Skip to comments.Fed's Bullard says U.S. jobless rate expected to fall below six percent this year (utter BS!)
Posted on 03/26/2014 4:12:54 AM PDT by Red in Blue PA
HONG KONG (Reuters) - The U.S. unemployment rate will fall below 6 percent by the end of this year, a Federal Reserve official said on Wednesday, offering a bullish view on the country's economy after central bank comments sent shock waves through financial markets last week.
James Bullard, president of the Federal Reserve Bank of St. Louis, said that the outlook for the U.S. economy is "quite good," despite data from early in the year.
"The biggest thing is that unemployment has come down more quickly than expected," said Bullard, speaking on a panel at the annual Credit Suisse investor conference in Hong Kong.
(Excerpt) Read more at finance.yahoo.com ...
Last month, approx. 170,000 jobs were added yet there were 270,000 more unemployed due to people dropping out of the numbers.
The cost of a pound of hamburger or a pound of bacon or a gallon of milk says differently, Bullard.
Well, if another million are dropped from the labor force because they have run out of unemployment benefits, Obama’s liars can strut their phony stats on the business channels and brag about their great recovery. Families who can’t afford hamburger know better.
Think about that for a moment. We're supposed to believe the economy is wonderful, but a mere comment sends the financial markets into a tailspin. Oh, and I wonder if this Fed prostitute could explain why, if the economy is so healthy, is the number of food stamp recipients at an all-time high?
The unemployment rate will drop to 6% by October of this year...just in time to re-elect democrats. What a load.
I wonder how much they’re going to have to shrink the workforce to achieve that?
“The U.S. unemployment rate will fall below 6 percent by the end of this year...”
With or without smoke and mirrors...Because my ex-wife’s mothers butt can look smaller too...In fun house mirrors.
“And if my aunt had balls, she’d be my uncle.”
The biggest thing is that unemployment has come down more quickly than expected,
Then why wait for it to actually happen? Go ahead and report the good news!
Yes, that is how I see the situation, too. Did the child journalist who scribbled this story take any economics classes while in school?
I completely agree this can only occur if the participation rates continue to drop rapidly.
But consider this, we are moving into the bulk of the baby boomers leaving the workforce, something like 300,000/month every month this year.
You add 150k jobs a month, have 270 to 300k leave the workforce, each month for 6 months until the Oct. numbers are reported, and that’s 1,000,000 less workforce participants...
62.1% participation rate, and you reach the magical 5.99% U3 unemployment rate.
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