Nonfarm payroll 345,000 job loss

[sprstpd]

Quote from Kassz007:

F**k no! This is the second post I've read lately that suggests rates should be raised. Raising rates would cripple any recovery we're currently experiencing, no matter how small. Not only would it fuck the credit markets but the stock market would take a hit as well. And with the fragilness and volatility in the markets right now it could be devastating. Inflation needs to be showing much stronger signs of rearing its head to raise rates.

Low rates got us into this mess and they aren't going to lead us out. Screw all the people who depend on low interest rates - let them roast. And it doesn't matter what you say, rates will be forced higher by foreigners.

 

[trickshot]

Quote from traderyin:

We have consistent + 500k job loss and 0.4% spike in unemployment the last few months. So if we only have 345k job losses this month and a 0.5% spike - it can only mean that the employment force is shrinking.

The spike is due to an increase in the total labour force i.e more new graduates or people who were previously not considered to be part of the labour force are now looking for jobs.

 

[hairdresser]

Quote from Kassz007:

If you are going to quote Doug Kass, at least let others know this is what Doug Kass said instead of trying to pass it off as being your own words...

If you are going to steal his name and act like the "Doug Kass" expert, at least tell us who you really are.

 

[ByLoSellHi]

Almost 15 million unemployed Americans, officially (unofficially, who knows...).

1 in 6 are either unemployed or underemployed (often, woefully underemployed), officially (unofficially, who knows...).

That ratio is sure to hit 1 in 5 and maybe 1 in 4, officially (unofficially, who knows...).


Green shoots.

LOL.


It's simply an epic tragedy what the shysters have done to this nation.

You guys haven't seen anything yet.

I definitely wish I didn't know what I was talking about, when we see the massive foreclosure rate and historic (in real terms, not manipulated BLS terms) unemployment rates in this country in 2010, 2011, 2012 and beyond, there really will be blood in the streets of American.

Seriously...get your SHTF kits together. Even the most optimistic among you are going to feel naked without them in a year or two.

 

[number22]

Quote from Kassz007:

Fuck no! This is the second post I've read lately that suggests rates should be raised. Raising rates would cripple any recovery we're currently experiencing, no matter how small. Not only would it fuck the credit markets but the stock market would take a hit as well. And with the fragilness and volatility in the markets right now it could be devastating. Inflation needs to be showing much stronger signs of rearing its head to raise rates.

Don't worry, i don't see you and fed pushing bond yield lower. maybe you should buy more bonds and helping lower the 10 years bond yield.

 

[Martinghoul]

Quote from Roman Candle:

Here is one item in the report everyone missed. The house hold survey. You sure won't here this in the media, it's very bad.

The details of the household survey weren't all that weak actually. In general, both the establishment and the household surveys are actually not that horrible and there are some very cautious signs of improvement. However, it's nowhere near as optimistic as the headline number might suggest.

 

[MTRIG]

Take a look at Year over Year employment rates. If you go back to the 1950's the numbers never looked this bad.

http://blog.mtrig.com/mtrig/blog/post/Unemployment-Data.aspx

 

[thriftybob]

The change in unemployment from 8.9% to 9.4% would imply job losses of around 750,000 for the month, which makes complete sense if you take out the 220,000 imaginary jobs created by the birth/death adj, and account for new people coming into the workforce that can't find jobs.

I'd guess that we will be close to 10% next month, and at 11 or 12% by the end of the year.

 

[thriftybob]

Quote from traderyin:

We have consistent + 500k job loss and 0.4% spike in unemployment the last few months. So if we only have 345k job losses this month and a 0.5% spike - it can only mean that the employment force is shrinking.

No, it means the nmbers were a lie. Look for the revision either next month or at the end of the year. That's what they ALWAYS do. Its no better than geting numbers from Bagdad Bob's Propaganda machine, IMO.