Skip to comments.Job Growth Loses Steam (Unexpectedly Bad!)
Posted on 04/06/2012 5:54:00 AM PDT by TonyInOhio
WASHINGTONU.S. job growth slowed in March, and the labor force shrank, signaling that the economy could be losing momentum.
Jobs outside of agriculture grew by 120,000 last monthhalf the number that the economy added the prior monththe Labor Department said Friday, marking the first time since November that job growth fell below 200,000.
The unemployment rate, obtained by a separate survey of U.S. households, ticked down a tenth of a percentage point to 8.2%, but the drop resulted in part from fewer Americans seeking work.
Economists surveyed by Dow Jones Newswires expected a gain of 203,000 in payrolls and for the jobless rate to remain at 8.3% for March.
(Excerpt) Read more at online.wsj.com ...
And yet...the unemployment number goes down, which is the only news the MSM will report.
At this rate we will be below 5.8% unemployment by November!
In related news:
New foreclosure wave to hit ‘everyday’ borrowers
updated 4/4/2012 5:45:59 PM ET
Half a decade into the deepest U.S. housing crisis since the 1930s, many Americans are hoping the crisis is finally nearing its end.
House sales are picking up across most of the country, the plunge in prices is slowing and attempts by lenders to claim back properties from struggling borrowers dropped by more than a third in 2011, hitting a four-year low.
But a painful part two of the slump looks set to unfold: Many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures.
“We are right back where we were two years ago. I would put money on 2012 being a bigger year for foreclosures than 2010,” said Mark Seifert, executive director of Empowering & Strengthening Ohio’s People (ESOP), a counseling group with 10 offices in Ohio.
“Last year was an anomaly, and not in a good way,” he said.
In 2011, the “robo-signing” scandal, in which foreclosure documents were signed without properly reviewing individual cases, prompted banks to hold back on new foreclosures pending a settlement.
Five major banks eventually struck that settlement with 49 U.S. states in February. Signs are growing the pace of foreclosures is picking up again, something housing experts predict will again weigh on home prices before any sustained recovery can occur.
“but the drop resulted in part from fewer Americans seeking work.”
Heck, by November there will be zero unemployment.
“And yet...the unemployment number goes down, which is the only news the MSM will report.”
I’m predicting -1.2%, in September, - because there will be more people working more than one job!
Obama wants another feeding at the trough of stimulus money.
At this point, the unemployment rate has absolutely nothing to do with labor. It has everything to do with politics.
The reality of the jobs numbers never get reported accurately.
NBC5 in DFW started the pro-obama propaganda this morning with the news that “ when the improved jobs report is released today, the president will share his efforts to help women”.
Really? Reports have been bouncing on the net about his low approval ratings among women for months. Now they start the lies about all he has done for the women. Always mention the wimin and chilren, they be hardest hit by dis prez.....
Bernanke said that the Fed would not provide any more stimulus unless the economy slowed.
Bernanke to the rescue next week. Start the printing press.
only when a democrat is president is the news that fewer people are working is good.. and will the unemployment numbers go down as employment slows.. I wonder when they will revise these numbers, next November 10th..
News Thursday that the U.S. Department of Labor revised upward its weekly initial jobless-claims number for the previous week didnt cause much of a huge stir on financial markets, but it represented the latest in an unusual string of adjustments to the closely followed data.
The Labor Department has now revised upward its first estimate of seasonally adjusted claims in 56 of the past 57 weeks, a Dow Jones analysis of claims reports found. Revisions to government data occur on a regular basis but it is uncommon for numbers to nearly always be restated in the same direction.
In other words, they lie each week to proclaim an improvement in initial jobless claims, and then correct the lie the following week, while the sheeple are grazing. Pathetic.
Borrowers that received modifications on their home loans 12-18 months ago are again delinquent. That begs the question: what do you do with those loans? Foreclose? Modify (again)? Cash for keys (turn them into renters)?
The can just gets kicked further down the road...
Other predictions, FWIW:
1. More and more seniors will turn to reverse mortgages when they realize they can't sell their homes due to a lack of qualified buyers.
