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How Today's "Strong" Jobs Report Led To 115,000 Job Losses

Tyler Durden's picture




 

While it is enticing to fall for the same old trick of reading the "quantitative", or headline, jobs data, driven entirely by the Establishment Survey, which as the BLS itself showed today, is nothing but mere noise based on seasonal adjustments and population estimates which is revised at least once a year based on new and improved exit assumptions, below we show the actual unvarnished truth contained in today's jobs reports.

Recall that in our pre-NFP post we pointed out something critical: "an even more disturbing trend is the conversion of America into a gerontocratic worker society, where the bulk of jobs are handed out to those 55 and over, which puts all young workers, not to mention college graduates, at a major disadvantage relative to far more experienced older workers." And sure enough, a quick update of the jobs by age-group change in January based on Household Survey data, the same data that showed that the unemployment rate actually rose from 7.8% to 7.9% (to give Bernanke more runway for QEternity as we predicted in December) shows that in the past month, 115,000 jobs were.... lost?

Indeed, as the chart below demonstrates, based on BLS data which breaks down jobs gains and losses granularly by age group, in January there was a total of 115,000 jobs losses, with the biggest losses once again concentrated in the 20-24, and 25-54 age groups, a total of 205,000 job losses, offset purely by job gains in the 16-19 age category: hardly the "quality" of jobs worth writing home about.

And another perspective: in January jobs in the 16-54 age group declined by a total of -99K, while even America's aged workers, those 55 and over, saw their first sequential jobs loss of 16,000 jobs, since July 2012. In Total, some 2.8 million jobs in the 26-54 age group have been lost since january 2009, offset by 3.95 million gains in the 55-69 age group.

Good jobs report indeed.

Source: BLS

 

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Fri, 02/01/2013 - 10:54 | 3206074 Say What Again
Say What Again's picture

BULLISH

All we care about today is DOW 14,000

Fri, 02/01/2013 - 10:59 | 3206096 yogibear
yogibear's picture

Certainly, that's all Bubble Bernanke and the Fed look at. They have a mandate for 6.5% unemployment but they were planning for QE to infinity anyway.

Fri, 02/01/2013 - 11:06 | 3206122 TruthInSunshine
TruthInSunshine's picture

NPR (National Public Radio; Hey, I listen for entertainment value-- it's the funniest shit anywhere) had an economist and an anal-cyst on this morning to explain that their biggest concern was that the 8 million long term unemployed (in reality, closer to 15 million ltu if one counts those actually trying, and 35 million ltu if one counts inner cities) will buy the tagline of "recovery" in greater numbers, and hence now try and find jobs again, which will cause the unemployment rate to absolutely skyrocket.

So that is just yet more evidence of how robust this recovery is.

Fri, 02/01/2013 - 11:08 | 3206147 Say What Again
Say What Again's picture

There it is -- DOW printed 14,000

Now I can call the strippers & start drinking.

Fri, 02/01/2013 - 11:19 | 3206170 IridiumRebel
IridiumRebel's picture

FUCK YEAH! 14 fuckin fuck you you fuckin fuck thousand on the DOW BITCHEZ! WE HAVE RECOVERED!!!!!!! CALL THE FUCKIN PORSCHE DEALER AND COLUMBIAN COKE DEALERZ!

Fri, 02/01/2013 - 11:23 | 3206211 MillionDollarBonus_
MillionDollarBonus_'s picture

It's so amusing to watch ZH doomer libertarians squirm at this positive economic news. This jobs report is evidence that not only is the global recovery real, but it is accelerating. The S&P is rocketting above 1500. If we get a a strong weekly close above 1500 today (and it looks like we almost certainly will), we are in for a simply spectacular stock market rally. Shorts better brace themselves, because they are in for a rude awakening.

Fri, 02/01/2013 - 11:34 | 3206254 Carl Spackler
Carl Spackler's picture

Bullish, I say, sheeple. Bullish.

Fri, 02/01/2013 - 11:34 | 3206266 Ray1968
Ray1968's picture

Gold got its regularly scheduled kill shot from the usual fuckity fuck mother-fuckers.

Fri, 02/01/2013 - 13:54 | 3206741 eatthebanksters
eatthebanksters's picture

MDB, if I did drugs I would really want to have some of whatever you are on...

Fri, 02/01/2013 - 11:46 | 3206303 orangegeek
orangegeek's picture

Euphoric mentality usually at major tops.  Keep shaking your pom-poms.

Fri, 02/01/2013 - 11:48 | 3206315 IridiumRebel
IridiumRebel's picture

DUDE! I'm totally happy! I am down in the D.R. YO' with Menendez rocking racing stripes of coke from 16 year old hooker's asses!

Fri, 02/01/2013 - 12:48 | 3206495 Overfed
Overfed's picture

16? Sheeit, try 12. BTW, the red wasn't from me.

Fri, 02/01/2013 - 18:46 | 3207737 Overfed
Overfed's picture

I can't believe we're gettin' red arrows for baggin' on a dirtbag, sexual predator Senator. WTF? DNC in here, or what?

Sat, 02/02/2013 - 00:09 | 3208531 jeff montanye
jeff montanye's picture

first i heard was you and i was born in east orange.

http://www.thedailybeast.com/articles/2013/02/02/five-things-to-know-abo...

