Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

Skip to comments.

Mirage: Nonfarm Payrolls +169K, Labor Force Participation Falls To 63.2%, Part-time +211k
Confounded Interest ^ | 09/06/2013 | Anthony B. Sanders

Posted on 09/06/2013 6:09:22 AM PDT by whitedog57

Jobs Friday begins with a tepid display. nonfarm payrolls (NFP) rose by 169,000, less than expected. Revisions reduced a combined 74,000 jobs from July and June payrolls, so the gains we thought we had in June and July were partly a mirage.

jobs090613

Labor force participation fell to 63.2%, continuing its downward spiral. Note that M2 Money Velocity (yellow) line is following a similar downward trajectory.

lfpm2v

The number of people not in the labor force rose by a whopping 516,000 in one month, which in turn increased the total number of people outside the labor force to a record 90.5 million Americans.

The winners in the NFP derby were retail (+44k), Ambulatory health care services (+26.6k) and Food services and drinking places (+21.2k)

Part-time jobs? Up 211k. So, NFP up 169k, but part-time jobs up 211k?

The reaction in the 10 Treasury yield?

uwt10090613

mirageveas


TOPICS: Business/Economy; Government; Politics
KEYWORDS: employment; jobs; obama; velocity
Socialist recovery.
1 posted on 09/06/2013 6:09:22 AM PDT by whitedog57
[ Post Reply | Private Reply | View Replies]

To: whitedog57
So, NFP up 169k, but part-time jobs up 211k?

Full time jobs down 42k.

2 posted on 09/06/2013 6:11:03 AM PDT by Thane_Banquo ( Walker 2016)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Thane_Banquo

Waiting for humblegunner’s take. lol


3 posted on 09/06/2013 6:37:51 AM PDT by CommieCutter
[ Post Reply | Private Reply | To 2 | View Replies]

To: whitedog57
Currencies crashing in the brics, unemployment deteriorating in America and elsewhere, manufacturing deteriorating in America and elsewhere, China slowing, interest rates are rising…

Are we looking at stagflation?


4 posted on 09/06/2013 6:45:32 AM PDT by nathanbedford ("Attack, repeat, attack!" Bull Halsey)
[ Post Reply | Private Reply | To 1 | View Replies]

To: whitedog57

If everyone in the US died and were thus removed from the workforce.. “Good news comrades! Unemployment is ZERO!”


5 posted on 09/06/2013 7:12:11 AM PDT by ArtDodger
[ Post Reply | Private Reply | To 1 | View Replies]

To: whitedog57

The real story is the major downward revision of the previous period new job numbers. This is a pattern.

When is the last time the previous period number was revised upward?

This latest number will be revised downward in a month.

The market knows this.


6 posted on 09/06/2013 7:18:46 AM PDT by cicero2k
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson