Anyone know if all states are reporting? I heard something last night that New York and New Jersey numbers wouldn’t be incldued...can’t confirm.
How do you get an increase in non-farm hiring and a rise in the rate? Shouldn’t htey work inversely? I think need to turn off the TV until next Wednesday. Thanks for the post, though..
Market not liking the number
The report said that approximately 400,000 people starting looking for work this past month. Under the stupid BLS formula, the more people that are looking for work and do not find work, the more unemployment.
That’s why Rush has been saying that the only way to manufacture a decrease in unemployment is to shrink the universe of people looking for a job. It worked in the inverse this month.
The U rate went up because the labor force grew so more people were looking for work.
To keep the rate steady we have to grow at a 3% rate according to history.
This job growth is way too low to bring the 23+ million without full time work back. Even 200,000 per month would take TEN years to get back to 2007.