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April Payrolls +165,000, 7.5% Unemployment Rate, Participation Rate Flat At 1979 Levels

Tyler Durden's picture


Following the March NFP disappointment, it was only reasonable to expect a modest beat in this month's data which came at +165,000, on expectations of +140,000, and following a revision to the March number from 88K to 138K. The unemployment rate declined from 7.6% to 7.5% beating, expectations of an unchanged print. The flipside, as always, is that the labor participation rate remained flat, at 63.3%, once again the lowest since 1979.

From the report:

The unemployment rate, at 7.5 percent, changed little in April but has declined by 0.4 percentage point since January. The number of unemployed persons, at 11.7 million, was also little changed over the month; however, unemployment has decreased by 673,000 since January. (See table A-1.)


Among the major worker groups, the unemployment rate for adult women (6.7 percent) declined in April, while the rates for adult men (7.1 percent), teenagers (24.1 percent), whites (6.7 percent), blacks (13.2 percent), and Hispanics (9.0 percent) showed little or no change. The jobless rate for Asians was 5.1 percent (not seasonally adjusted), little changed from a year earlier. (See tables A-1, A-2, and A-3.)


In April, the number of long-term unemployed (those jobless for 27 weeks or more) declined by 258,000 to 4.4 million; their share of the unemployed declined by 2.2 percentage points to 37.4 percent. Over the past 12 months, the number of long-term unemployed has decreased by 687,000, and their share has declined by 3.1 percentage points. (See table A-12.)


The civilian labor force participation rate was 63.3 percent in April, unchanged over the month but down from 63.6 percent in January. The employment-population ratio, 58.6 percent, was about unchanged over the month and has shown little movement, on net, over the past year. (See table A-1.)


In April, the number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) increased by 278,000 to 7.9 million, largely offsetting a decrease in March. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.)


In April, 2.3 million persons were marginally attached to the labor force, essentially unchanged from a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. (See table A-16.)


Among the marginally attached, there were 835,000 discouraged workers in April, down by 133,000 from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.5 million persons marginally attached to the labor force in April had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities.  (See table A-16.

That said, as previewed earlier, the number itself is merely noise, since no matter the outcome, the market would have taken a bad number as positive for more QE, and a good number as "confirming" the first modest macro improvement in the past two months.


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Fri, 05/03/2013 - 08:36 | 3526049 Shocker
Shocker's picture

Great Another Jobs Number, Still have economic problems.

Keep Track of it everyday

Layoff / Closing List


Fri, 05/03/2013 - 08:38 | 3526069 MillionDollarBonus_
MillionDollarBonus_'s picture

Chronicles of a Silverbug Lemming  

Part 2

Marisa is furious. "Jack, would you leave that computer for two seconds and spend some time with your family for once?" 

Jacks barely flinches. He is  busy eyeing his third losing trade of the day. He moves his stop lower - he is not going to lose this one.

"Jack, I can't go on like this! Look at your son and daughter, they barely see you even though you're at home all day."

Jack snaps: "I'm coming now damn it! Someone has to make living around here you know! Professional traders at the 'Bullion Banks' trade from five in the morning to late at night; if I'm going to make it as a trader, I'm going to have to make sacrifices. Why can't you understand that?!"

Jack glances back at his screen. Silver Wheaton has taken another plunge, his stop has been hit. Jack cannot believe his eyes. He looks up and howls at the sky. "Noooooo!" 

Marisa slams the office door shut and storms off. 

Fri, 05/03/2013 - 08:40 | 3526088 Dr. Engali
Dr. Engali's picture

You're messed up.

Fri, 05/03/2013 - 08:44 | 3526113 fonzannoon
fonzannoon's picture

He is on someone's payroll. That is for sure.

I mean how  else could he know my name was jack?

Fri, 05/03/2013 - 09:20 | 3526326 Hulk
Hulk's picture

MDb's name is Jack. That story is definitely autobiographical...

Fri, 05/03/2013 - 08:49 | 3526146 Yen Cross
Yen Cross's picture

 You're too kind Doc.

Fri, 05/03/2013 - 08:45 | 3526120 LawsofPhysics
LawsofPhysics's picture

Big difference between paper and physical.  All my ounces are still there.  Wake me when the prices in fiat gets back to the dollar cost average of under $300 and $8 per ounce.  That's the dollar cost average on my holdings of gold and silver.  The best part is I never have any problem exchanging them for the "fiat du jour" or the real value of another's labor.


