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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

New jobless claims unexpectedly rise

New jobless claims filed last week made a surprise jump to 474,000, the Labor Department said moments ago, up from 457,000 the week before.

Continuing claims dropped to 5.16 million last week from 5.46 million the week before.

Forecasters expected last week's new jobless claims to come in at 450,000.

The four-week moving average for new jobless claims last week fell 7,250 to 473,750.

Economists believe that sustained jobs growth cannot occur until the number of new weekly jobless claims dips below the mid-400,000s.

The nation's overall unemployment rate for November was 10 percent, down from 10.2 percent in October.

-- Frank Ahrens
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By Frank Ahrens  |  December 10, 2009; 8:39 AM ET
Categories:  The Ticker  | Tags: jobless claims, unemployment  
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Comments

Continuing claims dropped because those claimants lost their unemployment benefits, not because the job situation improved. Obama wasted the stimulus package on political objectives and not actual job creating stimulus...like needed infrstructure projects. Now we don't have the money for stimulus and those degenerates in Congress are ignoring the unemployed who need our help now.

Posted by: johnwashingtondc | December 10, 2009 8:58 AM | Report abuse

Having lived through a dictatorship, I know well enough how reports to the public (such as job numbers) are altered/doctored/massaged before the leader of the nation makes an announcement.

The title 'Jobs claims rise unexpectedly' is wrong. Obama needed fudged jobs numbers as he called for a jobs summit and outlined his plans to create jobs.

I'm sorry but politicians only know how to spend taxpayer money. Only entrepreneurs create value that is transformed into money. Obama is no entrepreneur.

Twisting the truth about jobs numbers is a very scary sign. I've been there. This should be cause for great concern and alarm.

Posted by: rexsolomon | December 10, 2009 9:03 AM | Report abuse

Time to spin these numbers... The truth is like johnwashighton says the unemployment benefits dry up so these numbers are not counted making it look like the economy is improving, which in reality it's the complete opposite...

Posted by: Steve94 | December 10, 2009 9:03 AM | Report abuse

Sure, the unemployment benefits are drying up. It is my feeling that throughout this past decade, real unemployment has been higher than reported. College graduates who have not been gainfully employed during the term of their education are not considered "unemployed" following graduation. I've heard some talk about underemployment, but it doesn't seem that much attention has been paid. Since my graduation in 2006, I've been chronically underemployed... well before any talk of recession. Meanwhile, I'm taking up space at the lowest end of the pay bracket, meaning that somebody who would ordinarily have my job is out of work. They're spending nothing, and I'm paying for rent and not much more. We're in a vicious circle, yet we can't seem to get the momentum to tax the mega-rich. Why not tax them and create a direct-hire organization like the WPA with the new revenue? We can put Americans back to work rebuilding our crumbling infrastructure and infuse cash flow back into our economy.

Posted by: ntedrow | December 10, 2009 9:19 AM | Report abuse

I've noticed that it's always "unexpected" results. Could it be these people are just as clueless as the Messiah?

Posted by: cschotta1 | December 10, 2009 9:28 AM | Report abuse

Oh no! Obama told us last week that there was reason to be positive that we went from 10.2 to 10.0 in unemployment.The economy is supposed to be stabilizing,even though we`re about to dump another 200 to 300 billion in a disguised stimulus.

Posted by: bowspray | December 10, 2009 9:30 AM | Report abuse

its NO surprise

realize we now have chicago thug books--the accpuntant only asks "what kind of numbers do you WANT?"

team obama cooked the books last week for obama's job "summit"

obama's claimed loss of only 11,000 jobs last week was contradicted by the Dept of Labors website AT THE TIME

obama--fraud deceit incompetence

Posted by: ProCounsel | December 10, 2009 9:45 AM | Report abuse

depression obama victims

there are 6 americans looking for a job for every 1 job opening

that means 5 out of 6 americans looking for a job will NOT find a job before christmas

no matter how hard they look
no matter how long they look

innocent VICTIMS of the obama unemployment class of 2009--those who HAD a job when obama was elected

then LOST their job after obama was elected

due to obama socialism--which fails every time it is tried throughout history

millions and millions of americans without a job,

broke, depressed and desperate as christmas approaches in 2 weeks

got a job?? feel secure?? so did they.....

depression obama--its why YOU may lose YOUR job

Posted by: ProCounsel | December 10, 2009 9:47 AM | Report abuse

There is no need for anyone to "have a feeling" that it is because unemployment benefits stopped or because there is some "real number" of unemployed that is not reported. The Bureau of Labor Statistics ALWAYS reports Table A-12 "Alternative measures of labor underutilization" (get it here: http://www.bls.gov/news.release/empsit.t12.htm) along with the unemployment number. And, you can see this measure ten years back by going here: http://www.bls.gov/webapps/legacy/cpsatab12.htm

Posted by: Prosperity2008 | December 10, 2009 9:47 AM | Report abuse

All the more reason to use the returned TARP money to help small businesses and encourage employment.

