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US Needs To Generate 246,600 Jobs A Month To Get To Pre-Depression Employment By End Of Obama Second Term

Tyler Durden's picture





 

Every time we revise the attached chart, its looks worse and worse. The first time we did an analysis of how many jobs per month the US has to generate each month to get back to the same payroll number as of November 2007, right before the start of the Greater Depression, and when accounting for the 90K/month natural growth to the labor force, something the administration continues to blissfully ignore (with the labor participation rate plunging to a 26 year low) it was in the mid 220s. As of today, the number is almost quarter of a million, or 246,600. That is how many jobs the US has to generate every single month until November 2016, or the end of Obama's improbable second turn, for the unemployment rate to get back to where it was when accounting for population growth. And while this is obviously impossible, one other thing that is concerning is that post the revised NFP numbers, not only do we now get a lower cumulative low of all jobs lost, at just over 8.6 million attained in February 2010, but as the highlighted area demonstrates, the recent trend in jobs is one of accelerating deterioration. If in the offchance it were to, gasp, snow in February, March will likely have the first negative NFP print since September. Oh yes, post today's revisions, we now learn that the months June through September actually lost jobs (granted, inclusive of census adjustments). One thing is certain: 5% unemployment will not be back for the next 5 years. 100% guaranteed.

 


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Fri, 02/04/2011 - 14:15 | Link to Comment NOTW777
NOTW777's picture

not if we use affirmative action standards

Fri, 02/04/2011 - 14:57 | Link to Comment Twindrives
Twindrives's picture

Let's hope the lying bastard is a one term president, then goes back home to Kenya afterwards.

Fri, 02/04/2011 - 15:38 | Link to Comment VegasBD
VegasBD's picture

At the end of BOs second term there will be much higher unemployment than when he took over. At that time, and after 8 years of failed economic policies, will it still be George Bush's fualt? Ha

 

Fri, 02/04/2011 - 15:46 | Link to Comment Pure Evil
Pure Evil's picture

Obama may serve two terms, but most of that time he'll be on vacation and won't know exactly why the economy has failed or whose at fault.

Of course, he can always blame Generalissimo Benkranqer Wanquer.

Sat, 02/05/2011 - 03:21 | Link to Comment RiotActing
RiotActing's picture

You jabronies act like it matters who is president. Who's next? magic underpants guy? Please, the powers that be will decide who's best for them and Obama has been doing just fine letting them do what ever they please.

Fri, 02/04/2011 - 16:35 | Link to Comment Triggernometry
Triggernometry's picture

Yes, it would be.

Since the FBI is on record as having warned of widespread mortgage abuse in 2003, it should be obvious Bush's hands off approach had much to do with inflating the bubble. This couples with the trillions sunk in middle east quagmires puts the brunt of the blame on Bush.

Unless you're arguing Obama would have done the same, are you?

Don't get me wrong, Obama is ultimately responsible for what happens, or fails to happen under his watch, but he didn't stack the house of cards or blow it down. Fuck Obama, but fuck Bush twice.

Fri, 02/04/2011 - 17:15 | Link to Comment tarsubil
tarsubil's picture

In terms of policy, there is very little different between Obama and Bush. I said before the war and now that we'd be there regardless of which party wins. The only difference would have been that the NYT would have supported Gore in starting the wars. The only real difference between Bush and Obama is that Obama wants to blow more money in bigger and more wasteful ways. And he hates America. Otherwise, beyond meaningless superficial differences they are both big corporate/government guys.

Fri, 02/04/2011 - 18:48 | Link to Comment DaveyJones
DaveyJones's picture

I hate all of them...alot. Think it was Pelosi who after her party took over congress (much like the recent gig) but back then, it was over ending the stupid wasteful, criminal war. She then said (privately) they would not stop it so they could further damage the other party. These people are filth. Like you said, it doesn't matter, they will steal anything from anyone, kill anyone for anything, to serve their masters. This will not end without a lot of grief, a lot of pain, and a universal destruction of the ruling parties. 

