Skip to comments.Prelude to a Media Victory Lap: Santelli Warns Not to Buy Hype of Upcoming Jobs Data
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."
(Excerpt) Read more at newsbusters.org ...
This is what is happening. Temp jobs that go away!
I take the numbers will be “expected” for once?
many many many people are now no longer on the roll count list...no jobs and no unemployment
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.
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?
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