Skip to comments.Blistering Holiday Hiring Shreds The "All The Growth Is From Inventory" Scaremongers
Posted on 11/05/2010 1:56:30 PM PDT by blam
Blistering Holiday Hiring Shreds The "All The Growth Is From Inventory" Scaremongers
Nov. 5, 2010, 3:02 PM
When Q3 GDP came in at 2%, bears pointed out that it was all due to inventory rebuilding, and that the economy was fundamentally not strong.
But as we pointed out at the time, you should only fear an inventory build if the end demand isn't there to follow it up.
And though we don't know for sure, this would confirm that the demand will be there.
Holiday hiring, as this chart from Calculated Risk shows, is already at a blistering pace compared to recent years. Retailers don't hire if they don't see demand. They're hiring.
Don't miss: 5 reasons holiday sales will be shockingly good >
(Excerpt) Read more at businessinsider.com ...
Holiday shopping might be “shockingly good”, but I don’t personally know anyone who is going to be stepping up their holiday spending over last year.
LOL...that chart doesn’t appear to show “blistering” hiring compared to the ‘90s, and the population has grown significantly since then. Employment has to go up 200,000 per month just to keep up with the increase in the workforce. At the present rate, it will take 12.5 YEARS to get to where we were in 2006.
What I have heard is that EVERYONE will be cutting back bigtime.
We can’t manufacture.
We can’t build.
Part timers are the answer!
According to Business Insider, we gained service sector jobs but lost manufacturing jobs. I don't think it's scaremongering to note that this increase may be seasonal hirings.
I am. I went Galt after the 08 election. Now have resored confidence that the US will, shortly, be back on the right track.
Everyone I know is not ‘doing’ Christmas presents this year. Token gifts for the little ones is about it.
Holiday sales will be huge! Why?
People who have not spent all year, will “make Christmas happen.”
To evaluate this look to the Carter and then Reagan’s early years.
"NIA expects all retailers to soon substantially raise food prices at the same time, which will ensure that this Holiday shopping season will be the worst in recorded American history."
Less for me...we old geezers didn’t get a COLA raise this year or next...prices for food has risen, so belts here on spending are tightened even more. I picked the grandsons/daughters up some T-shirts off the mark down rack at Penny’s for next to nothing and that is their Christmas from grandma this year. Adult kids asked us not to buy them presents 2 years ago.
Well, I don’t know about all that economy indicators business and such....I’d roast a turkey for Thanksgiving and Christmas, but I’m afraid the Secret Service would be on my ass like stink on ........[you know]
hire a retail clerk. the sales will come /s
You can make an argument that this might be a good quarter as upper income and others start taking their capital gains before the new rates kick in Jan. A sort of capital gains for clunkers effect...next year is a different story.
The rain will follow the plow.
Interesting that even before Halloween...stores around here in Reno were advertising 40-60% off everything then with extra 20% coupons. I told a friend it seems like they are trying to unload everything they can now....
I believe this story. Here in the Washington DC area, things are hopping! Restaurants are full and stores are doing VERY well.
Sheesh, that’s because DC is the locus of all that is evil. Awash in money sucked in from all the states and the Fed machine. Gov workers still have money.
Put here in rural American west things totally suck, there is almost no work for anyone, tons of foreclosures and tax defaulted properties, more empty stores than ones still trying to do business. Official unemployment in my county is about 14%.
Yes you are right.
Duh! Everyone there works for the government! of course they have money as long as Obama keeps printing it!
It is sickening that we have such an evil press of propaganda and bias. There is no truth left in government our journalism... and neither gives a damn whether we like it or not. Everyone that I know is saving and preparing for the worst.