Sat, 02/05/2011 - 03:24 | Link to Comment RiotActing
RiotActing's picture

Hates America? Are you really that dense? He loves America he does what the power elite tell him, he does it with a smile.... Hate America. Man I had no idea this many idiots read ZH.

Fri, 02/04/2011 - 18:30 | Link to Comment Alex Kintner
Alex Kintner's picture

Bush will burn in hell regardless of what Obama does. However, to this point, it looks like BO is auditioning for a part as Bush III.

Fri, 02/04/2011 - 19:30 | Link to Comment TheGoodDoctor
TheGoodDoctor's picture

Nah that will be Jeb Bush's half latino son. Next Bush to be President if you ask me. "El Busho!" 2040?

Fri, 02/04/2011 - 14:16 | Link to Comment redpill
redpill's picture

"100% guaranteed"

Many things are certain in Benbabwe!

Fri, 02/04/2011 - 14:17 | Link to Comment NOTW777
NOTW777's picture

listen to the angry black guy - obama is doing a great job creating "jobs"

the problem is with the "previous admin."  LOL

Fri, 02/04/2011 - 14:21 | Link to Comment topcallingtroll
topcallingtroll's picture

I dunno. The one before him kinda scared me too.

Fri, 02/04/2011 - 14:26 | Link to Comment schoolsout
schoolsout's picture

Well, uh...what can I say

Rush mentioned Zerohedge today on his program and a fellow by the name of Tyler Durden regarding true unemployment figures.

 

Congrats....

Fri, 02/04/2011 - 14:45 | Link to Comment Crispy
Crispy's picture

Ugh.

Fri, 02/04/2011 - 16:11 | Link to Comment Logans_Run
Logans_Run's picture

Rush probably thinks TD is a real person. D'oh!

Fri, 02/04/2011 - 17:11 | Link to Comment ColonelCooper
ColonelCooper's picture

Someone said in another thread that a ZH story was linked by Drudge; that's probably where he got it from.  

Fri, 02/04/2011 - 18:51 | Link to Comment DaveyJones
DaveyJones's picture

by the way, which one is pink?

Fri, 02/04/2011 - 14:19 | Link to Comment topcallingtroll
topcallingtroll's picture

Probably wont happen...attempting to push employment up that quickly might accelerate inflation, unless we get really huge productivity numbers along with it, but that probably is wishful thinking.

Fri, 02/04/2011 - 14:20 | Link to Comment kengland
kengland's picture

Why would you benchmark employment against an economic bubble? Your smart enough to know better unless of course you have an agenda? Puting aside the bit of producitivty gains achieved over the last 30 years, has any part of it been real?

 

 

Fri, 02/04/2011 - 15:10 | Link to Comment mrcmmm
mrcmmm's picture

I had similar thoughts.  While I think the point of the graph and article remains valid, the number for comparison should be some normalized employment level taking out the effects of the bubble.  In the end, there still needs to be a large number of jobs created to return even to that level -- maybe it's 200k/mo, maybe 175k/mo, I dunno.  We're still far behind.

Fri, 02/04/2011 - 14:20 | Link to Comment NOTW777
Fri, 02/04/2011 - 14:21 | Link to Comment HarryWanger
HarryWanger's picture

For an excellent explanation of today's jobs report please read 


Daily Color: Two Employment Surveys, Different Results

at Calculated Risk. It's the best I've read from anyone and is spot on.

Fri, 02/04/2011 - 14:23 | Link to Comment topcallingtroll
topcallingtroll's picture

Thanks harry...i love you!

Fri, 02/04/2011 - 14:24 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Watch out Harry. That confirmation bias will give you heart burn and make your ding dong flaccid and useless.

What? Oh, sorry. Too late I see.

Fri, 02/04/2011 - 14:48 | Link to Comment trav7777
trav7777's picture

you don't know that they just rejigger the number of people in the "labor force" to get the headline UE?

this is how unemployed people who did not get jobs can suddenly no longer be "unemployed."

