Pelosi Statement on November Jobs Report ("21st consecutive month of private sector job growth")

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Pelosi Statement on November Jobs Report

Washington, D.C. – Democratic Leader Nancy Pelosi released the following statement today after the Department of Labor reported that the economy gained 120,000 jobs in November and the unemployment rate fell to 8.6 percent – the lowest rate since 2009. With private businesses adding 140,000 new employees, this marks the 21st consecutive month of private sector job growth:

"Today's jobs report sends a clear message: we've made some progress but we have work to do.

"The American people's top priority remains job creation. Democrats want to put more money in the pockets of all Americans and strengthen small businesses by expanding the payroll tax cut. Republicans put the economic security of 160 million Americans at risk by insisting on tax cuts for people making more than a million dollars per year and job cuts for the middle class.

"More than 330 days into this Congress, the Republican majority has failed to put forward a clear, comprehensive jobs plan. Democrats are committed to creating jobs and bolstering our middle class – building ladders of opportunity and reigniting the American dream. Americans can’t wait."

Calculated Risk: Employment Summary, Part Time Workers, and Unemployed over 26 Weeks

This was another weak report, and the headline number was slightly below consensus forecasts. However there were some positives too: the unemployment rate declined to 8.6% and the payroll employment was revised up for September and October.

There were only 120,000 jobs added in November. There were 140,000 private sector jobs added, and 20,000 government jobs lost.

The change in total employment was revised up for September and October. "The change in total nonfarm payroll employment for September was revised from +158,000 to +210,000, and the change for October was revised from +80,000 to +100,000."

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Through the first ten months of 2011, the economy has added 1.448 million total non-farm jobs or just 131 thousand per month. This is a better pace of payroll job creation than last year, but the economy still has 6.2 million fewer payroll jobs than at the beginning of the 2007 recession. The economy has added 1.711 million private sector jobs this year, or about 156 thousand per month.

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(emphasis added)

Imagine how much better the situation would be if Republicans weren't deliberately http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=433&topic_id=811112&mesg_id=811112">sabotaging the recovery