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Unemployment Rate Drops To 8.6 Percent

December 2, 2011 5:46 PM
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MINNEAPOLIS (WCCO) — With the unemployment rate falling from 9 percent to 8.6 percent, the good news has many people wondering if things are finally looking up.

It seems there have been a lot of good news recently. Earlier this month, we heard Minnesota’s unemployment rate fell 0.5 percent to 6.4 percent. The Dow also showed a weekly gain.

Americans are spending more and it’s all helping consumer confidence.

Watch Rachel Slavik’s report above for more.

View Comments
  • Journeyone

    Unemployment rate means the same today as it has for the past 30 years. There are not as many people collecting unemployment as they do not qualify or it ran out.. It does mean that magically everyone got a job. However you will NEVER find ANY news source report it that way. Sad.

  • Jason

    Real unempolyment is much higher. 16-18%

  • Kevin

    This is total liberal bs….this does not count the hundred of thousands who have stopped looking for work…..

    • stubby

      In this report from the government it was 340,000 that did not get counted. That is why the markets didn’t react and why obama wasn’t on every news show. Everybody knows.

    • But of course!!

      Yeah this sort of number noodling NEVER happened under the Bush Administration. Or under ANY Republican Administration.

      It’s ALWAYS those dang libruls, those scoundrels!!

      Why do they hate America?

      • WiseGuy

        Sigh!! More of the same old same hoo ha from the righties. The liberals did this. The liberals did that.

        And they wonder why we laugh at ‘em.

  • Jake

    If you believe that these new numbers resemble the actual truth, I have a condo in Baghdad to sell you.

  • Redneck Purist

    Wow, a lot of people gave up looking for work last month. Obama calls that good news.

  • Bruce

    I still can’t find a job…sighs.

  • Ordinary Guy

    You buy abroad, you’re employing abroad. Buy low there, where the population can’t afford to, and sell high here. Even if we worked cheaper to match, we couldn’t stop the drain of jobs, because with no consumer economy here, there’s no one to buy and Wall Street would fail.

    Unless the initiative is taken to spread the burden of social spending here between our products on the shelf and theirs, the spiral must continue downward. Tell your congress to do so now.

    • Don’t tell me

      I can’t shop at Walmart.

      Or Target.

  • It’s about time

    God Bless president Obama…The repug’s can’t hold off this trend forever…shuting down mortgage spending…shutting off Government spending….cutting off unemployment spending…everyone knows that the only way out of the great depression was gov spending because private sector spending was shut down.

    • muike

      First off, I’m no economist, but when are people going to understand that government collects our money (private and public taxpayers) and puts it in a big bucket. For years now in order to keep unemployment down so everything looks good, the government would create more public employment and pay for that employment with our tax dollars. Well it looks like things are starting to catch up with this approach.When we get paid part of what we earn goes back into the big bucket to pay for these extra public jobs. The problem is that the government worker takes out more than he/she puts in and the private sector is getting less and less so there is less going into the big bucket from them. Until we the government changes the rules in business to allow new business to start (real business) this is going to continue until the big bucket is empty. The way out is simple , but the people we put on charge either can’t see it or they don’t care, because they have their future secure. Mike

      • Ordinary Guy

        Why on earth are you griping about them, when you just sent all of your earnings to China and India and the like. For heaven’s sake, your big bucket’s got one helluva leak!

        • mike

          To ordinary guy.I’m pretty ordinary too.
          Did you read what I wrote? I wrote unless the government changes the rules in business so that new business can start, the damm bucket is going to get empty. You’re right about the problem being in part sending our earnings to China. Why do you think that’s happening?

          • Ordinary Guy

            At least on that we can agree, but look, those foreign workers earn about an eighth of what an American does and that depresses their domestic markets to a point where their prices attract our buyers that realize that they can ship product around the world and across our country too, and without paying nearly a dime to our treasury. Your boss has to pay income, payroll, your share of property tax, license, and fulfill obligations of safety and the environment, all for things the citizens have approved of, they do just the opposite in those countries. We encourage it, no we demand it, by our policy. That’s the heart of the problem. We handicap ours and subsidize theirs. That just has to stop, and I mean now.

    • Ordinary Guy

      I hate to mention it, because I agree with your point, but Roosevelt never got out of the Depression. He and Truman had to help kill off a generation of men and destroy the competing world’s economy to end the war and it. That’s not a bragging point.

  • Scott Mousel

    For what good reason should I ever watch WCCO news, when you report that unemployment fell and you failed to report that the jobless rate actually rose, with the black jobless rate over 20% ? This is a gross manipulation of the facts.

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