Fri, 02/01/2013 - 12:08 | 3206390 ljag
ljag's picture

Where is the sarc/?
If the DOW ans SP are up .......why not ramp up the numbers to double that so I can getadiscount from my coke dealer?

Fri, 02/01/2013 - 12:13 | 3206404 Banksters
Banksters's picture

1984

But actually, he thought as he readjusted the Ministry of Plenty's figures, it was not even forgery. It was merely the substitution of one piece of nonsense for another. Most of the material that you were dealing with had no connection with anything in the real world, not even the kind of connection that is contained in a direct lie. Statistics were just as much a fantasy in their original version as in their rectified version. A great deal of the time you were expected to make them up out of your head. For example, the Ministry of Plenty's forecast had estimated the output of boots for the quarter at a hundred and forty-five million pairs. The actual output was given as sixty-two millions. Winston, however, in rewriting the forecast, marked the figure down to fifty-seven millions, so as to allow for the usual claim that the quota had been overfilled. In any case, sixty-two millions was no nearer the truth than fifty-seven millions, or than a hundred and forty-five millions. Very likely no boots had been produced at all. Likelier still, nobody knew how many had been produced, much less cared. A11 one knew was that every quarter astronomical numbers of boots were produced on paper, while perhaps half the population of Oceania went barefoot. And so it was with every class of recorded fact, great or small. Everything faded away into a shadow-world in which, finally, even the date of the year had become uncertain.

Sat, 02/02/2013 - 00:18 | 3208544 jeff montanye
jeff montanye's picture

many, many books and writers age badly.  1984 and orwell not so much.

and i thought it was a satire about communism.  but, hell, i voted for obama, once.

too soon old; too late wise.

 

 

Fri, 02/01/2013 - 12:21 | 3206422 Bad Attitude
Bad Attitude's picture

MDB, please stop drinking the Kool-Aid. Today's unemployment numbers will pump the DOW a little, but that's all. But, since the DOW seems to have no correlation to economic reality, does it really matter. The fact is that Dear Leader is systematically killing the economy with new regulations and taxes that stifle job growth - and Dear Leader wants even more taxes. Obamacare is going to be a big job killer - killing quality jobs.

The only "positive" aspect I see of these new jobs numbers is that the labor force participation rate is flat at 63.6 percent, but the trend remains downward.

Fri, 02/01/2013 - 12:39 | 3206468 Nels
Nels's picture

MDB has to keep drinking that koolaid, or there'd be no way for him to write those wonderfully hallucinogenic and immensely entertaining posts.

Fri, 02/01/2013 - 13:27 | 3206651 TheMerryPrankster
TheMerryPrankster's picture

I love you man...

Fri, 02/01/2013 - 13:38 | 3206700 Too Big 2
Too Big 2's picture

Hey MDB, where would the stock and bond markets be without all the life support mechanisms employed by the FED?  Put that in your crack pipe and smoke it!     

Fri, 02/01/2013 - 11:15 | 3206173 Shell Game
Shell Game's picture

I haven't watched CNBS for years, but I almost want to turn it on to watch the Parade of Fools pull out their Dow 14K hats.  Almost..

Fri, 02/01/2013 - 11:17 | 3206182 IridiumRebel
IridiumRebel's picture

LIESman just shot a load onto Simon.

Fri, 02/01/2013 - 11:46 | 3206271 Carl Spackler
Carl Spackler's picture

I haven't watched them in years, either...pablum for the drone's mind, and clowns really bug me.

However, I must say that last week's epic cat fight between Icahn and Ackerman was great theater !

Fri, 02/01/2013 - 12:28 | 3206431 bullmarket
bullmarket's picture

Probably haven't watched it since 2009- it's been quite a run. Keep tuned out.

Fri, 02/01/2013 - 12:57 | 3206532 Blano
Blano's picture

I watch American Greed sometimes, but that's it.

Fri, 02/01/2013 - 13:41 | 3206703 Blano
Blano's picture

Whoops dup

Fri, 02/01/2013 - 11:23 | 3206218 Shell Game
Shell Game's picture

Remind me of the part where the long term unemployed come back into official BLS statistics for simply looking for work?  

No, this society is going to collapse with 3.9% unemployment, 1.5% inflation and DOW 17,000.  The control freaks will be shocked, shocked! they will say, it will be the incompetent EU's and evil China's fault. So to war we go! Buy war bonds patriots!    Fucking. Illusion. 

Long guillotines..

Fri, 02/01/2013 - 13:22 | 3206599 tango
tango's picture

No, NPR is scared to death that Americans will someday start blaming Obama for this mess and his "progressive" policies will be caught in the crossfire.   Believe me, every NPR story is at heart an ideological piece promoting some hair-brained idea. 

Fri, 02/01/2013 - 13:23 | 3206645 TheMerryPrankster
TheMerryPrankster's picture

NPR stories are told so simply that they cannot be anything but simple propaganda. Listen how they talk like they are speaking to 5 year olds. no big words, no context, no in edepth discussion. Just rote ideas repeated over and over like drilling multiplcation tables into a child.

Anyone who swallows their bullshit is so badly maleducated they can't be reasoned with.

Of course the conservative press is essentially the same. Its all propaganda. Elevator music to mask the moans of death as we stand in line for the economic firing squad.

Project Mockingbird, CIA read it and weep 5 corporations own 99% of the American Media. Who controls the dialogue controls the perception and for most perception is reality.

