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Jobless Rate Jumps (altogether now) ‘Unexpectedly’

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By Doug Powers  •  December 3, 2010 11:25 AM

**Written by Doug Powers

These guys must be shocked every morning when the sun rises in the east. How many times does this have to happen before it’s not unexpected?

WASHINGTON (Reuters) ā€“ Employment barely grew in November and the jobless rate unexpectedly hit a seven-month high, hardening views the Federal Reserve would stick to its $600 billion plan to shore up the fragile recovery.

Nonfarm payrolls rose 39,000, with private hiring gaining only 50,000, a Labor Department said on Friday. However, data for September and October was revised to show 38,000 more jobs were gained in those months than previously estimated.

According to White House logic (now there’s something “unexpected”), more people on unemployment means fewer people will lose their jobs (huh?), so what’s the problem?

More from Reuters:

Unemployment is expected to remain painfully high for years, a problem for President Barack Obama, who would face re-election in 2012.

But not so painfully high that the media won’t use the word “unexpected” in the next story about a dismal jobs report.

Meanwhile, Alan Grayson, who continues to be more irritating than ocular herpes in spite of being thumped in last month’s election, blames the poor economy on right-wing talkers. Grayson believes that the reason jobs aren’t being created is because Glenn Beck and Rush Limbaugh aren’t paying enough taxes.

Update: Nancy Pelosi explains her hilarious economic theory for how unemployment benefits create jobs — I call it the “Laugher Curve”:

“Unemployment insurance, the economists tell us, return $2 for every $1 that is put out there for unemployment insurance,” Speaker Nancy Pelosi said on the House floor.

Uh huh… the same economists who say “unexpectedly” every time a new jobs report goes against their growth predictions for months and months on end?

**Written by Doug Powers

Twitter @ThePowersThatBe

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Categories: Enviro-nitwits, fiscal stimulus, Politics