Fri, 02/04/2011 - 14:58 | Link to Comment andybev01
andybev01's picture

It's hard to count people who have become invisible, isn't it?

Fri, 02/04/2011 - 15:39 | Link to Comment Pure Evil
Pure Evil's picture

Well, according to Hankqer Cankqer, all they need to do is get a job at Walmart or Burger King.

I think Walmart and Burger King ought to be able to create 246,600 jobs a month to put all those lazy asses back to work.

Nothing like creating minimum wage jobs to put America back into preeminence on the world stage.

Fri, 02/04/2011 - 18:57 | Link to Comment DaveyJones
DaveyJones's picture

they can also then still qualify for public services further draining the empty public coffer. 

Internal Wal-Mart Memo Validates Findings of UC Berkeley Study
October 2005, by Arindrajit Dube, Ken Jacobs and Steve Wertheim

The Labor Center’s report, Hidden Cost of Wal-Mart Jobs, found that Wal-Mart workers disproportionately rely on taxpayer funded public health programs in California compared to workers in large retail as a whole. An internal Wal-Mart memo reported on in The New York Times provides data from Wal-Mart validates the basic findings of that UC Berkeley report. This research note highlights this confirming evidence, focusing on workers’ and dependent children’s health coverage.

 

Fri, 02/04/2011 - 14:48 | Link to Comment MiddleMeThis
MiddleMeThis's picture

"The CPS estimate of employment is for the total number of employed persons. Included are categories of workers that are not covered by the Current Employment Statistics (CES) survey: self-employed persons, private household workers, agriculture workers, unpaid family workers, and workers on leave without pay during the reference period."

Great, so the bulk of available jobs are maids/nannies, migrant worker (that the illegal aliens have cornered) and housewives.   I'd be interested to see the breakdown in the categories.

Fri, 02/04/2011 - 15:32 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

jobs...that the illegal aliens have cornered

America mainly produces mediocre jobs; including menial, repetitive and lame work conditions for its people, exactly the type fit for illegal labor.

Want a job scrubbing dishes? No prob!

Want a job mopping floors? No prob!

Even to become a waiter or bartender at a classy place has fierce competition, and the job still SUCKS.

The unemployment numbers are important, but of those employed, how many remain underemployed? ~90%?

Fri, 02/04/2011 - 15:52 | Link to Comment Pure Evil
Pure Evil's picture

Don't forget about cleaning toliets!

To the stalls you god damn illegal aliens. Hut, hut, grap your toilet brushes.

This is my plunger, this is my mop, this one's for unclogging, and this one is for sticking up the American taxpayers ass while popping out squatter citizen birthright babies.

I also hear there will be large demand for bed pan and diaper changers with the coming baby boomers retiring in large numbers.

Fri, 02/04/2011 - 16:03 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

Birthright citizenship is extremely misleading...

Makes you want to shit-out a Kenyan named Barry, smoke your brains out, teaching it be arrogant and cocky, make the fucker bring the hopium.

Who needs that shit! Fuck it, I'm going to the bar. Peace.

 

Fri, 02/04/2011 - 15:19 | Link to Comment d00daa
d00daa's picture

Please, expand on your interpretation of this Harry.  Or are you just mindlessly regurgitating that which fits your world view?  You slam "doomers" here for exactly the same reason, yet offer ZERO analysis of your own.  Just flamebait hit-and-run troll posts.  And you wonder why no one takes you seriously??

 

So you believe we are indeed averaging approximately the "consensus" 150k at this point?  200k?  This is important.

 

When NFP doesn't come in @ ~ +300k (or whatever number that works with what you believe the "true" average to be) next month, what then?

Fri, 02/04/2011 - 15:54 | Link to Comment Pure Evil
Pure Evil's picture

But, but...., they all got jobs at Walmart and Burger King.

Fri, 02/04/2011 - 19:07 | Link to Comment DaveyJones
DaveyJones's picture

what a joke. I think CRs comment sums it up:

"Thanks! Six years and counting of being told I'm wrong ... it is always a joy to answer so many emails  Hey, I have no crystal ball - I'll be the first to point out weakness in the February report if it doesn't show some catch up."

