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155,000 Jobs Added in December, Unemployment Rate 7.8%

Tyler Durden's picture





 

A surprisingly uneventful report, as BLS reports that 155,000 Jobs were added in December, right on top of the 156,000 expected, and in line with the number needed to keep up with the growth in the population, or at least the Old Normal growth. The unemployment rate was 7.8%, vs the 7.7% expected: who else is surprised that the rate is now rising with Obama reelected and when a lower unemployment rate means an earlier end to QE4EVA? The November unemployment rate was revised from 7.7% to 7.8%, just so headlines can proclaim the rate was unchanged, even though it was fractions away from a 7.9% print, compared to November initial 7.7%. According to the Household survey a materially less, or 28,000 jobs were added even as the number of unemployed rose by 164K. Average hourly earnings for all employees rose 0.3% in December from November, compared to the 0.2% expected. The confusion continues as the BLS reports retail jobs were mysteriously down by 19,000 even as every retailer announced it was hiring the kitchen sink, while manufacturing jobs supposedly rose by 25,000 while the ADP report reported 6 months of reductions in a row. Construction jobs increased by 30,000. The Underemployment rate, U-6, remains steady at 14.5%. ADP, which will certainly be revised lower now, remains a farce.

The labor force participation rate: 63.6%, same as November:

A job breakdown from the report:

Total nonfarm payroll employment increased by 155,000 in December. In 2012, employment growth averaged 153,000 per month, the same as the average monthly gain for 2011. In December, employment increased in health care, food services and drinking places, construction, and manufacturing.

Health care employment continued to expand in December (+45,000). Job gains occurred in ambulatory health care services (+23,000), in hospitals (+12,000), and in nursing and residential care facilities (+10,000). In 2012, health care employment rose by 338,000.

In December, employment in food services and drinking places rose by 38,000. In 2012, the industry added an average of 24,000 jobs a month, essentially the same as in 2011.

Construction added 30,000 jobs in December, led by employment increases in construction of buildings (+13,000) and in residential
specialty trade contractors (+12,000).

In December, manufacturing employment rose by 25,000, with small gains in a number of component industries. In 2012, factory employment increased by 180,000; most of the growth occurred during the first quarter.

Employment in retail trade changed little in December, after increasing by 143,000 over the prior 3 months. Within the industry, employment in clothing and accessories stores fell by 19,000, following gains that totaled 55,000 over the prior 3 months. Elsewhere in retail trade, employment in automobile dealers and in food and beverage stores continued to trend up in December.

Employment in other major industries, including mining and logging, transportation and warehousing, financial activities, professional and businesses services, and government, showed little change over the month.

In December, the average workweek for all employees on private nonfarm payrolls edged up by 0.1 hour to 34.5 hours. The manufacturing workweek edged up by 0.1 hour to 40.7 hours, and factory overtime was unchanged at 3.3 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls edged up by 0.1 hour to 33.8 hours.

 


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Fri, 01/04/2013 - 09:34 | Link to Comment LoneStarHog
LoneStarHog's picture

BULLSHIT!!!!!

Fri, 01/04/2013 - 09:35 | Link to Comment Shocker
Shocker's picture

Even though its reported things are getting better, we still have a long ways to go
Check the layoff/closing list

http://www.dailyjobcuts.com

Fri, 01/04/2013 - 09:35 | Link to Comment N. B. Forrest
N. B. Forrest's picture

Obama has been re-elected, so I guess they can start slowly moving that unemployment rate back up to where it really is.

Fri, 01/04/2013 - 09:38 | Link to Comment MFLTucson
MFLTucson's picture

Going to take a while to get to 22%.

Fri, 01/04/2013 - 09:44 | Link to Comment IvyMike
IvyMike's picture

Almost there!

"I favor full unemployment." ~Bob Black, The Abolition of Work

http://www.whywork.org/

Fri, 01/04/2013 - 09:51 | Link to Comment rsnoble
rsnoble's picture

Good website. I went that route years ago.

I like listening to all my pro-union friends "if this shop closes ill lose everything, my house, wife will probably divorce me and take the kids etc etc etc".

Let me ask this............is that the type of security a union job offers? LOL. No one is safe.

