Posted on 05/03/2013 5:37:30 AM PDT by Perdogg
Following the March NFP disappointment, it was only reasonable to expect a modest beat in this month's data which came at +165,000, on expectations of +140,000, and also following a revision to the March number from 88K to 138K. The unemployment rate declined from 7.6% to 7.5% beating, expectations of an unchanged print. The flipside, as always, is that the labor participation rate remained flat, at 63.3%, once again the lowest since 1979.
(Excerpt) Read more at zerohedge.com ...
New record highs.
A LOT of money to be made in the market under Obama. He is a terrible president, but he and Bernanke have been great for the market.
I feel sorry for all the hopeless bears and gold bugs who read sites like ZeroHedge and believe the market is about to collapse.
Yes, our economy sucks and is a house of cards - but that doesn't mean one can't make a lot of money if they take advantage of the current situation.
One of the reasons even though I am desperate to get out of the West Texas desert I am staying put.
It is one of the few places in the country doing well thanks to the oil boom. Lowest unemployment in the country, rapid growth, restaurants having to start at 11 bucks an hour since they can’t keep workers who can easily go to the oil field and make a lot more.
Been like this for at least two years.
I want to go to east Texas or back home to Kansas where they have seasons, or at least green grass, rain and trees and you aren’t five hours from a major city.
But, my wife and I are too blessed to leave (she has an incredible job helping other non-profits being successful through a program of a foundation she works for), and it would be completely be foolish to leave. The people are good here, too.
If people want work, come here. But, they better come fast before they can’t afford to buy a house here.....it’s getting rapidly to that point as there are not near enough homes to go around.
The Ministry of Propaganda has spoken.
Both February and March were both revised upward:
February revised +268,000 to +332,000, March was revised from +88,000 to +138,000.
rwfromkansas
If you have a stable job and income , friends, and good neighbors , there is no reason to leave and go into the unknown.
Perhaps your family will overlook the brown grass , lack of trees and rain , and they may want to relocate to your area.
Be patient my friend , especially in times of turmoil .
Participation rate flat, yet unemployment down? How can there be more people unemployed yet the rate go down? Cooking the books as Zero always does.
If you’re going to cook the books, might as well go all out.
I have decided basically I am going to try to start a garden this year and plant something and put in a cheap water feature and misting system to my wife can be outside (she has a heat allergy so the 100-degree temps every day in summer are not something she can be out in). Gardening is tough here due to the caliche.....hard as rock dirt below the surface....but raised beds do well. Thanks to a new water pipeline, we won’t be in water restrictions this summer, so I can water as much as needed also.
Frankly, having an oasis in the back yard would make it okay. We do enjoy it here other than the scenery and weather, so we can’t complain really. I guess after four years, I just am going through a homesick phase. But, God has blessed us tremendously to be here in a time when the economy is doing so poorly everywhere else.
I doubt it, after all in a couple of months it will be old news, ala Benghazi. And by then unemployment will be at 7%, economy will be first class, no problems with housing, jobs, wages, immigrants, healthcare, poverty, etc., etc., etc.
1979. Man do I remember those Jimmy Carter days.
You’re better than that...even for a Gator....;-)
There is no doubt that the job market is significantly better that it was in 2008-09. Is it “great”? No. Job growth around 160K is not strong. But claims are well below normal and the economy is growing, albeit slowly. These numbers fit a 1.5%-2.0% growth market.
How are there more unemployed? The +165K is the net of additions and subtractions. From the BLS release:
The unemployment rate, at 7.5 percent, changed little in April but has declined by 0.4 percentage point since January. The number of unemployed persons, at 11.7 million, was also little changed over the month; however, unemployment has decreased by 673,000 since January.
Some of the libs I work with are now shocked that they are part-timers.
I suppose they voted for some extra time at home...unpaid!
Job participation rate didn’t change.
“I feel sorry for all the hopeless bears and gold bugs who read sites like ZeroHedge and believe the market is about to collapse.”
Unfortunately, Longbow, you can get out your violin for me. because I am one of those bears you are referring to, I’m sorry to say. Although I was never a ‘gold bug’, at least not by the conventional definition.
I only glance at the weekly and monthly economic reports now, leaving the ‘analysis’ to someone else. Nothing seems to matter except those 85 extra billions from the Fed.
Hopefully there’s still time for me to change my ways...
Jobs Breakdown By Age And Gender, Or No Country For Prime-Aged, Male Workers
"Here we notice that just like in prior months, a key part of the growth was attributable to those aged in the 55 and over group, which added 79K workers, although a surprising change was the massive addition of some 187K workers in the lowest paid, 20-24 age group - the biggest monthly jump in this category since September."
"But perhaps the most curious development in the April jobs report is the gender breakdown: of the 293,000 jobs added per the Household Survey, women workers (aged 16 and older) accounted for ... 384K? Men - sorry. 90K males lost jobs in April."
So we are supposed to believe there was massive hiring of of people aged 20-24 and women.
This, just after one of the worst ADP payroll reports, and numerous other negative reports.
This jobs report seems fishy.
Right....which is why UE rate went down. Numerator decreased while denominator remained the same.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.