Fri, 02/04/2011 - 14:22 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

US Needs To Generate 246,600 Paper Jobs A Month To Get To Pre-Depression Employment By End Of Obama Second Term

I fixed it for you Tyler.

Fri, 02/04/2011 - 14:25 | Link to Comment HamyWanger
HamyWanger's picture

You just have to kill all the unemployed people (in a human way, through lethal injection for example) and the global unemployment rate will drop.

But I don't think it will be needed, as the global recovery in the global economy is already creating jobs by the ton. Commodity prices reaching new highs proves that the worldwide recovery is accelerating, and that Keynesian policies are working.

Fri, 02/04/2011 - 14:25 | Link to Comment topcallingtroll
topcallingtroll's picture

I love you to hammy but i dunno....some of your.solutions might go a bit far....I will think about it though.

Fri, 02/04/2011 - 14:31 | Link to Comment HamyWanger
HamyWanger's picture

I know killing people might sound a bit far-fetched, but you have to understand that sometimes, you have to tackle the problem at the source. If there is no unemployed people left, there is no unemployment, and the global economy can grow again.

Dr. J. M. Keynes PhD., Dr. Ben S. Bernanke PhD., Dr. Paul Krugman PhD. (Nobel Prize) have already worked on the subject. Keynes was proposing to euthanize people on fixed income, so why not euthanize unemployed people? This is common sense.

This may sound immoral or cruel, but sometimes patriotism and sacrifice for the common good are needed.

Fri, 02/04/2011 - 14:36 | Link to Comment equity_momo
equity_momo's picture

The next phase of the "War on Terror"  <cough> BS <cough> will take care of that.  Suitcase nukes or a draft to go and invade further into Middle-East Central Asia once the protectionist policies fail to beat down China.

Fri, 02/04/2011 - 14:37 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

So if I follow your correctly here Hamy, and I think I do, Nazi Germany was just trying to deal with a nasty unemployment situation. How could the history books have it so wrong?

Fri, 02/04/2011 - 14:46 | Link to Comment equity_momo
equity_momo's picture

I think Nazi Germany was dealing with a nasty jewish banker situation. The reason the Nazis existed in the first place can be traced back to the real axis of evil , the US and UK. In large part due to their meddling Jewish bankers.

Vast majority of history books are very good at explaining the micro but miss the macro. And the ones in the school system are re-written propoganda.

Whats that saying , history doesnt repeat but rhymes?

Fri, 02/04/2011 - 15:02 | Link to Comment trav7777
trav7777's picture

would have been easier to do what Putin did, just eject the oligarchs and leave the common jooz alone

Fri, 02/04/2011 - 15:12 | Link to Comment equity_momo
equity_momo's picture

Yes , and it would have saved us the current problem of making bad policy decisions based around guilt. Slavery and the holocaust - how those jewish oligarchs have leveraged the guilt associated with both.

Fri, 02/04/2011 - 15:59 | Link to Comment Pure Evil
Pure Evil's picture

Well, if that idiot Hitler didn't have a woody for smokin' all the Jews with Zyklon-B, he might have used them to help build a nuclear arsenal like the US did, and then he could have nuked the damn commie russians into submission.

Lebensraum all around comrades.

Fri, 02/04/2011 - 14:39 | Link to Comment DonnieD
DonnieD's picture

I believe this is already under way via food inflation. Dr. Bernanke will have the global unemployment rate down to 3% by the end of the year. He has already submitted his application for the Nobel Prize for Economics.

Fri, 02/04/2011 - 15:21 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

Sounds like social darwinism majors will become the new fad.

How about we remove subsidies for everything, minimize government and maybe ppl err.. useful idiots will stop fucking?

I like when Gordon Gekko points out corporate America [[incl. America]] represents survival of the unfittest.

