In a surprising setback, the nation's unemployment rate climbed to 9.8 percent in November, a seven-month high, as hiring slowed across the economy.

This is a reminder that the economic recovery is proceeding slower than many economists had expected. It is likely to push lawmakers before year's end to pass an extension of long-term unemployment benefits, which expired last week.

Employers added a net total of only 39,000 jobs last month, a sharp decline from the 172,000 created in October, the Labor Department said Friday. The weakness was widespread. Retailers, factories, construction companies, financial firms and the government all cut jobs.

Of course the disappointing figures caught economists off guard which once again makes you wonder just how good they are at their job.  They had predicted the addition of 150,000 jobs, based on reports that showed busier factories, rising auto sales and a good start to the holiday shopping season in November. Yet all that failed to translate into mass hiring.

Private companies -- the backbone of the economy -- created only 50,000 jobs. That was down significantly from the 160,000 private-sector jobs created in October and was the smallest gain since January.

With hiring so weak, the unemployment rate rose from 9.6 percent to 9.8 percent. The jobless rate has now topped 9 percent for 19 straight months, the longest stretch on record. The rate could hit 10 percent next year.

Adding those unemployed people to others who are working part time but would prefer full-time jobs and those who have given up looking for work, 17 percent of the labor force is "underemployed." That was the same as October. Still, the figure remains close to a record high set last year.

Another grim figure: There was a record 1.3 million "discouraged" workers in November. Those are persons not currently looking for work because they believe no jobs are available to them.

The economy needs to add at least 120,000 jobs to prevent the unemployment rate from rising. To reduce the unemployment rate significantly, monthly job creation has to be a lot stronger -- up to 300,000 new jobs a month.

Economists say it could take until near the end of this decade to drop the unemployment rate to a more normal 6 percent.



The American Economy

William P. Frasca


The American economy is in shambles. We are experiencing a constant form of monetary and product producing regression, Public and private, which are leaving a negative legacy, not only our President Barack Hussein Obama, “The Chosen One’, but also to the whole capitalist system. Spearheaded by the unscrupulous tax and spend, Socialistic ideologies inflicted upon ourselves, our businesses (big and small) by the soon to be replaced and not fast enough, Speaker Nancy Pelosi, The Incompetent One” and the unfortunately remaining Senate President Harry “The Houdini” Reid, better known as the “The Incoherent One”.


They accomplished this Marxist negative feat in less than (2) two years of their dictatorial rule, of running our precious Country into the ground, with failed Marxist procedures, policies and political appointments. America was unacceptably subjected to an unchained totalitarian rule that praised, and worshiped not only the shameful, reprehensible symbol of the “Hammer and Sickle”, but also welcomed an endorsed strategy of increasing a population who owe their survival to the Federal Government, becoming “Wards of the State”.


These illogical principles enacted hastily, ignorantly, and irresponsibly, of ignoring the wishes of the people, the unemployed, stymieing businesses, spending like drunken sailors, on empty programs, full of corruption has created our own home grown “Enemies of the State”. These intentional vain mishaps unconscionably increased our debt which rendered our dollar virtually useless on our own soil and throughout the world.


The banking and private corporation bailouts proved to be a “Benedict Arnold” in disguise, with Fannie Mae and Freddie Mac still blood sucking our Treasury dry. The American people or should I say the taxpayers that were legally mugged, and forcibly confiscated of their compulsory monetary donations through “Taxation without Representation” by the Federal (Ali Baba) and the political thieves that gave it to these institutions, without any consequences for their greedy unprofessional actions.


They in turn administered tremendous bonuses to their hand picked executives, and refuse to offer or approve any loans or mortgages, which is compounding our situation. This debacle and a Government hostile to business that has the audacity to impose high corporate taxes, punishes the achievers and risk takers, places forced unreasonable regulations and policies, ignoring the small entrepreneur, offering little or no incentives, and turning their backs on the real estate market contributed to a depleting stalemated economy.


Some fiscal analysts might stress different theories on how this is only a temporary setback and our Nation, including personal wealth will eventually turn around, or some might even go out on a limb and state that our recession is over. Let’s put it this way, an individual doesn’t need a Degree in Economics or become a Certified Public Accountant to realize times are bad. The average American just has to look out their window and see an overwhelming increase of unemployed neighbors, homes displaying “For Sale or For Rent Signs”, foreclosures, empty bankrupt factories, closed small businesses and stores, with the rising cost of gas, heat and electricity, including all the bare necessities, such as food and clothing.


This is showing signs of a disastrous financial situation of combining a recession, with the possibility of runaway inflation that might also add additional printing and circulating of more worthless currency into our structure, which will negatively swell our financial system into an expanded balloon ready to burst. Remember Jimmy Carter’s failed policies; well they seem to be resurrecting to the extreme maximum.


Another albatross is quite obvious; we are no longer the worlds leading producer of manufactured goods. It is a sad day in America , when most of what we purchase as consumers are products produced cheaply from other countries.


If we read the labels on all our processions, the average American would wake up to the fact that most, if not all were made outside the United States . Made in America is a dying extinct species. This honored symbol, which was respected and admired by all, stood for a proud sign of quality, which reflected our unmatched Yankee ingenuity. Presently, unfortunately this is not the case.


Regrettably, all these products manufactured in other Countries can be easily produced here, without compromising health, safety and product excellence. A good percentage of our own American corporations have developed facilities in these third world locations. Which are producing a less expensive product, with favorable corporate friendly policies and regulations? Their profits, which actually measure their success, are increasing considerably, even with them paying high tariffs.


This is simple economics 101 for idiots. If there are no products manufactured, then there are no jobs, and if there are no jobs or opportunities then I’ll be forced to sell apples on the street corner and you couldn’t afford to buy them. This obviously is the slow death of Capitalism, having a hangman’s noose around its neck, held by the Progressive. They have created a society totally dependent upon the Government for survival. There’s one problem to their self proclaimed ingenious plan. If they keep us on this path of financial ruination, then there will be no one left, to pay the freight?


They even go as far as outsourcing Customer Service. Did you ever call a company to explain or correct an error to your account, or product purchased that malfunctioned and discovered that you are speaking to an individual from India , South America or the Philippines ?  Not to mention all the illegal aliens, invading our shores. What have we become?


The biggest shame, mortification and embarrassment is discovering that our own State or local municipalities are further adding insult to injury, with them purchasing a combination of equipment not produced in our own Country, again paid with our tax dollars.


Things are so bad that we must hope and pray for immediate quick fixes, just to keep our financial heads above water such as Black Friday and Cyber Monday during the start of the Christmas season. Where’s our determination to succeed? Where is our drive to be on top?  Where are the jobs?


It seems as though they hit a brick wall, which brings us back to our President Barack Hussein Obama, “The Chosen One” soon fired House Speaker Nancy Pelosi, The Incompetent One” and Senate President, Harry Reid “The Incoherent One”, together with all the Progressives and Socialist Marxist Liberal Democrats., who seem to deliberately sabotage our life, liberty and the pursuit of happiness.


Their philosophy is to have the populous depend on the Government; crush their aspirations, confidences and dreams, making them totally dependent, keeping them under their thumb, just to stay in power. What a disgrace to see a free America produce such inept bigots, of social dignity, by using the Machiavelli principle of staying in power, by using any and all possible means, even if it sacrifices and destroys our America values, beliefs, ideologies and our precious Constitution.