Fri, 01/04/2013 - 10:05 | Link to Comment AlaricBalth
AlaricBalth's picture

Two questions.
1) How does an anarcho-primitivist resolve the paradox of using the Internet to spread his message?
2) How is Ted Kaczynski doing?

Fri, 01/04/2013 - 10:09 | Link to Comment IvyMike
IvyMike's picture

Are you against unjustly convicted political prisoners using the prison's facilities, City-Statism (Civilization) lover?

And, according to the University of Michigan philosophy department, Ted Kaczynski is a "potentially a kind of savior."

The Unabomber's Pen Pal | May 20, 2012
The Chronicle of Higher Education
http://chronicle.com/article/The-Unabombers-Pen-Pal/131892/

How's them apples, ya damn City-Statist!?!?

Fri, 01/04/2013 - 10:40 | Link to Comment AlaricBalth
AlaricBalth's picture

Argumentum ad hominem.
I expected a more cogent rebuttal.
All the best.
Next!

Fri, 01/04/2013 - 13:22 | Link to Comment IvyMike
IvyMike's picture

"How's Ted K." is an attempt to smear. Pot, Kettle, Black. All the best to you too, ever so sincerely.

Fri, 01/04/2013 - 10:41 | Link to Comment sessinpo
sessinpo's picture

And you still haven't answered the questions posed to you.

 

I am not for or against you. I encourage debate. You were asked two specific questions and you DODGED them by responding with questions meant to attack the character of the repondent. That doesn't speak very well of you.

Fri, 01/04/2013 - 11:11 | Link to Comment Ralph Spoilsport
Ralph Spoilsport's picture

(Poison)IvyMike isn't here for debate. He's just a troll and maybe a trollbot since it seems pretty stupid.

Fri, 01/04/2013 - 13:23 | Link to Comment IvyMike
IvyMike's picture

Argumentum ad hominem. Do you think your buddy will point that out? No? Why not? He's not that honest? LOLbertarians never are.

Fri, 01/04/2013 - 13:22 | Link to Comment IvyMike
IvyMike's picture

Dodging my answer? Oh dear, that doesn't speak well of you.

Fri, 01/04/2013 - 09:50 | Link to Comment t0mmyBerg
t0mmyBerg's picture

Awesome.  Laughed at that.  You have to hand it to Barry though.  He picked a truly goldilocks number today right?  Like the immediately preceding post intimated, anything like the nasty ADP number over 200,000 would unravel the carefully controlled script and force the US out of its cozy but shrinking corner.  And of course anything lower would smack of incompetence for the central planners.  I was on the floor then and I remember limit down 30 year bond.  Today it would more or less immediately cause debt servic eto surpass 10% of revenue on its way to Japan like proportions.  Then the equities would bounce off that triple top we have here and if you believe the fed, main street would just pack up and crawl into their hidey hole.  Aint reflexivity a bitch?

Fri, 01/04/2013 - 10:23 | Link to Comment Yes_Questions
Yes_Questions's picture

 

 

NOPE, Just a couple of clicks away:  http://www.shadowstats.com/alternate_data/unemployment-charts

 

Fri, 01/04/2013 - 10:04 | Link to Comment Snakeeyes
Snakeeyes's picture

Employment to population fell to 58.6%. That's a heap of people to drag along on their backs.

http://confoundedinterest.wordpress.com/2013/01/04/housing-angst-u6-unem...

Fri, 01/04/2013 - 09:54 | Link to Comment Snakeeyes
Fri, 01/04/2013 - 10:00 | Link to Comment ejmoosa
ejmoosa's picture

53,000 fewer jobs added in the 4th quarter of 2012 versus 2011.

The rate of year over year job growth fell from 1.41% at the end of 2011 to 1.40% at the end of 2012.

December 2011 we added 223k in jobs. 

December 2012 155k.

 

This was as good as it gets.

Fri, 01/04/2013 - 10:09 | Link to Comment Sudden Debt
Sudden Debt's picture

Today Mercedes anounced that it had sold more cars in America than it did in Germany.

where does this add up?

Fri, 01/04/2013 - 10:12 | Link to Comment Boilermaker
Boilermaker's picture

They are producing cars here now, also.  They aren't all imported by any means.  Same with VW.