Fri, 02/04/2011 - 14:25 | Link to Comment mynhair
mynhair's picture

Hey Hamy, can we just off all the Libs instead?

Fri, 02/04/2011 - 14:37 | Link to Comment Rogerwilco
Rogerwilco's picture

No, no, don't kill people, just bulldoze empty houses and create a shortage. That will bring back the 5 million Messicans who left when the housing industry collapsed. These were consumption-oriented, cash-payin' folks who really know how to get an economy purring again. We might even get some decent TexMex restaurants again in my little town.

Fri, 02/04/2011 - 15:06 | Link to Comment sbenard
sbenard's picture

The progressives have a plan for reducing the population, too! Once the EPA declared that the CO2 we all breathe out must be regulated, they set us up for the premise that some groups of "undesirables" can be "regulated" out of existence to reduce the population and thus, the CO2 emissions.

Eventually, they'll get the brilliant idea that we can eliminate certain people and thus reduce CO2. People that fall into that fateful category would include people who the elitists deem to be of less or no value, like the infirm, those who they deem to be born "defective", the pre-born (this one is already here), the elderly (Soylent Green, coming soon to an America near you), criminals, dissidents (like those to be found at ZH) who don't buy the government lie, and the politically unpopular and/or politically out of power. Progressives will clean up the planet by cleaning it of some (unwanted by them) people!

Don't laugh! If you study the history of progressivism and its philososphical roots, there are literally progressives who have discussed such ideas, including some who are working in the Obama White House at this very moment. What is unthinkable to most of us, is often thinkable to elitists who think of themselves as not only superior, but who consider themselves sooo much superior that they have a right to rule over everyone else!

Fri, 02/04/2011 - 16:59 | Link to Comment francis_the_won...
francis_the_wonder_hamster's picture

One of my favorite conspiracy theories....or at least I hope that's all it is:

http://www.americanthinker.com/2009/10/un_agenda_21_coming_to_a_neigh.html

 

 

Fri, 02/04/2011 - 14:25 | Link to Comment TheMerryPrankster
TheMerryPrankster's picture

There are of course two ways to decrease unemployment,

 

1. create more jobs

 

2. decrease the population, especially those of working age.

We know how far TBTB will go to provide financial support to the Too Big To Jail sector of our banana republic economy, will they be willing to go all out banana republic politics and begin purging the populations of malcontents, academics, and political enemies as well as anyone else such as landowners?

Can Chile and Argentina happen north of the equator?

Fri, 02/04/2011 - 14:25 | Link to Comment dick cheneys ghost
dick cheneys ghost's picture

a lot of those jobs were housing related (real estate, appraisers, construction etc) and they aint coming back. housing will suffer for yrs. its the new normal.

Fri, 02/04/2011 - 14:26 | Link to Comment r101958
r101958's picture

Hey, we'll get back to 5% UE in no time! ....all they need to do is lump another 5 million people that are actually UE into the group they now count as labor force 'non-participants'.

Fri, 02/04/2011 - 14:27 | Link to Comment RobD
RobD's picture

Only thing that will fix this is a good old fashion shootin war. Kill some useless eaters and get some some of that slack out of the economy.

Fri, 02/04/2011 - 15:54 | Link to Comment I Am The Unknow...
I Am The Unknown Comic's picture

shooting war, plague, genocide are all possible ways to immediately reduce the population.  Things like sterilization take too long to affect the numbers and starvation is more likely to lead to riots.  However, there may be another solution.....imprisonment.

I bet they have a special FEMA camp set aside for us here at ZH. 

Fri, 02/04/2011 - 14:28 | Link to Comment the rookie cynic
the rookie cynic's picture

Maybe we should do the National Census on a monthly basis. That would create lots of jobs so we can win the future.

Fri, 02/04/2011 - 18:45 | Link to Comment saulysw
saulysw's picture

Nice try, but I don't think you have gone far enough. Next we need to do a census of the census workers. This is a synthetic census if you like. Then you can slice the data up into pieces, perhaps by question groups. Then the data should be rated, so set up a bogus rating agency. AAA+ for the best bits, and BBB- for the worst, or something like that. Then we can sell this data to overseas supperannuation funds. If that doesn't create enough jobs and fake shit, I guess we can start a census of all the other countries of the world.