Unemployment is up and the recovery is going great. War is peace, Love is hate.

rinse repeat.

 

Fri, 02/01/2013 - 11:24 | 3206222 mightycluck
mightycluck's picture

I saw similar numbers here: http://confoundedinterest.wordpress.com/2013/02/01/more-housing-angst-un...

169,000 drop out of labor force in January, unemployment rises. This is really bizarro world!

 

Fri, 02/01/2013 - 12:17 | 3206409 eatthebanksters
eatthebanksters's picture

I'm 56...show me where the jobs are for people older than 55! (Especially in the real estate industry).

Fri, 02/01/2013 - 12:52 | 3206504 Overfed
Overfed's picture

There are gobs of jobs out there. It's just that they are part-time shit jobs, but there are a lot of them.

Fri, 02/01/2013 - 14:27 | 3206837 SDShack
SDShack's picture

And with 0zer0care, that's all you will ever find. Part time jobs to stay below the 30 hour per week threshold that requires employers to provide healthcare. Or fulltime jobs, with no benefits at all. It's called spreading the wealth around.

Fri, 02/01/2013 - 13:20 | 3206622 tango
tango's picture

Lots of jobs in our area (affluent) if you have a degree, experience and will work hard.  Then again, for the vast majority that don't meet that criteria there are countless fast food and mall jobs.  Despite the bitching over unemployment, all the outdoor jobs are still 99% Hispanic.  Not blaming them since I use them for their punctuality and hard work.

Fri, 02/01/2013 - 11:00 | 3206110 IridiumRebel
IridiumRebel's picture

DOW BILLION BITCHEZ

Fri, 02/01/2013 - 13:17 | 3206604 TheMerryPrankster
TheMerryPrankster's picture

Billion squared.......Start felling the forest, we're gonna need more trees to make paper to print all the money we be makings.

Full time employment working for the FED using a permanent marker to add zeros to all the federal reserve notes so they don't have to print more trillion dollar bills.

Inflation will never happen, because the economic system will fail. Long starvation and dysentary.

Water will be the new currency. Get a lake while you can.

Fri, 02/01/2013 - 14:59 | 3206930 Totentänzerlied
Totentänzerlied's picture

The water is the easy part, it's getting the rights to use it that's tricky.

Fri, 02/01/2013 - 11:35 | 3206272 ejmoosa
ejmoosa's picture

With the Revised BLS Data, job creation fell from 311k in Jan 2012 to 157k in Jan 2013.  

Feel the boom!

Fri, 02/01/2013 - 10:54 | 3206077 Dooud
Dooud's picture

Why do I need a job, man?

Fri, 02/01/2013 - 11:18 | 3206185 sodbuster
sodbuster's picture

You don't, man, you're the Dooud! Ah, fuck it!!

Fri, 02/01/2013 - 11:26 | 3206224 Unprepared
Unprepared's picture

You look like 50+ year old.

Fri, 02/01/2013 - 11:40 | 3206276 Carl Spackler
Carl Spackler's picture

...especially when "Obama is paying for" your cell phone, mortgage, and food/booze/lottery tickets (with those debit cards)

Fri, 02/01/2013 - 12:09 | 3206395 tbone654
tbone654's picture

Once you have been on Public Assistance and realize you can't even spend that much in a month on food, and also realize you have the best healthcare on the planet ($0 co-pay and the doctors love to run more and more expensive tests), and you get rent assistance, and all you have to do is fill out one form, and the webpage comes back and tells you ALL the programs you qualify for...

All you have to do is remember to vote Communist Democrat for as long as you want it to continue...

What a country...  It was very revealing...  USSA... USSA... USSA... USSA... USSA...

Fri, 02/01/2013 - 12:30 | 3206443 semperfi
semperfi's picture

need new law:  can't vote if you are getting a govt stipend of any sort EXCEPT people physically disabled on-the-govt-job (ie, military, etc)

Fri, 02/01/2013 - 12:38 | 3206471 tbone654
tbone654's picture

It makes sense...  but it's more likely that people on the government DOLE will be given 2 votes, than no vote...

Back in the day...  Giving blacks 3/5 of a vote was the only way the South could have an impact on national politics...  By giving everyone of a certain class 2 votes today, the democratic communists could assure their legacy...

Fri, 02/01/2013 - 15:03 | 3206942 Totentänzerlied
Totentänzerlied's picture

That would be idiotic. While many poor people do not vote (yes, it's true, and if you think about it for a second, it makes sense), the fact that they have the right to vote (on paper) is really what matters. Just like you have the right to keep and bear arms (on paper).

Fri, 02/01/2013 - 10:55 | 3206080 azzhatter
azzhatter's picture

I'm 60, maybe I'll go out and look for a job. Seems to be booming in my age group.

Fri, 02/01/2013 - 11:02 | 3206119 DaveyJones
DaveyJones's picture

how are your coffee skills?

Fri, 02/01/2013 - 11:46 | 3206287 Carl Spackler
Carl Spackler's picture

Azz, are you familiar with the IBM Selectrix, and how many words per minute can you type ?

Fri, 02/01/2013 - 12:54 | 3206521 tbone654
tbone654's picture

The problem is, old farts like us (I'm 55) have to, and can work, because of the experience gap...  My mom (77) lives with me... My Daughter (26) lives with my wife and I and 3 young sons...  (note: I guess that makes me a "boomer sandwich")...   Like so many others I HAVE to work... and am thankful that I can work, and can make a gazillion $$$ a year in a high tech job while it's still possible...