Fri, 01/04/2013 - 10:35 | Link to Comment otto skorzeny
otto skorzeny's picture

saw an empty car lot by a closed business that is full of hundreds of new Chryslers/Dodges that the dealer does not have room for on his own overdstuffed lot-he must be renting the spaces.

Fri, 01/04/2013 - 10:26 | Link to Comment negative rates
negative rates's picture

It adds, and ends up as excess heat, transfered to the working underdesigned parts, all in an effort to keep the people working. It's called the partnership, you pay to buy, and continue to pay to maintain. All to keep the people working, and to pay the politicians at the pulpit. 

Fri, 01/04/2013 - 11:09 | Link to Comment HangSorosHigh
HangSorosHigh's picture

1) Population and per-capita GDP are a lot higher in the US than in Germany.

2) Polarisation of income - instead of three people who can afford a Lincoln, we now have one person who can afford a solid gold, diamond-encrusted SLS AMG and two people who are unemployed because their jobs got replaced with computers.

Fri, 01/04/2013 - 15:01 | Link to Comment EscapingProgress
EscapingProgress's picture

The unemployment rate is not 7.8%. The US government's officially published headline unemployment percentage is 7.8%.

Fri, 01/04/2013 - 09:35 | Link to Comment Boilermaker
Boilermaker's picture

So...more QE...right?

Futures go up...I love this shit.  I really do.

Fri, 01/04/2013 - 09:39 | Link to Comment Karlus
Karlus's picture

Easy money, fade that blip

Fri, 01/04/2013 - 10:13 | Link to Comment SheepDog-One
SheepDog-One's picture

Just as Goldulocks-ish as it coulda possibly been!

Anyone actually BELIEVE any of this utter bullshit?

Fri, 01/04/2013 - 10:41 | Link to Comment ZeroAvatar
ZeroAvatar's picture

Goldi locks in the 3 bears........but they'll get out, eventually.

 

Then Goldi will have a run at $2,500.

Fri, 01/04/2013 - 09:35 | Link to Comment rguptatx
rguptatx's picture

Where is the participation rate, U6, U7?

Fri, 01/04/2013 - 09:41 | Link to Comment lolmao500
lolmao500's picture

It doesn't exist in the BLS world.

Fri, 01/04/2013 - 09:35 | Link to Comment Dr. Engali
Dr. Engali's picture

No worries Ben...keep printing the BLS will give you all the bullshit cover you need.

Fri, 01/04/2013 - 09:35 | Link to Comment achmachat
achmachat's picture

155,000 jobs added.

these include the 155,000 who were temporarily hired to come up with this report. 

 

Fri, 01/04/2013 - 09:35 | Link to Comment cossack55
cossack55's picture

Mark "Prick Face" Zandi for president 2016!

Fri, 01/04/2013 - 09:36 | Link to Comment Cursive
Cursive's picture

Can we get a Biden quote on this?  Where are the 500,000+ he promised us?

Fri, 01/04/2013 - 10:14 | Link to Comment SheepDog-One
SheepDog-One's picture

Biden is busy writing up the new gun ban and NDAA 'prefect citizen guidelines' legislation right now. BTW thats not a joke its true.

Fri, 01/04/2013 - 10:33 | Link to Comment otto skorzeny
otto skorzeny's picture

he can write? that's pretty impressive for an Irishman

Fri, 01/04/2013 - 10:49 | Link to Comment sessinpo
sessinpo's picture

I am so glad I bought the guns I wanted and stocked up on ammo years ago.

 

Now I have people, that I advised to do the same coming to me. Sigh.

 

I'm also glad a have a portion of my assets in PMs. I know I have bashed PM bugs, but as I've stated, I do believe it is prudent ot have a portion of your assets in PMs if the Dollar breifly goes insolvent.

 

Is it gratifying to have people with a Masters or Doctorate degree come to me for advise (only having a partial college degree). Not really - they are still lost. They have NO critical thinking skills.

In other words - they would do as I tell them. Pretty pathetic. I don't want to be their government and they are too pathetic to realize that they are wanting me to be their next master.  But I have bad news for them, one woman is a hand full for me and I don't have that much time for them.

