Posted on 06/07/2013 5:35:47 AM PDT by John W
Isaiah 5:20 leaps to mind. Not even shame in making their nonsense transparent anymore.
Yeah. Now they're getting desperate. Their unemployment ran out. The big lie is coming to an end.
The printing of monopoly money can't go on forever. (There is no economic recovery.)
I would be concerned that their benefits have been reduced or expired therefore they are back looking out of desperation. 175,000 jobs added in a month just doesn’t seem like an indication of a boon that would encourage many to look.
That was just a light disagreement between lovers. The "media" will never decouple their collective head from Obama's backside.
But, but, but, ABC News is reporting this is “good but not great”!!!
The numbers mean nothing, its all manipulated by design.
If you just include the months of positive job growth since 1939, the average is +217K. the +175 is 81% of that average. The median is +204K. I’ve said countless times here that this recovery is weak (just look at the Calculated Risk last chart I posted). But there is a recovery. It certainly could be better though.
These are seasonally adjusted numbers to account for things like this. Common statistical technique.
If the economy adds about 208,000 jobs per month, which was the average monthly rate for the best year of job creation in the 2000s, then it will take until April 2020 to close the jobs gap. Given a more optimistic rate of 321,000 jobs per month, which was the average monthly rate of the best year of job creation in the 1990s, the economy will reach pre-recession employment levels by December 2016.
Adding 175,000 jobs a month is not even keeping up with population growth.
Mostly Temp & Part time I'm sure.
All these numbers are manipulated as much as possible. Who they count or not count, what they consider a job or fulltime employment, who they count as looking for work, etc.
The remains that few people today have fulltime employment than when Zero took office and the numbers look worse every day.
Obama .. Laser focus .. Incompetence .. a run of ‘bad luck’ .. or just a ‘liar’?
There is no right answer.
great choice, Dependent Entitled America.
The unemployment rate is at least 15%. The underemployment rate is probably 20-25%.
In the best-case scenario, Ronald Reagan rises from the dead and becomes the president in 2016, and the economy recovers in 2018.
Thank you, libidiots and low-info voters, for a 10 year recession. At best.
Where is my barf bag.
Now its good news when it goes up...
Yes, also in this way as reported by CNBC-—
Stocks added to their gains across the board Friday as the government’s monthly employment report suggested the economy was tepid enough for the Federal Reserve to maintain its bond-buying program in the coming months.
Amazing.
Some high profile names Q1 misses on revenue:
Target - “Sales rose 1 percent to $16.7 billion, trailing the $16.8 billion average estimate.”
Dell - Revenue down 2% YTY for Q1.
Intel - “Intel’s semiconductor sales in the first quarter were US$11.56 billion, a 3 percent drop from the $11.87 billion in the first quarter of 2012.”
HP (note - HP’s fiscal is offset from calendar): “Hewlett-Packard Co.’s (HPQ) fiscal second-quarter earnings slipped 32% as the technology company recorded revenue declines across its segments, though core profits beat its expectations.” (Classic headlining profits over revenue drop!).
IBM - “Total revenues of $23.4 billion were also below the Zacks Consensus Estimate of $24.5 billion.” Note that IBM revenue was $24.7B for Q1 2012. So revenue missed estimate and was over $1B lower in Q1 2013 than Q1 2012.
Sears - “Revenue fell 9 percent to $8.45 billion, missing the $8.74 billion forecast by Thomson Reuters analysts.”
Walmart - “Sales rose 1 percent to $113.43 billion. That figure excludes Sam’s Club membership fees. The results fell short of Wall Street expectations for earnings of $1.15 per share on (estimated - my add) revenue of $115.78 billion. Wal-Mart reported a 1.4 percent drop in revenue at stores open at least a year at its namesake business, its first drop in a year and a half.” Though sales were up (barely) they missed target by over $2B!
GM - “Net revenue in the first quarter of 2013 was $36.9 billion, compared to $37.8 billion in the first quarter of 2012.” Down YTY by almost a $1B.
Lexmark - “Revenues declined 10.9% year over year......On the other hand, Lexmark showed strength in keeping its operating cost down [note - when revenues are down - highlight the gross profit - which means lower cost and reduction in workforce].....Guidance for the second quarter and fiscal 2013 was not encouraging”
Dow Corning - “Dow Corning Corp. recently reported its financial performance for the first quarter of 2013. The company reported sales of $1.26 billion and net income of $62.1 million for the first quarter of 2013. Sales and adjusted net income were down 17% and 6%, respectively, compared to 2012.”
Some of these are small (Target). But most are large. GM and IBM miss by $1B each! HP is down ‘across all segments’ of its business!
Walmart misses by over $2B!
How did they hide it? With good profits. How to you get good profits with declining revenue? Reduce your cost aggressively. How do you reduce cost aggressively in the short term? Do not hire or layoff!
The misses in top line revenue were horrible in 1Q. That is not good for a ‘recovering’ economy.
There are liars... there are damned liars... and the there is the US Government... they are such huge liars that they reside in a league all by themselves.
LLS
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