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June Payrolls +195K Much Higher Than Expected (7.6%); Underemployment Rate Soars To 14.3%
Zero Hedge ^ | 07.05.13

Posted on 07/05/2013 5:36:41 AM PDT by Perdogg

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To: Perdogg

how many of these are full time jobs and not one full time restaurant job being split into 2 part time jobs for Obamacare?


51 posted on 07/05/2013 10:11:29 AM PDT by rurgan (give laws an expiration date:so the congress has to review every 4 years to see if needed)
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To: rurgan

Yup...some of that is what this is, the full-time job splits from business coping with 0bamacare.


52 posted on 07/05/2013 10:24:43 AM PDT by EBH (Democracy is the language of dictators.)
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To: Perdogg

The one thing I wish we could do is compare the “real” unemployment numbers between Bush and Obama. The problem is that we never used “real” unemployment numbers when Bush was President for whatever reason. It would be interesting to compare the facts between then and now.


53 posted on 07/05/2013 10:28:54 AM PDT by napscoordinator (Santorum-Bachmann 2016 for the future of the Country!)
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To: bereanway

Disposable incomes based on the first quarters numbers and since are falling at about 9% per year. That’s horrendous.

The entire Department of Defense begins Furlough’s next week. Watch that 9% skyrocket. I am one of the DOD folks who will be furloughed 20 percent a week....guarantee I am watching my pennies until AT LEAST October and many others like me are doing the same.


54 posted on 07/05/2013 10:31:24 AM PDT by napscoordinator (Santorum-Bachmann 2016 for the future of the Country!)
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To: Perdogg

I hope they don’t count Federal, State, and local government employees as “employed”.

A) They produce nothing, B) They consume what others produce.

Every such employee should count twice as “unemployed”.


55 posted on 07/05/2013 10:35:05 AM PDT by Jim Noble (When strong, avoid them. Attack their weaknesses. Emerge to their surprise.)
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56 posted on 07/05/2013 11:50:26 AM PDT by RedMDer (When immigrants cannot or will not assimilate, its really just an invasion. Throw them out!)
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To: Wyatt's Torch
Overall a positive report.

The numbers upon which the report are based are faulty. Anything "good" under the Obama cabal is rooted in pernicious lies.

The price of gasoline is killing hard-working Americans as the Obama regime regulates domestic energy producers to the point of failure. And his banning of offshore drilling only makes the consumer subject to the whims of the muzzies as this chart clearly shows (and things have only gotten worse).


57 posted on 07/05/2013 12:00:40 PM PDT by re_nortex (DP - that's what I like about Texas)
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To: napscoordinator

Republicans are the party of prosperity. DemonRATS are the party of poverty. It's that simple.

During the "Contract with America", when Newt Gingrich and the GOP has neutralized Klintoon, gas prices here in Texas were at 78 cents a gallon. The Bryan-College Station was under 2%. America is reeling under the anti-business, pro-union policies of Obama. Granted, Texas is doing fairly well but it pales in comparison to the economic vigor during the Gingrich-Bush era.

58 posted on 07/05/2013 12:09:02 PM PDT by re_nortex (DP - that's what I like about Texas)
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To: Perdogg

Without any new jobs in industrial production and hard goods manufacturing the rest is all fluff and foofaroo. This is reminding me of the conversations back in the 80’s about how neat the world was gonna be when we become an information based economy——here’s a piece of information: Don’t bet the farm on the above report meaning anything positive for the long term.


59 posted on 07/05/2013 1:04:52 PM PDT by cherokee1 (skip the names---just kick the buttz)
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To: All

60 posted on 07/05/2013 4:32:55 PM PDT by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: EBH

“Yup...some of that is what this is, the full-time job splits from business coping with 0bamacare.”

Exactly. We’re hanging on by our fingertips at my company. No one, aside from the few full time people, is allowed more than 29 hours of work per week.

Scheduling is a total PITA and part time personnel are mad as hell.


61 posted on 07/05/2013 5:00:54 PM PDT by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: RugerMini14

Obama will be gone soon. Let’s call it what it really is:

DemCare or DemocratCare

Obama didn’t write this or pass it on his own. The entire Democratic Party was waiting for this, blew it at HilaryCare and it was reborn as Obamacare.

What do those two and the Senators and Congressmen who passed the ACA all have in common?


62 posted on 07/05/2013 8:13:54 PM PDT by 1010RD (First, Do No Harm)
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To: concerned about politics

422,000 jobs were “estimated” into existence in June via the Birth/Death Model.
Today, businesses are not replacing people who die or retire. They’re cutting back instead. These jobs do not exist.
This is how they come up with the numbers. They assume the number of people that “should” be hired in a booming economy and add that to the numbers, rather than count the real number actually hired.

These numbers mean nothing. Take away all the fictitious numbers, add those grossly underemployed or unemployed, and this country is in big, BIG trouble.

I think you have that exactly right. certainly where I work the pattern for years has been not to replace retirees. I work for a large defense contractor with so many people there are retirements everyday.
the problem is, in this Orwellian country we live in, the government and the media will be misrepresenting the actual facts, so it will seem to you few people have jobs, but they’ll keep reporting 7.6.


