Reply #37: It is clear the job losses have stemmed

[taught_me_patience]

but this 11,000 jobs lost is pretty bullshit. You gotta look deeperYesterday's ADP number was minus 150k and initial claims have been running at 475k average for the month. Something seriously is not connecting here. Also, the drop in unemployment was because about 860k dropped out of the labor force. They've been unemployed so long that they just gave up looking for work.

Read the release here:

http://www.bls.gov/news.release/empsit.nr0.htm

About 2.3 million persons were marginally attached to the labor force in
November, an increase of 376,000 from a year earlier. (The data are not sea-
sonally adjusted.) These individuals were not in the labor force, wanted and
were available for work, and had looked for a job sometime in the prior 12
months. They were not counted as unemployed because they had not searched
for work in the 4 weeks preceding the survey. (See table A-13.)

Among the marginally attached, there were 861,000 discouraged workers in
November, up from 608,000 a year earlier. (The data are not seasonally ad-
justed.) Discouraged workers are persons not currently looking for work be-
cause they believe no jobs are available for them. The remaining 1.5 mil-
lion persons marginally attached to the labor force had not searched for
work in the 4 weeks preceding the survey for reasons such as school attend-
ance or family responsibilities.