Fri, 01/04/2013 - 09:36 | Link to Comment BeetleBailey
BeetleBailey's picture

LOL.................suuuuuuuuuuuuuuuuuuuuuuuuuuure

Fri, 01/04/2013 - 09:38 | Link to Comment MFLTucson
MFLTucson's picture

Too bad no one believes any of these reports. We have been lied to so long this has become more of a comedy act than anything. And, oh by the way, after the holidays, all those folks working in retail will be out of work.

Fri, 01/04/2013 - 09:36 | Link to Comment AU5K
AU5K's picture

Nothing to see here.  Please move along.  Continue to press "buy".  Thank you.

Fri, 01/04/2013 - 10:29 | Link to Comment Yes_Questions
Yes_Questions's picture

 

 

Welcome to COSTCO, I love you.

Fri, 01/04/2013 - 09:36 | Link to Comment slaughterer
slaughterer's picture

Goalseeked NFP: not too much (for QE off), not too little (for anti-O discontent).  

Big question is if it will stop the pukefest in PMs currently filling the CFTC vomitorium.  

Fri, 01/04/2013 - 09:38 | Link to Comment Cursive
Cursive's picture

@slaughterer

Thank you.  I was just asking this question below.  So it is goldilocks again....

Fri, 01/04/2013 - 09:39 | Link to Comment fonzannoon
fonzannoon's picture

How many jobs were added last Dec? I thought we were in the mid 200's. This number seems shitty. How many of these jobs were seasonal?

Fri, 01/04/2013 - 10:08 | Link to Comment ejmoosa
ejmoosa's picture

223,000 were added last December.  Not one reporter mentioned it that I saw.

Fri, 01/04/2013 - 10:11 | Link to Comment fonzannoon
fonzannoon's picture

Thanks for the info. Funny how that works.

Fri, 01/04/2013 - 09:42 | Link to Comment Dr. Engali
Dr. Engali's picture

Let them puke the PMs up...I will be glad to buy their panic. Maybe a good purging is what the PMs need. If anybody believe Ben will ever stop printing they are an idiot.

Fri, 01/04/2013 - 09:46 | Link to Comment fonzannoon
fonzannoon's picture

Yup. This is a battle of attrition. That's all it is.

Fri, 01/04/2013 - 10:19 | Link to Comment youngman
youngman's picture

Strange trade the last two days in PM´s.....but yet treasury rates going up.....oil up too.....PM´s are an outlier for some reason....my take.....the big boys are taking it down to buy it.....they see the writing on the wall......the wall is closer right now...I think this year...if we have two weeks of bond dumpimg....its a whole new ballgame

Fri, 01/04/2013 - 10:13 | Link to Comment Proofreder
Proofreder's picture

Au & Ag simply moving from weak hands to strong hands.  

BTFD 'cause it won't last long; below 1630 for less than two hours early today.

Wonder how the miners will do at the open - please panic so I's kin git s'more.

Fri, 01/04/2013 - 09:39 | Link to Comment Sandy15
Sandy15's picture

after the election companies were laying off employees big time, hurricane Sandy caused massive job losses, these numbers are crap, crap, crap..........

 

The Bernack is having his minions sell the dollar to force the market up again...... print, wash, repeat, print, wash, repeat

Fri, 01/04/2013 - 09:37 | Link to Comment Cursive
Cursive's picture

Is this "good" enough to be bearish because it means no more QE?  Or is it "bullish" because it sucks?

Fri, 01/04/2013 - 09:38 | Link to Comment slaughterer
slaughterer's picture

Neither, that is the point: let the algos play with indecision.   

Fri, 01/04/2013 - 09:37 | Link to Comment ziggy59
ziggy59's picture

More Goldilocks Ben BS...AKA...Controlled Financial Demolition

Fri, 01/04/2013 - 09:38 | Link to Comment icanhasbailout
icanhasbailout's picture

Either these numbers have to be accompanied by the latest "rolled off the rolls and out of the workforce" number or we need a new metric entirely.

Fri, 01/04/2013 - 09:38 | Link to Comment Cdad
Cdad's picture

Prepare for equity market talking heads over at the BlowHorn to now start paying attention to the labor participation rate as a great thing...after ignoring its collapse for the last four years.  Cue Steve Liesman.

Fri, 01/04/2013 - 09:39 | Link to Comment Dr. Engali
Dr. Engali's picture

Just the right number to keep Ben printing while at the same time " showing some progress". I love the smell of bullshit propoganda in the morning.

Fri, 01/04/2013 - 09:50 | Link to Comment Notarocketscientist
Notarocketscientist's picture

But I remember yesterday's headline said The Printing Might Stop

Was that bullshit?   Were they lying - to inspire CONfidence that next year we would be once again 'LIVING LARGE'?

Say it isn't so.  I want to Live Large

Fri, 01/04/2013 - 09:39 | Link to Comment MFLTucson
MFLTucson's picture

The labor force participation rate: 63.6%, same as November:

 

Read up before commenting on this bullshit report!

Fri, 01/04/2013 - 09:40 | Link to Comment Shizzmoney
Shizzmoney's picture

This is actually a miss to me, considering the fact that I expected a much higher number due to the retail sector ramp-up for the holidays (which then get corrected in April/May when they let those people go....or they quit because retail jobs SUCK).

Sustained Stagflation is the New Normal, and breaking even is the new "wealth". 

Thanks, ZIRP!

Fri, 01/04/2013 - 09:43 | Link to Comment El Hosel
El Hosel's picture

Tyler,

 How about  overlay a chart of Stock Market participation / Volume decline.  Its the new..... "I Give UP" Normal!

Fri, 01/04/2013 - 09:55 | Link to Comment adr
adr's picture

Seasonal hires for retail are added in November. The average seasonal worker gets 14 hours per week at $9.25 per hour. There are a lot of stock room people who are hired the last week of december for inventory cleanup, but these are all temp agency hires for one to two weeks max.

All seasonal hires are dropped the first week of January and regular full and part time workers see their hours cut in half. The store manager and assistant manager will still get 35-40 hours, the other workers will be lucky to see 20.

Only the BLS would count a part time two week temp job as a job. In fact only full time jobs should count as jobs created.

One other thing is that I am surprised we still have over 400k people per week filing for unemployment, the part time hires aren't eligible. So that means we still have a mass hemmorage of full time higher wage jobs four years after the onset of "The Crisis".

Fri, 01/04/2013 - 10:07 | Link to Comment Shizzmoney
Shizzmoney's picture

Excellent points here.  Although a few addendums:

The store manager and assistant manager will still get 35-40 hours, the other workers will be lucky to see 20.

In every store I worked in, the managers actually had to work MORE hours after the holidays, mostly due to after-hours inventory rechecks (I always volunteered to help when I worked retail, mostly for the OT).  For the grunts, 100% agree; I just had a buddy lose a job at a retail store (only to get another one) right after XMAS ended.

Only the BLS would count a part time two week temp job as a job.

ADP is WORSE at this, hence why their numbers are always inflated and off.  Someone who works 3 temp gigs in a month is counted like 3 jobs, it seems.

So that means we still have a mass hemmorage of full time higher wage jobs four years after the onset of "The Crisis".

Well, IMO, this has been happening for 30 years; it's just "louder" and more obvious now, and is reflected in personal spending, which in turn, will effect the economy (especially the retail sector).

Well, it SHOULD.  But to the govenrment, as long as CEOs keep buying yachts and more houses, shits all good to them.

Fri, 01/04/2013 - 10:10 | Link to Comment Eally Ucked
Eally Ucked's picture

5 years*52weeks*400k initial claims=104 million initial claims, ha,ha, ha

Fri, 01/04/2013 - 09:41 | Link to Comment realtick
realtick's picture

The Chicago Boys Are Done Manipulating The UNRATE

http://chartistfriendfrompittsburgh.blogspot.com/2013/01/the-chicago-boy...

Fri, 01/04/2013 - 09:43 | Link to Comment fonzannoon
fonzannoon's picture

everyone on TV talking about the big bond selloff. Funny.

"I think the way to hedge against it is to....(pensive thought silence)......(epiphany)....buy some more equities.

Fri, 01/04/2013 - 09:41 | Link to Comment gimli
gimli's picture

When in doubt buy more gold and silver ..... currently on sale during New Year's week

Fri, 01/04/2013 - 09:56 | Link to Comment scatterbrains
scatterbrains's picture

Can yall niggas wait until mid 1350ies before we start jumping into gold please? I've been waiting since back in may for a lower channel line touch and go..

 

http://fiatflaws.blogspot.com/2012/12/if-gld-breaks-150-look-for-135-nex...

