Job Gains Providing a Ray of False Hope?

Leo Kolivakis's picture

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spinone's picture

Don't worry, a new bacteria has been discovered. It eat debts and poops jobs.

mrhonkytonk1948's picture

Maybe they need to start polling unemployed economists. 

RockyRacoon's picture

Statistics from the Small Business Administration (SBA). Small businesses:

  • Represent 99.7% of all employer[s]
  • Employ just over half of all private-sector employees
  • Pay 44% of total U.S. private payroll
  • Have generated 64% of net new jobs over the past 15 years
  • Create more than half of the nonfarm private gross domestic product (GDP)
  • Hire 40% of high-tech workers (such as scientists, engineers and computer programmers)
  • Are 52% home-based and 2% franchises
  • Made up 97.3% of all identified exporters and produced 30.2% of the known export value in FY 2007.
  • Small firms produce 13 times more patents per employee than large patenting firms; these patents are twice as likely as large-firm patents to be among the 1% most cited."

Did they get help first?  Nope.  Are they getting help now?  Nope.

Lip service doesn't pay the bills!

Hang The Fed's picture

Leo, what if they don't really care to fix the job situation?  What if the end-game is, in fact, a steady decline until we are all completely dependent on the state for our basic needs?  I find the fact that, on a popular level, we're looking to government policy to fix the unemployment situation to be a very dangerous sign that there's a tremendous amount of inertia in that direction as it is.

Leo Kolivakis's picture

I don't think anyone expects the state to fix unemployment, but inertia is also present among businesses.

Bear's picture

Hope ... Hope ... Hope

Hope that we will return to 4%+ growth, Hope that we will return to full employment? Hope that that our combined debt will go away? Hope that SP will return to 1400?


Hope that we survive as a nation? 

Hang The Fed's picture

Or, even more dire, whether or not we survive as a species?  Everywhere you look, the signs are not good on the longer time line.

Sudden Debt's picture

That chart looks like the electrical wiring I did in the bathroom last month.

And everytime I turn on the light, every day becomes the 4th of July!


Bankster T Cubed's picture


any talk about the B(L)S number without examining the birth/death component and the full time/part time component is a whole lot of stupid talk

anyone making conclusions based on the headline number is by definition af total fucktard

traderjoe's picture

I enjoy the anecdotes and stories, ZH'ers. Keep 'em coming...

TuesdayBen's picture

"...devastation caused by the financial crisis"...

How about: "devastation wrought by the gubmint's intrusion into the financial markets, particularly the residential mortgage business, and further damage caused by the gubmint's feckless ongoing response to said devastation".

Uncle Sam - picture Bawney Fwank in your mind's eye - sucks at most things he takes a stab at, and he really sucks when he tries to be a businessman.  He'll shortly prove to be a shitty doctor, too.

Pack your bags, Uncle Sam, and take your sorry ass out of our lives.

Rogerwilco's picture

An acquaintance of ours worked for the census bureau, from March until last week when she was laid off. She claims managers were told in July to stagger the layoffs and spread them out as long as possible, even if that meant paying workers to do the same tasks twice. Another extend and pretend scheme using taxpayer and borrowed funds.

Lndmvr's picture

On my weekly inspection run I see........ New houses being built, not new sub divisions but the filling out of old ones. Home additions being built, new roofs being put on. Lots and lots of house for sale signs. As this is Iowa, 2 story refurbed farm style houses going for 50K in great shape. Lots of older pieces of crap starting to fall in on them selves. Giant 100k farm machines crawling around the back roads, not a work scrape on them. ( Harvest is coming). $1.75 for a bottle of coke at the Caseys but 2 gatorades @ $3. Not many cars on the road but I drive during others work hours. I've been working steady 1 day a week but looks like 2 days coming next week. To me it still looks like things are slowing down.

TuesdayBen's picture

I recently returned from a visit to that neck of the cornbelt in which I grew up.  It continues to whither on the vine, downtowns dead, manufacturing dwindling, gubmint-approved casinos everywhere, immigrants from all over the world - Somalia, SE Asia, Central America, lots and lots of folks sponging off the gubmint...  The farmers in my area are on the verge of a HUGE year, with record corn and bean crops and good prices.  A farmer buddy of mine rolls some of his profits into small town single family homes - from $500 to $7,500 dollars, which he then leases out to folks on gubmint rent handouts, generally meth addicts and young women with kids from multiple illegal alien 'fathers'.

