Posted on 06/03/2011 5:15:01 AM PDT by blam
Out Of Nowhere, The NFIB Just Sent Out This Warning: "Job Creation On Main Street Has Collapsed"
Joe Weisenthal
Jun. 3, 2011, 7:42 AM
Here's a pre-NFP shocker.
The NFIB -- the small business organization that regularly measures the pulse of small business economic activity -- just sent out a warning on the jobs situation (via @edwardnh).
It's awful.
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WASHINGTON, D.C., June 2, 2011 — Chief economist for the National Federation of Independent Business (NFIB) William C. Dunkelberg, issued the following statement on May job numbers, based on NFIB’s monthly economic survey that will be released on Tuesday, June 7, 2011. The survey was conducted in May and reflects 733 randomly-sampled small-business owner respondents:
“After solid job gains early in the year, progress has slowed to a trickle. The two NFIB indicators—job openings and hiring plans—that predict the unemployment rate both fell, suggesting that the rate itself will rise.
“May’s job numbers will disappoint; meaningful job creation on Main Street has collapsed.
“Twelve percent (seasonally adjusted) of small-business owners reported unfilled job openings (down 2 points). Further indications of minimal future growth include the fact that in the next three months, 13 percent plan to increase employment (down 3 points), and 8 percent plan to reduce their workforce (up 2 points). That yields a seasonally adjusted net negative 1 percent of owners planning to create new jobs, a 3 point loss from April.
“Overall, reports of job reductions have returned to historically normal levels. However, the percent of owners hiring has not recovered to levels historically observed after two years of expansion. With one in four owners still reporting ‘weak sales’ as their No. 1 business problem, there is little need to add employees, especially with the uncertainty about future labor costs arising from new regulation
(snip)
(Excerpt) Read more at businessinsider.com ...
Bush’s fault.
hopey changey,
looks like increasing the money supply isn't reversing the underlying deflationary pressures. told you so.
Just the usual wreckers and capitalist roaders.
“Our of nowhere” must be the new “unexpected.”
To be replaced next month by "Bolt From The Blue"...
It is horrifying what the fed has done to prop the job numbers up for political reasons and even more horrifying to see what the results of this unprecedented money-pringing binge. We are in BIG, BIG trouble.
Palins fault.
Between the lack of jobs and inflation, I can see a day in the near future where we’ll have our adult kids moving back in with us. They just can’t afford to live on their own anymore.
We have got to get rid of every vestige of ivy league and the democrat party. They are the enemy. Give no quarter and expect none. Even saying a prayer will get you jail time.
The job report will be a total lie. These numbers are political not real.
I guess we’ll just have to raise taxes.
The puzzle is that NFIB waited this long to say what was true in Obama’s first days.
Another factor that will continue to depress the housing market for YEARS, probably DECADES.
All those McMansions will become three-generation homes. Not bad from a social point of view, but wreaks hell on the housing market by increasing and maintaining inventory.
At the same time, fewer people are getting married and establishing families. So mini-storage becomes the permanant "garage" for storage boxes, etc., as people move from shack-up to shack-up. Fewer families forming, more houses remain vacant.
Add to all that that over the next decade the Boomers will start checking out in increasing numbers. Their kids won't want their houses and there will be no one to buy them. More houses, more inventory.
Etc.
Wow. This is so “unexpected.” /spit/sarc/hurl
Increasing the $$ supply was done to ensure the big banks wouldn’t fail. They haven’t lent that $$. Once the Stimulus sugar peters out, then the reality is that there are still no jobs and demand will get weaker. Many schools and Government offices were kept afloat by the Stimulus and are now laying people off
Reminds me of the news on the radio on 9-11:
The Twin Towers have collapsed........................
Bush set the table.
Obama served the meal.
The two are connected.
Bush’s socialism was the intro, and Obama is writing the next chapter.
DO NOT LET BUSH OFF THE HOOK ON THIS!!!
” The job report will be a total lie. These numbers are political not real. “
Yep...
http://www.freerepublic.com/focus/f-news/2729226/posts
” Job growth slows to 54,000 in May, rate up to 9.1%
Marketwatch ^ | 6.3.11 | Greg Robb “
If the ‘Official’ (i.e. massaged, ‘cooked’, and outright fraudulent) numbers are this bleak, the ‘Reality’ must be truly frightening....
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