BLS

Tyler Durden's picture

The Euthanasia Of The Saver





American banks have largely gained from low interest rates, British banks have suffered losses as a result and in the Eurozone they have been hugely detrimental to banks’ profitability. The ones who have undoubtedly lost out were those quintessential Keynesian villains: the savers. The medicine prescribed by the central banks to correct their “bad” ways has cost them billions. And given that yields have continued to go down since McKinsey's report was published, their misery has only increased. More high fives from Keynes! And yet, even within those groups the impact has been uneven. Who in the household segment is suffering the most because of ultra-low interest rates? The retirees, of course.

 
StalingradandPoorski's picture

Jason Furman Gets the NFP Report the Night Before the Official Release, Does Anyone Else?





"You're the man who brings the President the jobs numbers on Thursday night, the Thursday night before everyone gets to see them."

 
Tyler Durden's picture

Baker Hughes Cuts 17% Of Workforce As Oil Slump Ripples Through Economy





Baker Hughes has increased the number of jobs it plans to cut from 7,000 to 10,500 and will close 140 facilities worldwide citing a need to "reduce the cost base and resize [the company's] footprint" in the face of challenging market conditions. Meanwhile, JPM reminds Richard Fisher that "the only thing dropping in the Texas economy is the number of jobs."

 
Tyler Durden's picture

3 Things: Retail Sales, Real Unemployment, Optimism





Over the past several weeks we have heard repeated comments that you should ignore the recent retail sales weakness for a variety of reasons such as cold winter weather, consumers don't believe the drop in gas prices, etc. Putting aside the fact that cold weather almost always occurs during winter (which is why the data is seasonally adjusted to begin with), or that more than 70% of Americans are living paycheck-to-paycheck, should we dismiss the data entirely?

 
Tyler Durden's picture

More Than Half Of Welfare Spending Goes To Working Families





"Nearly three-quarters (73 percent) of enrollees in America’s major public support programs are members of working families; the taxpayers bear a significant portion of the hidden costs of low-wage work in America," a new study finds, suggesting that when it comes to straining the public purse, "bad" jobs may be a bigger problem than "no" jobs.

 
Tyler Durden's picture

Confusion Over US Unemployment Continues





Unemployment is the one statistic that one would have thought is easy to define: just total up the number of people on unemployment benefit and there's your answer.

 
Tyler Durden's picture

Truth - The Cure For Cognitive Dissonance





“In a time of deceit telling the truth is a revolutionary act.” ? George Orwell

“You shall know the truth and the truth shall make you mad.” ? Aldous Huxley

 
Tyler Durden's picture

5 Things To Ponder: Don't Fight The Fed





Randolph Duke: Money isn't everything, Mortimer.
Mortimer Duke: Oh, grow up.
Randolph Duke: Mother always said you were greedy.
Mortimer Duke: She meant it as a compliment.

 
Tyler Durden's picture

Job Cuts In Industries "Closely-Related" To Oil Likely To Triple, Goldman Says





"We find that in previous oil-sector downturns, job growth in non-energy sectors that are closely related to the oil & gas industry has declined by three to four times as much as the decline in oil & gas employment itself," Goldman says, implying we're likely to see a substantial number of cuts in the months ahead.

 
Tyler Durden's picture

Latest Weekly Initial Claims Of 281K Better Than Expected, Under 300K For Fifth Straight Week





After the abysmal March payrolls number, there were expectations in the whisper forecast of today's initial claims that there would be a sizable jump in initial unemployment claims, one that may break the streak of 4 consecutive prints under 300K. It did not happen, and in fact the number which was released moments ago by the BLS indicated continued strength in the US labor market, where there was 281K initial claims in the past week, just under the 283K expected and higher than the revised 267K from last week. This is the lowest level for this average since June 3, 2000 when it was 281,500. The previous week's average was revised down by 250 from 285,500 to 285,250.

 
Tyler Durden's picture

15 Years Of Stimulus - Nothing To Show





At this point 15 years ought to count for something. After all, we have now used up one-seventh of this century. So you can’t say its too early to tell what’s going on or to identify the underlying trends. So, after another Jobs Friday: here is the tally: The number of breadwinner jobs in the US economy is still 2 million below where it was when Bill Clinton still had his hands on matters in the Oval Office.

 
Tyler Durden's picture

Was This It For America's "Hiring Spree"?





As the following chart shows, whereas in the past the total number of hires tracked closely the cumulative 1 year change in jobs, this time is has failed to do so, and as the chart below shows, the hires rate has dropped sharply, and at 4.916MM was not only the lowest since August but also represents the biggest two-month drop since Lehman!

 
Tyler Durden's picture

Spin-O-Nomics In A World Of Unraveling Globalism





The USA set the tone for 21st century magical finance, in which “wealth” was “created” by digital accounting fraud. The effects at home are visible on our landscape of suburban hyperwaste and decrepitating older towns and cities.

 
Tyler Durden's picture

Americans Not In The Labor Force Soar To Record 93.2 Million As Participation Rate Drops To February 1978 Levels





So much for yet another "above consensus" recovery, and what's worse it is, well, about to get even worse, because while the Fed keeps baning some illusory drum that slack in the economy is almost non-existent, the reality is that in March the number of people who dropped out of the labor force rose by yet another 277K, up 2.1 million in the past year, and has reached a record 93.175 million. Indicatively, this means that the labor force participation rate dropped once more, from 62.8% to 62.7%, a level seen back in February 1978, even as the BLS reported that the entire labor force actually declined for the second consecutive month, down almost 100K in March to 156,906.

 
Syndicate content
Do NOT follow this link or you will be banned from the site!