Posted by Austan Goolsbee on December 3, 2010 at 9:36 AM EST
Chairman of the Council of Economic Advisers
Today’s employment report shows that private sector payrolls increased by 50,000 in November, lower than expectations, but continuing eleven consecutive months of private sector job growth. The pace was not enough to prevent the unemployment rate from climbing to 9.8 percent.
While the overall trend of economic data over the past two months has been encouraging, today’s numbers underscore the importance of extending expiring tax cuts for the middle class and unemployment insurance for those Americans who have lost their jobs.
Failure to do this would jeopardize hundreds of thousands of additional jobs, and leave millions of Americans, who are out of work through no fault of their own, on their own.
In addition to the increase in November, the estimates of private sector job growth for September (now 112,000) and October (now 160,000) were revised up. Since last December, the economy has added 1.2 million private sector jobs. So far this quarter, including today’s revisions, private sector employers have added an average of 105,000 jobs per month.
Rightardia is a big fan of Austan Goolsbee. We frequently run videos of him from the Stephan Colbert Report. He has also produced some wonderful economic whiteboards. We would like to see more of these whiteboards on the WH blog.
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Chairman of the Council of Economic Advisers
Austan Goolsbee
Today’s employment report shows that private sector payrolls increased by 50,000 in November, lower than expectations, but continuing eleven consecutive months of private sector job growth. The pace was not enough to prevent the unemployment rate from climbing to 9.8 percent.
While the overall trend of economic data over the past two months has been encouraging, today’s numbers underscore the importance of extending expiring tax cuts for the middle class and unemployment insurance for those Americans who have lost their jobs.
Failure to do this would jeopardize hundreds of thousands of additional jobs, and leave millions of Americans, who are out of work through no fault of their own, on their own.
In addition to the increase in November, the estimates of private sector job growth for September (now 112,000) and October (now 160,000) were revised up. Since last December, the economy has added 1.2 million private sector jobs. So far this quarter, including today’s revisions, private sector employers have added an average of 105,000 jobs per month.
Rightardia is a big fan of Austan Goolsbee. We frequently run videos of him from the Stephan Colbert Report. He has also produced some wonderful economic whiteboards. We would like to see more of these whiteboards on the WH blog.
Subscribe to the Rightardia feed: http://feeds.feedburner.com/blogspot/UFPYA
Netcraft rank: 7853 http://toolbar.netcraft.com/site_report?url=http://rightardia.blogspot.com
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