Featured - Highlighted - Newsbite of the Day for 12/2/11

Unemployment in the U.S. unexpectedly dropped in November to a two-year low...

(*SNORT*) (KEEP READING!)

...while employers added fewer workers than projected...

(*JUST SHAKING MY HEAD AT THE ABSURDITY OF IT ALL*)

...and earnings eased...

* UH-HUH...

...indicating the labor market is making limited progress.

* FOLKS... HERE'S THE BOTTOM LINE ON THE "DECLINE" OF UNEMPLOYMENT:

The labor participation rate declined to 64% from 64.2%.

* GOT THAT, FOLKS...?!?! FEWER AMERICANS ARE WORKING... SO AS LABOR "PARTICIPATION" DECLINES SO DOES THE OFFICIAL UNEMPLOYMENT STAT.

(*SNICKER*)

The decrease in the jobless rate reflected a 278,000 gain in employment at the same time 315,000 Americans left the labor force.

* YEAH... MORE AMERICANS LEFT THE RANKS OF THE EMPLOYED THAN GAINED EMPLOYMENT! DOES THAT SOUND POSITIVE TO YOU...?!?!

Private hiring, which excludes government agencies, rose 140,000 after a revised gain of 117,000. It was projected to rise by 150,000, the survey showed.

(*BANGING MY HEAD AGAINST THE DESK*)

* FOLKS... EVEN WITH ADDING THE "REVISED GAIN"... (*JUST SHAKING MY HEAD*)... THEIR PROJECTIONS CAME UP 10,000 SHORT! AND YET... UNEMPLOYMENT IS SUPPOSEDLY "DOWN."

Average hourly earnings fell 0.1% to $23.18, today’s report showed.

(*SARCASTIC CLAP-CLAP-CLAP*)

The so-called underemployment rate - which includes part-time workers who’d prefer a full-time position and people who want work but have given up looking - decreased to 15.6% from 16.2%.

* FOLKS... SERIOUSLY... RE-READ FROM THE TOP OF THE NEWSBITE IF NECESSARY; A TRUE DECREASE IN THE UNDEREMPLOYMENT RATE JUST DOESN'T COMPUTE! EVERYTHING YOU'VE READ SO FAR TELLS YOU THAT LESS PEOPLE ARE WORKING! THE ONLY WAY THE UNDEREMPLOYMENT RATE COULD BE DOWN IS IF THE UNDEREMPLOYED HAVE SIMPLY GIVEN UP!

The report also showed an increase in long-term unemployed Americans. The number of people unemployed for 27 weeks or more increased as a percentage of all jobless, to 43% from 42.4%.

(*BANGING MY HEAD EVEN HARDER AGAINST THE DESK*)

* FOLKS... YOU'RE READING WHAT I'M READING... RIGHT...??? (*SNORT*) DOES THIS SOUND LIKE "UNEMPLOYMENT IS DOWN" TO YOU...???