But at least the fishing is still good.  I mean, you must be licensed by your government to try and catch one!  In fact, the local Game Warden - I believe they are now known as Conservation Officers - checked my license.  Guy drove a sweet, enormous, state-funded diesel rig, behind which he pulled one of the finest boats in town with state of the art, state-funded electronics.  Ya know, if gubmint didn't try to keep control of everything, everyone, and every fish, my neck of the cornbelt would be an ugly picture....

RockyRacoon's picture

New law:  All persons reporting gross income of over one million dollars a year are placed into a drawing constituency.  This is done by lottery, sort of like jury duty.  They have to set aside 30 days each year, given $500 in cash, and dropped off in a city of 100,000 or less of their choosing, not in a coastal or border state.  Identification shall consist of no more than a drivers license, social security card, and emergency contact information.  No communication method (cell, i-crap, or otherwise), one duffel bag of standard Army issue with nothing but clothing allowed.   Maximum number of "participants" is 1,000 per year.  Any media who encounter the participant are fined $10,000 or 30 days in jail for each question asked or minute of video taken.  After the "expedition" each participant is required to attend a 1 hour debriefing fully televised.

Fantasy land, of course. Of such things dreams are sometimes made.  The first thing they will do is buy a phone and have their jet sent to pick them up.  They will, however, have encountered at least one ordinary person.  After some time it will become a matter of pride that they stuck it out and the degree of misery they suffer will become a badge of honor.  Will it do any good?  Who gives a shit.  At least we will have made a point.  Welcome to the "real economy".

traderjoe's picture

I don't think it's all wealthy people per se. I know a couple of people that make that sort of money, and they provide decent value to society. It's the military/industrial complex, the war mongers, the bureaucrats, the politicians, the lobbyists, the banksters, the financial services cabal, the regulators, the union bosses, the for-profit schools, etc. 

And the unwashed masses unwilling to learn what's going on, and challenge for a better future. 

RockyRacoon's picture

...military/industrial complex, the war mongers, the bureaucrats, the politicians, the lobbyists, the banksters, the financial services cabal, the regulators, the union bosses, the for-profit schools, etc.

They would be on the list! That's the sort of talent we need in the Poor Brigade raffle.

There is no culling of the wealthy "good people" here.  Not all street people are nasty, smelly, thieving thugs either.  You'll get a few decent folks in the mix.  So what.

I don't care if they learn a lesson or anything else.  I just want them to SEE the regular folks and encounter at least one before they go back to their version of civilization.

Rogerwilco's picture


I live in one of those towns -- here is what would happen to the poor soul in your little fantasy. They would find numerous churches and shelters offering government subsidized assistance. At a minimum, our traveler would have access to 4-6 meals a day, a cot, and a shower, with the only requirement being that he not present himself drunk or high. If he didn't like the stuffy atmosphere of church digs, he could wander down to the tent city near the river where dozens of bums live illegally, drinking, smoking dope, and screwing. They collect food stamps that pay for the necessities, and for spending money many of them hold silly cardboard signs (ex.: I'm $5 short of a hooker) and beg for money at busy intersections. This begging earns an average of $15/hour, tax free, or about twice as much as any "real job" they might get, and the hours are flexible.

The police tried to break up this happy little party Over the Summer and cap the blatant illegal activities in and around the camp. The result? Three cops have been fired, two are on suspension, and the bum's pro-bono lawyer has filed a lawsuit against the city.

Poverty is just a state of mind, so I'm not sure what your experiment might accomplish. A "wealthy" person placed in a situation with few assets will not remain there for long.

RockyRacoon's picture

Roger!  That's what I want them to experience.  Either way they are more enlightened when they return to "normal" life.  They can be hardened to the free-lunch bunch, or they can be softened by the truly indigent.  That's not the point.  The idea is to get them out once in a while to trod the dusty roads.

Snidley Whipsnae's picture

Yeah, it's certainly a paradise for those 'bums'. Were they always bums or did they have jobs at one time?

You forgot to mention that the bums get to enjoy free head lice, bed bugs, fire ants, misquitoes, scorpions, spiders, snakes, etc.

A diet of mostly starch.

No privacy.

Living in fear of beatings, stabbings, murder by other bums or skin head passers by.

Never a good nites sleep for fear of fellow bums or teens that think setting fire to bums is fun.

Constant hassels by cops.

