Skip to comments.April Payrolls +165,000, 7.5% Unemployment Rate, Participation Rate Flat At 1979 Levels
Posted on 05/03/2013 5:37:30 AM PDT by Perdogg
Following the March NFP disappointment, it was only reasonable to expect a modest beat in this month's data which came at +165,000, on expectations of +140,000, and also following a revision to the March number from 88K to 138K. The unemployment rate declined from 7.6% to 7.5% beating, expectations of an unchanged print. The flipside, as always, is that the labor participation rate remained flat, at 63.3%, once again the lowest since 1979.
(Excerpt) Read more at zerohedge.com ...
Just noticed the Obama buttlicking media in Miami Florida is touting this Big Lie as “good news”.
Anything at ‘1979 levels’ is definitely not good, economically speaking.
It is reminiscent of a certain malaise.
History never repeats, but it sure does rhyme!
Thanks to the looming train-wreck of ObamaCare, the shift to part-time workers has begun. Employers will be hiring two cheap workers in place of one full-time, expensive worker. No doubt Obama and the state-controlled media will crow about the spike in employment, and the clueless will see this as a good thing.
Yeah well I don’t see a Reagan on the horizon so I don’t expect a 1980’s revolution.
Then why is it that I can’t find a job?
Back during the Bush Administration before 2008, when job generation was exceeding 200K month after month, the “media” attempted to term that a “recession.” Now we see 165K, and it’s the Golden Age again.
Welcome to the “new normal.”
This garbage data will be revised downward soon.
TMA62~:” Then why is it that I cant find a job?”
Employers are able to retain current employees , even at reduced hours ,
since employees are reluctant to quit and then look elsewhere .
Employers are not adding new jobs , except in desperately needed areas.
There are cut-backs in Research and Development expense.
They are requiring a bachelors degree in order to be a cashier at Mc Donalds.
seems like I hear that every month yet numbers are consistently revised up. last two went up significantly
TMA62~:” Then why is it that I cant find a job?”
The administration is trying to up-scale the OCCUPY movement since the last attempt didn’t go so well.
The administration needs more anarchists in the street in order to mobilize DHS/FBI/FEMA
Summer of Recovery Part Cinco!
bullsheet 7.5% total fabrication
30% is more like it
Question: According to the Assclown’s Stimulus Chart, what was the PROMISED unemployment rate supposed to be by now?
Average private non-farm workweek dropped by 0.2 hours to 34.4 hours which is the equivalent of 700k jobs lost.
Actually the March numbers were revised upward.
These are decent numbers. The market is probably going to love them.
I can’t believe that after 5 years of Obama, anyone would take “good news” from the government very seriously.
New record highs.
A LOT of money to be made in the market under Obama. He is a terrible president, but he and Bernanke have been great for the market.
I feel sorry for all the hopeless bears and gold bugs who read sites like ZeroHedge and believe the market is about to collapse.
Yes, our economy sucks and is a house of cards - but that doesn't mean one can't make a lot of money if they take advantage of the current situation.
One of the reasons even though I am desperate to get out of the West Texas desert I am staying put.
It is one of the few places in the country doing well thanks to the oil boom. Lowest unemployment in the country, rapid growth, restaurants having to start at 11 bucks an hour since they can’t keep workers who can easily go to the oil field and make a lot more.
Been like this for at least two years.
I want to go to east Texas or back home to Kansas where they have seasons, or at least green grass, rain and trees and you aren’t five hours from a major city.
But, my wife and I are too blessed to leave (she has an incredible job helping other non-profits being successful through a program of a foundation she works for), and it would be completely be foolish to leave. The people are good here, too.
If people want work, come here. But, they better come fast before they can’t afford to buy a house here.....it’s getting rapidly to that point as there are not near enough homes to go around.
The Ministry of Propaganda has spoken.
Both February and March were both revised upward:
February revised +268,000 to +332,000, March was revised from +88,000 to +138,000.
If you have a stable job and income , friends, and good neighbors , there is no reason to leave and go into the unknown.
Perhaps your family will overlook the brown grass , lack of trees and rain , and they may want to relocate to your area.
Be patient my friend , especially in times of turmoil .
Participation rate flat, yet unemployment down? How can there be more people unemployed yet the rate go down? Cooking the books as Zero always does.
If you’re going to cook the books, might as well go all out.
I have decided basically I am going to try to start a garden this year and plant something and put in a cheap water feature and misting system to my wife can be outside (she has a heat allergy so the 100-degree temps every day in summer are not something she can be out in). Gardening is tough here due to the caliche.....hard as rock dirt below the surface....but raised beds do well. Thanks to a new water pipeline, we won’t be in water restrictions this summer, so I can water as much as needed also.
Frankly, having an oasis in the back yard would make it okay. We do enjoy it here other than the scenery and weather, so we can’t complain really. I guess after four years, I just am going through a homesick phase. But, God has blessed us tremendously to be here in a time when the economy is doing so poorly everywhere else.
