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Prelude to a Media Victory Lap: Santelli Warns Not to Buy Hype of Upcoming Jobs Data
NewsBusters ^ | March 29, 2010 | Jeff Poor

Posted on 03/29/2010 11:48:04 AM PDT by Rufus2007

With March unemployment data to be released April 2, some are anticipating what potentially lower jobless numbers will all mean for the financial markets and the economy as a whole. However, that data will come with the caveat that it will be misleading because it will include temporary jobs driven by hiring for the 2010 census.

On CNBC's March 29 "Squawk Box," CME floor reporter Rick Santelli was asked how to interpret the expected improvement. He warned it isn't the kind of job creation that is good for a sustained economic recovery.

"You know, I think it's fascinating," Santelli said. "Most experts would agree, the kind of job creation we're going to see is welcome but it isn't the kind we need in the big picture. But having said that, yes, I think that the markets will act in a way that will show a robustness if the number comes in a couple of hundred thousand and I think it's kind of silly."

...more (w/video)...

(Excerpt) Read more at ...

TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: economy; mediabias; moneylist; ricksantelli
Beware of Obamanomics. Things aren't what they are perceived to be.
1 posted on 03/29/2010 11:48:05 AM PDT by Rufus2007
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To: Rufus2007
The US Census Bureau reports that its main recruitment effort for Census 2010 followup jobs will begin in fall of 2009, with the majority of hiring to take place in the spring of 2010. Census officials say their local and regional offices will need over 3.1 million applicants to work on the post-census, non-response followup operation to take place from late April through July 2010.

This is what is happening. Temp jobs that go away!

2 posted on 03/29/2010 11:55:22 AM PDT by Red_Devil 232 (VietVet - USMC All Ready On The Right? All Ready On The Left? All Ready On The Firing Line!)
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To: Rufus2007

I take the numbers will be “expected” for once?

3 posted on 03/29/2010 11:55:25 AM PDT by NMEwithin
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To: Rufus2007; All
"Beware of Obamanomics. Things aren't what they are perceived to be."


4 posted on 03/29/2010 11:56:27 AM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: musicman

Very profound.

5 posted on 03/29/2010 12:00:02 PM PDT by MissNomer
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To: Rufus2007

many many many people are now no longer on the roll count jobs and no unemployment

6 posted on 03/29/2010 12:02:30 PM PDT by blueyon (The U. S. Constitution - read it and weep)
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To: blueyon

The jobs number is meaningless to the millions of Americans who are out of work and not working for the census. The cheerleaders could cheer all they want but they aren’t fooling many people.

7 posted on 03/29/2010 12:08:58 PM PDT by peeps36 (Democrats Don't Need No Stinking Input From You Little People)
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To: Rufus2007

8 posted on 03/29/2010 1:51:13 PM PDT by Bean Counter (I keeps mah feathers numbered, for just such an emergency...)
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To: Red_Devil 232

Wait a minute. They’ve been hiring for the census since the fall of 2009, and we’ve still been losing jobs? What aren’t they telling us?

9 posted on 03/29/2010 2:45:04 PM PDT by TwelveOfTwenty (Hey Nancy, how many jobs have been lost since you and the Democrats took Congress?)
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