Posted on 03/07/2014 5:50:10 AM PST by John W
The Bureau of Labor Statistics says 175,000 workers were added to nonfarm payrolls in December, well above Wall Street’s consensus estimate of 149,000.
162,000 of those hires were to private payrolls, above expectations for a 145,000 rise in the ranks of private-sector workers.
The unemployment rate unexpectedly rose to 6.7% from 6.6%. Labor force participation was unchanged at 63.0%.
610,000 were unable to work due to inclement weather in February, above the historical February average of 317,000.
(Excerpt) Read more at businessinsider.com.au ...
I get nervous when our Fedgov bankers speak so blasely about printing gazillions of dollars backed by little more than our reserve currency status.
Rather soon, that status will no longer hold true, imho.
Thanks for the good news in hidden in the “unexpected” bad news.
“Largest Law Firm (IIRC) in United States goes Bankrupt. Law Firm under investigation for fraud. 3,000+ attorneys (IIRC). Comparisons to Enron being leveled by media against Law Firm. Wonder what the real story is and why does the real story always make its way out through an opinion, a non opinion or additional fraud which one could call complacency known as a media?”
This might even be better news than when a left wing fish wrap is facing bankruptcy.
Although it came with inflated playing times. Had a couple of 5 hour rounds.
Of course not. And neither is BLS’s. December and January were both revised up.
Dave, I left out the most important part. The fraud being leveled at the law firm is one of cooking the books or better known as creative accounting. Of course creative accounting never ever happens anywhere .... especially not in government. Ever tried to arrest a government?
I will say it seems to have been used more the past five years than I can recall in the past. But, maybe our experts are just getting worse.
They’re probably including people that are off the books.
What would that chart look like without $1 Trillion per year printed by the Fed?????
Unemployment is the problem right now. UNDEREMPLOYMENT is.
And just how bad that has become is anyone’s guess. If I had to shoot darts, I’d say in-the-crapper bad.
Well I’ll disagree on the QE as I think it has worked and has merely offset the fiscal side of the house. I do believe that the economy would be much worse without QE. We’ve been in a liquidity crunch for 5 years now (take a look at the velocity charts) and the QE has helped stave off a deflationary cycle which would be far far worse than inflation.
It would be far worse.
The current situation is the red line and we are around 74 months.
Then i could write a book and open great wine instead of beer ;-)
That’s odd... I just heard private payrolls dropped.
Twist of words maybe, not as bad as they thought would be?
Right. Most people don’t know how or why monetary policy works. That’s evident by the “printing money is inflation” comments.
No way is Obama going to turn this around with a labor force participation rate of 63.0%.
The 6.4% unemployment rate for HS diploma, no college tells me that it's okay for a responsible person with motivation, intelligence and direction, and a good work ethic to skip college with all of its debt. You have to figure that at least 20% of the students who have HS diplomas are total inepts. With that 6.9% number, even most of the inepts are finding work.
“Markets Mixed as Jobs Report Rally Dies”
What happened?
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