Skip to comments.Suddenly, a Sharp Deterioration in the Job Market
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 Januaryfictual or not. This and the nasty mid-month unemployment number from Gallup revive an odd idea: has the ECRIs 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 expectationswhich 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 ...
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!
“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!
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.
And over 40% of the people will swallow every word the ministry of truth feeds them.
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.
Who cares about experience. Is she hot?
Everyone wants a Ph.D trained by someone else and working for twice the minimum wage.
This is a typo, right? Or did he really mean it?
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?
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!
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.
A word used when a moron does not know the word “ficticious.”
Blog Pimping. /s
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.
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.
Fewer jobs are showing up in my search.
Most jobs are temporary too.
I'm pretty sure it was more of a case of "ageism" than "racism".
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.
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!
Or maybe Fictional?
Includes a comment by U.S.S. Clueless blogger Steven Den Beste.
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.
Does zerohedge ever report on any positive economic news???
Well not that I know of since Bammy was elected.
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.