Posted by: tinyjab40 | December 10, 2009 9:48 AM | Report abuse

Obama better remember, everyday, for his own Presidency's sake, that it's jobs recovered or his re-election squandered.

Posted by: TalkingHead1 | December 10, 2009 9:48 AM | Report abuse

with 15 million unemployed americans

and unemployment surging after obama claimed it was reduced only just last week in front page print headlnes in the wash po

and this is the ONLY story in the wash po

and this story is not even in the print edition

but in the internet edition, fading as we speak

seems that when obama is caught misrepresenting unemployment

the correction should be given the same prominence as the

lie

Posted by: ProCounsel | December 10, 2009 9:53 AM | Report abuse

Have we done a damn thing to slow or stop outsourcing? No

Have we done anything to punish those traitorous multi-nationals who hire people for pennies on the dollar elsewhere and then hide their profits from the US gov't? No

Until we do these two major initiatives we're screwed.

Posted by: theobserver4 | December 10, 2009 9:55 AM | Report abuse

$6 million in stimulus money to a left-wing political operative.

Does anyone wonder why no one is hiring?

Posted by: Cornell1984 | December 10, 2009 9:55 AM | Report abuse

All these job numbers are inflated because of the holiday hirings, anyway. These announcements and programs are conveniently timed so that the numbers are in their favor to win support for the latest spending initiative. Wait until mid-January when the layoffs and firings begin again in earnest. 11% is not out of the question...

Posted by: hawkeye114 | December 10, 2009 9:57 AM | Report abuse

Jobless claims on the rise? Time for WaPo to pull out its never-ending series of sob stories for illegal immigrants and plump for open borders and mass increased immigration again!

Posted by: MaryJessel | December 10, 2009 10:05 AM | Report abuse

Where is the phrase "jobless recovery" in all of this?

Posted by: TooManyPeople | December 10, 2009 10:05 AM | Report abuse

WHITE HOUSE'S NEW ECONOMIC PUBLISHING POLICIES

(WASHINGTON DC) White House Press Czar Gibbs announced the media coordination guidelines for economic data.

"Rises in unemployment willl be described as "unexpected" and "outliers". Short buisness weeks such as holidays in which unemployment claims are reduced due to the fact the offices are not open, shall be announced by the President and should be placed on page 1," Gibbs explained.

"And finally--- Believe us that unemployment is vanishing--NOT your lying eyes," Gibbs concluded in his disgruntled press confernce exit.

Posted by: ProCounsel | December 10, 2009 10:11 AM | Report abuse

Most of these commenters are suffering from political amnesia ... The recession began and was plummeting towards depression under Bush - he was the one who allowed Wall Street to "get drunk," who ignored the housing bubble, who racked up deficits like a spendthrift ... Obama has done a remarkable job in his 10 months to staunch the bleeding and start the economy's healing ...

Posted by: levantefc | December 10, 2009 10:21 AM | Report abuse

So the report from the White House a few days ago was a lie. It seems the administration is full of pathological liars. Change???? Yes for the worse.

Posted by: askgees | December 10, 2009 10:22 AM | Report abuse

The numbers will keep going up as long as the incompetent dumbas$ and his egghead advisors continue to borrow and spend.

These morons couldn't run a lemonade stand, and they are destroying the economy.

Ain't chage great for you class envy nitwits who elected this bum?

Posted by: LarryG62 | December 10, 2009 10:28 AM | Report abuse

the lion king

in the disney movie the lion king, the old wise monkey slaps the boy with a stick

the boy protests

the monkey slaps him again

the boy protests again

them monkey says "shut up---thats in the past"

team obama cooked the bools last week and this week is telling america to shut up--thats in the past.

Posted by: ProCounsel | December 10, 2009 10:40 AM | Report abuse

Is it the Democrat Depression or just the Obama Depression?

