This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

5 trends beneath the surface in Nov. jobs report


The unemployment rate is just 4.9 percent for Americans older than 65, compared with 7 percent for adults as a whole. Dating to November 2012, the number of senior citizens who either have a job or are looking for one has grown by nearly half a million to 7 million.

In some cases, they kept working after they reached retirement age because their nest egg vanished during the financial crisis. There's another factor, too: Social Security. To receive full Social Security benefits, Americans now have to wait until age 66, instead of 65.


Restaurants and hotels created nearly 16 percent of the jobs added over the past 12 months. Those industries are known for paying low wages to their fry cooks and cleaning staff. Fast food chains like McDonald's have been at the epicenter of a battle over low wages, with employees around the country last week staging walkouts.

Restaurants and hotels added 361,000 workers this year. And basic economic theory says greater demand for workers usually leads to higher pay.

So how much did restaurants and hotels have to raise pay to attract people in November? Just 15 cents an hour to $11.80. Based on the average number of hours the industry's employees work each week, that wage is roughly at the poverty line for a parent and child. And since September, leisure industry wages have actually dipped 3 cents an hour.


Even as the number of unemployed Americans has fallen nearly 350,000 in the past two months, the ranks of the long-term unemployed have barely budged. They number about 4.1 million. And they're not catching many breaks. Companies are shying away from hiring workers with extended gaps in their resumes.

More than 37 percent of unemployed Americans in November have been out of work for half a year or more, a higher proportion than in October. If most of these Americans continue to be viewed as unemployable, that trend will hold back the economy's growth.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,812.39 +0.20 0.00%
S&P 500 2,089.72 +0.58 0.03%
NASDAQ 5,107.0320 +4.2240 0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs