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As People Not In Labor Force Hit New Record, Those Who "Want A Job Now" Jump By 232,000 In One Month
Another observation from today's BLS data: while the labor participation rate may have remained flat, the total number of persons not in the labor force as an absolute number just hit a new all time record of 86.248 million, higher than the previous record hit in February of 86.216 million. And just as relevantly, the total number of "people who want a job now" jumped by 232,000 from March to April to 6.482 million, just short of the previous record of 6.643 million. Can someone please redirect all these people to the minimum wage, part time jobs that just opened up at US fast food retailers please?
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Don't confuse the MSM with the facts. The corksoakers at CNBC want to have a party no matter what.
If 20 million Americans are looking for work, and 7000 are finding it, then 1 in 700 Americans who want a job right now are finding one outside of McDonalds. I'm so depressed at this I dont even want to say bitchezzzz.....
Its... its.. the something of a "recovery"? right?
But... but... 62,000 were hired at McDonalds, right?
Riiiigggghhhttt. It's a joke. Thats all it is.
Ive been online, and I'll tell you this. Any jobs that are out there require, for the most part, to be fair, a four year degree.
For every job that pays anything decent and does not require such, is in the areana, where you have the opportunity of fighting starving lions, with families to feed. And since I am of the younger demographic, with less experience, this poses a problem.
It's very hard to find a job online, because many (most?) companies don't hire from online resumes or applications they receive. Many (most?) jobs are filled by knowing someone in the company or by other word-of-mouth means.
But whatever do you mean? Reuters says:
Economy posts largest job gains in 11 monthsI mean, that's gooood, isn't it?
http://www.reuters.com/article/2011/05/06/us-usa-economy-jobs-idUSTRE745...
Then make it impossible to require the degree. Or to pass up the unemployed.
No McDonald's Jobs. It would be nice if people actually understood the reports before commenting on them. The McDonald's hring took place the 19th of April, the reference week for this report was the 11th of April, thus no McDonald's jobs in this report (they will be in next month though).
would you like bitchezzz with that
That would make my day alot easier!
are they looking for these jobs on their iPhones or on their iPads - perhaps Monster jobs has not yet been able to get Apple approval for their mobile apps?
i mean the headline does say they want Jobs right now!
Birth/death . . . what will bring more jobs? Lower wages, desperation via deflation.
don't worry, our current domestic economic policies are hard at work growing our own 3rd world labor force right here at home to compete with vietnam to lure our loving and caring manufacturing jobs back!
its gonna be great when we can make the shit we buy again!
The bugger of it is that a lot of factory owners, when they closed the factory, sold the machines to overseas concerns. It won't be a matter of walking in and flipping switches to get rolling again.
Great job fellow ZH's (on the boards), we predicted the NFP number couldn't be bad today, and that there would be virtually no chance of a flash crash today and the markets would rally hard today.
Every single moment is like Deja Vu all over again. This is getting too easy. I can't wait until the entire house of cards come down at this point.
Wasn't that about the same amount of people that just came off the unemployment rolls? What a coincidence!
Wait...that can't be right. Using those numbers doesn't seem to line up with the official unemployment statistic. I think your chart is upside down, Tyler.
But the Red trend line of "People who want a job" is going Up. "Up" is good -- I was always taught. Or is that "Greed". I get confuzed. Opps, gotta go. I see a stray cat in the yard. Tonight we eat meat bitchez.
I have a friend that constantly keeps saying "well these jobs are better than what they had before, which was nothing." I find it hard to base a recovery off that idea.
http://www.marketwatch.com/story/blowout-payrolls-data-a-matter-of-trust-2011-05-06?link=MW_home_latest_news
Usually if I'm looking for a good head job I go to MarketWatch - they have much practice on TPTB.
This is never coming to an end.
The woes and disruption that happened in Japan still coming through, Europe still struggling and German and UK just crunched a reverse gear. I expect real unemployment to increase.
The deficit is just gonna grow and grow.
There is no way out - just to choose which way the you want to kill the economy. Austerity or Hyperinflation.
Austerity doesn't kill the economy. Wreckless government does, however.
