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Suddenly, a Sharp Deterioration in the Job Market
ZeroHedge ^ | 2/18/12 | Wolf Richter

Posted on 02/19/2012 4:58:37 PM PST by Kartographer

Over the years, the Philly Fed employment index has shown a strong correlation with the BLS jobs report, and Ablin estimated that based on it, only 50,000 new jobs were created, a far cry from the 243,000 in January—fictual or not. This and the nasty mid-month unemployment number from Gallup revive an odd idea: has the ECRI’s much ridiculed recession call been right all along?

Unless the BLS can figure out how to statistically adjust its next set of data and estimates to relegate any negative elements to blissful oblivion, there will be disappointment. And it will slam into lofty expectations—which may cause the stock market to, well, spike because, in these crazy times of ours, QE3 with all its wondrous, illusory, and ineffectual magic will suddenly reappear on the table.

(Excerpt) Read more at zerohedge.com ...


TOPICS: Business/Economy; Government; Society
KEYWORDS:

Ya got trouble, my friend, right here,
I say, trouble right here in Obamaville!

Which rhymes with 'ObamaSHILL'
which is what the BLS has become!

1 posted on 02/19/2012 4:58:44 PM PST by Kartographer
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To: Kartographer

“Unless the BLS can figure out how to statistically adjust its next set of data and estimates to relegate any negative elements to blissful oblivion, there will be disappointment.”

Yes we can! Yes we can!


2 posted on 02/19/2012 5:02:23 PM PST by Brilliant
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To: Brilliant
The Ministry of Truth has been very busy lately but will always find a way to keep the people current with the information that they need to know.
3 posted on 02/19/2012 5:15:28 PM PST by hinckley buzzard
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FR Needs New Servers
Please Donate Toward The Purchase And Keep FR Up And Running!


Click The Servers To Donate

4 posted on 02/19/2012 5:17:56 PM PST by DJ MacWoW (America! The wolves are here! What will you do?)
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To: Kartographer

I put an add out for a security analyst.

Today I got the resume of a liberal arts major, no experience as a security analyst. However she has been a reality TV actress.


5 posted on 02/19/2012 5:20:09 PM PST by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: hinckley buzzard

And over 40% of the people will swallow every word the ministry of truth feeds them.


6 posted on 02/19/2012 5:21:16 PM PST by Terry Mross (Difference between a conservative / liberal-obvious. Difference between a rep and a dem? None)
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To: Kartographer

The blog “Political Calculations” noted a recession that started a month ago by looking at government reports of the miles driven. Obama fraudsters can fool the main stream media which has been taught to report particular statistics. Most government reporters are not in on the joke, and so report their numbers honestly. It should be noted that China is also in recession: their exports to and imports from the US are down.


7 posted on 02/19/2012 5:22:32 PM PST by donmeaker (Blunderbuss: A short weapon, ... now superceded in civilized countries by more advanced weaponry.)
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To: driftdiver

Who cares about experience. Is she hot?


8 posted on 02/19/2012 5:29:20 PM PST by Lazlo in PA (Now living in a newly minted Red State.)
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To: driftdiver

Everyone wants a Ph.D trained by someone else and working for twice the minimum wage.


9 posted on 02/19/2012 5:34:35 PM PST by Revolting cat! (Let us prey!)
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To: Kartographer

“Unexpected”


10 posted on 02/19/2012 5:34:42 PM PST by MrEdd (Heck? Geewhiz Cripes, thats the place where people who don't believe in Gosh think they aint going.)
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To: Kartographer
fictual

This is a typo, right? Or did he really mean it?

11 posted on 02/19/2012 5:36:23 PM PST by the invisib1e hand (religion + guns = liberty)
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To: Revolting cat!

I don’t want a PhD, but when applying for a security analyst position it would be wise not to include your full date of birth. Oh and she is a single mother.

Besides, why should I pay more than the market rate?


12 posted on 02/19/2012 5:37:11 PM PST by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: Kartographer

Applied for 2 jobs at big companies last week. Fully qualified for the positions. No luck. Google my name and my age will come up - we don wanna this old wreck!


13 posted on 02/19/2012 5:39:36 PM PST by Revolting cat! (Let us prey!)
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To: hinckley buzzard

One of the most difficult propaganda arms to argue with lately has been the absurdly soaring equities markets (DJIA at 12,900). People see that, see their growing 401Ks, and it’s all but impossible to convince them that their accounts are being fattened for the slaughter.

But the markets are being pumped by the Keynesians, their lackey mega-investors, and foreign central banks who are desperate to invest in something stronger than their markets and currencies.

Eventually the truths of mathematics will be revealed, and “confidence” will be corrected.

I just wonder if it will be before Nov. 2012. They are all doing everything they can to float this lie until the election is over.


14 posted on 02/19/2012 5:42:42 PM PST by Ghost of Philip Marlowe (Prepare for survival. (Ron Paul is the Lyndon Larouche of the 21st century.))
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To: the invisib1e hand

1. Fictual

A word used when a moron does not know the word “ficticious.”