2. The accumulation of student loan debt will strangle the single family industry. Who's going to be able to accumulate savings for a 20% downpayment when you're servicing a $100,000+ student loan? Add increased taxes to that, and you're looking at weak consumer spending to boot.
Now that's what I call a trend! LOL!
The only concern for the Gubmint - is that fewer workers and employers are making Social Security and Medicare contributions to the ‘so-called’ lock box fund.
Received this email - which should concern every citizen, student, worker and retiree.
SOCIAL SECURITY NOW CALLED ‘FEDERAL BENEFIT PAYMENT’/ENTITLEMENT!
Have you noticed, your Social Security check is now referred to as a “federal benefit payment”?
I’ll be part of the one percent, to forward this, our government gets away with way too much in all areas of our lives, while they live lavishly on their grossly overpaid incomes! KEEP passing THIS AROUND UNTIL EVERY ONE HAS READ IT.....
SOMETHING TO THINK ABOUT THE ONLY THING WRONG WITH THIS CALCULATION IS THEY FORGOT TO FIGURE IN THE PEOPLE WHO DIED BEFORE THEY COLLECTED THEIR SOCIAL SECURITY!!!! WHERE DID THAT MONEY GO?????????????
This was sent to me, I am forwarding it because it does touch a nerve in me.
This is another example of what Rick Perry called “TREASON in high places”!!! Get angry and pass this on!
Remember, not only did you contribute to Social Security but your employer did too. It totaled 15% of your income before taxes. If you averaged only $30K over your working life, that’s close to $220,500.
If you calculate the future value of $4,500 per year (yours & your employer’s contribution) at a simple 5% (less than what the government pays on the money that it borrows), after 49 years of working you’d have $892,919.98.
If you took out only 3% per year, you’d receive $26,787.60 per year and it would last better than 30 years (until you’re 95 if you retire at age 65) and that’s with no interest paid on that final amount on deposit! If you bought an annuity and it paid 4% per year, you’d have a lifetime income of $2,976.40 per month.
The folks in Washington have pulled off a bigger Ponzi scheme than Bernie Madhoff ever had.
Entitlement my butt, I paid cash for my social security insurance!!!! Just because they borrowed the money, doesn’t make my benefits some kind of charity or handout!!
Congressional benefits —— free healthcare, outrageous retirement packages, 67 paid holidays, three weeks paid vacation, unlimited paid sick days, now that’s welfare, and they have the nerve to call my social security retirement entitlements?
We’re “broke” and can’t help our own Seniors, Veterans, Orphans, Homeless.
In the last months we have provided aid to Haiti , Chile , and Turkey . And now Pakistan .......hideout of bin Laden. Literally, BILLIONS of DOLLARS!!!
Our retired seniors living on a ‘fixed income’ receive no aid nor do they get any breaks while our government and religious organizations pour Hundreds of Billions of $$$$$$’s and Tons of Food to Foreign Countries!
They call Social Security and Medicare an entitlement even though most of us have been paying for it all our working lives and now when its time for us to collect, the government is running out of money. Why did the government borrow from it in the first place? Imagine if the *GOVERNMENT* gave ‘US’ the same support they give to other countries.
Sad isn’t it?
It’s the weather!
Reuters: “The slowdown in employment growth last month likely reflected the fading boost from unseasonably warm winter weather.”
-—the economy could be losing momentum.-—
Lolz. I guess I missed the momentum.
-—but the drop resulted in part from fewer Americans seeking work.
Heck, by November there will be zero unemployment.-—
I knew Obama could do it! Ye of little faith.
Then how did the unemployment rate go down to 8.2% from 8.3%?!
Meanwhile, the unemployment rate fell to 8.2% as the labor force shrank by 164,000 workers, mostly due to white women leaving the job market.
The hardest hit industry was retail, which lost 33,800 jobs, mostly at department stores.
You can’t say BLS without the BS.
There is a rotation. One month its weather. Another month, Europe. Another month, earthquakes in Japan. And of course, there is the ever-reliable, Bush’s fault. Of course, it cannot be the brain-dead economic policies of one Barack H. Obama.
