Posted on 10/22/2013 7:08:18 AM PDT by whitedog57
According to the Bureau of Labor Statistics (BLS), total nonfarm payroll employment rose by 148,000 in September, and the unemployment rate was little changed at 7.2 percent.
The bad news? Economists were predicting 180,000 increase in employment. Even worse, the increase in PRIVATE payrolls was only 126,000.
empdata102213
U6 unemployment fell to 13.6% while labor force participation remained the same.
u6lfp102213
Where were the jobs created? Transportation and Warehousing: + 23K Government: +22K Retail Trade: +21K Temp Help: +20K
NOT in labor force increased by 136,000. So, the labor force dropouts exceed private jobs created. Charming.
These numbers are not exactly conducive to an economic or housing recovery.
Here is my one chart from yesterday that shows plunging money multiplier, money velocity, labor force participation and real median household income. Mortgage purchase applications declined but have been flat since 2010 (gold line).
onechartmba
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Where?
It’s laughable that they’re continuing to call the economic situation a “recovery” at all.
How many jobs were created in the manufacturing sector? Look like none!
Manufacturing is the key sector to wealth creation.
But, according to the administration, for every billion more we go in debt, 500k jobs are created. Or something. You don’t suppose they’re lying to us? LOL!
http://www.zerohedge.com/news/2013-10-22/panic-buying-continues
The two comments on this web page strikes a chord.
“i rarely post anymore. this market is more insane than 1999. nothing to say until this mania ends.”
“Oh yea, for me now this is just watching some theater of the bizarre....far weirder than wandering thru a circus freakshow.”
No! Food Stamps are!
Nancy can chupa!
It is criminal how they extended unemployment benefits to two years during the worst of the downturn. Two years of unemployment is enough for many workers to lose currency in skills—or more accurately, to be perceived as having lost skills—for too many employers. (And really, can you blame employers for being uncomfortable with hiring someone who milked the dole for two years?)
U6 is WAY higher than 13.6%. That would suggest about 20 million are without jobs, yet, it is no doubt higher than 40 million are without jobs.
I want to see the number of full-time, 40 hour per week, salaried, exempt, workers. I bet that number right now is less than 65 million with 50 million part-time jobs held.
The BLS claims there are 115 million full time employees in this country and 27 million part time, with only 10 million looking for work at all. We know this to be total BS.
Not only is the economic situation a recovering, but its on FIRE! Those unemployed are just a bunch of DEADBEATS! There will be FReepers along shortly to tell you about it.
According to Shadowstats, the real unemployment rate is closer to 24 percent.
24 percent of the population are Deadbeats. (sarc)
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