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Suddenly, a Sharp Deterioration in the Job Market
ZeroHedge ^ | 2/18/12 | Wolf Richter

Posted on 02/19/2012 4:58:37 PM PST by Kartographer

Over the years, the Philly Fed employment index has shown a strong correlation with the BLS jobs report, and Ablin estimated that based on it, only 50,000 new jobs were created, a far cry from the 243,000 in January—fictual or not. This and the nasty mid-month unemployment number from Gallup revive an odd idea: has the ECRI’s much ridiculed recession call been right all along?

Unless the BLS can figure out how to statistically adjust its next set of data and estimates to relegate any negative elements to blissful oblivion, there will be disappointment. And it will slam into lofty expectations—which may cause the stock market to, well, spike because, in these crazy times of ours, QE3 with all its wondrous, illusory, and ineffectual magic will suddenly reappear on the table.

(Excerpt) Read more at zerohedge.com ...


TOPICS: Business/Economy; Government; Society
KEYWORDS:
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To: donmeaker
Similar suggestions in this data:

Trouble ahead.


21 posted on 02/19/2012 6:06:08 PM PST by nascarnation (DEFEAT BARAQ 2012 DEPORT BARAQ 2013)
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To: Revolting cat!
I saw a story on another blog of blacks in Iowa complaining that they are not getting jobs because of racism. No surprise there; but, they gave the guy's name, and then his age - 60.

I'm pretty sure it was more of a case of "ageism" than "racism".

22 posted on 02/19/2012 6:08:48 PM PST by LibertarianLiz
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To: Revolting cat!
Everyone wants a Ph.D trained by someone else and working for twice the minimum wage.

Ph.D...Piling it Higher and Deeper.
23 posted on 02/19/2012 6:18:27 PM PST by Signalman
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To: skeeter

Probably the way to go. I’m impressed that you and your wife took the initiative rather than sitting around waiting. Best of luck in your business.


24 posted on 02/19/2012 6:27:22 PM PST by RetiredTexasVet (There's a pill for just about everything ... except stupid!)
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To: skeeter

Congratulations!

We need exactly this to turn the country around.

We did the same thing eight years ago, never looked back and no one owns us!


25 posted on 02/19/2012 6:29:31 PM PST by quantim (Victory is not relative, it is absolute.)
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To: steve86

Or maybe Fictional?


26 posted on 02/19/2012 6:42:31 PM PST by cornfedcowboy (Trust in God, but empty the clip.)
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To: steve86

Fictual reality!


27 posted on 02/19/2012 6:46:44 PM PST by Revolting cat! (Let us prey!)
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To: the invisib1e hand
This is a typo, right? Or did he really mean it?

http://ask.metafilter.com/38383/The-true-meaning-of-fictual

Includes a comment by U.S.S. Clueless blogger Steven Den Beste.

28 posted on 02/19/2012 7:06:18 PM PST by TChad
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To: Kartographer

The 0bama regime has developed a method of calculating the number of unemployed - if a group becomes, or remains, unemployed, quit counting them! That way Hussein and his hooligans can show improvement without a single new job being created.


29 posted on 02/19/2012 7:14:12 PM PST by The Sons of Liberty (Psalm 109:8 Let his days be few and let another take his office. - Mene, Mene, Tekel, Upharsin)
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30 posted on 02/19/2012 8:00:40 PM PST by RedMDer (Forward With Confidence!)
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To: Kartographer

Does zerohedge ever report on any positive economic news???


31 posted on 02/19/2012 9:04:44 PM PST by RushingWater (Let's have a brokered convention and page Sarah Palin)
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To: RushingWater

Well not that I know of since Bammy was elected.


32 posted on 02/19/2012 9:12:00 PM PST by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
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To: driftdiver
Besides, why should I pay more than the market rate?

You filthy, greedy Capitalist. /sarc

I've seen a boatload of folks pad their resumes with skills they didn't have, but it's getting really bad when they demonstrate lack of skill-sets and still expect to get hired. Possibly a consequence of the entitlement generation, but just as likely the result of so few jobs available in this "booming" economic recovery. Good luck.

33 posted on 02/20/2012 4:04:07 AM PST by trebb ("If a man will not work, he should not eat" From 2 Thes 3)
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