Fri, 01/04/2013 - 09:42 | Link to Comment Cloud9.5
Cloud9.5's picture

January 21, 1930

“Definite signs that business and industry have turned the corner from the temporary period of emergency that followed deflation of the speculative market were seen today by President Hoover. The President said the reports to the Cabinet showed  the tide of employment had changed in the right direction.”

– News dispatch from Washington.

Fri, 01/04/2013 - 09:43 | Link to Comment Sudden Debt
Sudden Debt's picture

anybody remember the crisis of 2008 till 2009?

man that was really something...

I know it's been a long time ago, but in that era, people really had it hard you know!

I know, I know... history... I'm old because I keep talking about shit that happened so long ago... but still!

I still believe that one day, we'll have a great movie about that period in time!

Fri, 01/04/2013 - 10:11 | Link to Comment Water Is Wet
Water Is Wet's picture

That was the most brutal few days of my life, but then Bernank started printing money so the sun could come out again and the flowers could bloom.

Fri, 01/04/2013 - 09:43 | Link to Comment lolmao500
lolmao500's picture

And then how many entered the workforce... 250 000?

Fri, 01/04/2013 - 09:44 | Link to Comment Sudden Debt
Sudden Debt's picture

250K? that's a lot of school dropouts!

 

Fri, 01/04/2013 - 10:56 | Link to Comment pinqy
pinqy's picture

The Labor Force increased by 192,000

+28,000 Employed, +164,000 Unemployed.

Fri, 01/04/2013 - 09:46 | Link to Comment UGrev
UGrev's picture

PLEASE stop with the 7.8 bullshit unless it's followed with /sarc.   and then I read the rest of the article. ... carry on.

Fri, 01/04/2013 - 09:44 | Link to Comment djsmps
djsmps's picture

At least David Sokol is innocent.

Fri, 01/04/2013 - 09:45 | Link to Comment John McCloy
John McCloy's picture

Come on Tyler..hit us with the B/D model Unicorn jobs figure.

Fri, 01/04/2013 - 09:49 | Link to Comment sablya
sablya's picture

The market proves it is STILL only about QE.  With the unemployment rate disappointment, the market rises, silver slightly recovers from its beat down.  Dollar is up, interest rates are up, stocks are up, PMs are down.  So, people are moving out of bonds and metals into stocks.

Fri, 01/04/2013 - 09:47 | Link to Comment slaughterer
slaughterer's picture

If the lower limit of the upward channel on gold breaks, expect $1500.

Fri, 01/04/2013 - 09:51 | Link to Comment Sudden Debt
Sudden Debt's picture

I not only junked you, but I would also defriend you from facebook if I where on it!

Fri, 01/04/2013 - 09:57 | Link to Comment fonzannoon
fonzannoon's picture

I am going the other way. I green arrowed him. But 1,500 is not enough. Doc Engali is right. Let's knock this bitch down to 1k. I want a discount. I fugure that gets the 10yr over 3.5% too and the dual panic would be really fun to watch.

Fri, 01/04/2013 - 09:58 | Link to Comment Dr. Engali
Dr. Engali's picture

I agree...knock gold down and scare out the weak hands. Then we can start the next leg up.

Fri, 01/04/2013 - 10:04 | Link to Comment fonzannoon
fonzannoon's picture

I have bad news to report to everyone. I just got to the coin shop and the head of the chinese and russian central banks and the entire population of India is in front of me on line trying to sell their physical holdings. Dammit!

Fri, 01/04/2013 - 10:31 | Link to Comment negative rates
negative rates's picture

Real or fake physical? Don't fake it!

Fri, 01/04/2013 - 10:04 | Link to Comment Sudden Debt
Sudden Debt's picture

Let's make a deal :)

We let it rise to 1900$ so I can sell my calls with a huge profit and than we sink it to 500$ so we can all buy it with a discount.

But me first :)

Fri, 01/04/2013 - 10:06 | Link to Comment fonzannoon
fonzannoon's picture

well considering my lack over control over the situation, I will just continue to sit here and make stupid comments and waste away and if it works out for you I will be happy for you.

Fri, 01/04/2013 - 09:46 | Link to Comment adr
adr's picture

Remember, just like spending $550 billion instead of $560 billion, when you spent $500 billion last year, is a $10 billion spending cut not a $50 billion increase.

