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U.S. economy adds 146,000 jobs, unemployment rate falls to 7.7 percent

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  • don17 Temecula, CA
    Dec. 7, 2012 7:10 a.m.

    In the last 3 weeks over 900,000 people applied for first time unemployment benefits. 500,000 people had their benefits end so they are no longer counted and California is 8 days behind in processing extended benefits. The facts show that job creation is anemic. 146,000 jobs created is not solid! It does not even keep up with the natural monthly population growth coming into the workforce. 150,000 to 225,000 per month are needed to just keep up with even. Solid job growth is 400,000 per month. That will start to truelly reduce overall unemployment: The Real unemployment number 15.1 percent. This point in the Reagan recovery saw job growth at 500,000 to 1 million jobs per month. Bad is Bad! Our economy is Bad off. No twisting of facts changes that.

    These pathetic numbers do not include Panasonic's 10,000 cuts, Lockheed Martin's 123,000 cuts, Boeings 68,000 cuts, Hostesses 18,500 cuts, Citibanks 11,000 cuts ect. Or the additional 800,000 cuts coming from sequestration and the end to all the part time Christmas jobs in 4 weeks. Then the closures or cut backs by major retailers in stores.

  • liberal larry salt lake City, utah
    Dec. 7, 2012 7:16 a.m.

    My condolences to conservatives. I know how much you have invested in our countries economic plight, and this bright spot must cause you un-told misery, all I can say is, "I feel your pain."

  • Say No to BO Mapleton, UT
    Dec. 7, 2012 7:23 a.m.

    Now that the dust is settling a bit on unemployment numbers, maybe we can address to long-term, hard core unemployed.
    Conventional wisdom says that 4% is about as low as the rate can go.
    But there is apparently another number, off the radar, of those who have given up looking for work. They don't count in the unemployment number, but they are still out there.
    How big was that number five years ago and how big is it now.
    And the real question: Why do we still have forgotten men?

  • xscribe Colorado Springs, CO
    Dec. 7, 2012 8:02 a.m.

    Who would have guessed that there would be posts naysaying these numbers and giving their own version of reality? Anyone besides me?

    Say no: I hope by your last sentence you mean mankind and not just men!

  • FT salt lake city, UT
    Dec. 7, 2012 8:03 a.m.

    The Romney recovery is taking hold.

  • one vote Salt Lake City, UT
    Dec. 7, 2012 8:18 a.m.

    How about that President! The doom and gloomers must be real down. Nothing like an economic recovery to depress the conservatives not in power.

  • 1conservative WEST VALLEY CITY, UT
    Dec. 7, 2012 9:34 a.m.

    7.7 is great - as far as it goes.

    Apparentally those hard-working employees that have just dropped off the radar and are now at the food bank to get by don't count for much.

  • AZRods Maricopa, AZ
    Dec. 7, 2012 9:55 a.m.

    To suggest that any of us wouldn't be thrilled to see a true up tick in the economy is just silly.
    Yes many of us conservatives would have to admit that the other guy's plan is actually working.
    BUT, to suggest that things are clearly improving is being naive and gullable and even worse, believing that the current economic plan is working.
    To ignore the fact that unemployment always takes a dip around Christmas is simply an annual tradition.
    And adding 146000 jobs doesn't begin to put a dent or even keep up with the current job losses.
    Let's talk again around Jan-Feb and see how many of you are beating on your chests over this solid recovery.

    With no cutbacks on spending, obamacare and higer taxes on the horizon no one should be surprised to see the same results as the first 4 year gave us. Perhaps even worse.

    That's not doomsday talk or hoping for the worst.
    It's simple reality.

  • xscribe Colorado Springs, CO
    Dec. 7, 2012 9:56 a.m.

    Anyone want to bet that if Romney were elected president and these same numbers came out, a lot of posts would say something much different from what is being posted today?

  • worf Mcallen, TX
    Dec. 7, 2012 10:52 a.m.

    This is mostly part time holiday help, people giving up & no longer looking for work, and Sandy clean-up.

  • curious george Smalltown, UT
    Dec. 7, 2012 11:09 a.m.

    The main reason for the 146K increase of jobs this quarter is the addition of temporary employment by retailers for the holiday season. After Christmas the numbers will go right back to where they were a few weeks ago. Please, liberals don't start crowing yet and conservatives don't get you knickers in a bind. Until some real solutions to the economy are addressed there will be little change one way or the other.

  • LDS Liberal Farmington, UT
    Dec. 7, 2012 11:25 a.m.

    Conservatives hate good news.
    They want America to fail, so Obama appears to fail.

    They'll be trash talking every bit of America's good news for another 4 years.

    It's what keeps their mentors and heros Limbaugh, Hannity and Beck - $Billionaires.

  • LDS Liberal Farmington, UT
    Dec. 7, 2012 11:46 a.m.

    In other news --
    The Communist Chinese are getting yet another raise.

    So today -
    Apple announced that it will begin "in-sourcing" high-tech production of it's Macs to the United States in 2013.

    Gotta love it.
    Out-sourcing during Bush years ,
    In-sourcing with Obama, just like he promised.

    But - Political hacks will STILL not like it.
    Party Politics supercede America in general.

  • DN Subscriber 2 SLC, UT
    Dec. 7, 2012 11:58 a.m.

    These favorable reports demand a bit of analysis:
    By decreasing the number of people in the work force, the percentage of unemployed was made to be lower.

    Which begs for recalling some famous quotations

    "Figures don't lie, but liars figure."

