Payrolls Plunge To 88K, Biggest Miss Since Dec 2009, Part Rate At New 30 yr low
- Thread starter Tsing Tao
- Start date
"At one of our dinners, Milton [Friedman] recalled traveling to an Asian country in the 1960s and visiting a worksite where a new canal was being built. He was shocked to see that, instead of modern tractors and earth movers, the workers had shovels. He asked why there were so few machines. The government bureaucrat explained: âYou donât understand. This is a jobs program.â To which Milton replied: âOh, I thought you were trying to build a canal. If itâs jobs you want, then you should give these workers spoons, not shovels.â
This jobs report just cost me my biggest oneday loss in history...... ugly, ugly day. 
Quote from Tsing Tao:
Payrolls Plunge To 88K, Biggest Miss Since December 2009, Participation Rate At New 30 Year Low
Change we can believe in.
So much for "open-ended QE driven recovery". Moments ago the March Non-farm payroll hit and it was a doozy, printing at 88K, below the lowest forecast of 100K, well below the expected number of 190K, and a tragedy compared to the February revised print of 268K (was 236K). This was the biggest miss to expectations since December 2009 and the worst print since June 2012. The unemployment rate declined to 7.6%, but this was due entirely to the collapse in the labor force participation rate, which declined by 20 bps to 63.3%, a new 30 year low.
And now the time to come up with excuses is here.
Link
Its odd seeing a socialist saying who cares about jobs being lost productivity is going up.
In fact its ridiculous.
So when a company ships jobs overseas to improve productivity leftists demonize them...
But when a leftist president and his policies destroy the economic base of the country its a good thing.
Why don't leftist just admit they want drones dependent on the state so they get become more powerful.
In fact its ridiculous.
So when a company ships jobs overseas to improve productivity leftists demonize them...
But when a leftist president and his policies destroy the economic base of the country its a good thing.
Why don't leftist just admit they want drones dependent on the state so they get become more powerful.
The goddam White House is no different than Russians during the cold war. Russians were told that the world outside was going to collapse so much they believed that it had collapsed. They were told they were better off.
These bullshit artists have been shoveling workers off onto disability and reclassifying them away from the unemployment statistics when they give up looking for work.... to keep the unemployment number down, to get the votes!! They don't give a rats' ass about the unemployed people, truly, they don't give a rats' ass... It's all about expansion of government and who knows where/when the cycle will end... So far the only reason I'm living in the US is that the crime statistics are reasonable.. I looked at some places that had more economic freedom, more natural food supplies, more year-round sunlight.. but they are all overrun with kidnapping gangsters and s%^t like that. Once the US's crime stats build to that level, myself and a lot of others will probably gtfo because the southern hemisphere is a lot less polluted and has a lot less war..
These bullshit artists have been shoveling workers off onto disability and reclassifying them away from the unemployment statistics when they give up looking for work.... to keep the unemployment number down, to get the votes!! They don't give a rats' ass about the unemployed people, truly, they don't give a rats' ass... It's all about expansion of government and who knows where/when the cycle will end... So far the only reason I'm living in the US is that the crime statistics are reasonable.. I looked at some places that had more economic freedom, more natural food supplies, more year-round sunlight.. but they are all overrun with kidnapping gangsters and s%^t like that. Once the US's crime stats build to that level, myself and a lot of others will probably gtfo because the southern hemisphere is a lot less polluted and has a lot less war..