With seasonal adjustments, if 300k people lost jobs in the month last year, but this year only 200k people lost jobs, that is a 100k job gain.

When they changed the BLS counting method, it immediatly added 100k bullshit jobs to the count every month. Q3 GDP was actually negative, just like Q4 employment. But you won't get the truth from the government or the complicit media.

How can I be sure I am right and they are wrong? I work and sell to the real economy and get true hard sales numbers every month. I don't get the luxury of seasonaly adjusting my sales to look better. For me to do that would be illegal.

Fri, 01/04/2013 - 09:48 | Link to Comment booboo
booboo's picture

I don't think this jalopy will make it to the cliff. I see a rusted and burned out heap of rat infested what was a 69 Chevelle muscle car sitting on blocks 12 feet from the abyss with the skeletal remains of the driver gripping the steering wheel and a moth eaten Obama/Biden hat perched on his skull

Fri, 01/04/2013 - 09:49 | Link to Comment drivenZ
drivenZ's picture

"who else is surprised that the rate is now rising with Obama reelected? The November unemployment rate was revised from 7.7% to 7.8%, just so headlines can proclaim the rate was unchanged."

 

wow, you guys sound desperate. 

Fri, 01/04/2013 - 09:50 | Link to Comment Tsar Pointless
Tsar Pointless's picture

Noisy in here today.

http://bls.gov/news.release/empsit.t01.htm

Here are the unadjusted figures:

U3: 7.6% (up from 7.4%)
Emp-Pop Ratio: 58.5% (down from 58.8%)
Employed: -500k
Unemployed: +440k
U6: 14.4% (up from13.9%)

Fri, 01/04/2013 - 09:52 | Link to Comment Dumpster Fire
Dumpster Fire's picture

So how many years has it been now since the BLS revised their numbers upward?

 

Vegas bitches.

Fri, 01/04/2013 - 09:52 | Link to Comment the not so migh...
the not so mighty maximiza's picture

It like having a recovery and now one showed up.

Fri, 01/04/2013 - 09:54 | Link to Comment Barry McBear
Barry McBear's picture

ADP a farce?  But Liesman actually said that he was impressed the way ADP "guided the market" to the correct expectation of nonfarm.

Fri, 01/04/2013 - 09:56 | Link to Comment Dr. Engali
Dr. Engali's picture

In the age of made up numbers  Liarman is once again proving how big of a tool he actually is.

Fri, 01/04/2013 - 10:32 | Link to Comment negative rates
negative rates's picture

Or not, NOT!

Fri, 01/04/2013 - 09:56 | Link to Comment Shizzmoney
Shizzmoney's picture

Charting the state of the U.S. economy: EPI's Top Charts of 2012

In November 2012, the labor market had 3.7 million fewer jobs than when the recession began in December 2007. And, because the potential labor force grows as the population expands, the economy should have added 5.2 million jobs since December 2007 just to keep the unemployment rate stable. Counting jobs lost and jobs that should have been added, the U.S. economy has a jobs shortfall of 8.9 million.

How is a labor shortfall of 8.9 million a "recovery"? 


Fri, 01/04/2013 - 09:59 | Link to Comment virgilcaine
virgilcaine's picture

Bullish for the Hawaiian tourist industry.

During the last Depression Herbert Hoover spent most of his time fly fishing, Body surfing is how the current chooses to pass the time.

Fri, 01/04/2013 - 10:04 | Link to Comment SheepDog-One
SheepDog-One's picture

No one cares about jobs anymore, where's da FREE MONEY at??

Fri, 01/04/2013 - 10:22 | Link to Comment Shizzmoney
Shizzmoney's picture

It was used to buy bad MBS from JPMorgan and Bank of America

Fri, 01/04/2013 - 10:04 | Link to Comment caimen garou
caimen garou's picture

bullish for the band-aid factory, need to rename this country to the United States of bullshit, patches, and temporary fixes!

Fri, 01/04/2013 - 10:05 | Link to Comment All Out Of Bubblegum
All Out Of Bubblegum's picture

Utter horse hockey. The true rate is upwards of 20%. Anyone that still takes any Federal agency seriously needs to ungullify their sucker instinct.