Yeah, a real

Rogerwilco's picture


Sorry, these bums are a cut above your Hollywood stereotype. They have taken over the city's parks where they lay about soaking in the sun on warm days. During the Winter months they can sit in the warm shelters and watch TV. Most of then are dressed in nice, clean clothes courtesy of the numerous assistance programs. The idiots that run these handout efforts constantly try to expand them because it brings in more government money and expands the size of their little bureaucratic fiefdoms. Lazy people aren't adverse to taking advantage of a good deal when they see one, so the number of "homeless" continues to expand.

The latest trend I see is that many of them now have dogs in tow. Think about that for a minute, we have bums that can afford to keep and feed pets. A group of bums was hanging out in front of our local Albertsons grocery store near the river. There were several dogs among them and they sat there eating, smoking, and making a lot of noise. When I came out ten minutes later, they were gone, but a store employee was busy cleaning up the trash and dog shit they left behind.

I'm not against programs to help the truly destitute, especially families in need. But what I see in our town is a growth industry that caters to a group of lazy-ass freeloaders. Do-gooders and do-nothings conspiring to suck the blood out of society. What a country.

ZackAttack's picture

U-6: 16.7%. The birth/death model adds 115,000 jobs. Does anyone believe it, even for an instant? If they're going to lie, could they even bother to lie convincingly... 19,000 new construction jobs? 70,000 new retail jobs? 45,000 new health services jobs? What utter bullshit.

How many more are underemployed? 8.9 million people now are involuntarily employed part-time. Around here, I see 2000 degreed people applying for a job as a waiter in a minimum-wage steakhouse chain.

Wall Street celebrates this. It should be thinking instead of fleeing someplace without an extradition treaty. Or lampposts.

Invisible Hand's picture

I think the huge amount of hot air about a jobs report that is obviously manipulated (birth-death always more birthy than deathy even in such an obviously crappy economy) is a sign of desperation (or the need by pundits to keep their name in front of the public).

Jobs are the real issue but rather than allowing and encouraging investment in job creation in productive industries, we waste our resources in mal-investment to buy votes and political bribes by supporting parasites (i.e. banksters and union thugs).

Those whose livelihoods and high positions are totally dependant on the current economic and political system must find something, anything, to say that justifies the continuation of this rotten system.

I, for one, am working and studying how to extricate myself from this parody of a society.  While my options are limited, due to age and health, I understand and support that at some point that the people to whom the future belong, the young, will reject this dishonest fraud of a government and market. 

While the results for myself will probably be tragic, I think we are past the point where half measures will work.

My only concern is whether, after 50 years of dishonest education about what makes a society good, successful and free, will we choose a worse system of governance rather than a return to a better one.

I fear a Beerhall Putsch is as likely as a Declaration of Independence.  Regardless, the current system is on the edge of exhaustion.  When the lack of credit forces austerity on most, or all governments, the resulting suffering will trigger enormous social unrest.  Will people demand freedom of opportunity or accept serfdom in return for handouts?  Probably some societies will choose one, some the other.  Obviously, the cozy dependancy and sense of entitlement fostered over the last 80 years has reached the end of its run.

All of us would prefer not to have to accept this "bitter cup" but no one gets to choose their times, only how they act in the circumstances they find themselves in.  I hope that Americans will choose shared austerity and rebuilding a society based on individual responsibility and economic freedom, regardless of whether that means that my continued existence is too expensive a luxury for our society during this transition.  If we choose the apparently easier path of avoiding responsibility for our lives in return for being "cared for", we will soon discover that we have neither freedom, nor comfort.

The alternative to inequality of outcomes for individuals (some successful, some miserable--based on their unequal efforts and gifts) is not the equality of outcome of a utopia (all moderately successful-rulers and ruled) but the equality of outcome of a tyranny (all miserable-except the rulers).  Your choice, your fate. 

Azannoth's picture

I am not aware of a single society in the long history of mankind that has turned it self around to a better path(without 1st dissintegrating or getting conquered), your hope goes against 10000 years of history I am afraid

Not to mention that there are very sophisticated and resoursfull interests that do everything to fragment and weaken all societies of the West, many of the policies that have been adopted(by the backdoor) in the Western world have the same purpose as the British getting the Chineese addicted to Opium 1 century ago, make them dumb and happy than scare them with a little terrorism and the World is at your feet

Humans are no different than Lemmings, even though we like to brag about being the only Intelligent species on this Planet and some say in the Universe(lol)

hamster wheel's picture

I am not aware of a single society in the long history of mankind that has turned it self around to a better path (without 1st dissintegrating or getting conquered), your hope goes against 10000 years of history I am afraid.