Posted by: Jerzy | December 10, 2009 10:46 AM | Report abuse

MMM MMM MM! Barack Hussein Obama.

Posted by: seraphina | December 10, 2009 10:47 AM | Report abuse

Interesting, do people believe that somehow 10 months into a Presidency Obama has to drag the nation from the brink of the Great Depression to the 90s Boom? Just 1 year ago all economic forecasts predict the worst economic storm in Modern History, and now we are asking why unemployment isn't going away? What kind of entitlement problems do you all have? It took 10 years for the US to dig out of the Great Depression, be happy we only need maybe 2-3 years

Posted by: logicaldoubtofhumansanity | December 10, 2009 10:56 AM | Report abuse

rexsolomon wrote

Having lived through a dictatorship, I know well enough how reports to the public (such as job numbers) are altered/doctored/massaged before the leader of the nation makes an announcement.

The title 'Jobs claims rise unexpectedly' is wrong. Obama needed fudged jobs numbers as he called for a jobs summit and outlined his plans to create jobs.

I'm sorry but politicians only know how to spend taxpayer money. Only entrepreneurs create value that is transformed into money. Obama is no entrepreneur.

Twisting the truth about jobs numbers is a very scary sign. I've been there. This should be cause for great concern and alarm.

Posted by: rexsolomon | December 10, 2009 9:03 AM

RESPONSE by ProCounsel:

Exactly--Obama no longer merely cooks the books

team obama now microwaves the books........

obama--fraud, deceit, and a whiny incompetence

Posted by: ProCounsel | December 10, 2009 10:58 AM | Report abuse

Maybe while President Obama is celebrating receiving an award for what he said as opposed to what he did, he can chew on the following info from the AP...

"The so-called continuing jobless claims figure doesn't include millions of people who have used up the regular 26 weeks of benefits typically provided by states and are receiving extended benefits for up to 73 additional weeks.

About 4.6 million people were receiving extended benefits in the week ended Nov. 21, the latest data available. That's an increase of about 130,000 from the previous week and is partly due to an extension of benefits that Congress enacted last month.

The economy grew at a 2.8 percent pace in the July-September quarter, and many analysts say it is likely growing at a similar pace in the current quarter. But that is much slower than the average 6 percent rate in previous economic recoveries."

As a result, most economists expect the unemployment rate to rise in coming months and remain above 9 percent through the end of next year.

Posted by: JHG_sec405 | December 10, 2009 10:59 AM | Report abuse

The initial $787B stimulus has failed or is in the process of failing.

Obama now wants to reinforce failure with a second stimulus.

Instead:

1. Suspend implementation of national health care.

2. Suspend implementation of Cap 'n Tax (Climategate anyone?).

3. Cut payroll taxes.

4. Cut business taxes especially to small business.

5. Get capital flowing ....LOANS!!!

6. Extend the Bush tax cuts especially on CAP GAINS!

7. Decrease timeframes for depreciation.

8. NO MORE GIVEAWAYS TO SOCIAL PROGRAMS. THEY STIMULATE NOTHING!

9. Ignore Paul Krugman. Whatever he suggests, do the opposite.


Posted by: furtdw | December 10, 2009 11:05 AM | Report abuse

New jobless claims rise more than expected to 474K

By CHRISTOPHER S. RUGABER, AP Economics Writer – 25 mins ago

WASHINGTON – The number of newly laid-off workers seeking jobless benefits rose more than expected last week, after falling for five straight weeks.

Initial claims for unemployment insurance rose by 17,000 to a seasonally adjusted 474,000, the Labor Department said Thursday. That was above analysts' expectations of 460,000 new claims.

Claims were partly inflated by a surge following the Thanksgiving holiday week, when many state unemployment offices are closed, a department analyst said. Seasonal layoffs in the construction industry also played a role.

Economists closely monitor initial claims, which are considered a gauge of the pace of layoffs and an indication of companies' willingness to hire new workers.

The four-week average of claims, which smooths fluctuations, fell to 473,750, the lowest level since September 2008. Still, claims will have to fall to about 325,000 for several weeks to signal the economy is actually adding jobs, according to many economists.

The number of people continuing to claim benefits fell by 303,000 to 5.16 million, the lowest level since February. The total unemployment benefit rolls have fallen in 11 of the past 12 weeks.

