American Sauce: Unemployment: Three things the pack might miss
December 3rd, 2010
12:04 PM ET
10 years ago

American Sauce: Unemployment: Three things the pack might miss

Washington (CNN) - The headline is obvious and may be omnipresent today: unemployment jumped up from 9.6 percent to 9.8 percent in November and job creation took a nose dive.

But this month's report is full of other key findings the pack might miss. Here are three:

–Finding a Job Takes Longer: On average, Americans are spending a month longer looking for work now than they did last year. In November, the average person on unemployment rolls spent 33.8 weeks or roughly eight months there. It was 29.4 weeks in November of 2009. (Remember that 6.3 million Americans are considered to be "long-term unemployed" meaning they have been jobless for 27 weeks or more.)

–More People Are Giving Up: Last month, 1.3 million people dropped off the unemployment rolls because they do not believe there are any jobs available to them. The Labor Department calls them "marginally attached" and does not count them toward the unemployment rate.

That 1.3 million figure represents a huge increase in discouraged workers, up 421,000 people from November 2009.

–Increasingly Bipolar: While we heard bleak news about November, the Labor Dept. says the previous two months were better than they thought. The agency now says a whopping 172,000 jobs were created in October, up from the first estimate of 151,000.

And while September was a net loss now the Labor Department estimates it was more mild than last thought. The Labor Department's revised figure shows jobs dropped by 24,000 that month, a less biting figure than the previous estimate of 41,000 jobs lost.

It is a time of economic shakes: November lost 39,000 jobs, October gained 172,000 and September was a loss of 24,000.

Listen to CNN's "American Sauce" here.

Filed under: American Sauce • unemployment
soundoff (28 Responses)
  1. resolaru

    Nancy Pelosi, the wicked witch of the west, the DemocRAT gift that just keeps on giving

    Welcome to The Obama DEPRESSION people. Running up TRILLION dollar deficits

    you gotta love the dopes like the guy above who obviously was not paying attention from 2000-2006 when the republicans were in charge and ran up trillion dollar deficits. just adds support to the notion that if you did not get past the 9th grade, you should take some type of IQ test to vote. way to keep your eyes on the ball there spiffy

    December 3, 2010 02:25 pm at 2:25 pm |
  2. rob

    The agency now says a whopping 172,000 jobs were created in October, up from the first estimate of 151,000.

    "WHOPPING"????? CNN, there was a colorfull quote from the election in 2008 "You can put lipstick on a pig, but its still a pig" THERE NEEDS TO BE 150,000 JOBS CREATED EACH MONTH JUST TO KEEP UP WITH INCREASING POPULATION.

    December 3, 2010 02:26 pm at 2:26 pm |
  3. Dave

    I love all these useless posts. Conservatives hate liberals; liberals hate conservatives. Let me tell you something. 2 million plus unemployed (that includes my son in law and his extended family) can't stand any of you. You waste your time firing meaningless salvos of hate at each other instead of coming together to solve problems. Meanwhile the rest of the country suffers tremendously.

    I am going to let you in on a little secret. The right wing and the left wing had better get their act together and talk. Both parties really don't want 2 million plus unemployed ticked off people without unemployment benefits. I know my family is angry when these posts label my son in law deadbeat when he has been looking for a job for a long time and going to school full time. The 2 million plus unemployed are about to teach both parties a very painful lesson after the first of the year if they don't get their act together.

    December 3, 2010 02:37 pm at 2:37 pm |
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