 

http://www.shadowstats.com/alternate_data/unemployment-charts

Fri, 01/04/2013 - 10:47 | Link to Comment pinqy
pinqy's picture

Have you done the math? To get his 22.9%, Williams is adding about 17 MILLION more people on top of the U6. And yet there are only about 4 million people who say they want to work who are not already included in the U6 (because of unavailability or haven't looked for work in over a year).  So where's he getting 17 million from?

And keep in mind that the U6 includes about 8 million people who are working, but not as many hours as they want.

Fri, 01/04/2013 - 10:10 | Link to Comment agNau
agNau's picture

Is "employment in drinking places" in the BLSBS world, the same as patronage in drinking places? If so then we have a glimpse of future trends. "I swipe my EBT, swipe my EBT!"

Fri, 01/04/2013 - 10:17 | Link to Comment Getting Old Sucks
Getting Old Sucks's picture

They started counting Honor Bars where patrons pouring their own drink and ringing it up themselves are considered employees.

Fri, 01/04/2013 - 10:12 | Link to Comment ekm
ekm's picture

Ahhhh?

 

Is there still a payroll report?

Fri, 01/04/2013 - 10:15 | Link to Comment Stormtower
Stormtower's picture

And the next wave of layoffs will be due to Obummercare...........

Fri, 01/04/2013 - 10:17 | Link to Comment Cult of Criminality
Cult of Criminality's picture

Fuck Biden

Fri, 01/04/2013 - 10:19 | Link to Comment Iam Yue2
Iam Yue2's picture

Redux:

 

"President Barack Obama, in his State of the Union address in late January (2010), set out a goal of doubling exports over the next five years, which he said would create 2 million jobs.

A strong dollar would wreck that plan. Every 1 percent increase in the dollar, averaged against other major currencies, knocks U.S. exports down by about $20 billion annually and destroys some 150,000 jobs, according to the Peterson Institute for International Economics, a Washington-based nonpartisan research group."  

Fri, 01/04/2013 - 10:19 | Link to Comment Unstable Condition
Unstable Condition's picture

The controlled decline continues...

Fri, 01/04/2013 - 10:22 | Link to Comment Cult of Criminality
Cult of Criminality's picture

Pipe,ball bearings,compressed air,or other means of fuel is infinite.

No worries,Even IF they take guns they are easy to make and there will be millions of unknowns.

Fri, 01/04/2013 - 10:24 | Link to Comment Cult of Criminality
Cult of Criminality's picture

Heat,closed containers of (your pick)..physics

aint it great.

Fri, 01/04/2013 - 10:25 | Link to Comment AU79 PB82
AU79 PB82's picture

Be bold,
Buy gold.

Fri, 01/04/2013 - 10:26 | Link to Comment Shizzmoney
Shizzmoney's picture

Employment change over 2012, by education: HS or less -192k; Some college +563k; College+: +1.68million

Translation: if you weren't willing to take on a loan you'll never be able pay back, you can't get a job.

So, at this break neck pace of job growth, we will reach pre-Great Recession job levels sometime in next 100 years.

I dunno about you guys, but I'm totally confident to go buy some stocks!

Fri, 01/04/2013 - 10:32 | Link to Comment jplotinus
jplotinus's picture

BLS report 1/4/13:

Milquetoast.

Nothing to boast about; nothing to carp about; nothing to move the market about; nothing...

Fri, 01/04/2013 - 10:45 | Link to Comment nantucket
nantucket's picture

how are govt tax receipts doing.  that's probably more important now.  who cares if everyone has a job if it's part time and wages suck.  govt tax receipts combine the number of people working with the amount they are making....way more important when the game changes as it has.

 

i'd say an economy with 8% unemployment, no part time workers, and high salaries is a better economy than 4% unemployment when a ton of people are part time with low salaries.

 

right now we have the worst of both words....high unemployment with a high mix of part time jobs with low wages and low wage growth.

 

statist nirvana.

Fri, 01/04/2013 - 10:45 | Link to Comment orangegeek
orangegeek's picture

The biggest joke was watching markets rockets on Barry's tax increases and hold on government over-spending.

 

It's the bizzaro stock market folks.  What's that you say?  Ask Jerry Seinfeld.

 

http://www.youtube.com/watch?v=IcjSDZNbOs0

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