Breaking: Hiring in November 2010 Well Below Federal Estimates as Unemployment Rises

The latest hiring reports show once again the federal government is overly optimistic in the economy. They predicted over 80,000 jobs were going to be added to the economy. The truth is only 39,000 jobs were created in November, and unemployment started to rise again.

I wonder how much of this is because of the uneasiness over taxes come January 1, 2011, when the Bush tax cuts expire.

The fed says the official unemployment rate is 9.8%, a seven-month high, but everyone knows that number is cooked as well, and the number is actually higher.