When my dad was 55, he was pushed into retirement, but he didn't have his mom and all his kids still living at home...  So it's more than just preference keeping older guys like me in the work force longer, in essence, blocking my own kids of valuable jobs, and inflicting "failure to launch" syndrome on our young 20 somethings today...  In many cases, it's just unavoidable...

Fri, 02/01/2013 - 13:52 | 3206739 DaveyJones
DaveyJones's picture

like most of the world, and after its short empire ride, this place will soon have multiple generations under one roof 

Fri, 02/01/2013 - 15:09 | 3206974 Totentänzerlied
Totentänzerlied's picture

Without the requisite, yes I say requisite, culture and values to make it work. Gonna get real fun.

Fri, 02/01/2013 - 10:56 | 3206084 Terminus C
Terminus C's picture

Gains, losses, what does it matter, we are on the road to recovery... just ask your fellow pleb, they'll tell you.

Fri, 02/01/2013 - 11:19 | 3206191 Rainman
Rainman's picture

,,, yup, tried to sell my Dow 10k hat in a garage sale for 50 cent....no takers. 

Fri, 02/01/2013 - 10:58 | 3206086 yogibear
yogibear's picture

Well Spain and Greece have over 50% unemployed youth. Guess the US is doing well in comparison. 

The BLS can continue to spin the numbers, it's good at that.

Fri, 02/01/2013 - 10:58 | 3206091 Being Free
Being Free's picture

Come on comrades...get happy!

http://www.youtube.com/watch?v=gqsT4xnKZPg

Fri, 02/01/2013 - 10:59 | 3206092 q99x2
q99x2's picture

First they lie to us. Then they shoot us.

Fri, 02/01/2013 - 11:00 | 3206109 DaveyJones
DaveyJones's picture

then they give our children the funeral bill

Fri, 02/01/2013 - 11:02 | 3206113 Shizzmoney
Shizzmoney's picture

First they lie to us. Then they shoot us.

You forgot one:

They lie to us

They THEN take all of our money (what little we have left)

AND THEN they shoot us.

Now, it's not a totally bad thing for the government and Wall St.  Killing off people is a great way to lower the unemployment rate.

Fri, 02/01/2013 - 13:10 | 3206571 TheMerryPrankster
TheMerryPrankster's picture

Long soldiers....

Fri, 02/01/2013 - 10:59 | 3206100 DaveyJones
DaveyJones's picture

strong like an odor

Fri, 02/01/2013 - 11:01 | 3206101 Shizzmoney
Shizzmoney's picture

Correspond this chart with the voting participation rate, by age.

It would probably will explain everything.

Fri, 02/01/2013 - 13:07 | 3206569 TheMerryPrankster
TheMerryPrankster's picture

yeah cause voting is so meaningful. Lets see last presidential election the choice was Black Harvard Law graduate or White Harvard Law graduate.

With such breath of choices, certainly our votes are meaningful.

They pick who you get to vote for and then let you vote so you feel like you're participating. your just pissing in the wind and can't understand why you are all wet and cold.

Fri, 02/01/2013 - 15:30 | 3207064 Totentänzerlied
Totentänzerlied's picture

Obviously you don't understand our wonderful democracy. True, voting does not work the way it was advertised. But it does work - to buy favors from the politicians who are busy screwing you.

Fri, 02/01/2013 - 11:01 | 3206104 IridiumRebel
IridiumRebel's picture

HOUSE OF LIES!!!!!!!!

Fri, 02/01/2013 - 11:00 | 3206106 Mike in GA
Mike in GA's picture

 

 

No worries....Harry sez "we're in a recovery"Harry sez "we're in a recovery"Harry sez "we're in a recovery"Harry sez "we're in a recovery"Harry sez "we're in a recovery"Harry sez "we're in a recovery"Harry sez "we're in a recovery"Harry sez "we're in a recovery"Harry sez "we're in a recovery"Harry sez "we're in a recovery"Harry sez "we're in a recovery"Harry sez "we're in a recovery"Harry sez "we're in a recovery"Harry sez "we're in a recovery"

And he's a Sinator so he's smart, right?

 

Ugh.

Fri, 02/01/2013 - 11:17 | 3206178 CaptainSpaulding
CaptainSpaulding's picture

Im done reading the chart Doc.  Did i pass my eye exam?

Fri, 02/01/2013 - 13:05 | 3206557 TheMerryPrankster
TheMerryPrankster's picture

No you passed a kidney stone, but it did have some writing on it.

Fri, 02/01/2013 - 11:03 | 3206125 TrumpXVI
TrumpXVI's picture

My grand nephew is in the 20 - 24 age group.  

He has a job.

He works on a "farm" in an undisclosed location somewhere in California.  He's paid in cash; no W-2 to worry about.  He has no fixed address; lives in his tent somewhere on the farm property sleeping at night right next to his warm and snuggly Great Pyrenees/Newfoundland mix guard dog.

Wake up and smell the coffee, America.  The future is here, right now.

 

Fri, 02/01/2013 - 11:11 | 3206151 Curt W
Curt W's picture

I love the smell of pot in the mountain morning air.

