Economic Statistics for 7 Dec 12
The following US economic statistics were announced today:
The Monster Employment index rose 2 points to 158 in November.
The Reuter’s/University of Michigan’s consumer sentiment index a very steep 8.2 points to 74.5.
Nonfarm payroll employment in November increased by a lackluster 146,000 new jobs. Average hourly earnings increased by 0.2%. The average workweek was unchanged at 34.4 hours. Turning to the household survey, the unemployment rate fell to 7.7%, as 350,000 workers left the labor force, bringing the labor force participation rate back down to 63.6. At the historical rate of labor participation, the unemployment rate would actually have jumped by 0.2% to 11.4%. In all, the labor market remains moribund, as job creation remains weak and labor force participation remains at historic lows.
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Dale Franks
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Hi. This is off topic, but I don’t know where else to ask. Is there a Neolibertarian forum out there somewhere? Looking for some better back and forth than just a comments section….
I knew this guy who worked as a contractor for the Social Security Administration back in the 80′s.
He told me that at the end of the year, it they can get their books to close within a few hundred million dollars that they think they are doing just great.
But the better story was about how they would go out to find out what happens when checks aren’t cashed. In one case, they sought out the man and found him at a trailer camp. They knocked on his door and introduced themselves. After talking a bit they asked him if he had received SSA checks for the last ten years and he replied “yes.” The asked why he didn’t cash them, he replied that he had “gotten back as much as he had put into the the system and stopped.” Then then said ” no, no,no, you can cash them .. they are yours,” he replied “no, he had gotten back what he put in.” They then asked what had happened to the checks, he opened a drawer and there they were. They asked why he kept them then, he replied that he figured eventually that “the SSA would figure it out and come for them.”