Business

Morning Market Roundup: Chrysler Sales Up, Unemployment Numbers Down

Here’s what’s important in the financial world this morning:

EU: The sovereign debt problem in Europe gets more complex by the hour. The European Central Bank said it may intervene to buy paper issued by nations that are economically weak. This should drive down yields and give countries like Italy more time to show their seriousness about austerity. Angela Merkel of Germany said she wants aid of any kind, particularly if it involves German money, to come at a steep price to those that need it. Membership in the eurozone should involve a stronger union, and one in which nations should be held accountable for their budgets, she argued. Merkel also expressed pessimism about the region’s future, at least short term.

“Resolving the sovereign debt crisis is a process and this process will take years,” she said. She also said the eurozone should expect no help from the European Central Bank.

Chrysler: November car sales numbers were telling in several ways. SUV sales picked up. Perhaps Americans believe the drop in gas prices will be long-lived. If not, drivers with the large trucks face several years of expensive motoring.

Japanese car companies continued to lose ground, with the exception of Nissan. Toyota and Honda still have production disruption problems due to the March earthquake. November U.S. sales also showed the continued rising success of American car companies. All three posted substantial gains. The most impressive of them was Chrysler, which said units sold increased 45 percent over November of last year. The company sold more than 100,000 cars and light trucks last month. It may be a compelling victory for a company that went through Chapter 11 just three years ago. It is also a victory for Fiat, which now owns Chrysler.

Retail: Retail results for November and third-quarter earnings from some store chains were another indication that several companies are now permanently out of the race for profits and better revenue. Barnes & Noble posted poor quarterly results. Its store sales were weak and its investment in e-commerce expensive. The book company has battled Amazon.com for years, and it is more clear with each quarter that the fight is one it cannot win. Retailers such as Talbots, Gap and Kohl’s continued to get weaker. Their competitors have overwhelmed them in price, store configuration and location, and e-commerce efforts. Those are not advantages that can be overcome easily.

Google Chrome: Google’s Chrome browser passed Firefox as the second most used product in the business. It sits behind only Microsoft’s Internet Explorer. The gains could be critical to Google’s advances into businesses like social networking. The Google browser bar offers rapid access to its products, such as social network launch Google+. Microsoft loses chances to promote its products in the browser space as its share shrinks. The Chrome advance is another example of how Google has pushed into businesses beyond search. The most prominent of these is the Android mobile OS. Chrome, Google Maps, YouTube and Google’s image search product are all part of the largest search company’s success in diversification.

Unemployment: The Labor Department said Friday morning that the unemployment rate dropped sharply to 8.6 percent last month, down from 9 percent in October. The last time unemployment was that low was March 2009.

“Employers added 120,000 jobs last month,” reports the Associated Press. “And the previous two months were revised up to show that 72,000 more jobs added — the fourth straight month the government revised prior months higher.”

But here’s the catch: one of the reasons the number fell to 8.6 percent is because about 315,000 people decided to just stop looking for work and therefore the Labor Department doesn’t count them as “unemployed.”

So the 8.6 percent figure isn’t necessarily a good thing then, is it?

(24/7 Wall St./The Blaze)

Comments (29)

  • TruthBeSpoken
    Posted on December 3, 2011 at 10:03pm

    Awe…jeeze….
    First of all the EuropeeOn Central Bank may be leading you wayyy of the track of what may be really going on.
    Stating they will buy the fiat paper from economically weak countries to give them time to “Show their seriousness about austerity”….. MHO Time only delays the inevitable…
    Merkle does go on to speak truth stating “She wants aid of any kind, particulary if it involves German money, to come at a STEEP PRICE to those that need it”….
    Funny Merkle in the end of this statement says “The eurozone should expect NO help from the European Central Bank…

    I can see Soetoro salivating….. Perfect set up?$? He’s got to be thinking about it…..

    Glass-Steagall anyone? Although he may not want that exact system, he has to be in control… I’m sure he has ideas.
    Freaking scarey what could happen there….
    A credit system…..
    Implants possibly?
    Hmmm?
    Barter system :)

    Report Post » TruthBeSpoken  
  • Ron Staiger
    Posted on December 2, 2011 at 3:09pm

    Jobless claims were up also but not yet accounted for. Next month we will be at 9.1%

    Report Post »  
  • righthanddrive
    Posted on December 2, 2011 at 1:18pm

    “Unemployment down”. So why is Congress considering extending the payroll tax cuts and why is POTUS making all those funny noises for the extension?