Fri, 02/01/2013 - 11:23 | 3206212 Dooud
Dooud's picture

......it smells like .....victory!

Fri, 02/01/2013 - 11:13 | 3206166 El Hosel
El Hosel's picture

Go long - Off the grid

Fri, 02/01/2013 - 15:40 | 3207112 tbone654
tbone654's picture

It sounds good... but what do I do with my mother (77) wife (47) daughter (26) and 3 boys (10, 8, 8) who all live with me?

I think my advice to my family is: Don't have kids, don't go to college, don't trade in cash, and barter your way through life...  sounds romantic hey?  no more white picket fence, 35 year factory job, 2 cars in the garage... no more security...  BUT NO TAXES...

I should have gone that route 35 years ago...  no home, no worries, smoke pot...  

oh! the wrong turns one can make...

Fri, 02/01/2013 - 15:33 | 3207067 Totentänzerlied
Totentänzerlied's picture

"The future is here, right now."

And it's so bright I need sunglasses!

http://blogs.villagevoice.com/runninscared/Kim-Jong_Il.jpg

Fri, 02/01/2013 - 11:03 | 3206126 fonzannoon
fonzannoon's picture

Did someone just knock gold down $12 while I was taking a piss?

Fri, 02/01/2013 - 11:06 | 3206138 TrumpXVI
TrumpXVI's picture

Yes.

Fri, 02/01/2013 - 11:16 | 3206157 El Hosel
El Hosel's picture

WizzBang...Bitch

Fri, 02/01/2013 - 11:03 | 3206127 caimen garou
caimen garou's picture

long soup!

Fri, 02/01/2013 - 11:15 | 3206176 ZeroAvatar
ZeroAvatar's picture

How's this for Orwellian:  (Yahoo Headline)  "Hiring slow but steady, (COOL!)  Economy adds 157,000 jobs (Fantastic!)  Rate up to 7.9% (HUH?)

 

So there you have it:  Hiring is 'up', yet unemployment rate 'increases'.  Muppets must think 'rate is up to 7.9%' means HIRING RATE, not the UNEMPLOYMENT RATE. 

 

I just can't believe my lying eyes.  What we have heah is a FAIL-yuh to co-MUNI-cate.  My wife thinks I'm crazy.  I'm beginning to wonder.  She DID notice the spike in gasoline, mentioned it to me last nite.  I gotta go. I'm gonna go put my Psionic Headgear on and focus my thoughts. Has anyone seen my Reynolds Wrap? 

Fri, 02/01/2013 - 11:21 | 3206202 Shizzmoney
Shizzmoney's picture

Anyway to get Corporate America to make you think, "ALL IS WELL!!!!!111"

Sadly for them, it IS good.  The problem is that the executives, bankers, investors, and middle managers only compromise 20% of America.

But our govt only cares that the 20% do well; they'll only tend to the rest when we start to riot.

 

Fri, 02/01/2013 - 15:37 | 3207089 Totentänzerlied
Totentänzerlied's picture

"But our govt only cares that the 20% do well;"

Cut the leftist populist pandering crap. The state cares about getting it's cut of your money. If you have lots of money - like the people you are referring to - it will use kid-gloves instead of billy-clubs to take its cut. But if you have a metric fuckton of money, you wrote the f'ing tax code. Those are the people you need to worry about. Not "the 20%".

Fri, 02/01/2013 - 15:53 | 3207185 tbone654
tbone654's picture

This has happened before...  Those with some logic capacity know it's a joke...  But here's what happens: 

Similar to 2007, when I absolutely KNEW the housing bubble was going to BURST sure as anything...  I thought I could jump in real quick, and buy 5 houses and flip them so fast, because everyone else was making money, even though I KNEW it would POP...  That was October 15th 2007, and I picked the absolute TOP of the housing bubble to buy my first 5 houses...  Even though I KNEW everything was going to head south at some point...  And had known for years...

Well you all know this is rediculous...  These JOB numbers SCREAM for a recession/depression...  But it's NOT going to happen until everyone's in...  The "paper boy" starts talking to me about the market and you know it's the top... but he's not there yet...  So all you who like me think this makes no sense, will at some point try to catch the tail end of this rally, and POP!  there it goes...  Not until you get in, despite your best judgement, will this market go to where it belongs...  60-70% lower...

This has happened before...  Have a nice day!

Fri, 02/01/2013 - 15:57 | 3207200 tbone654
tbone654's picture

So throw all your shit into this market, so It doesn't have to be me again that crater's this thing...  I'm counting on all of you, despite all the signs, to suck it up and get this thing over with...  Put all your money in the USSA stock market, please!

Fri, 02/01/2013 - 16:00 | 3207215 tbone654
tbone654's picture

c'mon... We're running trillion dollar deficits AND there are no jobs...  What more do you want to get you to finally BUY, BUY, BUY!!!

Fri, 02/01/2013 - 13:02 | 3206544 TheMerryPrankster
TheMerryPrankster's picture

Eating a can of alphabet soup at the university of Alabama now counts as 2 credits in remedial english.

Fri, 02/01/2013 - 11:09 | 3206143 thismarketisrigged
thismarketisrigged's picture

get the fuck out of the market fed. let ir run its own,14000 guys fuck them

Fri, 02/01/2013 - 11:13 | 3206167 MFLTucson
MFLTucson's picture

Fraud, deception, lies, manipulation and false economic numbers.  That is what is driving the US financial market.  Have fun because this will eand in severe pain with a total collapse!

