Home › Forums › Financial Markets/Economics › OT: September 2012 Jobs Report “Very Suspicious”
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an.
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November 3, 2012 at 8:46 AM #753666March 10, 2013 at 9:17 PM #760536
utcsox
ParticipantFrom BLS,
“Total nonfarm payroll employment increased by 236,000 in February, and the unemployment rate edged down to 7.7 percent..”
Where you at job-truthers? 236,000 jobs created and unemployment rate down. 60k+ more jobs created compared to the October number. Where is the outrage?
March 10, 2013 at 11:09 PM #760537spdrun
ParticipantParticipation still at 10-year lows (63.5%). Jan and Feb reports revised down.
March 11, 2013 at 7:09 AM #760538SD Realtor
ParticipantAs I have always said, statistics can be presented in any manner needed to make things seem okay. You are told inflation has been tame to non existent for the past few years yet if you look at the price of food year over year it has gone up substantially. How about the number of people underemployed? How about the number of people who have given up working altogether? I am not saying the economy is not improving because it is. However I just do not gulp down whatever the govt tells me and smile and say yep everything is great!
March 11, 2013 at 9:00 AM #760541earlyretirement
Participant[quote=SD Realtor]As I have always said, statistics can be presented in any manner needed to make things seem okay. You are told inflation has been tame to non existent for the past few years yet if you look at the price of food year over year it has gone up substantially. How about the number of people underemployed? How about the number of people who have given up working altogether? I am not saying the economy is not improving because it is. However I just do not gulp down whatever the govt tells me and smile and say yep everything is great![/quote]
EXACTLY. NO doubt the economy is improving and employment numbers are getting better but governments are always able to manipulate numbers the way they want them to come out.
The USA is much better about it vs. other countries. It’s comical in other countries like Argentina where the government says true inflation is 9% a year even though it’s really more like 25% to 30% a year. And when economists put out their own numbers, the president has them threatened to get fined and arrested.
March 11, 2013 at 9:59 PM #760563paramount
ParticipantEven Mish Shedlock felt the Feb 2013 unemployment report was decent.
Listen and Learn, this guy is sharp:
You Do Not Have Free Enterprise – McCarthy
March 12, 2013 at 8:39 PM #760597skerzz
ParticipantMy gut tells me there was political pressure to paint the February job numbers in the most favorable light; when the March numbers disappoint, the party on the left will blame fiscal conservatives and their failure act/reach agreement on the sequestration.
February 6, 2015 at 9:25 AM #782685ParticipantIf September 2012 Jobs Report “Very Suspicious”, what do you say about January 2015 Report?
- http://www.bls.gov/news.release/empsit.nr0.htm
Total nonfarm payroll employment rose by 257,000 in January.
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The change in total nonfarm payroll employment for November was revised from +353,000 to +423,000, and the change for December was revised from +252,000 to +329,000.
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After accounting for the annual adjustments to the population controls, the civilian labor force rose by 703,000 in January. The labor force participation rate rose by 0.2 percentage point to 62.9 percent .752k jobs created in two months: November and December. The unemployment rate actually ticks up from 5.6% to 5.7%. BLS must be faking its number again!! LOL
February 6, 2015 at 9:41 AM #782686The-Shoveler
ParticipantDon’t know about the whole thing but in L.A. things are definitely starting to percolate (traffic is absolutely crazy right now, that has always been the best indicator from past experiences).
SD seems a bit slow yet in comparison (well in feeling it anyway).
IMO anyway.There are new Tesla’s BMW’s and MB’s everywhere.
February 6, 2015 at 2:36 PM #782695ParticipantWonder how many people are borrowing up to the forehead to buy those things. I suspect that 90% of the people you see are just doing a good job in pretending…
February 6, 2015 at 3:22 PM #782697poorgradstudent
ParticipantLooks like unemployment is finally starting to catch up in what has been a largely jobless recovery.
Of course, since employment is often a lagging indicator, this probably means we’re coming to the end of the cycle. So all your permabear piggs will probably be right in the next year or two.
February 6, 2015 at 9:54 PM #782714SK in CV
Participant[quote=poorgradstudent]Looks like unemployment is finally starting to catch up in what has been a largely jobless recovery.
[/quote]
Largely jobless? Something like 12 million private sector jobs in the last 5 years, and more than 5.5 million in the last 2 years is jobless?
February 7, 2015 at 1:07 AM #782717CA renter
Participant[quote=SK in CV][quote=poorgradstudent]Looks like unemployment is finally starting to catch up in what has been a largely jobless recovery.
[/quote]
Largely jobless? Something like 12 million private sector jobs in the last 5 years, and more than 5.5 million in the last 2 years is jobless?[/quote]
But most of those new jobs are in lower-paying sectors than the ones that disappeared during the recession. It probably feels pretty “jobless” when people are making around half of what they were making just a few years ago. We know a few people who are literally making that much less!
February 7, 2015 at 9:18 AM #782727Participant[quote=CA renter][quote=SK in CV][quote=poorgradstudent]Looks like unemployment is finally starting to catch up in what has been a largely jobless recovery.
[/quote]
Largely jobless? Something like 12 million private sector jobs in the last 5 years, and more than 5.5 million in the last 2 years is jobless?[/quote]
But most of those new jobs are in lower-paying sectors than the ones that disappeared during the recession. It probably feels pretty “jobless” when people are making around half of what they were making just a few years ago. We know a few people who are literally making that much less![/quote]
From the from the BLS: “In January, average hourly earnings for all employees on private nonfarm payrolls increased by 12 cents to $24.75, following a decrease of 5 cents in December. Over the year, average hourly earnings have risen by 2.2 percent.” With CPI that is under 2%, there has been some real wage growth.
Persons working part time for economic reasons and long term unemployed (> 26 weeks) are still much higher than historical data. However; they are both trending down rapidly. We might see some real wage growth in 2015 if the recovery continue.
February 7, 2015 at 10:41 PM #782741
svelteParticipant[quote=paramount]Labor Secretary Hilda Solis is under increasing fire today concerning the suspicious September jobs report showing that unemployment fell from 8.1 percent to 7.8 percent — the largest drop in 30 years.
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Market analyst Karl Denninger provides the statistics that make the government’s claims today not only suspicious but ludicrous.
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In short, the figures do not add up.
[/quote]I’m glad someone brought this thread up again.
Time to revisit.
What do you think now, Mr. Paramount???
[img_assist|nid=20555|title=Unemployment 1994-2014|desc=|link=node|align=left|width=637|height=414]
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