    Report Post »  
  • beebacksoon
    Posted on December 2, 2011 at 12:57pm

    Okay, THANKSGIVING and CHRISTMAS always bring jobs – temporary jobs. That means the unemployment number will go UP in January.
    Google? I refuse to use Google for anything. (Same with Facebook (FB) since Goldman-Sachs “invested” in FB and now has marketing info gleaned from Facebook members; and the fact Robert Gibbs (ex press secretary for Obama) works for them.)
    And Chrysler sales going UP? Remember, they are Obama Motors, so his “accountants” can manipulate the figures. I don’t believe ANY figure coming from .gov.

    Report Post »  
  • jrcess
    Posted on December 2, 2011 at 12:48pm

    I own several trucks and have sold all the GM(government motors) trucks and have one more Dodge to go and at that point all will be Fords, same with the cars. The unemployment is a fraud, If they can keep this going for another couple of months, all of the people looking for a job will fall off and the numbers will come down.. Obama’s whole presidency is a fraud, Look at the number of crooks that have abandoned ship.

    Report Post »  
  • MaxineH20Sux
    Posted on December 2, 2011 at 12:35pm

    yep, and the govt will tell you ANYTHING you want to hear. The REAL unemployment is about 17%, they just are not using the same info to calculate the unemployment rates that they used years past. i had a family member who worked for a blue states Dept. of Labor and she was told to fudge numbers or she would lose her job 9 She was an accountant). The govt. plays with numbers and if you even believe the govt, you will believe anything. Gullible is all I can say about those people!

    Report Post » MaxineH20Sux  
  • 762x51
    Posted on December 2, 2011 at 12:31pm

    The unemployment numbers are a complete and total fraud of course. The criminal in chief is so desperate for SOMETHING to hag his size 3 hat on that lies are all he has. The Enemy of the United States has so destroyed the country that in three short years he has brought us to the point where the only way to show lower unemployment numbers is to stop counting. I wonder how much better off those no longer counted are than they were four years ago.

    My employer sold the company to a multinational and my job, along with a few hundred other American jobs, will be going “offshore” at the end of December. I wonder how long it takes before you are simply not counted? The criminal Obama does not care about people, he cares about ideology, and would rather see a Communist Utopia littered with corpses than free people earning their way to prosperity. He is a liar, a cheat and a thief and must be stopped.

    Report Post »  
    • Stoic one
      Posted on December 2, 2011 at 12:46pm

      You stop being counted when you are no longer receiving an unemployment check. Whether 99 weeks are up; you get a job; or the funding drys up. Yes the funding is also currently being “debated”.

      Report Post » Stoic one  
  • TELITLYKITIS
    Posted on December 2, 2011 at 12:17pm

    How many of these new jobs include the Occupy Trash being paid by Soros and the Unions ? And I dont believe anything, ANYTHING, these Washington Gangsters say ! Their nothing but a bunch of Lying, Progressive, Marxists !

    Report Post »  
  • PPMStudios
    Posted on December 2, 2011 at 11:50am

    The actual employment level increased by only 278,000. Needs to be around 600K per month.
    402,000 NEW people filed for unemployment.
    315,000 quit looking for jobs!

    Nice spin on the numbers……………………………

    Report Post » PPMStudios  
    • mils
      Posted on December 2, 2011 at 12:15pm

      there were a lot of jobs offered last month and htis month
      ….TEMPORARY CHRISTMAS JOBS!!
      My daughter got hired on last month and the job lasts until jan 7 2012..
      ..temporary.
      Come february…boom…down it goes again…

      Report Post »  
    • Loveyourneighbor
      Posted on December 2, 2011 at 12:16pm

      I agree, I wish I could trust the government, but everytime they do something I know there is a spin to it. It leave little hope for our country. Hard to fix something with the government fighting so hard to keep us in the dark.

      Report Post »  
    • mandemsmom
      Posted on December 2, 2011 at 1:26pm

      I love how we can’t count a person as unemployed unless they recieve unemployment benefits. My job dissapeared and as an independant contractor I was never eligible for UA. I am not counted. Neither is my husband. His job was outsourced to another country and he is making less than half now at his new job. I guess we can take heart that we are at least counted as one family living below poverty level…..

      I would love to know what the REAL unemployment numbers are!

      Report Post »  
  • RodT82721
    Posted on December 2, 2011 at 11:47am

    Good or bad was not the reason for the new number. Barry’s media needs a talking point! Now they can tells us how Barry’s stimulus really kicked in last month!
    8.6% unemployment, that has nothing to do with unemployment, but is the number that Barry needs to continue on with his “Jobs” plan campaign speech. Touring the country on the tax payers dime, to inform us of his magnificence!
    Don’t expect Barry’s media to mention they had to lower the number of jobs available to get their new number. This ‘unemployment’ number will continue on down until next November.