Fri, 02/04/2011 - 14:28 | Link to Comment r101958
r101958's picture

Hey, we'll get back to 5% UE in no time! ....all they need to do is lump another 5 million people that are actually UE into the group they now count as labor force 'non-participants'.

Fri, 02/04/2011 - 14:29 | Link to Comment TrihumpTheInsultDog
TrihumpTheInsultDog's picture

Nothing is happening except;

Uncle Ben avoided the iceberg and turned the bow headlong into the direction of the oncoming waves. Any rouge waves? Nope.

The Perfect Storm - Too good to be true
Credits:
Captain Bernanck - George Kloony
Turbo Timmy - Mark Wahlburg-stein
Deck Swabbing Guy - Marla?

Fri, 02/04/2011 - 14:32 | Link to Comment equity_momo
equity_momo's picture

5% UE wont be back for the next 10. In fact , the only way real UE is getting that low again is when we move to a fully fledged communist state , unlike the communist-lite we are navigating through now.

More food stamps please.

Fri, 02/04/2011 - 14:34 | Link to Comment RobotTrader
RobotTrader's picture

Looks as if the bad jobs number is being ignored.

Bears got screwed again.

I never short stock indexes when I see positive relative performance in the retail sector, now within a hairsbreadth of 2-year highs again.

Fri, 02/04/2011 - 14:43 | Link to Comment TrihumpTheInsultDog
TrihumpTheInsultDog's picture

Too bad, so sad. Got metals bitchez?

The Equity - Oily correlation. Get with it.

Fri, 02/04/2011 - 15:01 | Link to Comment plocequ1
plocequ1's picture

It looks that way. That pesky bond thing that they keep talking about is getting a little boring. Bonds? We dont need no stinking bonds. Just a little tender lovin' POMO                                     

Fri, 02/04/2011 - 14:38 | Link to Comment OMG
OMG's picture

Most popular story on CNN.com is.........................

Miley Cyrus gets tattoo No. 5

Fri, 02/04/2011 - 14:48 | Link to Comment TrihumpTheInsultDog
TrihumpTheInsultDog's picture

I've always thought that if ZH developed itself into a Wall St / TMZ.com hybrid they could give up the goldbug parade.

WTF happened to Cornelius? Can't he tell us who Lloyds latest chippie is? OMG! She's a he!

Fri, 02/04/2011 - 14:41 | Link to Comment Caviar Emptor
Caviar Emptor's picture

I think we can officially call it: the economy is "fine" and jobs are totally not important.

That's going to be the mindset of TPTB, MSM and financial news services going forward from here. They'll deflect criticism and blame government regulation, tax policy, baby boomers, lazy fat Americans, welfare queens, limousine liberals, spoiled young people who are nothing compared with their Chinese counterparts etc........

Just like 1982. It took until 1987 for many regions of the country to return to unemployment rates under 8%. Just in time for the 5 year slowdown and recession. But keep in mind what happened in the big picture: that was the second major downsizing of the Midwest, rust belt and American manufacturing. Those jobs never returned. So homelessness and long term unemployment skyrocketed as the unemployment rate dropped. Chimerica was still in its infancy so we hadn't started the major leg of offshoring of jobs yet, but that's when it got started. 

This time around we're not only downsizing the American workforce but we're downsizing domestic industry as US multinationals shift operations overseas to stay profitable. There's no chance that the service sector will pick up the slack as was theorized in 1982, because that too is being offshored. Now most health insurance giants are shifting. We're also at the end of the 30 year war on inflation and the fruits of that will be biflation: cost of doing business and living will rise in the face of declining economic activity. 

Fri, 02/04/2011 - 15:36 | Link to Comment newworldorder
newworldorder's picture

Congrats on a good memory Caviar Emptor:

Having worked 30+ years in corporate manufacturing, high tech and service industries your early 1980's memories are spot on, as are your conlusions on downsizing domestic industry.

