Jobs report

[Grand Vol]

If that chart is accurate then we should soon be in another Great Depression. We'll see. I've heard we may very well have another major financial crisis in the coming decades or two with student loan debt. Should be fun.

I think the student loan debt will only be part of it.

 

[Sandvol]

If that chart is accurate then we should soon be in another Great Depression. We'll see. I've heard we may very well have another major financial crisis in the coming decades or two with student loan debt. Should be fun.

If you go to shadowstats.com you can uncover John Williams' methods. You can even ask him questions and he is typically happy to answer. I've never but some internet friends of mine did a few years ago and they said he is brilliant to put it mildly.

 

[Sandvol]

I think the student loan debt will only be part of it.

Student loans, auto loans, machinery loans, home equity and mortgages again. They're flipping houses again and it didn't really stop. There was only a partial cleansing last time. This next time it will be a monster.

 

[McDad]

Bring on the good news and laissez le bon temps rouler.

Hope the numbers aren't revised downward in the next month or so. Just saw that happen last week with the rate of growth stat.

 

[Orange_Crush]

Must read: Unemployment drops to 0% as last worker leaves labor force

President Obama today became the first to achieve a milestone coveted by enlightened central planners everywhere, as the Bureau of Laborious Statistics announced the much-followed meaningless headline: "U3 unemployment rate for last month was ZERO PERCENT," which clearly implies that the glorious economic recovery he engineered after the disastrous Bush years has now resulted in full employment.

It appears that Professor Obama succeeded in finding the Holy Grail, which eluded history's greatest economic thinkers like Lenin, Stalin and Mao. This landmark achievement, along with his establishment of free healthcare for everyone via the Affordable Care Act, cements his reputation as the Greatest Leader in this or any other universe for all time.

The dramatic moment occurred at 12:03 PM, four weeks to the day after Lyman Yilk, a pipe-fitter from Bittcling, Pa, finally gave up looking for work.

Mr. Yilk has been unemployed since 2005, but was on a celebratory bender since the day after Mr. Obama's first election and failed to notice that the Keystone Pipeline (which Mr. Yilk was hoping to find work on) had been cancelled due to environmental concerns. When he finally sobered up four weeks ago and learned the project was dead, he abandoned his search to find a job.

Mr. Yilk was the last worker to leave the labor force and turned the lights out as he left.

According to the Bureau of Laborious Statistics, "Official unemployment rate (U3) per the ILO definition occurs when people are without jobs and they have actively looked for work within the past four weeks."

Without Mr. Yilk, there was no one actively looking for work any longer, hence the U3 rate was now zero percent, praise Obama!

Naysayers were quick to note that the labor force participation rate had also dropped to zero percent, which, according to them, was not a good thing as it meant no one was employed. Rep. Nancy Pelosi brilliantly countered their racist, straw-man argument by observing that it also meant no comrade was any longer "job-locked" and each was free to be an artist, writer, or hooker, pursuing their passion.

"There is no underestimating this tremendous achievement of Barack Obama," said Paul Klugeman, an expert on hiding declines and fudging economic statistics, as well as on being the self-proclaimed "Conscious Liberal."

"Comrade Obama has achieved the socialist dream of freeing all of The People™ from the slavery of work and permitting them to live off someone else's dime - as God, if he existed, would've wanted."

When asked if he was concerned that since no one was working, there would also be no one to pay for the benefits to all the non-workers, Dr. Klugeman responded: "Nonsense! The Fed will simply print money for artists, writers, and hookers so they can buy goods coming from China. What could go wrong?"

"The genius of Dear Leader Barack Obama lies in its simplicity," Dr. Klugeman added.

Now that he has made it look so simple, it's a wonder no one ever thought of it sooner. - See more at: Unemployment drops to 0% as last worker leaves labor force

 

[Sandvol]

Must read: Unemployment drops to 0% as last worker leaves labor force

That's clever.

 

[tennvols77]

Your track record for jumping the gun and jumping on the wagon is just simply, the touch of death. We'll wait a month or so and wait for the real numbers to come.

 

[volinbham]

This is a good jobs report.

As for the overall economy, Q2 is likely to be good GDP-wise but even a 3% gets us to 0% for the year.

As for the "coiled spring"; other indicators (manufacturing, time frame of accounts payable, etc) are not trending in the right direction.

