US economy creates 18,000 jobs in June, much lower than expected (ticker only)

MSNBC ^ | 7/8/2011 | msnbc

[catfish1957]

Now that QE2 is done, the punk POTUS will really love the numbers that follow.

[Alberta's Child]

I think there’s a lot of truth to what you’re saying. In my business, we’ve just kind of hunkered down to see what the future brings. Uncertainty is far worse than predictability in business — even (believe it or not) to the extent that a predictable “bad” economic policy is easier to deal with than unpredictable “good” policies.

[tobyhill]

and soon we will see this revised to -18,000.

[InvisibleChurch]

sorry, shut that tax cheat down

[Publius Valerius]

I am not sure that you’ll see much of that. This is a disaster, and there isn’t much to do to get around it. More interesting will be 44’s presser at 10:30. What is he going to say about this now?

[newzjunkey]

You may have heard it. That would be in line with expectations but, clearly, they were wrong.

[wbill]

I think they’re going to just wait this storm through and see what shakes out electorally next year.

Yep, that's what I'm seeing at work. We're spending a little, hiring a little (mostly to keep up with normal turnover), but mostly are in a wait and see mode. ObamaCare, and the current regulatory/spending orgy in DC, is really overturning a lot of applecarts, especially with smaller companies.

Heck, that's what I'm *doing*. Cutting back on most everything, spending only on the stuff that's needed. Socking away pretty much every penny that I can, just in case.

[Wyatt's Torch]

From zerohedge:

This chart needs no commentary. At 64.1%, the Labor Force Paritipcation rate just dropped to a fresh 25 year low: the civilian labor force declined by 272K from 153,693 to 153,421. And tangentially, the employment to population ratio also slumped to a multi decade low of 58.2%.

[wbill]

See my post #47. Great minds, and all that. :-)

[Wyatt's Torch]

That was the ADP report. Typically ADP numbers are higher than the BLS numbers but recently they’ve been pretty far off (disconnected). Most economists were expected them to be closer together this month.

[OpusatFR]

The stromtroopers will be on that kid momentarily for selling lemonade without a license and for not having the local thugs inspect his food preparation facilities.

[newzjunkey]

He'll scold Republicans, infer it's Bush's fault, talk about "millionaires and billionaires," "corporate jets," a "balanced approach," "shared sacrifice."

Moody's chief economist (Mark Zandi) calls these numbers a game changer in the debt ceiling debate and told CNBC, “This kind of job number changes the dynamic of the discussion on fiscal policy. There will probably be an introduction of more [economic] stimulus.”

[wbill]

What is he going to say about this now?

"Let me be perfectly clear on this....The Greatness of the American People will...." blah blah blah, yadda yadda yadda.

:-)

[ScottinVA]

The Demented Unhinged crowd is pounding itself blaming corporations. Damn, they’re funny.

[Alberta's Child]

LOL — right!

[andy58-in-nh]

That kid had better have a common victualer's license to sell that lemonade, as well as a health inspection certificate prominently displayed. And he's also going to need a posted list of all of the ingredients in the lemonade mix, along with complete nutritional information including the daily minimum requirements of all vitamins and minerals and the fat content (in grams) in each cup. And of course, he will need to post a sign that none of the ingredients or materials used to make the ingredients ever came into contact with any peanut products, because someone might have an allergy and go into analphylactic shock. He'd also better be ready to report his earnings to the IRS, to the penny, and withhold the necessary self-employment tax.

Yeah. We're screwed.

[ScottinVA]

Yeah I just saw that May was revised from +54,000 to +25,000. That’s a change of 54% correction...

+43K over two months....oh, THERE'S a winning hand! /s

[Gaffer]

That little ditty (expected by sane people, unexpected by rabid liberals) isn't the real news; the real news is that May and June's estimates of "new jobs" were adjusted DOWNWARD by 44,000.

This is just a goddam lying game the administration plays with numbers is pulls out of you-know-where. Big fanfare on something even remotely good and then when no on is looking they go back and correct the numbers from previous months to what they really were with little public mention at all. They should all be in prison.

[Mr. K]

Looks like McDonalds created all that they could.

Couldn’t they get Wendy’s to comply this month?

[Mr. K]

These people float numbers all over the place

they said GREAT NEWS the other day of 157,000- but today it is 18,000

It is HIGH SCHOOL GOVERNMENT day in the white house, for 4 years