Fri, 02/01/2013 - 13:37 | 3206687 TheMerryPrankster
TheMerryPrankster's picture

Lies, Damn Lies, and government statistics.

Bernanke's plan for economic recovery, in 3 points.

Fri, 02/01/2013 - 11:21 | 3206205 adr
adr's picture

The household survey has been showing actual losses for months, and any gains in the past year have been way under the BSL.

There have not been any gains in total employment for the past four years using true hard data.

The jobs that were replaced, yes if you lost your job and you got another one a job was not "added", were replaced with lower paying jobs.

DOW 14k means anyone working productive labor just got a larger diameter dildo shoved up their ass.

Fri, 02/01/2013 - 11:22 | 3206215 roadhazard
roadhazard's picture

I guarantee there are very few 60 year olds being hired that require eight hours of physical activity like building and loading and climbing. I do see old ladies at the registers in retail stores. I do not see a lot of old men working at all, maybe at the auto parts store. Most corporate business even though they say they don't, force 50+ employees out for younger people they can get cheap.

The youth need to hit the street and raise hell instead of whine on the internet, bitches. Y'all need to flash mob for jobs instead of MCHammer videos.

Fri, 02/01/2013 - 11:50 | 3206320 Shizzmoney
Shizzmoney's picture

LOL...you are totally right.

We have a lot of old people at my job, including a 78 year old (!!!!).  However, a few have been phased out in the last few months to cut cost; younger workers have been rehired to replace them, but at 30% of the cost.

So even when young people DO get jobs, it's not enough to keep up with debt payments, inflation of the cost of life, NEVERMIND being able to afford consumer luxuries.

I really still am puzzled how we haven't revolted yet.  But I say wait til 2015-2016 for that to happen when Obama and the new Republican President (prob Christie) ax entitlements.

Fri, 02/01/2013 - 11:58 | 3206359 BeerBrewer09
BeerBrewer09's picture

they won't ax anything. they're stuck in print mode. you'll get your entitlement, government inflation rate will be 1.2%, enemployment will still be 7.9%, loaf of bread will be $10, gallon of gas $10, and the previously employed young men & women marched off to war to die *I mean solve the enemployment problem*

once inflation hits in a big way, there will be no way to control it. raise rates? LOL. more like price controls and shortages blamed on foreign countries.

Fri, 02/01/2013 - 15:41 | 3207108 Totentänzerlied
Totentänzerlied's picture

"I really still am puzzled how we haven't revolted yet"

Because we're the freest bestest god-blessedest nation on Earth, ignorant terrrist!

Fri, 02/01/2013 - 11:24 | 3206220 rwe2late
rwe2late's picture

 Fear not unemployment,

the government has taken steps to insure that everyone has a job.

The US prison industry assures there can be a job for everyone.

The steadily inreasing prison population of 2 million and rising (at least 80% imprisoned for non-violent offenses) find jobs at $0.25 per hour with shared room and rations.

The Jim Crow model of employ needs no longer be limited to minorities. thanks to Prohibition II (aka "war on drugs").

The Patriot-NDAA acts offer potential promise of even more jobs.

 

http://www.globalresearch.ca/the-prison-industry-in-the-united-states-big-business-or-a-new-form-of-slavery/8289  

 

 

Fri, 02/01/2013 - 11:25 | 3206228 world_debt_slave
world_debt_slave's picture

yep, I moved from Cali in July 2012 and where I am now working from self employed to the W2 slave again, this business will not hire full time and only part time, minimum wage.

The other day a manager there told me they are cutting more full time employees from the payroll.

But where I live now, I have better job prospects than in Cali. Interviewed yesterday for a state gov job and also a private manufacturing job, full time.

Now time to get ready for my part time meal ticket.

Fri, 02/01/2013 - 11:26 | 3206232 Inthemix96
Inthemix96's picture

Speaking of jobs,

The two daft Irish lads Paddy and Mick hate theirs on a building site.

Paddy says to Mick, "How Am I gonna get the day off the day?  Am sick as fuck".

Mick says, "Act daft, the gaffer will send you home".

Paddy jumps up on to a rafter, hangs upside down and starts screaming, "Weee, am a lightbulb, am a lightbulb!!".

The gaffer comes in after hearing the noise and says, "Paddy, fuck off to the doctors and take the week off, you've went daft".

Mick starts packing his gear away and the gaffer says, "Where the fuck you going?".

Mick, quick as a flash, "Fuck you mate if you think am working in the dark".

:-)

Fri, 02/01/2013 - 11:33 | 3206257 Just Ice
Just Ice's picture

Thanks for the golden oldie  ;-)

Fri, 02/01/2013 - 11:59 | 3206358 Inthemix96
Inthemix96's picture

This bloke is driving along in his car, distracted by the lovely looking bird on the side-walk when SMASH, he hits the bloke in front of him.

He jumps out looking sick as fuck and looks at the bloke who gets out the car he hit.

Turns out its the dwarf-man himself, the bernank, the dwarf bernank says, "I'm not fucking happy".

The bloke says, "Really?, which one are you then?".

Boom fucking boom.

