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Job Numbers Friday: Unemployment Rises to 9.8%

By: Ben Domenech (Diary)  |  December 3rd, 2010 at 10:28 AM  | 

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On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Francis Cianfrocca to discuss the latest jobs numbers, which put unemployment at 9.8%, and how plans by Obama’s deficit reduction committee may impact small businesses.

We’re brought to you as always by BigGovernment and Stephen Clouse and Associates. If you’d like to email us, you can do so at coffee[at]newledger.com. We hope you enjoy the show.

Related Links:

Jobs Up 39,000, Well Below Hopes as Rate Hits 9.8%
Commission’s final deficit report preserves controversial spending cuts; panel to vote Friday on whether to endorse plan
Report of the National Commission on Fiscal Responsibility and Reform
Hotline Whip Count: Deficit Commission Looks Dead

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COMMENTS

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  • Gmac

    All together now!

    “Unexpectedly”

    Just like the previous months this year it’s happened.

  • johnt

    The tooth fairy exists !
    Yep, “it’s all about jobs, jobs, jobs”. You all realize that it’s news like this that’s driving liberals{ ?} into deeper paroxysms of uncontrollable rage, which naturally makes all the rest of us racists. That follows doesn’t it?
    Save for the election it could have been worse, remember the babble about the viability of a VAT? God, how the cannibals wanted that.

  • izoneguy

    Unemployment “officially” will hit 12%-14% with-in a few months.
    Unoffically it will be more like 25%.

    The stock market will tank and then let’s see what a Republican house will do. As long as the Marxist in Chief is around the out look for future economic growth is dim.

  • Stinger808

    “Expect the unexpected!”

  • chbroussard

    Thelma and Louise. 9.8% unemployment (lower than the actual number), no tax relief, expense of healthcare requirements on business, etc., etc. Hold on. We’re just about to reach that cliff.

  • victrola

    No president in the modern era has ever been reelected with an unemployment rate of over 7.5%. Even if the economy makes a “V” shaped recovery, unemployment will most likely be well above 8% by the time 2012 rolls around. (I’m beginning to think it will still be above 9%)

    I don’t want to get cocky, but unless Republicans nominate a train wreck for our nominee (I won’t mention any names) I think Obama is toast.

  • Common_Cents

    How can that possibly be? Are they so bad at calculating or is it manufactured bias?

    The market isn’t stupid. They just now assume that every number will be revised worse in a week or so after the headlines come and go.

    Instead of really trying to improve anything in the underlying numbers, the deceiving political idiots just change the way the numbers are calc’d to get the outcome they want.

    • skorrent1

      If the Oct number had been reported as 9.8 or even 9.7 the GOP would have a dozen more house seats and likely 2 or 3 more in the senate and hundreds more in the states. Next month Oct will be revised up to at least 9.7.

      • Common_Cents

        How does this all time high food stamp number reconcile with the unemployment number. I bet one could take the historical ratio and apply it here to get a gauge of the real unemployment rate.

  • johnt

    you could bet your life on it. And lunatics and morons will believe it with a passion.