Friday, December 03, 2010


It's the most wonderful time of the year? Definitely not for the unemployed as today's job report shows. Only 39,000 jobs were created in November and there are now 5 unemployed persons for every 1 job. If there is any more evidence needed for passage of an Unemployment Extension bill, here it is. It's also a good time to add a caveat to any part of a Bush Era Tax Cut extension: index the tax cut to jobs created. Those who don't need the break, won't get it and those who create jobs will. Meanwhile, the middle class will get the break and their spending will help boost the economy. So simple that even John Barasso can grasp the concept (or can he?).

Here's more on today's numbers:

1. Unemployment rate hits 9.8%. [The New Yorker]
2. Jobs up 39,000, well below hopes as rate hits 9.8%. [Reuters with CNBC]
3. Unemployment figures: Worse than they appear . [PBS NewsHour]

4. Unemployment jumps, job creation slows. Is economic stall-out here? [The Christian Science Monitor]
5. Jobs report shows this is no recovery. [The Seattle Times]
6. Boehner On 9.8% Unemployment: Democratic Leaders should stop wasting time on tax hike votes. [GOP Leader]
7. November jobs report: Obama finds one bright spot in dismal report - private sector added jobs. [New York Daily News]

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