Austerity puts more money back in the hands of consumers, who can then go out and consume some more, and we can get the velocity of money upticking.
posted this yesterday (hey I ought to change my handle to Nostradamus, eh?)-
by r101958
on Thu, 05/05/2011 - 16:25
We may see a surprising UE number tomorrow, no? That might explain some of this....market always prices things in early....and we certainly wouldn't get the word ahead of time (like the big boys).
by r101958
on Thu, 05/05/2011 - 16:30
...soooo, when they come out with 9.2% UE then the market can go up and the commodities will stay the same or go up a little....maybe, go up big as then the market would see QE3 as assured....heck, who knows.
When does all of those 99'ers come off?
As long as the fake ass stock market keeps pushing toward giddy heights all is well.
1 in 700 finding non McD work that are looking... Mongolia, Malaysia, Taiwan, Indonesia, its all the same.. they can find jobs that are not McD jobs..but real salary in USD is less than a McD worker in the States.. so real high quality jobs in abundance, I don't know of anywhere personally where they are. Perhaps Australia and New Zealand.
Shocking figure in the statistics about the Labour Force in the US, is that only 8% of those in emploment are in manufacturing.
Imo, thats the key problem with the US Economy.
And if they cut military spending there goes those jobs at defense companies. The policy settings will be for more wars.
1 in 700 finding non McD work that are looking... Mongolia, Malaysia, Taiwan, Indonesia, its all the same.. they can find jobs that are not McD jobs..but real salary in USD is less than a McD worker in the States.. so real high quality jobs in abundance, I don't know of anywhere personally where they are. Perhaps Australia and New Zealand.
Jobs surprise at + 230,000 but unemploymemt stays at 9%. real unemployment still equals 17. Real, real= 21.
if the Fed uses 9 then QE3 should not happen...
Wow are you off here. First, the seasonally adjusted not in the labor force who want a job only went up by 30,000. But, since you like to use unadjusted numbers when they suit your beliefs, that means that the actual job creation number for the month was +1.169 million and the unemployment rate dropped to 8.7%. Second, you don't think that maybe those not in the labor force may be increasing due to boomers retiring? It is very likely that the not in the labor force number is going to continue to rise regardless of the state of the economy as the huge boomer population leaves the workforce.
Wow, you are an idiot.
Fabulous comeback. You even supported it with data. This site is becoming a big circle jerk, facts be damned.
I agree.
The dumbazz probably doesnt know the difference between u3 and u6.
Fuck you. Don't let the door hit you on the way out, douche.
You want Facts?-You are a fucking idiot. The economy is, and always has been, in a deep deep recession/depression since mid 2007. What proof do I have? Price the Dow in Gold...collapse, bitchez. Also things will become much more clear in the next few years as the ponzi unravels.
Maybe the economy will collapse maybe not.
One thing for sure is you will always parrot simple superficial cliches.
SilverOz has been predicting a job market rebound since the summer of 2009. Eventually he'll be right -- one can hope.
All I hear out of your mouth is excuses. Seasonal adjustments were made specifically to reflect statistical bias. I'm sorry but when you have a birth death model adding 175K jobs it is being used to add jobs as part of your calculation something is seriously wrong. The BLS is a joke, it tries to use every excuse it can to pump employement numbers higher and unemployment numbers lower. Why do you think they use U3 vs U6 now to show unemployement, why do you think people are no longer counted after two years of unemployement. Hell why do you think they calculate this shit when all it would take is for the IRS to release the number of tax reciepts they recieved for a given month and bam no fucking statistics needed at all. But then they wouldn't be able to bullshit their way to a higher employment number then would they.
This shit is a bad joke.
Burnbright; You are correct. The IRS has most of the information necessary to generate accurate payroll data.
The answer is that the governing authorities do not want real numbers released. The more grey the numbers and many variedsurveys there are, the more spin and confusion. Economists with their alleged math skills have become the pimps for the governing and bankster classes.
So, here we all are, as well as at multiple other blogs and news sites arguing about the color, taste, shape of the toothpaste, without really asking if the toothpaste cleans teeth as intended.
I have worked in large companies in manpower planning and can tell you that the way economists count employment statistics is bullshit. The decision to hire is based on two things initially. What revenue can a new hire generate now or in anticipation of future potential revenue increases.
Every manager/owner who cannot adequately answer these questions, is not allowed or does not increase headcount in their business.
There are still some high-paying jobs avaiable but they require specialized high skill training and considerable experience. The lower 80% of the job market seems to be totally gone.
Then obliterate the requirements, and train on-the-job to make up the difference. But then that'd be a long term investment.
I know of 1 new vacancy this week.
