the dinner hour news tonight. It is significant.

Surprised NBC National News brought this up!!!!

Tactical shift, watch for them to bring this up after Trump is sworn in as part of their BAD ECONOMIC NEWS lines.....