Stuart Varney on Fox Business News just reporting that 2/3 of the jobs went to the 55 and over age group! One of his guests said the reason is that the savings of so many have been so depleted it is necessary for them to continue working. But the MSM won’t be reporting that fact.
Unexpectedly, I unexpectedly unexpected this unexpected article to unexpectedly unexpect unexpected facts unexpectedly. Unexpecting the fervently unexpectations of true unexepectedness, and unexpected cermoniously unexpectations all unexpected unexpectedly, unexpecting before the unexpected public of unexpected unexpectations in an unexpected way.
The good news is that they juggled the numbers so that the jobless rate went down.
So economists expected more new jobs and the jobless rate to stay at 8.3%. Instead, we got half as many new jobs and the jobless rate went down!
Figures don’t lie, but liars can figure.
The Soviet Union used to report 100% employment. If you include the labor camps, I guess that was true.
It won’t matter if the unemployment figures drop. If Americans arent’ working, they aren’t voting for Obama. The unemployment rate won’t matter much to those with jobs. They have other things to worry about, like the skyrocketing cost of living under this president.
Was listening to a radio host Ben Ferguson, subbing for local DFW host Mark Davis today. He stated there are almost 88 MILLION Americans out of work. This number will never be reported by the lame stream media, even the local media affiliates.
Can someone explain to me how in the h*ll these numbers of unemployed Americans are simply ignored by the media? Just because the idiot Kenyan squatting in the White House orders the unemployment numbers cooked doesn’t mean these people have vanished.
But 2 weeks ago the 1st time jobless claims were a record low 348,000. Then the next week it was another 4 year low as it dropped 3,000 from the week before to 359,000. Yep, apparently 359k is 3,000 less than 348k in obamaland! Just yesterday it was another 4 year low of 357k.
I must be growing senile but these numbers are screwy. The BLS wouldn’t put out propaganda, would it?
And of course not telling the whole truth is not the same as lying. The MSM is expert at this. So is oblabla.
Heck, by November I hope Zero is unemployed!..............
Gosh, I guess no one would want to discuss our unexpected $4.15 gas prices now, would we, and how that might factor into all of this.
Or that tax time is coming, with many of us living in abject fear over what THAT bill is going to look like.
I am now relegated to clearance racks only. I’m buying more tuna that I ever have before. We have a house, food, utilities and bills all paid,but there’s just not much more after that. We eat out less and less. I shop now, maybe once every six months. That’s it. I have cut, and cut, and cut.
Wake up, American. You’re taxing us to DEATH. We have nothing left to spend after taking care of basic needs.
Hey......the temp job numbers from Christmas must be trickling in along with the temp ‘green job’ numbers?
But you are seasonably adjusted right?
You absolutely nailed it. Obama’s media will never let him look poorly. If Bush was still in office you would see them reporting 30% unemployment, starving children, and bloodshed.
you cannot have an economy based upon the buying and selling of debt and consumer spending as we have , and at the same time burden the producers with taxation, government debt, regulation and usery interest to the point that the producers have no abilty to buy, sell or produce
it just cannot work
What job growth?
Note the memes...
“Republicans have no respect for women”
Republican War on Women”
Etc, etc, adn.
Nobody in the media DARES to question the Current Democrat Truth, lest they be blacklisted, branded a racist, unemployed, and looking for a new media job in the Obama Economy.
housing prices are based upon what the moneylenders will loan on a given property.
To seize real property from phony funny money the fed just refuses to approve previous loan amounts on properties and the price of real estate drops just like that. As it makes the entire economy dive , the wolves descend and grab what they can, converting phony funny money into real property. Its a repeating cycle, first implemented in "the Great Depression"
I hope and pray that the incoming GOP Congress and President will force the Department of Labor to retroactively fix the false reporting of this administration. Use the bully pulpit to show how the Obama administration has cooked the books and distorted, i.e. LIED ABOUT the unemployment rate.
So did Nazi Germany
When you consider the intervention by the Obama administration, I believe it's now much harder to foreclose on homes when the loans aren't being paid off.
Where's the requisite damnation of evil banks in here...
Oops, didn’t go far enough. There it was...