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Little

Rising unemployment was, assording to the press,,,

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View Post"Unexpected".

 

I haven't read up on all the articles yet. What exactly was expected, and why?

 

 

You're being funny right??? Being a little sarcastic, this morning, huh???wink.gifwink.gif

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Here's one guys take.

Friday, January 8. 2010

 

 

Posted by Karl Denninger in Macro Economicsat09:46

(Page 1 of 341, totaling 1702 entries)» next page

Non-Farm Payrolls 12/2009 - Eek

 

This is not a good report.

Nonfarm payroll employment edged down (-85,000) in December, and the
unemployment rate
was unchanged at 10.0 percent, the U.S. Bureau of Labor Statistics reported today. Employment fell in construction, manufacturing, and wholesale trade, while temporary help services and health care added jobs.

This is huge, and is why last month the report was an actual "green shoot" but not conclusive evidence of a turn.

This month threw cold water on the premise that the corner has been reached and we are now on the "upswing".

employed-2010-01.serendipityThumb.png

While the number of employed is not dropping as quickly on an annual comparison basis, it is still declining. For me to get somewhat-positive that red line has to go above zero and remain there, as it did in the middle of 2002.

But the truly bad news is found here when it comes to sustainable recovery and a look forward in terms of budget deficits and thus being able to "work our way out of the hole" on systemic debt:

nilf-2010-01.serendipityThumb.png

After dipping back momentarily the inexorable rise continues.

This graph, more than anything else, shows the structural problem our economy faces going forward, and is one of the reasons that I believe "this time it's different" when it comes to sustainable recovery.

We have not managed to add people back into the labor force on an annualized basis since this series began!

This means that there are more and more people who are sucking on the government teat, which is not true GDP - it is a transfer tax. It is part and parcel of the Ponzi. And since this downturn began both of the indications that we might be seeing "hope" - the first around the end of 2008 and now this year at the end of 2009 - proved to be nothing more than tiny downward blips in a pattern that shows incredible and continuing deterioration.

Government fools have already been out this morning talking about further extending unemployment benefits. All that will do is cause interest rates to move higher (due to more government borrowing) and further smash housing and other long-running investment.

Sorry folks.

This report is, unfortunately, a whole bottle of "Round Up" dumped on the top of the previous month's "Green Shoot."

What is especially troubling in this report is the implication that employers, who usually hold off on firing until after Christmas, didn't this time around. That has nasty written all over it - and leaves open the possibility that we're nowhere near the bottom on this cycle.

 

 

I guess he thinks it doesn't look good.

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I'm not sure what Little reads, but the evil commie leftists I hear on NPR sure aren't bubbling with glee at the claimed sight of any rising employment. The wicked MSM that I read (The Economist, NYT) don't note any real recovery as at hand, either.

 

Bad headache this morning, Little?

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View PostI'm not sure what Little reads, but the evil commie leftists I hear on NPR sure aren't bubbling with glee at the claimed sight of any rising employment. The wicked MSM that I read (The Economist, NYT) don't note any real recovery as at hand, either.

 

Bad headache this morning, Little?

 

No no. Read. I have read a dozen articles in the last two days that said unemployment went up unexpectedly. What was the reason to expect it to go down?

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I don't see a decline in the RATE of job losses as significant of any recovery. In a recession companies eventually reach the point where there's no one left to lay off except essential personnel that they can't operate without. There is no good news without significant job GROWTH outside of the govt.

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View Post"Unexpected".

 

I haven't read up on all the articles yet. What exactly was expected, and why?

 

Nothing was "unexpected". That's just mediaspeak that translates into layman's terms roughly as: "Obama's doing such a great job that no one could have seen this coming and whatever you do, don't think that this bad news is any reflection on our beloved Messiah".

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View PostYou haven't been looking nearly hard enough.

 

I know people who have 2 or 3 jobs.

 

 

Yes I have. Maybe if these people didn't occupy multiple jobs I'd have one.

 

And secondly, I took a pay cut of $17,000 before I finally got laid off. Which is exactly what "underemployment" is.

 

Since you know people with many jobs, maybe you can help me find one that actually helps me afford car insurance and rent in the state of New Jersey. I don't live in Arkansas where the rent is $350 a month.

 

Till then....McDonalds won't cut it. I'm sorry that my professional experience should allow me to make more money then I did pumping gas at the age of 18.

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View PostYes I have. Maybe if these people didn't occupy multiple jobs I'd have one.

 

And secondly, I took a pay cut of $17,000 before I finally got laid off. Which is exactly what "underemployment" is.

 

Since you know people with many jobs, maybe you can help me find one that actually helps me afford car insurance and rent in the state of New Jersey. I don't live in Arkansas where the rent is $350 a month.

 

Till then....McDonalds won't cut it. I'm sorry that my professional experience should allow me to make more money then I did pumping gas at the age of 18.

 

You didn't just blame other people, with initiative, for your lack of initiative, did you?

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View PostYou didn't just blame other people, with initiative, for your lack of initiative, did you?

 

 

No. I've been sending out my resume every day for the last few months. It's not your business but I've decided to tell you that I've made close to $36 an hour while working roughly 50-80 hours a week.

 

It's funny cause as soon as you posted that "oh I know many people with 3-4 jobs" something came up that was half way decent.

 

Thanks for the motivation proclamation. beers.gifhighfive.gif

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View PostMaybe if these people didn't occupy multiple jobs I'd have one.

 

wow.

 

so people who have multiple jobs should give up a job so you can have a job?

 

and I guess people who have more than 1 car should give up one and give it to you so you can have a car.

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