    Like the inflation numbers, it just matters what is used in the formula. Who needs fuel of food anyway???

    Report Post »  
    • TELITLYKITIS
      Posted on December 2, 2011 at 12:41pm

      Excellant point, I was thinking of putting it in my post then forgot to add it

      Report Post »  
  • Guitar Master
    Posted on December 2, 2011 at 11:02am

    zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
    From THE REPORTER
    zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

    Every pizza eating, sports fanatic, fast food junkie, couch potato slob will believe these numbers. These are the same morons that can’t wait for another fad show. With the huge majority of Americans in a sedated stupor, the government can put out figures such as the 8.6% unemployment rate and the zombies will believe it.

    Sad, so sad !

    Report Post »  
    • Uncurable wound
      Posted on December 2, 2011 at 11:17am

      Spot on,this is SUREAL!
      The ENEMY IS IN OUR MIDST…

      Report Post »  
    • marvlus
      Posted on December 2, 2011 at 11:28am

      Perhaps sad for now, but remember – the truth has no agenda.

      Report Post »  
  • IMPEACHBHO
    Posted on December 2, 2011 at 10:51am

    This numbers are garbage. Holiday spikes and people running out of unemployment benefits (no longer counted) or have given up (no longer counted), etc, etc. The propaganda must stop.
    Love the ending on this one…
    http://www.youtube.com/watch?v=7kqVZUCRth0

    Report Post » IMPEACHBHO  
  • Endurance997
    Posted on December 2, 2011 at 10:44am

    Unemployment 8.6%… Wait for the holidays to be over with… Then you will see unemployment spike over 9.1% after retail and other companies let’s their holiday help go!!!

    Report Post »  
    • Gonzo
      Posted on December 2, 2011 at 11:02am

      Exactly, you can’t sell Christmas trees year round and I bet there are a lot of guys with MBAs selling Christmas trees this year.

      Report Post » Gonzo  
  • Snowleopard {gallery of cat folks}
    Posted on December 2, 2011 at 10:44am

    Oh notice how the farce of the administration continues while the world burns down around all of our ears and bodies…

    Unemployment being down is due to Christmas hiring NOT due to Mr Obama.

    SUV sales going up for people planning to flee the cities, or those who figure all is lost so they must have a ‘dream toy’ right now for the future will not matter.

    Businesses no longer seeking a profit — obvious, under the hostilities of the admin and the unions to force everyone to bow to the government, the businesses seek to SURVIVE.

    Merry Christmas everyone and for Mr Obama I offer this gift –

    I am TEA
    I am 53′
    I am ME
    I am Mr Obama’s worst nightmare.
    2012 FREEDOM!!!

    Report Post » Snowleopard {gallery of cat folks}  
  • AxelPhantom
    Posted on December 2, 2011 at 10:43am

    Europe needs to figure out who they are. They have this “Union” which is without mechanism for individual accountability within the countries which are still considered sovereign nations.

    It is similar to their experiment of “socialistic-capitalism”. They (as are we these days) are always trying to mix two things that are diametrically opposed. You have to pick one, otherwise you will always having to come back and shake up the bottle to agitate the oil and water so it will temporarily mix.

    Report Post »  
  • dsm
    Posted on December 2, 2011 at 10:37am

    It is obvious to anyone with half a brain that 9% unemployment can’t fall to 8.6% with adding only 120,000 jobs. But of course, the administration will be jumping for joy and the media will reporting how wonderful this administration is.

    Report Post »  
    • Locked
      Posted on December 2, 2011 at 10:41am

      “It is obvious to anyone with half a brain that 9% unemployment can’t fall to 8.6% with adding only 120,000 jobs.”

      Good thing that wasn’t all that was said, huh?

      “…about 315,000 people decided to just stop looking for work and therefore the Labor Department doesn’t count them as “unemployed.””

      Report Post »  
  • Locked
    Posted on December 2, 2011 at 10:36am

    “But here’s the catch: one of the reasons the number fell to 8.6 percent is because about 315,000 people decided to just stop looking for work and therefore the Labor Department doesn’t count them as “unemployed.”

    So the 8.6 percent figure isn’t necessarily a good thing then, is it?”

    It makes me curious what they’re doing now. You can‘t receive unemployment benefits unless you’re looking for employment. So if they’re not, what are they doing… going back to colleges and trade schools? Piling up more debt? Somehow I’m not thrilled.

    Report Post »  
  • Gonzo
    Posted on December 2, 2011 at 10:30am

    That Barry, he’s doing a heck of a job. Happy days are here again.

    Report Post » Gonzo  

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