Birth/Death Adjustment+ 206,000!

Tyler Durden's picture

Take away the Birth/Death adjustment of 206,000 and the Real NFP is: -150,000. This is the biggest monthly B/D adjustment in over a year. And if as all the pundits claimed last month, demanding the McDonalds addition of 62,000 janitorial, part-time jobs be added to the May number, the economy really lost over 200,000 in May. Time to price in QE 666.

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oogs66's picture

ugly every which way you look at it...unless you are markk zandi

bigdumbnugly's picture

roseanne barr in a thong ugly...

mark zandi would probably see some way to get a boner over that, too.

Conrad Murray's picture

Mark Zandi, how much money does it take to have no shame over gobbling up your master's peckersauce on national TV? Does Barack Hussein Obama make you say "OH YESSA MASSA!" when he's plundering your guts? Ever have LIESman in the mix? QE reacharounds?

oogs66's picture

and why does anyone really care what an economist from moody's says?  they suck bad enough at rating things which is their job, why would we care what their economist says when that has nothing to do with their business!

solgundy's picture

When are you people going to stop peeking behind the curtains?.........................

Quinvarius's picture

They are starting to talk really fast on CNBC.

THE DORK OF CORK's picture

Was Grandpa Greenspan on CNBC this morning ?


Cognitive Dissonance's picture

He was. It always amazes me how much his speech and thought process cleared up considerably once he left the Fed.

Problem Is's picture

That is like saying a plumber has less butt crack after retiring...

smlbizman's picture

that wasn't greenspan that was woody allen

THE DORK OF CORK's picture

The early years............

this profound experience motivated the young Greenspan to change the conservative ethos of our banking industry.

and the very early years...............



Problem Is's picture

"Was Grandpa Greenspan on CNBC this morning ?"

Crazy Chester Greenspan aka Bubble Boy at (1:48)...

JLee2027's picture

How many times can you say "unexpectedly" with a straight face?

Use of Weapons's picture

unannounced, unheralded, unpredictedunanticipated, unforeseen, unlooked-for, out of the blue (predicate), unhoped, unhoped-for, unthought, unthought-of, unprovided for (predicate), upset (prenominal)


Repetition, repetition, repetition is the key to rote learning.

Badabing's picture

BLS bolderdash

Urban Redneck's picture

BLS really believes in "Recovery Summer" bullshit.

Mining & Logging 2,000              
Construction 35,000              
Manufacturing 6,000              
Trade, Transportation, & Utilities 25,000              
Information 4,000              
Financial Activities 7,000              
Professional & Business Services 26,000              
Education & Health Services 18,000              
Leisure & Hospitality 75,000              
Other Services 8,000              
Total Nonfarm Birth/Death Adjustment 206,000

oogs66's picture

the only real number here is the mcdonald's hiring spree

Atomizer's picture

Liesman: Well, its better than expected.

firstdivision's picture

DSK and Schwarzenegger need a vasectomy

mmlevine's picture

What makes no sense to me is why the government is giving up now?  After manipulating the numbers and markets for years, why fuck it all up now?

FunkyMonkeyBoy's picture

...'cause the churning to the suckers has finished?

mmlevine's picture

I am the one sucker who held out until about 2 weeks ago. Serious. Fade me please and make some money.

Dr. No's picture

You have to assume the big banks are positioned to profit and it will all make sense.  The FED and Treasury have been shaking things down for the past 3 years so the big banks could unwind.  Since the music seems to be slowing down, it is a signal the banks are finally hedged.

mmlevine's picture

The big boys have been posting huge profits for 6 quaters. Stopping all the bullshit now, 6 quarters can go poof in one.

hedgeless_horseman's picture

At year's end, which portfolio has the better return?  The answer may surprise you. 


Portfolio A

Q1 +7%

Q2 +7%

Q3 +7%

Q4 +7%


Portfolio B

Q1 +15%

Q2 +15%

Q3 +15%

Q4 (-15%)


Scroll down for answer...
















It is portfolio A.

TheTmfreak's picture

Its pretty simple to explain.

If it were possible to "get away" with all of this manipulation with their "cleverness" then they would and we wouldn't even be having this discussion.

Since we see that it isn't always possible to get away with it (these guys aren't gods, or even really that smart) you're eventually going to see the shit for what it is.


Silver Dreamer's picture

The turnip cannot be squeezed anymore.  The looting is complete?

MachoMan's picture

The looting is never complete.  I'll chalk this up as routine maintenance of the manipulation mechanisms...  we'll know in a couple months.

A Man without Qualities's picture

why the government is giving up now?

i) The impact of event in Japan cannot be disguised

ii) Washington wants more QE and Bernanke said things need to get really bad

iii) Message to Repubs not to fuck around and agree the debt ceiling hike

iv) They want the economy to worsen now, so they can make it look like it's improving for the elections next year

v) They've just given up hope, no point trying to continue the farce...


narapoiddyslexia's picture

My small experience tells me that almost everything that puzzles me about human behavior and motivation can be explained by simple incompetence.

overmedicatedundersexed's picture

simple incompetence does not explain TARP, NAFTA, free trade, and mega bank bail outs..the truth is  the simple answer: it's a plan and your world view is not in it.

Racer's picture

206K imaginary jobs? WTF!

Blythes Master's picture

Interesting considering the fact that the US recently has had the lowest per capita birthrate since the mid 70's.


Nothing to see here.


Move along.


Edit for the cock gobbler that junked me...


I was being facetious, dimwit.

Palladin's picture

The BLS Birth/Death model has nothing to do with people being born or dying. It's another made up paramater that the BLS has come up with. It assumes that business are Born and Die. When they are Born, jobs are created. When they Die, jobs are lost. More on the Birth/Death Ram-a-Ram can be found here:




mcmoo's picture

Zandi looks like a deer in the headlights. QUESTION: Can anyone weigh in on SILVER today.....Happy Friday!

rubearish10's picture

Still treated more like an economically sensitive investment than currency.

Jayda1850's picture

slowing economy means slowing industrial demand, which is still about 60% the price, like it or not.

Saxxon's picture

Both correct re silver, both unfairly junked.

Slim's picture

There should be some function to see who junked it.  I guarantee less junks if you institute that.  I think a lot of people here junk anything that isn't outright bullish for their own personal view and portfolio (and we have some extreme personal views and portfolios so expect tons of junks and mostly conflicted ones).

Arnolds Love Child's picture

One more excuse for the cartel to whack the shit out of it. Do not sell any physical. Shlomo shall print.

apberusdisvet's picture

CNBC is now theater of the absurd.  Liesman is such a propaganda tool. Why does Santelli even try to speak the truth?

Cdad's picture

And the VIX is at 18 because....?

Cdad's picture

VIX should open at about 19.40

After that, we shall see if Ben Bernanke's own personal VIX creation units machine kicks in, and massive amounts of imaginary options suddenly become available for sale.  And either that machine is plugged in, or the VIX soars over 20, and next week will be FUBAR city.


assumptionblindness's picture

The low VIX over last couple of weeks has been puzzling to say the least.  In the last couple of days the markets have been having second by second flash crashes and flash melt ups.  Yesterday, in particular, the DOW moved 20 points in 10 seconds more times than I could count.  Yeah, volatility is really low, right!  I need a drink....  Who knows, we will probably end today with the VIX below 18 and the markets closing up 1%.  Paging Johnny 5, paging Johnny 5...  

mmlevine's picture

Because it's a fix.  Lower option pricing?  Cause if the VIX was 50 where it belongs, options would be through the roof and there go the option dealers.

Dain Bramage's picture

....options are no longer a hedge for this mess.

Why do you think gold is so high?