Tomorrow’s Jobs Numbers: Dismal (Will Disability Claims Be Larger Than Drop in Unemployment?)

Confounded Interest ^ | 08/02/2012 | Anthony B. Sanders

[whitedog57]

The monthly jobs report will be released tomorrow morning. what will it look like? In a word, dismal.

Here are last month’s numbers. Remember that more people have gone on disability since June 2010 than have dropped off unemployment. And food stamps (SNAP) continue to grow like … Federal debt.

Today, the weekly initial jobless claims numbers were released. Jobless claims climbed by 8,000 to 365,000 in the week ended July 28. Lower than expected, but still not good enough to generate a recovery.

Bloomberg’s Consumer Comfort index fell … again.

And factory orders for June dropped -0.5%.

It is grim in the employment arena, but not all that surprising with the staggering number of costly regulations created by Congress and the Obama Administration. Sheer fear of taxes and regulations are a major hurdle to job creation.

[whitedog57]

A lousy jobs report tomorrow and I agree with this economist.

[beethovenfan]

I predict official unemployment up to 8.3%.

[mykroar]

You don’t have much faith in the regime’s ability to massage numbers then. I could see it drop the way these criminals play games.

[America_Right]

The way this is worded makes it sound like good news for the Obama campaign. With all of these disability claims and growth of welfare roles - it is a cornucopia of freshly minted Dem voters!

[TwelveOfTwenty]

You don’t have much faith in the regime’s ability to massage numbers then. I could see it drop the way these criminals play games.

Yup. I predict 7.9%, with a page 8 reference to the number of people who have given up looking having risen, thus dropping them from the unemployment count.