63 posted on 07/05/2013 10:10:08 PM PDT by willywill
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To: Wyatt's Torch
"Here is NFP and UE3 since 1980 (chart from FactSet)"

Would have liked to see participation rate on the graph. Nonfarm employment is distorted without inputs to labor.

64 posted on 07/05/2013 10:24:13 PM PDT by uncommonsense (Liberals see what they believe; Conservatives believe what they see.)
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To: PLMerite
Isn’t 200,000 considered the break-even point?"

Yes, estimates vary from about 125K to just over 250K.

See:

Unemployment in the United States

"During the 41 months from January 2010 to May 2013, there were 19 months where the unemployment rate declined. On average, 179,000 jobs were created in those months. The median job creation during those months was 166,000."

THE EMPLOYMENT SITUATION —JUNE 2013

Employment Situation Summary - June 2013

65 posted on 07/05/2013 10:47:44 PM PDT by uncommonsense (Liberals see what they believe; Conservatives believe what they see.)
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To: Perdogg
This nation can now add about 650,000 Dept of Defense workers to the "part time" ranks. They are being furloughed starting this week, and that is only the beginning. Massive layoffs will continue through 2014 and beyond as Sequestration decimates the Pentagon.

Initial hopes that the number of furlough days could be reduced have largely been dashed. Instead, talk is focused more on how to slash spending in 2014. The department can only force workers to take 22 furlough days per year, thus the need for possible layoffs.


66 posted on 07/06/2013 3:13:41 AM PDT by SkyPilot
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To: Perdogg

Iowahawk on this:

“Unemployment report in a nutshell: the Taco Bell that had 30 40 hour workers now has 40 30 hour workers.”


67 posted on 07/06/2013 3:15:57 AM PDT by FreedomPoster (Islam delenda est)
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To: TArcher

Well played. It’s only labeled 45-grams. It’s hollow.


68 posted on 07/06/2013 3:56:54 AM PDT by MaxMax (If you're not pissed off, you're not paying attention)
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To: upchuck
Let’s see... wasn’t that recession Bush’s fault?

How the Democrats Created the Financial Crisis: Kevin Hassett

69 posted on 07/06/2013 4:29:33 AM PDT by TwelveOfTwenty (Ho, ho, hey, hey, I'm BUYcotting Chick-Fil-A)
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To: uncommonsense

You can see the participation rate in the chart I posted in 41. I can add it to the FactSet chart you replied to but it won’t be until late next week when I get back to my office.

From the chart in 41 we have round tripped participation rate to where it was in the early 80’s. a lot of the decline is demographics but a lot is structural weakness. I think I posted here a tweet from AEI economist who sai using the Goldman Sachs participation model accounting for demographics that the unemployment rate is really 9.1%.


70 posted on 07/06/2013 5:21:14 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: Perdogg
Ya can't believe anything out of this regime. Their lil puppet media just loves a good story...and a story it is.

Everyone that is anyone knows America's in trouble. Am I better off than I wuz 5 years ago? Hell no.

71 posted on 07/06/2013 10:03:09 AM PDT by servantboy777
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To: Jim Noble

I hope they don’t count Federal, State, and local government employees as “employed”. A) They produce nothing, B) They consume what others produce. Every such employee should count twice as “unemployed”.

But, but...WHO WILL BUILD THE ROADS? *SMIRK* :)


72 posted on 07/06/2013 10:25:40 AM PDT by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: willywill

How about some numbers that get reported but don’t usually make the news, social security contributions. I know they are reported and I would think these numbers would say a lot about the level being reported this last quarter vs quarters in the past. Even taking into consideration pay raises, I bet the number is lower now than Bush years.


73 posted on 07/06/2013 11:34:38 AM PDT by Tspud1
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To: RugerMini14; Bob Ireland

They called these part-time jobs “summer jobs” when I was young. This economy is in a downward spiral because employment opportunities which were plentiful only 5-6 years ago are disappearing today.

People today cling to their jobs (if they are lucky enough to have a job) for dear life. That is unless you happen to work in Washington, DC; then, you are living in a boom-town with the taxpayers’ money as an unlimited financial resource. That is why our Federal government is the largest single employer in the world.

The Soviet Union had 100% employment because you belonged to and therefore worked for the state whether you wanted to or not.


74 posted on 07/06/2013 1:41:16 PM PDT by Q-ManRN (Progressivism is regressive!)
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To: Perdogg

We’re good. Obama can do his campaign thing around the world now. No worries.


75 posted on 07/06/2013 11:35:34 PM PDT by A Navy Vet (An Oath is Forever)
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To: wally_bert; All

What scared me to learn was what happen to the mainframe people after y2k..


76 posted on 07/07/2013 9:34:00 AM PDT by KevinDavis (Only losers like to win by losing.)
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To: OldGoatCPO; All

I’m afraid you are right...


77 posted on 07/07/2013 9:35:02 AM PDT by KevinDavis (Only losers like to win by losing.)
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To: PLMerite

Yes and they almost always revise downward.


78 posted on 07/07/2013 1:09:11 PM PDT by madameguinot
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