Nov. UE numbers just came out and it looks like we are "unexpectedly" back up over 8%.
To be fair (or generous, IMO), the article states:
It is unclear what caused the increase in the unemployment rate in November, although some experts speculate that it was caused by jobs lost as a result of superstorm Sandy. It is also possible that lackluster holiday hiring is to blame.
The article also states that the underemployment rate is 17.2%, up from 15.9% in October.
Usually the trend this time of year is for unemployment to go down a notch due to temporary seasonal hiring, however that didn't happen this year. I can see how the storm may have made an impact, but do you feel that this is a glimpse into what is coming or do you think that this is just fallout from the storm and that things will return to our new normal after the new year? Do you expect the economy to come roaring back and if so, what do you think needs to happen first to make it possible?
*please note that I don't know what the conditions in the worst hit areas from Sandy.
Answer by okmanders at 1:02 AM on Dec. 7, 2012
Answer by booklover545 at 6:30 PM on Dec. 7, 2012