"Wanted - new young and dynamic leader for a well established and large terror organisation based in and around Afghanistan. Much travel involved and the chance to expand your horizons. Own car essential - but accomodation is provided. Must have good TV face and be able to dictate long speeches in Arabic. Pay circa $100,000 a year in unmarked bills left in a suitcase at Karachi airport. No time wasters please"
I dont understand why you are depressed... The economy is shifting back to fundamental economic activity. In the short term, I agree it will be very painful for people who have little to know real skills, but the economy will be better because of it.
Little to know, you no like typing/spelling skills?
Probably auto complete!
It is very hard to drive and hedge simultaneously.
Then he must have an algo enabled device, because no and know don't start with the same letter????
That said I EFFING HATE the grammar police around here. Did the guy get his point across clearly? Then ball off.
I suspect boomers will be delaying their retirement for some time.
I heard alot of the new jobs at fast food places are going to people in their 50s and 60s . I think I will go look for myself and maybe get a Happy Meal.
Only 232K.....?
Nevermind the 900K people who didn't get the job at MickyD's!!!
The 99'ers are dropping off incrementally.
Good.
When their backs are against the wall they can dig ditches and wash dishes like I used to do.
Lazy motherphuckers.
You're sort of right, except you discount the fact that a lot of people draw out their claims and work under the table. If my job fell apart, you can bet your hairy troll ass I would draw my claim to dust while I scrounge other work. Not saying two wrongs make a right, but after all the years I have paid in my "fair share", I would have ZERO problem taking some of it back out.
The problem is Zero Hedge makes sense to my mind for the most part.
The world never operated by common sense.
Until we reconcile the goings on of this planet and common sense, this publication will always have something to say and the world will continue on doing what it does best, ignoring reason. :)
Tell me why this intel is any more believable than the previous intel, especially in light of the recent assault on PM's.
Greetings from the GTA (Greater Toronto Area)
This is my first official post - i just wanted to thank ZH and all the great information provided by all the (true) characters on this site...
I recently became a Au/Ag bug in December 2010 and never looking back (long term)
I just wish I had an understanding of the jargon a bit better, but over time that will improve.
Sorry to hijack the thread but wanted to pay my respects this 1st time and wish to contribute in future discussions...
Fried(e)
Welcome Fried Eggs, better late than never, I too started late 2010 for the long haul. You seem polite and intelligent and we can use some more of that around here. The Jargon is complex sometimes but you get the jist of it and that's where it counts. I don't know why the sp index just shot up along with the percentage of deliveries compared with the future index of the specualtion with regards to the US ECRI, but I do know that my dollar is getting weaker and it's causing my gas to jump along with my food to inflame a gloabl revolution and possible econmic collapse. Hell that's all that really matters and good luck in Toronto, I always liked you Candaians.
The bulk of the increase in private payrolls in April (positive 57,100 vs negative 3,200 in March) came from retail and primarily merchandise retail which, in my opinion, are not the best jobs to create future economic growth. In addtion, these types of jobs have very high turnover and thus could create negative payrolls in the future: http://www.hedgefundlive.com/blog/the-bls-report-for-april-2011-aka-non-farm-payrolls-not-as-good-as-it-looks
People who claim they want a job now but havent looked in more than a month arent serious.
I see those people all the time in public government clinics. They all claim they are trying sooo hard to get a job.
Actions speak louder than words. After their first visit in the clinic i get a request two weeks later from a lawyer helping them file a disability claim.
Lazy, trashy, lying motherphuckers.
Hey Zed - Thank you and much appreciated...
We are all in the same game together just trying to figure this puzzle out.
For me (and probably a lot of others on here), it goes beyond the economy and financial markets, but, this quest for truth on what the hell is going on in the world. It was those questions(1st) that eventually lead me here(2nd).
Because once you have a taste of the truth, you can't help but to search and want more of it...
Fried(e)
Hey Zed - Thank you and much appreciated...
We are all in the same game together just trying to figure this puzzle out.
For me (and probably a lot of others on here), it goes beyond the economy and financial markets, but, this quest for truth on what the hell is going on in the world. It was those questions(1st) that eventually lead me here(2nd).
Because once you have a taste of the truth, you can't help but to search and want more of it...
Fried(e)
Tyler, Limbaugh just mentioned you and this post.
There goes the neighborhood ;-)
- Ned
The last time Rush mentioned ZH, we got Texas Gunslinger.
Rush just mentioned ZEROHEDGE
Your Famous!