15 posted on 02/19/2012 5:46:36 PM PST by steve86 (Acerbic by nature, not nurture (Could be worst in 40 years))
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To: Kartographer

Blog Pimping. /s

LOL


16 posted on 02/19/2012 5:46:42 PM PST by Vendome (Don't take life so seriously, you won't live through it anyway)
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To: Revolting cat!
I searched intensively for two years, had a couple of dozen interviews. Never had a problem obtaining offers before, but suddenly no one was interested.

Actually it turns out to be the best thing that could've happened. The wife & I are building our own business and stand to do far better than the subsistence level income corporations typically offer. At least theres the hope we will.

Personally I'm glad I'm out of high tech - its a miserable world to waste a life in.

17 posted on 02/19/2012 5:49:04 PM PST by skeeter
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To: Kartographer

Great comment at the link:

Here’s how federal fudging works.

Three contractors are bidding to fix a broken fence at the White House. One is from Chicago, another is from Tennessee, and the third is from Montana.

All three go with a White House official to examine the fence.

The Montana contractor takes out a tape measure and does some measuring, then works some figures with a pencil. “Well,” he says, “I figure the job will run about $900. That’s $400 for materials, $400 for my crew and $100 profit for me.”

The Tennessee contractor also does some measuring and figuring, then says, “I can do this job for $700. That’s $300 for materials, $300 for my crew and $100 profit for me.”

The Chicago contractor doesn’t measure or figure, but leans over to the White House official and whispers, “$2,700.” The official, incredulous, says, “You didn’t even measure like the other guys. How did you come up with such a high figure?”

The Chicago contractor whispers back, “$1000 for me, $1000 for you, and we hire the guy from Tennessee to fix the fence.”

“Done!” replies the government official.

And that, my friends, is how government stimulus plans and federal grants work.


18 posted on 02/19/2012 5:50:51 PM PST by smoothsailing
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To: Kartographer

Fewer jobs are showing up in my search.


19 posted on 02/19/2012 5:51:13 PM PST by Politics4US
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Most jobs are temporary too.


20 posted on 02/19/2012 5:55:39 PM PST by Politics4US
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To: donmeaker
Similar suggestions in this data:

Trouble ahead.


21 posted on 02/19/2012 6:06:08 PM PST by nascarnation (DEFEAT BARAQ 2012 DEPORT BARAQ 2013)
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To: Revolting cat!
I saw a story on another blog of blacks in Iowa complaining that they are not getting jobs because of racism. No surprise there; but, they gave the guy's name, and then his age - 60.

I'm pretty sure it was more of a case of "ageism" than "racism".

22 posted on 02/19/2012 6:08:48 PM PST by LibertarianLiz
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To: Revolting cat!
Everyone wants a Ph.D trained by someone else and working for twice the minimum wage.

Ph.D...Piling it Higher and Deeper.
23 posted on 02/19/2012 6:18:27 PM PST by Signalman
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To: skeeter

Probably the way to go. I’m impressed that you and your wife took the initiative rather than sitting around waiting. Best of luck in your business.


24 posted on 02/19/2012 6:27:22 PM PST by RetiredTexasVet (There's a pill for just about everything ... except stupid!)
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To: skeeter

Congratulations!

We need exactly this to turn the country around.

We did the same thing eight years ago, never looked back and no one owns us!


25 posted on 02/19/2012 6:29:31 PM PST by quantim (Victory is not relative, it is absolute.)
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To: steve86

Or maybe Fictional?


26 posted on 02/19/2012 6:42:31 PM PST by cornfedcowboy (Trust in God, but empty the clip.)
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To: steve86

Fictual reality!


27 posted on 02/19/2012 6:46:44 PM PST by Revolting cat! (Let us prey!)
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To: the invisib1e hand
This is a typo, right? Or did he really mean it?

http://ask.metafilter.com/38383/The-true-meaning-of-fictual

Includes a comment by U.S.S. Clueless blogger Steven Den Beste.

28 posted on 02/19/2012 7:06:18 PM PST by TChad
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To: Kartographer

The 0bama regime has developed a method of calculating the number of unemployed - if a group becomes, or remains, unemployed, quit counting them! That way Hussein and his hooligans can show improvement without a single new job being created.


29 posted on 02/19/2012 7:14:12 PM PST by The Sons of Liberty (Psalm 109:8 Let his days be few and let another take his office. - Mene, Mene, Tekel, Upharsin)
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30 posted on 02/19/2012 8:00:40 PM PST by RedMDer (Forward With Confidence!)
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To: Kartographer

Does zerohedge ever report on any positive economic news???


31 posted on 02/19/2012 9:04:44 PM PST by RushingWater (Let's have a brokered convention and page Sarah Palin)
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To: RushingWater

Well not that I know of since Bammy was elected.


32 posted on 02/19/2012 9:12:00 PM PST by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
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To: driftdiver
Besides, why should I pay more than the market rate?

You filthy, greedy Capitalist. /sarc

I've seen a boatload of folks pad their resumes with skills they didn't have, but it's getting really bad when they demonstrate lack of skill-sets and still expect to get hired. Possibly a consequence of the entitlement generation, but just as likely the result of so few jobs available in this "booming" economic recovery. Good luck.

33 posted on 02/20/2012 4:04:07 AM PST by trebb ("If a man will not work, he should not eat" From 2 Thes 3)
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