But the so-called continuing claims do not include millions of people that have used up the regular 26 weeks of benefits typically provided by states, and are receiving extended benefits for up to 73 additional weeks, paid for by the federal government.

About 4.6 million people were receiving extended benefits in the week ended Nov. 21, the latest data available. That's an increase of about 130,000 from the previous week, and is partly due to an extension of benefits that Congress enacted last month.

Posted by: Accuracy | December 10, 2009 11:07 AM | Report abuse

These numbers are only "unexpected" for those who bought into the cock-and-bull story last week about unemployment dropping. Unemployment didn't drop, and employers didn't add jobs. On the contrary, employers cut more jobs, just at a slightly lower rate, and the number of people newly hired did not offset losses.

Meanwhile, the Labor Department was able to fudge the unemployment rate and make it appear that the economic situation was improving by only counting those actively looking for work as unemployed. The 0.2 percent drop in the unemployment rate looked mighty good, but the reality was that none of these people had found jobs; they'd just given up looking for now.

But somehow the White House and media still touted economic victory, despite continued job losses. But let's do the math...there were 10,000 more jobs lost last month. Assuming this number is accurate, for last month, there would have been 10,000 more jobless benefits claims to match. And last week, apparently, even more jobs were lost as new jobless claims increased again.

The reality is simple. The US economy is still shedding jobs at an alarming rate, and the line from the White House about a recovery is purely political spin. The economy is still in a tailspin, and nobody knows how to right these job losses.

Posted by: blert | December 10, 2009 11:13 AM | Report abuse

obama doesn't understand or care that capitalism actually works and creates jobs

and stimulus 2.0 or even stimulus 20.1 will not work

because
the entire obama adminstration has been a nonstop relentless attack on capitalism
and has their strategy wrong

for example:

1. geithner the dumb, announces publicly before the cfr he is comfortable with the dollar being replaced by as the international reserve currency

brilliant--from our treasury secretary

just as foreign countries have concerns over the us manufactured housing bubble

2. so just when the dollar as the world reserve currency is in a precarious position obama engages in unprecednted deficit spending

3. obama ignores mounting unemployment to secure obamacare

4. cap and trade and copenhagen will drown the usa economically, if obamacare has not already

5. now obama is going to provide the congressional black caucus with a public jobs slush fund of $300 billion

what team obama fails to understand is they are haplessly making straight line projections from past economic data which is no longer relelvant due to a paradigm shift in:

1. the emergence of china and europe as economic rivals and the chinese actually embrace capitalism to create jobs

2.geithenrs surrender of the dollar as the reserve currency,

3.the loss of the usa moral infrastructure due to barney frank and fannie mae liars loans

4. the international perception that team obama and pelosi are shall we say "challenged" and unwilling and unable to make aby corrections--indeed they do not comprehend the need for corrections

obama and pelosi are MOCKED openly even by the polite british

and the chinese marvel

that the greatest capitalist country on earth

ever--in all time, all recorded history

is systematically committing economic suicide by obama socialism

Posted by: ProCounsel | December 10, 2009 11:15 AM | Report abuse

I cannot help but point out the irony in having a giant outsourcing agency (based in France) advertisement next to the section: "Economy Watch," that features an article discussing unemployment in the U.S.

Posted by: lifetimestudent402 | December 10, 2009 11:20 AM | Report abuse

" a surprise jump "

To whom?

Not to anyone who carefully reads and analyzes the following:

(1) restaurant traffic and sales - down over 24 straight months

(2) hotel rev per room - down over 24 straight months

(3) service sector production (70% of economy) - still down

(4) retail sales - still down

(5) architect billings - still down

So what pray tell makes you think that it is a 'surprise' that the number of new unemployment claims are back up? And keep in mind that last week's data was from Thanksgiving week - a 3 day week, not 5.

The only thing 'surprising' is the number of articles that invariably open with such stupid hyperbole as "surprising drop", surge upward (to descibe some less than .3% change to the positive...) and, the dumbest of all "beat expectations" (well yes, call it low enough and ANYTHING is likely to 'beat expectations'....

Here is an idea. Report the data the same wasy Calculated Risk does. No adjectives, no melodrama, no hyperbole.

This collapse began manifesting itself in the summer of 2007. Only a complete fool would think that things would suddenly improve in the past 8 -10 months.

Posted by: eabpmn | December 10, 2009 11:21 AM | Report abuse

Well, we could always vote in another Bush....how do you like that idea?