Fri, 02/01/2013 - 12:29 | 3206442 optimator
optimator's picture

No Joke, true story:

Minority gets job and sits next to old employee.  Minority late the first day.  Old guy says, don't do that again, it'll go against you, I never am late or miss a day.  Minority takes one sick day a week, old guy says don't do that.  Old guy asks the boss for a day off to take daughter to her freshman year of college.  Boss says, can't spare you that day.  Old saddened guy goes back to sit next to minority.  Minority says, with a smile, "Who Da Fool".

Fri, 02/01/2013 - 12:55 | 3206520 roadhazard
roadhazard's picture

Some carpenters were doing a remodel on a home and the mother let her five year old daughter hang around with them. When all the sudden the carpenters left the mother asked the daughter what happened. " The fuckin' sheet rock didn't show up", she said.

Fri, 02/01/2013 - 11:29 | 3206235 Just Ice
Just Ice's picture

Some guy from Jefferies -- with receding and graying hair, no less -- just proclaimed that the higher the market goes, the more "wealth" Americans have.  Just goes to show wisdom does not necessarily come with age.

Fri, 02/01/2013 - 11:35 | 3206262 fonzannoon
fonzannoon's picture

I saw that Just Ice. That guy was funny. His target was "higher".

The sad part is they throw that guy in the dumpster when they go to commercial. Just because.

Fri, 02/01/2013 - 11:52 | 3206342 Dr. Engali
Dr. Engali's picture

What he failed to mention is that the Americans he was talking about represents about 1% of the people.

Fri, 02/01/2013 - 14:13 | 3206760 Just Ice
Just Ice's picture

1% have bigger numbers on stock portfolios while rest only blessed with diminished purchasing power and higher gas and food prices.  Wealthier, my hat.

Huge spec ramp in copper should make sure lot more things succumb to commodity inflation.  (Altho' seems rather silly since copper ran from 58 to 460 on back of U.S. RE boom turned housing bubble, housing bubbles Europe, Australia, Canada, warehoused stockpiles for use as ATM in China, China's build out of big empty cities, new car sales spurred through cash for clunkers...all of which are history and not going to repeat despite Bernanke's bubblicious efforts.  Nonetheless, here copper sits, less than a buck off all time high.)

Yay for speculative wealth at everyone else's expense in real world costs!  jerks..

Fri, 02/01/2013 - 11:38 | 3206277 Shizzmoney
Shizzmoney's picture

Hey Al Gore, you piece fo shit, here's An Inconvenient Truth: economic inequality in American cities is on the rise

http://t.co/SJbmkwKd

Fri, 02/01/2013 - 15:43 | 3207130 Totentänzerlied
Totentänzerlied's picture

I don't see where economic equality was ever promised in any law or founding document.

Fri, 02/01/2013 - 17:39 | 3207581 Accounting101
Accounting101's picture

How about a democracy? Was that promised in any law or founding document?

Economic inequality and democracies can't hang together.

Fri, 02/01/2013 - 16:48 | 3207423 e-recep
e-recep's picture

thats what becoming a third world country is.

Fri, 02/01/2013 - 11:53 | 3206340 Never One Roach
Never One Roach's picture

The kid next door has $102k in student loans ....turned down several jobs for about $65k saying, "I'm worth more then that."

 

That's part of the problem. It's deep. It's cultural. It's becoming immutable.

Fri, 02/01/2013 - 11:59 | 3206364 the grateful un...
the grateful unemployed's picture

its a bitch, with his education he can't afford to go to work

Fri, 02/01/2013 - 12:16 | 3206411 Aegelis
Aegelis's picture

Hahahaha!  That made my day, thanks.  Nobody is 'worth' more than anyone else, we all compete for the best paying jobs by fulfilling their requirements. 

Fri, 02/01/2013 - 15:45 | 3207141 Totentänzerlied
Totentänzerlied's picture

Surely you jest. "Turned down several jobs" ... how absurd, there are no jobs.

Fri, 02/01/2013 - 11:54 | 3206343 Pinocchio
Pinocchio's picture

when I go to the table, I do not get those numbers. I get this

16-19 – up 106,000 jobs!!

20-24 – down 99,000 (you know…. Those that have just graduated)

25-54 – down 106,000 (you know… the most productive in society)

55 and over – up 11,000

For a grand total of down 88,000 right? (Your 55-69 is wrong... but...)

I dunno… maybe I can’t do math.

Let’s look a little closer.

Take a look at the 16 to 19 year old line. It says that we went from 4,402,000 in Dec to 4,508,000 for a total gain of 106,000. Ok. Check.

Let’s look at 20-24. 13,570,000 to 13,471,000. Loss of 99k. Ok. Check.

Let’s look at 25 to 54. 94,253,000 to 94,147,000. Loss of 106K. Check.

And finally 55-69. 31,153,000 to 31,164,000. Gain of 11k. check.

Now let’s go to the fuzzy math line at the top. Total, 16 years and over. 143,305,000 to 143,322,000. Gain of 17k. HUH?

What am I missing?

Fri, 02/01/2013 - 12:08 | 3206391 Never One Roach
Never One Roach's picture

Pinocchio, you need an masters in Mythology to understand their numbers.

Fri, 02/01/2013 - 12:38 | 3206459 Orwell was right
Orwell was right's picture

Not missing anything....looks good

Fri, 02/01/2013 - 11:58 | 3206361 zkay
zkay's picture

Pretty soon we'll see a US version of those "save the african children" commercials, but they'll be featuring college aged kids that are surviving by eating MRE's and tang.