Will be interesting to see what Q3 and Q4 look like.

 

[Velo Vol]

2014 is on pace to be the best year for growth in both total nonfarm and private sector employment since 1999.

Bad news for the haters.

 

[Sandvol]

2014 is on pace to be the best year for growth in both total nonfarm and private sector employment since 1999.

Bad news for the haters.

Not true. There is no growth. Another indicator I didn't mention of the debt problem is the extremely low yield in junk debt.

 

[AirVol]

Jobs report is bogus like the past ones. How's those gas prices BTW. $1.83/gal when ZERO took office and have doubled since then?

 

[volinbham]

2014 is on pace to be the best year for growth in both total nonfarm and private sector employment since 1999.

Bad news for the haters.

# of total hires?

Is that the right metric?

Wonder what it is relative to size of working eligible population?

Probably on pace for continued worse post-recession recovery GDP growth as well.

 

[volprof]

Jobs report is bogus like the past ones. How's those gas prices BTW. $1.83/gal when ZERO took office and have doubled since then?

Someone correct me if I'm wrong, but I don't think particular US presidents (any of them) have much to do with real gas prices at the pump or across national/world markets.

 

[TheDeeble]

If that chart is accurate then we should soon be in another Great Depression. We'll see. I've heard we may very well have another major financial crisis in the coming decades or two with student loan debt. Should be fun.

When interest on the national debt alone is taking up a massive part of your budget.....yea that'll happen eventually.

 

[MG1968]

Someone correct me if I'm wrong, but I don't think particular US presidents (any of them) have much to do with real gas prices at the pump or across national/world markets.

Post-Katrina, Bush directed the EPA to suspend the regional blend mandate and gas prices dropped like a stone.

So yes, a president can have a lot to do with gas prices. Obviously he isn't going to extract or refine oil, but he can lift moratoriums on drilling, sign on to Keystone, and so on.

 

[volinbham]

Someone correct me if I'm wrong, but I don't think particular US presidents (any of them) have much to do with real gas prices at the pump or across national/world markets.

tangentially at best assuming they have policy that directly impacts oil supply or refining capacity/costs but in general the answer is no.

 

[37L1]

Think the economy is improving and that it's a coiled spring? Stop the FED from pumping money into the system every month and then get back to me on that "coiled spring."

 

[Velo Vol]

# of total hires?

Is that the right metric?

Wonder what it is relative to size of working eligible population?

Probably on pace for continued worse post-recession recovery GDP growth as well.

Pretty much in line with where things were a decade ago.

 

[Velo Vol]

Jobs report is bogus like the past ones. How's those gas prices BTW. $1.83/gal when ZERO took office and have doubled since then?

OK, if you want to compare conditions the day Obama took office to now, how about the 800,000 jobs that were lost that month compared to now?

 

[volprof]

Post-Katrina, Bush directed the EPA to suspend the regional blend mandate and gas prices dropped like a stone.

So yes, a president can have a lot to do with gas prices. Obviously he isn't going to extract or refine oil, but he can lift moratoriums on drilling, sign on to Keystone, and so on.

tangentially at best assuming they have policy that directly impacts oil supply or refining capacity/costs but in general the answer is no.

So, in other words, we just solved nothing.

 

[MG1968]

OK, if you want to compare conditions the day Obama took office to now, how about the 800,000 jobs that were lost that month compared to now?

How about the 92 million who are now officially out of the work force?

 

[Kingston Vol]

How about the 92 million who are now officially out of the work force?

How does one *officially* get out of the work force? Serious question.

 

[Orange_Crush]

How does one *officially* get out of the work force? Serious question.

If you give up and stop trying to find a job for 4 weeks, you are taken out of the statistics, which is what several of us here have alluded to in the statistics. They are not reporting the # of Americans that are unemployed. They have designed the statistics to not take into account the people who are long-term unemployed and have given up. A look at those numbers gives a better indication of Obama's turnaround.

 

[DC_Vol]

How does one *officially* get out of the work force? Serious question.

I believe it's as simple as telling the census worker you are not employed and no longer searching for work? But not 100% sure.

 

[MG1968]

I believe it's as simple as telling the census worker you are not employed and no longer searching for work? But not 100% sure.

you are also no longer receiving unemployment compensation