Posted by: swabygw | December 10, 2009 11:39 AM | Report abuse

I'm still struggling to find the link between government policies and private sector layoffs. Can someone do that for me?

Ohhh stupid me tax cuts that's what we need to generate jobs, it's the balm for every problem well except the soaring deficit.

Posted by: sargon20 | December 10, 2009 11:41 AM | Report abuse

SURPRISE?!? I think not...

Posted by: wcmillionairre | December 10, 2009 11:48 AM | Report abuse

Well, we could always vote in another Bush....how do you like that idea?

Posted by: swabygw | December 10, 2009 11:39 AM

---------------

Another Bush is all the Republican Party has to offer. Not a thing has changed for them since they lost all three branches of government. The same failed ideology still persists.

Posted by: sargon20 | December 10, 2009 11:52 AM | Report abuse

Or, we could elect Sarah Palin or another religious fundamentalist..... Republicans: if you wanna win, stop complaining and offer up some better ideas than just reducing taxes.

Posted by: swabygw | December 10, 2009 12:13 PM | Report abuse

Let me re-write the Headline: New Jobless Claims Predictably Rise

Do the people who write for this paper live in this economy or some sort of fictitious protected bubble?

THERE ARE NO JOBS OUT THERE TO BE HAD THAT SUPPORT THE COST OF LIVING.

I have worked my way through the past 4 or 5 recessions, over the past 30 years and this one is the worst.

Whoever was the genius who thought giving banks and other non-functioning financial institutions in our economic system the vast majority of available liquidity to sit on, needs their genius credentials re-examined.

Jobs and working people generate the tax revenues that keep the system operating.

Giving billions to Goldman and friends creates an inverted pyramid of dysfunction teetering towards a financial crash.

Can no one see this?

Posted by: cnezblvnaolcom | December 10, 2009 12:15 PM | Report abuse

Of course jobless claims have risen! It will get worse and everyone outside of Washington and New York knows it. Congress, in the mean time, has time to continue tax breaks to corporations that outsource jobs, continue giving money to banks that invest in new factories in China and India, continue tax breaks for investors that foist off Ponzi schemes, play pump and dump with the U.S. dollar in a new series of schemes to inflate the cost of basic commodities. That same Congress has time to hold hearings on White House dinner party crashers. But just forget doing something about jobs, about the outsourcing mess THEY created. This COngress, this White House, is completely out of touch with the American people. They are more interested in playing games with heir Wall Street friends, with corporate bosses, while people go hungry, loose their homes, loose their families. These scum sucking smug self serving swine don't even deserve to live in this country, much less be elected. REVENGE in 2010! Target 80 incumbent seats in the House and 9 Senate Seats. Democrats, Republican's, they are the same enemies of this country and it's people. The new war on terror is to be fought against our elected officials.

Posted by: mibrooks27 | December 10, 2009 12:20 PM | Report abuse


The initial $787B stimulus has failed or is in the process of failing.

Obama now wants to reinforce failure with a second stimulus.

Instead:

1. Suspend implementation of national health care.

2. Suspend implementation of Cap 'n Tax (Climategate anyone?).

3. Cut payroll taxes.

4. Cut business taxes especially to small business.

5. Get capital flowing ....LOANS!!!

6. Extend the Bush tax cuts especially on CAP GAINS!

7. Decrease timeframes for depreciation.

8. NO MORE GIVEAWAYS TO SOCIAL PROGRAMS. THEY STIMULATE NOTHING!

9. Ignore Paul Krugman. Whatever he suggests, do the opposite.


Posted by: furtdw

You people are unbelievable.

A. Wouldn't expanding the number of people receiving health care (you know, consuming a product) create more jobs for doctors and nurses?

B. For people who are such ardent capitalists, you have zero faith in the power of the market to innovate and create new solutions to our energy and environmental problems. You don't even want to try.

C. Cutting taxes presupposes that businesses and individuals will use that money to invest in new ventures and jobs... in the worst business climate since the Great Depression. Only a person with a fantastic business idea would get a loan right now, and even then lots of banks are unwilling to take the risk. Mostly on the reasoning that only an idiot would try to introduce a new, unproven product into an economy that's seen a 10% drop in consumer spending (you know, demand, the other half of the graph that you supply-siders talk about incessantly).

D. No more giveaways to social programs? Like school lunches, or health care? Yeah, businesses have no interest in hiring healthy educated people. They all want uneducated, malnourished sick people (sarcasm goes here).