I doubt it, after all in a couple of months it will be old news, ala Benghazi. And by then unemployment will be at 7%, economy will be first class, no problems with housing, jobs, wages, immigrants, healthcare, poverty, etc., etc., etc.
1979. Man do I remember those Jimmy Carter days.
You’re better than that...even for a Gator....;-)
There is no doubt that the job market is significantly better that it was in 2008-09. Is it “great”? No. Job growth around 160K is not strong. But claims are well below normal and the economy is growing, albeit slowly. These numbers fit a 1.5%-2.0% growth market.
How are there more unemployed? The +165K is the net of additions and subtractions. From the BLS release:
The unemployment rate, at 7.5 percent, changed little in April but has declined by 0.4 percentage point since January. The number of unemployed persons, at 11.7 million, was also little changed over the month; however, unemployment has decreased by 673,000 since January.
Some of the libs I work with are now shocked that they are part-timers.
I suppose they voted for some extra time at home...unpaid!
Job participation rate didn’t change.
“I feel sorry for all the hopeless bears and gold bugs who read sites like ZeroHedge and believe the market is about to collapse.”
Unfortunately, Longbow, you can get out your violin for me. because I am one of those bears you are referring to, I’m sorry to say. Although I was never a ‘gold bug’, at least not by the conventional definition.
I only glance at the weekly and monthly economic reports now, leaving the ‘analysis’ to someone else. Nothing seems to matter except those 85 extra billions from the Fed.
Hopefully there’s still time for me to change my ways...
"Here we notice that just like in prior months, a key part of the growth was attributable to those aged in the 55 and over group, which added 79K workers, although a surprising change was the massive addition of some 187K workers in the lowest paid, 20-24 age group - the biggest monthly jump in this category since September."
"But perhaps the most curious development in the April jobs report is the gender breakdown: of the 293,000 jobs added per the Household Survey, women workers (aged 16 and older) accounted for ... 384K? Men - sorry. 90K males lost jobs in April."
So we are supposed to believe there was massive hiring of of people aged 20-24 and women.
This, just after one of the worst ADP payroll reports, and numerous other negative reports.
This jobs report seems fishy.
Right....which is why UE rate went down. Numerator decreased while denominator remained the same.
Just don't take your eyes off your positions. In fact, it's best to just take the hit on trading fees and close them out every day - the headline risk in the Obama era of indifference to Islamic radicalism is very high. And get the obsolete buy-and-hold thinking out of your mind - in this aristocracy of pull, today's high-flying CEO can piss off the government at any time and become tomorrow's felon, even if his books appear perfectly sound.
Me, I like the blackjack tables in Las Vegas better. At least the rules don't change by the minute...
It was definitely bad. And we thought $1.00 gallon gas was sky high.
From “Top Secret!”
Hillary Flammond: My uncle was born in America.
Nick Rivers: Oh, really?
Hillary Flammond: But he was one of the lucky ones. He managed to escape in a balloon during the Jimmy Carter presidency.
I think you have that backwards.
Nope. The number of UE is the numerator and that went down. The denominator is the labor force and that was unchanged. Therefore the unemployment rate (percentage of UE to Labor Force) declined.
At least back in those days most Americans knew that the Bolsheviks were our enemies. Now they are in the White House and control the Senate. I was thinking just this afternoon that we are now about 20 years or so since the Soviet Union crashed and burned. That is 20 years that young people have not had to live under the threat of the Communist red hoard. Kids born in the last 20 years, kids that were 20 and under when the SU went under (thus are 40ish now), have not lived under the Red threat. So, they believe this crap when the Bolsheviks in D.C. tell them. Thus, young Americans believe this commie crap. That socialism is the cure too all ills. They do not see the true threat of the Communist regime in D.C. They don’t know the threat of Communist like Stalin. Certainly the history books of today and the education system of today is not telling them who Stalin and the Communist are and what they did, murdering over 50 MILLION of their own citizens. Truly, America is doomed because the future is these young people who have no idea what true Bolsheviks and communism is.
Your statement is correct UNLESS the piano falls on your head.
The other aspect to consider is the question of whether you make money or not... WHAT will it eventually be WORTH?
Three minutes worth watching.
Ron Paul & Jim Rogers on the government:
"They'll use force and they'll use intimidation"
Watch for this: If I were faced with cutting back employee hours or total numbers but I still had the business volume My next move would be to form a separate corporation . The old job for the old company might work 30 hours/week. The new company might work the other ten or twenty. Same plant-—two jobs——just punch out on Wed. and punch back in Thur. morning-————————————————————————————————and by the way, Who’s counting the graduates coming into the market this month and next? I’ve seen it before but a whole bunch of these new guys will probably be offered half-time or probationary jobs. Gonna be some disappointment out there.
Thank you Mr. Jeeves.
I will be taking your advice.