Unemployment falls to 7%
December 6th, 2013
08:46 AM ET
9 months ago

Unemployment falls to 7%

New York (CNNMoney) – Has the job market finally hit its stride? Hiring continued at a solid pace in November, and the unemployment rate fell for the right reasons.

The U.S. economy added 203,000 jobs in November. Economists surveyed by CNNMoney had predicted payroll gains of 183,000 jobs.

FULL STORY

Filed under: CNNMoney.com • Economy • unemployment
soundoff (106 Responses)
  1. tom l

    This is the lowest labor participation rate since 1979. That means of the people that are able to work, at the present time only 63% of those individuals are working. In the 8 years prior to President Obama, the lowest it ever got was 65.8% which was in December of 2008. In 2009, it drifted down to the low 65's and then into the high 64's. By 2010, it went into the low 64's and then by 2012 it fell all the way down to the 63's and dipped into the 62's before it's current standing of 63%. Those are staggering numbers. Do you realize how many people were talking about with a drop like that? There's no way to spin those numbers (although I know Sniffit will ;) ).

    December 6, 2013 11:40 am at 11:40 am |
  2. Lynda/Minnesota

    sonny chapman
    Dang, there's bunch of unhappy Repub. bloggers this Friday Morning.
    ----------

    LOL, sonny. I suspect FOX News can be credited for this constant state of unhappiness. Apparently the one goal of GOPerville is to try and make everyone as miserable as they are.

    December 6, 2013 11:42 am at 11:42 am |
  3. Rudy NYC

    I'm of the opinion that you should be paid commensurate to the skill set you bring. I'm not denigrating them whatsoever but you should get paid what you're worth to the company.
    -------------------------------
    What does skill set have to do with the skills required for the actual job that you perform? Using your faulty logic, all of the college graduates working at McDonalds should be getting paid significantly more than the minimum wage they're receiving. And, what skills do some of these upper managers and CEOs require to do their jobs? Most of the time, the only required skill is that they be good schmoozers, something at which most any bar fly is an expert.

    December 6, 2013 11:48 am at 11:48 am |
  4. Denise

    Soooo many dittohead numbers, soooo little time.....

    December 6, 2013 11:49 am at 11:49 am |
  5. Denise

    If that's the case, Boss Hogg should be paid minimum wage. He knows nothing of the subjects to which he speaks.

    December 6, 2013 11:50 am at 11:50 am |
  6. Winston Smith

    When asked if he'd rather be a liberal or conservative, the man thought pensively for hours upon end. Finally he came to a conclusion to the question and replied as such. On issues of money and personal economy I'd have to say I'm conservative, but not so much that I enjoy seeing others suffer. When it comes to social issues I'd have to say somewhat conservative but also liberal for the same reason as stated before. It's not dishonorable to see both sides of the issues, and try to strike a happy medium between the two. Whats really troubling is the number of people that believe it's one way or the other. Here's a place where no one can survive. Not even the extremist that profess to be this way can do so. It's impossible.

    December 6, 2013 11:54 am at 11:54 am |
  7. Donna

    WOW! One decnt figure after FIVE YEARS!!! Pop the champagne!!!

    This is what happens when failure becomes the norm. Even one decent number looks like a miracle. It is still FAR, FAR below where it needs to be and where it has traditionally been during other recoveries. If we had only borrowed another 5 trillion dollars and "invested" it in more green energy boondoogles that go bankrupt, we'd be so much further along. Maybe Pelosi wants to pump hundreds of billion smore into the Food Stamp program because she believes that is a great jobs plan too!

    The clueless lefties know as much about our economy as they do about the healthcare system they are now in the process of destroying, just like our economy.

    December 6, 2013 11:55 am at 11:55 am |
  8. tom l

    I'm of the opinion that you should be paid commensurate to the skill set you bring. I'm not denigrating them whatsoever but you should get paid what you're worth to the company.
    -----------
    What does skill set have to do with the skills required for the actual job that you perform? Using your faulty logic, all of the college graduates working at McDonalds should be getting paid significantly more than the minimum wage they're receiving. And, what skills do some of these upper managers and CEOs require to do their jobs? Most of the time, the only required skill is that they be good schmoozers, something at which most any bar fly is an expert.

    ========

    Wow, dude. You clearly are not in the corporate world and have no knowledge. Let me be a little more clear for you: you should be paid commensurate to the skill set you bring AND the job that is available. Is that better? You are priceless. I love how you latch on to one minor point while ignoring the rest of the comment which is quite reasonable. Unless you feel that you should be paid more for doing a job that does not require a tremendous amount of skill. Again, start at minimum wage, prove yourself and get promoted. Voila! No more minimum wage.

    By the way, perhaps I misread one of your other pearls of wisdom but were you actually saying there isn't a problem with social security??

    December 6, 2013 12:00 pm at 12:00 pm |
  9. Denise

    It worked for Beck, Hannity and Boss Hogg.....dropouts laughing all the way to the bank, making millions off of the stupidity of others.....

    December 6, 2013 12:03 pm at 12:03 pm |
  10. Woman In California

    Did this article take into consideration that an AWFUL LOT of people work at home on their computers unlike 1978?
    Please some of you smart ones enlighten me.
    -–
    If you visit even the heavily biased CNN money you will read that we currently have the lowest number of adult population working since 1978. That doesn't even count the 30 million added to the work force sine 1978. Highest number of people ever on social services. The numbers are for lack of a better word, cooked.