If you would like to help such a person, my bitcoin hash is below. : )

 

12imfrCcAJvc2GRBoBaaHpYwvYFU2H21NC

Fri, 02/01/2013 - 12:36 | 3206452 Orwell was right
Orwell was right's picture

LOL...

Fri, 02/01/2013 - 15:46 | 3207152 Totentänzerlied
Totentänzerlied's picture

"MRE's and tang"

No, ramen and beer. You're out of the loop.

Fri, 02/01/2013 - 12:05 | 3206382 the grateful un...
the grateful unemployed's picture

this is a generational thing. who buys most of the new cars? probably the 55-69 age group, when they were growing up there were two paths to freedom (moving out of the parents house) that was a job and a car. alan greenspan celebrated the mobility of the american work force, if you needed work and the job was two states away, you packed up and you drove there. now the automobile drives itself, and the assembly line is all robotic. but we still count jobs, as though this was a measure of economic activity. jobs and employment will eventually disappear as a measure, even the FED policy parodies the obvious by setting interest rates to employment, that was the biggest joke bernanke has yet pulled on us (but they don't give you a PHD for being simple minded)

Fri, 02/01/2013 - 15:53 | 3207191 Totentänzerlied
Totentänzerlied's picture

"but we still count jobs, as though this was a measure of economic activity."

It never was. Just look at government jobs. No, really. Either the profit from some productive labor must be stolen, or more claims on future productive private labor must be created to finance them, and all the people doing these jobs would otherwise be engaged in productive labor. When you consider economic entropy (greed, corruption, inefficiency, waste), lack of pricing mechanism, and ensuing costs, it's net-negative.

Fri, 02/01/2013 - 12:07 | 3206383 Orwell was right
Orwell was right's picture

Wihile I completely agree that employment sucks right now....this article neglects to mention that all those "well employed" 55-year-olds work at McDonalds.  

A significant number of those folks got "right sized" "off-shored" and otherwise moved out of well paying middle class jobs, and are now scrambling to make ends meet working at Staples, McDonalds, Panera, and the Price Chopper grocery store. 

I am growing weary of the thinly veiled tone of "bashing the old folks" in article such as this.

Fri, 02/01/2013 - 12:29 | 3206438 SmallerGovNow2
SmallerGovNow2's picture

Can you see the 47 million food stamp recipients in lines around the country? At 2 linear feet for each person in line, that would be a line 17,803 miles long, or 6 times across the US from coast to coast.

 

47,000,000 X 2 / 5,280 feet/mile = 17,803 miles long

 

THAT is why there are debit cards and the food stamp program. The government wants to keep the depression as invisible as possible, as long as possible. Fake unemployment numbers (like today's report), fake Stock Market (DOW just went over 14,000), fake GDP (-0.1% last quarter but a lot worse if they calculated real inflation), etc. Reality would spark a revolution and they know it.

Fri, 02/01/2013 - 13:33 | 3206678 TheMerryPrankster
TheMerryPrankster's picture

Food stamps - electronic soup lines for the virtual world.

There's an app for that. "Angry Turds", monkeys throw feces at out of work celebrities and get additional bonus Dollarz on their food stamp account.

Download Angry Turdz for your Obamaphone today. A small monthly charge may apply. Brought to you by J.P Morgan your authorized food stamp supplier.

Fri, 02/01/2013 - 12:35 | 3206447 Bansters-in-my-...
Bansters-in-my- feces's picture

And the DOW rallys 180 points...?

Ps fuck you sack of shit million dollar bonus.
Pss....I would pay to spend one minute alone with you.

Fri, 02/01/2013 - 12:39 | 3206464 mightycluck
Fri, 02/01/2013 - 14:58 | 3206922 wagthetails
wagthetails's picture

i wish this older generation would start smoking again.

Fri, 02/01/2013 - 15:49 | 3207162 Walt D.
Walt D.'s picture

More from 1984 - a further inside into why all the lies.

"Now I will tell you the answer to my question. It is this. The Party seeks power entirely for its own sake. We are not interested in the good of others; we are interested solely in power, pure power. What pure power means you will understand presently. We are different from the oligarchies of the past in that we know what we are doing. All the others, even those who resembled ourselves, were cowards and hypocrites. The German Nazis and the Russian Communists came very close to us in their methods, but they never had the courage to recognize their own motives. They pretended, perhaps they even believed, that they had seized power unwillingly and for a limited time, and that just around the corner there lay a paradise where human beings would be free and equal. We are not like that. We know what no one ever seizes power with the intention of relinquishing it. Power is not a means; it is an end. One does not establish a dictatorship in order to safeguard a revolution; one makes the revolution in order to establish the dictatorship. The object of persecution is persecution. The object of torture is torture. The object of power is power. Now you begin to understand me."

And the object of bogus statistics is bogus statistics.

Fri, 02/01/2013 - 19:18 | 3207791 loregnum
loregnum's picture

This chart is wrong if it is going by the bls table. The bls table shows an increase in 55+ jobs not the negative the writer came up with. The other age bracket figures are correct which makes one wonder HTF the bls data shows an icnrease in jobs whem the bracket figures show a loss.

 

I guess the total figure is there for the sheeple who are too lazy to look at the table and see the numbers don't add up. Regardless, the situation is not good for anyone in the meaty working age.

 

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