    "You can fool some of the people some of the time, and all of the people some of the time, but you cannot fool all of the people all of the time."

    "There is a sucker born every minute."

    Thus concludes today's lesson in Obamanomics.

  • atl134 Salt Lake City, UT
    Dec. 7, 2012 11:59 a.m.

    @worf and curious george
    You mentioned the holiday season, which is a good point except that the unemployment rate is already a seasonally adjusted statistic so that's factored into it.

  • LDS Liberal Farmington, UT
    Dec. 7, 2012 12:26 p.m.

    I heard the CEO of Northrup Grumman say the other day that his company can not even begin to start hiring due the Congressional Fiscal Cliff.

    So -
    If Republicans really wanted to put people back to work, in GOOD paying jobs - Get to it!
    Stop obstructing, and quit holding America hostage!

  • Screwdriver Casa Grande, AZ
    Dec. 7, 2012 1:03 p.m.

    HAHA FT, "The Romney recovery is taking hold." funny

    I bet that's awkward around the Romney dinner table. "So the economy is picking up." "Shut up."

  • Belching Cow Sandy, UT
    Dec. 7, 2012 1:07 p.m.

    LOL! Reality will settle in soon enough. I think I'll bookmark this story to come back to for a laugh when things hit the fan.

  • Redshirt1701 Deep Space 9, Ut
    Dec. 7, 2012 1:21 p.m.

    The ironic thing is that the people who cheer this don't bother to look at the BLS statistics that show that the labor participation rate dropped by .2% from October to November, and that the labor participation rate has been dropping ever since Obama took office.

    So lets cheer that the Obama economy lowers unemployment rates by getting people to quit looking for work!!! Yea, lets kick out more people from the workforce, eventually we will have an unemployment rate of 0%. Just look at how well Obama is doing this. When Obama took office we had 65.7% participation in labor, and now we are at 63.6% Another 4 year we will be back to Bush level unemployment rates, and Carter era participation rates!!

  • lost in DC West Jordan, UT
    Dec. 7, 2012 3:48 p.m.

    Gallup reported LESS people are working full time for an employer in November 2012 than the same period in each of the prior two years. So the question is, what KIND of jobs have we seen and are people really better off?

    AZrods,
    No BO’s plan is not working – he HAS no plan other the punitive tax rates which Boehner is holding off, and other methods of wealth redistribution. Any improvement in the economy is IN SPITE of BO, not because of him.

    What specifically has BO done to help the economy? Less than 5% of the porkulus had been spent when the recession ended 2Q 2009, so it CLEARLY was NOT the porkulus. What specifically has BO done? Screwdriver? LDS lib? FT?

    LDS lib,
    We want BO to fail, so America will succeed. If BO were not holding middle class tax cuts hostage, there may be some progress on the fiscal talks. But BO is recalcitrant.

  • Tolstoy salt lake, UT
    Dec. 7, 2012 4:47 p.m.

    @redshirt
    what a surprise I went and actually read the BLS report and it clearly states that the participation is unchanged from a year ago. As usual you seem to have failed to actually read the source you reference.

    @lost in DC
    again the BLS report clearly shows your claim is false. the rate has changed very little. Thank redshirt for the reference.

  • WHAT NOW? Saint George, UT
    Dec. 7, 2012 7:52 p.m.

    I knew this would happen when Mitt was elected...

    Oh wait...

    If Mitt was elected the rate would already be down to 3.7%.

  • worf Mcallen, TX
    Dec. 7, 2012 9:55 p.m.

    Amazing how anyone can believe in Obama promises.--LDS Liberal. You believe?

    Remember cutting the deficit in half?

    Deficit spending is irresponsible, and unpatriotic.--Sixty percent of our deficit in the passed three and a half years.

    Look at the cost of living in California, New York, and Hawaii. Liberal states getting what they voted for. Ha! Look at Greece.

    Too bad, the rest of us have to suffer for your liberal ways.

  • My2Cents Taylorsville, UT
    Dec. 8, 2012 4:31 a.m.

    Calling it the Romney recovery is why it really didn't matter who got elected, both people had this evolution of disaster programmed to happen. Obama is trying to destroy the country and economy, and Romney just doesn't have the gift to fix it by also being a socialist slaver.

    In the last 40 years the unemployment numbers and statistics have become irrelevant fodder food for the news media based on manipulated irrelevant facts. What's more important than temporary jobs and business added are the data of welfare, unemployment, and removed from sight have long exceeded the GNP.

    We are paying people on welfare more than people can make working. The median tax free income for welfare is $30,000/yr @ $30/hr to do nothing. While the median taxable income for workers has declined to $25,000/yr $25/hr minus taxes = $17,000/yr. This means we are spending more to take people out of the job market than taxed workers can sustain.

    It also means our economy is in reverse and going faster as it dives like a nuclear bomb when we reach the bottom of the cliff. Obama has run out of other peoples money to spend.

  • lost in DC West Jordan, UT
    Dec. 9, 2012 8:23 a.m.

    Tolstoy,
    to which claim are you referring?

    Gallup DID report what I said they reported

    BO DOES want to redistribute wealth - Boehner IS trying to hold him off

    There has been some slight improvement despite BO

    but then, my 5% comment did use as its source the NYT, so it could be erroneous

    and the BLS participation rate does not distinguish between part-time and full time employment, so Gallup CAN report full-time employment down. Please do not call me a liar without substantiating what it is you are talking about.

  • raybies Layton, UT
    Dec. 12, 2012 5:55 a.m.

    Sounds like some companies are creating hiring buffers... very smart for when we hit the fiscal cliff.