The Journal Finally Gets It : Says US Job Market May Not Be As Strong As Reported (Naysayer alert)

New York Post Business Column ^ | 05/31/2007 | John Crudele

[SirLinksalot]

It only took the nation's most prominent business newspaper a decade and a half to figure it out, but the Job Market's Strength May Have Been Overstated.

That was the headline the other day in The Wall Street Journal, which considers itself the nation's pre-eminent financial newspaper.

[Bon mots]

I don’t know - somehow 9 million Mexicans who shouldn’t have somehow found employment.

It doesn’t look like a bad job market to me.

[dirtboy]

If they aren't careful, the press will soon figure out why inflation is really worse than advertised

Nah, the press doesn't want to report that because it's the way the government is attempting to deal with the looming Social Security shortfall.

[Toddsterpatriot]

John could count all the jobs himself. Quick, you’ve got a month.

[Eric in the Ozarks]

North African Muslims have no trouble finding jobs in the Twin Cities. Fact is, the place is overrun with them. How’d this happen ?

[gas0linealley]

“It doesn’t look like a bad job market to me.”

You aren’t competing for a job with those “9 million Mexicans”, are you?

By the way, where did you get the “9 million” number from?

[philman_36]

If they aren't careful, the press will soon figure out why inflation is really worse than advertised and how big the federal budget deficit really is.
IMO they won't. They'll ignore it just like they have in the past.

[Rockitz]

I read a newsletter by Jim Shepherd (http://jasmts.com/) over a year ago that explained that there are also many who have had their unemployment benefits expire and thus can’t claim to be unemployed and many others who are simply living off the equity in their primary residence which explains why the debt levels for the average American are going through the roof and why the savings rate is now negative. The term “smoke and mirrors” comes to mind.

[SirLinksalot]

By the way, where did you get the “9 million” number from?

I'd like to know myself.

Some are even estimating 12 Million illegals. Do we really know how many there are ?

[Rockitz]

Addendum: Mr. Shepherd also talks alot about the loss of manufacturing jobs overseas due to free trade since Clinton signed it into law.

[Sidebar Moderator]

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[1rudeboy]

I read a newsletter by Jim Shepherd (http://jasmts.com/) over a year ago that explained that there are also many who have had their unemployment benefits expire and thus can’t claim to be unemployed . . . .

Aw Jeez, not this crap again.

[gas0linealley]

I didn’t bother to read the other article, the one about the number of new jobs in May, because I don’t trust the Government to put out honest numbers.

As I was thinking about that, you posted this article. Great minds...

Some writers are guessing that the number of illegals may top twenty million.

[Toddsterpatriot]

explained that there are also many who have had their unemployment benefits expire and thus can’t claim to be unemployed

LOL!

[Bon mots]

By the way, where did you get the “9 million” number from?

The numbers commonly tossed about range from 6-20 million ILLEGAL aliens invading the USA. The same Mexicans who boo the US National anthem at sporting events and who booed Miss USA during a recent beauty pageant.

Even the MSM can't hide this issue: USA TODAY +6 million

Every major newspaper in the country that has reported a number -- from the Wall Street Journal to the Los Angeles Times to the Boston Herald to the St. Louis Post-Dispatch -- has given an estimate of about 11 million or 12 million.

I just split the difference - this is about 10% of Mexico's population.

[longtermmemmory]

The Wall Steet Journals NEWS PORTION IS and WAS rated among the most LIBERAL in the new media.

The reason they are seen as “conservative” is because of the editorial page the news people generally disregard.

This is just a piling on by liberal reporters.

[Mase]

I read a newsletter by Jim Shepherd (http://jasmts.com/) over a year ago that explained that there are also many who have had their unemployment benefits expire and thus can’t claim to be unemployed

Then Jim Shepherd is an idiot who never bothered to learn how the unemployment rate is calculated. Anyone interested can go to the BLS site linked below:

BLS FAQ's

..which explains why the debt levels for the average American are going through the roof and why the savings rate is now negative. The term “smoke and mirrors” comes to mind.

There's a term that comes to mind but it's not smoke and mirrors.

Looks like our debt to income ratio has increased by less than 1% over the past decade during a time of historically low interest rates and record home ownership. Does this look like our debt is going through the roof to you?

If the savings rate is so bad today, why have we achieved a record household net worth in this country? The savings rate, as calculated by the government, is always highest during economic downturns. As a matter of fact, the rate of savings was 12% during the 1982 recession. Maybe Americans find better returns in the stock markets than they do in passbook savings. I'd suggest other sources for your information than Jim Shepherd.

[gas0linealley]

What does the Federal Reserve say about the money supply? Exactly how many dollars are in circulation and how many are being added quarterly?

[iopscusa]

If after the 1986 Amnesty it was determined that the actual Illegal Alien figure was 3X’s the bogus number published prior to passage the ‘86 Amnesty bill!

Thus, a better estimate today is likely more than 30 MILLION illegals.....probably even more than 3X’s the bogus 12 Million given by the Amnesty crowd....IOWs, 36 Million ILLEGAL INVADERS+

[Toddsterpatriot]

Why don’t you explain deflation?