While most of us on ZeroHedge understand what is going on, the political class are not able to connect the the dots or do not care to do so.

Untill they change or are compelled to change we will not see any marked improvement in our beloved land.

Fri, 02/04/2011 - 17:28 | Link to Comment trav7777
trav7777's picture

wrong.

they didn't offshore to "stay" profitable, they did so to become MORE profitable.  That is so executive bonuses and payscales could continue to explode vertically.

The 25:1 CEO/average ratio simply didn't sit well with the executive class, so they found a way to get that number up where they thought it belonged.  The days of sharing profits with owners via dividends and paying employees a fat cut of them simply wasn't acceptable.

Sat, 02/05/2011 - 00:06 | Link to Comment michigan independant
michigan independant's picture

Correct, We anounced 450 long term employees to twist in the wind. We all know how this will work out. Total consideration to be received of $180 million includes cash consideration of $165 million at closing and a Note for $15 million.  The sale is subject to customary closing conditions. This risk assesment was formulated last Summer to arrest Commodity exposures in mature markets since we have moved to other contracts. My first exposure was in 1979 to Divestitures, understood as the parent company's disposal and sale of assets, facilities, product lines, subsidiaries, divisions and business units and 1993. This was a risk aversion since basically there is still 17 percent oversupply in current Global supply side realities as I have discerned.

Fri, 02/04/2011 - 14:49 | Link to Comment buzzsaw99
buzzsaw99's picture

we don't need no steenking jobs!

Fri, 02/04/2011 - 14:54 | Link to Comment ColonelCooper
ColonelCooper's picture

Wrong, TD.

A gain of 36,000 jobs netted a drop of .4%.  At this rate, we will be back to 5% by the end of November.

Just ask Harry. 

Fri, 02/04/2011 - 15:14 | Link to Comment buzzsaw99
buzzsaw99's picture

+1

Fri, 02/04/2011 - 15:23 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

As fat-man Gibbs speaks, Gold/Silver ratio falls.

Silver moves up, gold flatlines.

Fri, 02/04/2011 - 15:24 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Where is the Hope & Change people can believe in?

Oh....SNAP.

Fri, 02/04/2011 - 15:25 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

We've sold our grandchildren out of it.

Just like Reps and Dems sold America to China.

Fri, 02/04/2011 - 16:08 | Link to Comment SheepDog-One
SheepDog-One's picture

They better believe in their SNAP cards, as its the only reason about 150,000,000 americans are eating at all today.

Fri, 02/04/2011 - 16:12 | Link to Comment HedgeFundLIVE
HedgeFundLIVE's picture

From a Duke MBA candidate perspective, yes, we are hiring.

http://www.hedgefundlive.com/blog/the-business-school-hiring-index

Fri, 02/04/2011 - 16:31 | Link to Comment TruthInSunshine
TruthInSunshine's picture

I don't know if you are the author of that, or not, but it doesn't say "yes, we are hiring." It says, essentially, "I just paid a ton of money for a MBA, and I compiled a bunch of useless, statistical noise, came to a coin-flip like guess, and then admitted everything supporting my position that they'll be hiring and I'll be able to service my student loan debt is based on 'faith'."

Fri, 02/04/2011 - 17:31 | Link to Comment UIC
UIC's picture

Quote the day from Bloomberg:

“The unemployment rate has tended to be a more trustworthy measure over time,” said Maki, who is chief U.S. economist at Barclays in New York. “Job growth is likely stronger than recent payroll numbers have printed. The payrolls tend to undercount job losses in recessions, but also undercount job gains when the labor market picks up.”

Sat, 02/05/2011 - 13:33 | Link to Comment Wags
Wags's picture

The number of people in the job force is on a ten year decline. That should scare the crap out of every bond holder in the USA. In truth the only real asset is a productive work force. What the Fed & the OIbama Administration is doing is pure folly.

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