There might be a (very) few exceptions to this, but then, exceptions often tend to prove the rule.  Great point.

unwashedmass's picture

'how are ghost jobs any hope at all?

when are we are going to stop lying about what's happening, acknowledge it, and start doing something about ?

like fire bernanke, and then indict him.

Azannoth's picture

Punishing 1 man (or a small group) for the failure of society, is that really going to help, or do we just Burn The Witch! and carry on as usual till the next election/recession/depression

Snidley Whipsnae's picture

Who is to say that 'burning the witch' would not help consumer sentiment or buoy the economy?

Romans went to the circus to watch the lions eat christians...did it make the Romans feel better?

Something was accomplished by Roman Circuses, otherwise the rulers would not have spent the money on them.

Everyman's picture

The bulltards such as the one posting that "burning the witches" will not do anything for the market, is talking out boths sides of his butt.  Isn't this the same sentiment that the bulltards are pushing that the market is driven by sentiment and psychology??


You can't have it both ways.  Well said Snidley

RockyRacoon's picture

You are on the right track.  Here is a good article to explore that:

Guest Post: The Prosecution’s Case Against Alan Greenspan
Azannoth's picture

Why there are no jobs in Amerika


If you consider what the man sais it's hard to believe that we have ANY (non government) jobs left

JW n FL's picture
Azannoth, Brilliant read... Thanks! Be well, JW
Troy Ounce's picture

Please,no hope anymore

I want to go to the bottom and start again.
I want to prosecute and jail the current crooks in charge
I want to have a new system which will restrain the politicians and bankers.

The steeper and deeper the fall, the more chance we have to purge the current system.

rocker's picture

I want things too:     I Want My MONEY Back   from the bank thieves.

I want my bailout money back from Goldman Sachs that Hank Paulson, Neel Kishari, Lord Blankfein and George Bush stole from us taxpayers. Goldman was bankrupt and we paid for his 100 million dollar bonus. Criminal I say.

I want all the crooks who engineered the bailouts and fraud against us to go to jail.

I want the supreme court to reverse the decision to allow unlimited funds for campaign contributions. Now, even the Saudis can buy our elections. Nothing like having a government for and by the bankers and corporations of America.

Wow, I was dreaming again. Sorry.

Ned Zeppelin's picture

Couldn't agree more - the salvation of Goldman Sachs had nothing to do with the American economy, and everything to do with preserving the wealth and power of the few, and exposed to plain sight that the system was crooked to the core, that the rule of law applies only to the many, not the few.  It was and continues to be one of many examples in the entire fall 2008 season of thievery, a travesty of just and fair play.

"He said that it is a mistake to expect too much of justice in this world. He said that the notion that evil seldom rewarded was greatly overspoken for if there were no advantage to it then men would shun it and how could virtue then be attached to its repudiation?"

 - The Crossing, Cormac McCarthy.


ebworthen's picture


Purge and burn.

The clip from the progressive's propaganda outlet (PBS) is a big tipoff.

Do they send a year's supply of SOMA and rose colored glasses if you send in a contribution during those damn telethons?

"Surely, if we have polite conversations about hope and change that gorilla in the room won't smash the tea set and dash our hopes and brains on the berber and brocade!?"

Tear it down, tear it down!

Everyman's picture

Well Said Troy Ounce!   +1000

Gold is the way.

hungrydweller's picture

What gains!  Birth - Death bitchez!

traderjoe's picture

Can you imagine (I guess so) that not one of those economists discussed the birth/death model? 

How about that the headline results were not statistically significant? 

How about that after 1 year of recovery and trillion$ spent, all you get is 60k jobs in a manipulated government report?


taraxias's picture

How about we stop reading all the rubbish Leo posts?

traderjoe's picture

I was a bit offended by one of his posts last week, but I think this one was worth a read. We need alternative views and perspectives. 

Snidley Whipsnae's picture

I only read Leo's posts for the comments. "The soft patch for jobs may have been extended for a fourth month today"...

When does it stop being a soft patch and start being a crater?

Leo...I hope they are paying you well for your continued optimism while you're trudging into the economic shit storm.

Hulk's picture

You first! LOL. The comments alone are worth the price of admission..