How are there so many of you people in one place? It's kind of scary.

Posted by: mrsaun | December 10, 2009 12:38 PM | Report abuse

How any idiot other than Palin can believe that Obama caused the current economic situation is just beyond me. Maybe my expectations of Americans are to high; they did re-elect GW after all.

Posted by: streff | December 10, 2009 12:39 PM | Report abuse

streff - You don' know what you're talking about. In one of his first acts, in office, he bailed out 6 huge Wall Street banks, who turned around and laid off *all*, their entire U.S. It staffs, more than 50,000 U.S. computer programmers, database programmers, mathematician's. They, then, applied for and received, from your precious President, more than 50,000 "emergency" H1-B visas and hired more than 50,000 cheap Indian replacements for those American workers. Under your idiot President and those "friends of workers" Democratic swine, we have OUTSOURCED more than 3 million jobs in 10 lousy months. Of course it's Obama's fault! Are you really so blind, so stupid, that you cannot see that Obama's "Mutli-naionlism" is no different than Bush's "neo-conservativism"? The Administrations of the Clinton, Bush, and Obama have been one series of disasters after another, all of them create by these idiots, all of them created by them and the fools in Congress. Stop drinking kool aide and throw these bums under the bus! They DO NOT have our best interests at heart.

Posted by: mibrooks27 | December 10, 2009 1:01 PM | Report abuse

The #1 issue has and always will be JOBS. Rather than addressing this issue first, Big Banks, Greedy automakers, and Wall Street goons cut in the TARP welfare line and gobbled up the lions share of the resources. The Housing and Auto industries are still sinking ships. The answer is simple; people with jobs BUY houses and cars. People without jobs LOSE houses and cars (see: http://www.repofinder.com). If the President wants to keep his job, he better make sure we keep ours.

Posted by: MikeDudical | December 10, 2009 1:56 PM | Report abuse

I wonder if anyone with political connections (possibly someone who eats breakfast w/ the President) to the Obama Administration even takes note of and pass on any of these great comments to the President. If, in fact, these opportunities to post simply provide an avenue in which the citizens of this country can use to vent their frustrations, I don't see any real merit in the process. Why not organize a mass march on Washington, D.C. in regards to JOB CREATION and each of you and myself both Democratic, Republican, white and blue collar, can bring a printed version of our comments to leave at the gates of the White House. Now that's what I'd call a Hand-Delivered Package "To Be Opened By Addressee Only" (No need for FED EX). Individually we can post comments using this form of communicating, until our minds go numb. But collectively, just imagine the huge impact we could make together protesting on a common platform (JOBS NOW) – we’d become true movers and shakers, even those of us who are considered the least. In my opinion we all have become very similar to one another when the likes of a job, shelter, or any other material comfort is taken away or threatened to be taken at no fault of our own.

Posted by: cbaumgardner | December 10, 2009 3:04 PM | Report abuse

as the patient dies,

the rate of blood loss slows

Posted by: ProCounsel | December 10, 2009 6:18 PM | Report abuse

obama fraud.........

5 days ago in a wash po far, far away on decemeber 5, 2009---5 days ago- the wash po reported:

"Overall, this is the best jobs report we have seen since 2007, Obama said at Lehigh Carbon Community College in Pennsylvania. But, he added, "We've still got a long way to go. I consider one job lost one too many."

The Labor Department's jobs report surprised most financial analysts. Nonfarm payrolls fell by just 11,000, the report said, a sign that companies are beginning to hang on to workers. In October, 111,000 jobs vanished; recently, analysts had expected a much higher number of jobs had been lost in November -- as many as 130,000 or more.

"The numbers are a lot better than we expected," said David Wyss, chief economist of Standard & Poor's. "We're still looking at unemployment rates that are going to be highest since the postwar record in 1982, but this is encouraging . . . . Small negatives are better than big negatives. Flat is the new up."

"It seems the storm has passed," said Bill Cheney, chief economist of John Hancock Financial. "We still have plenty of cleaning up to do, but today's employment report for November is unambiguously good news and provides solid reason for hope as we enter 2010."

source: wash po december 5, 2009

http://www.washingtonpost.com/wp-dyn/content/article/2009/12/04/AR2009120400572.html?nav=rss_business

Posted by: ProCounsel | December 10, 2009 8:49 PM | Report abuse

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