    -
    Anytime and I do mean anytime this country is not losing jobs it is a blessing and I don't care if the president is a democrat or a republican or if its seasonal or unseasonal. People are working. WORKING. I never cheered when Bush was in office and this country was losing jobs and anyone who loves politics that much is not fit to live in society. For once, just be glad about this and accept it for what it is. Progress.

    @ Gurgyl
    Great point.

    December 6, 2013 12:15 pm at 12:15 pm |
  11. John, PA

    Oh; the unemployment numbers given by the same people that produced the unemployment before the 2012 election; those that just flat out lied to the American people before the 2012 election.

    If you believe this; I have a car to sell you that has only been driven on Sundays.

    December 6, 2013 12:15 pm at 12:15 pm |
  12. Tommy G

    Rudy NYC
    I'm of the opinion that you should be paid commensurate to the skill set you bring. I'm not denigrating them whatsoever but you should get paid what you're worth to the company.
    -----------
    What does skill set have to do with the skills required for the actual job that you perform? Using your faulty logic, all of the college graduates working at McDonalds should be getting paid significantly more than the minimum wage they're receiving. And, what skills do some of these upper managers and CEOs require to do their jobs? Most of the time, the only required skill is that they be good schmoozers, something at which most any bar fly is an expert.
    ----

    YIKES!!! It appears people with as much knowledge as you are staffing the Obama administration which completely explains why we are still at record levels of unemployment.

    McDonald's does not NEED people with college degrees to cook and bag hamburgers and fries therefore does not pay for that needless job skill. The person with those skills needs to find a company in need of them and willing to pay the market rate for them.

    Have you EVER actually gone out and gotten a real job? Don't you know how this works? People are not guaranteed jobs when they graduate college. And right now, thanks to Obama, the Democrats, and clueless lefties like yourself, the job market stinks. The Millenials are finally getting a clue and abandoning Obama in droves. You might to try doing the same.

    December 6, 2013 12:16 pm at 12:16 pm |
  13. John, PA

    Oh; and when did the bar get set so low for a president and an administration; that the president and those in the administration can just flat out lie to the American people?

    December 6, 2013 12:18 pm at 12:18 pm |
  14. Getoverit

    And it will go right back up in January after all the seasonal jobs are gone.

    December 6, 2013 12:18 pm at 12:18 pm |
  15. Hammerer

    And where did these numbers come from?
    Dept of Labor.
    So how can one believe them?
    This regime has lied about everything so far!

    December 6, 2013 12:20 pm at 12:20 pm |
  16. Dominican mama 4 Obama

    Unfortunately, a fast food worker does not have a unique or honed skill set .... If they are good at their job, they will get promoted or go to a different company that values their skills.
    -------------------------------------------------
    Value what skills tom l?
    According to your post they don't have any.

    December 6, 2013 12:20 pm at 12:20 pm |
  17. Woman In California

    This is ridiculous! Unemployment numbers fell and people are actually upset? Only in America.

    December 6, 2013 12:24 pm at 12:24 pm |
  18. Dominican mama 4 Obama

    Woman in California
    I never cheered when Bush was in office and this country was losing jobs and anyone who loves politics that much is not fit to live in society. For once, just be glad about this and accept it for what it is. Progress.
    -------------------------------------------------
    Amen to that!

    December 6, 2013 12:25 pm at 12:25 pm |
  19. Anonymous

    tom l

    This is the lowest labor participation rate since 1979. That means of the people that are able to work, at the present time only 63% of those individuals are working. In the 8 years prior to President Obama, the lowest it ever got was 65.8% which was in December of 2008. In 2009, it drifted down to the low 65's and then into the high 64's. By 2010, it went into the low 64's and then by 2012 it fell all the way down to the 63's and dipped into the 62's before it's current standing of 63%. Those are staggering numbers. Do you realize how many people were talking about with a drop like that? There's no way to spin those numbers (although I know Sniffit will ).
    ________________________
    No spin, Tom. These are the HIGHEST employment participation numbers since that liitle economic unpleasantness that occurred under Bush. The thing you cannot spin is that the Right has done nothing to fix this. They have blocked virtually every initiative of the President, and in fact in October tried to crash the economy again by voting for default.

    December 6, 2013 12:26 pm at 12:26 pm |
  20. Denise

    shhhhhhh....these are the same clowns that gave us President Romney......lol

    December 6, 2013 12:27 pm at 12:27 pm |
  21. Denise

    I didn't vote for Bush, but I certainly didn't think he was out to destroy America. To what end would this serve?

    December 6, 2013 12:28 pm at 12:28 pm |
  22. Anonymous

    smith

    @RS-How about joing the military and then you can got to college for free.
    __________________
    have you noticed- the wars are nearly over. What is the military taking?

    December 6, 2013 12:28 pm at 12:28 pm |
  23. Fair is Fair

    Exactly what kind of job do you give a high-school dropout whose reading skills are at the 4th grade level, communication skills are atrocious, and don't even ask about math skills?

    December 6, 2013 12:29 pm at 12:29 pm |
  24. Denise

    Boss Hogg is fortunate not to be working in fast food due to his lack of education and work ethic. Think of all those free burgers and fries he could have....He'd be a great pharmacy clerk counting pills though.....oops, some are missing.....

    December 6, 2013 12:29 pm at 12:29 pm |
  25. Denise

    Most of those jobs are in red states....

    December 6, 2013 12:30 pm at 12:30 pm |
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