Ah MBD, troll of trolls, so many paper promises and so little real collateral...

Fri, 05/03/2013 - 08:47 | 3526132 Bearwagon
Bearwagon's picture

Which part of "buy silver hand over fist, don't sell any!" didn't Jack understand?!

Fri, 05/03/2013 - 08:55 | 3526200 Al Huxley
Al Huxley's picture

Maybe he was unable to find physical silver due to the shortages, and mistakenly thought that the miners might be able leverage this shortage to their advantage, being producers of the physical commodity and all.  Little did he know that the miners are the only people on the entire planet who still sell physical metal for the paper-established price.

Fri, 05/03/2013 - 08:57 | 3526221 Non Passaran
Non Passaran's picture

I can tell a writer when I see one!

Fri, 05/03/2013 - 08:50 | 3526145 caimen garou
caimen garou's picture

mdb makes a stupid post as usual and gets his daily ass pat from his troll master, he says hey boss i did such a great job on zh so will you please use some lube this time before you do me, thanks!

Fri, 05/03/2013 - 08:50 | 3526157 FreeNewEnergy
FreeNewEnergy's picture

Reading the tripe that you pass off as fiction, it is safe to say that you are not the next Fitzgerald or Hemingway.

We are all greatly relieved.

Fri, 05/03/2013 - 08:52 | 3526169 GubbermintWorker
GubbermintWorker's picture

I specifically remember a request where it was advised that Marisa get naked in part II.

You are large disappointment :(

Fri, 05/03/2013 - 09:21 | 3526334 Hulk
Hulk's picture

Hey, if he ain't gettin it, we ain't gettin it...

Fri, 05/03/2013 - 08:56 | 3526209 Non Passaran
Non Passaran's picture

Thanks for the reminder, I think a trade I did the other day will be settled today. If SLW is looking beaten up, I'll buy a few shares...

Fri, 05/03/2013 - 13:42 | 3527659 TimmyM
TimmyM's picture

Hey MDB,

 your off topic threadjacking bullshit is rude.


Fri, 05/03/2013 - 08:38 | 3526076 ACP
ACP's picture

Their pants on fire are obviously what lit the building up.

Fri, 05/03/2013 - 08:50 | 3526118 GetZeeGold
GetZeeGold's picture




1979....please don't tell me they're bringing back disco.

Fri, 05/03/2013 - 08:50 | 3526152 Headbanger
Fri, 05/03/2013 - 08:45 | 3526119 Cult_of_Reason
Cult_of_Reason's picture

As I suspected yesterday, NFP report was leaked, and the ramp was not because of POMO.

Fri, 05/03/2013 - 13:28 | 3527567 Burt Gummer
Burt Gummer's picture

John Williams of Shadow Stats just released data that shows otherwise.

Fri, 05/03/2013 - 08:35 | 3526050 apberusdisvet
apberusdisvet's picture





Fri, 05/03/2013 - 08:37 | 3526064 Stoploss
Stoploss's picture

No pomo today??

Fri, 05/03/2013 - 08:42 | 3526107 I am more equal...
I am more equal than others's picture

Remember 1979 was at the end of Jimmy Carter's term and things really sucked then.  WIN - whip inflation now - remember that button? Bernake wants inflation.  Go figure. 

There was global cooling in the 70's now Gore says there is global warming.  Go figure.

Fri, 05/03/2013 - 08:46 | 3526128 LawsofPhysics
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Only if interest rates can rise.  They cannot, this will be inflation via currency collapse, world war will follow.

Fri, 05/03/2013 - 08:48 | 3526139 Bearwagon
Bearwagon's picture

Not yet, wait for the initial (transient) deflation to pass ...

Fri, 05/03/2013 - 09:07 | 3526268 LawsofPhysics
LawsofPhysics's picture

With over 16 trillion in "official" debt.  If rates go much above 2.0% on the ten-year it's game over and the U.S. will hard default (as opposed to the soft-default we have now).  Should that happen, civil/world war will follow.  Hedge accordingly.  

Fri, 05/03/2013 - 09:13 | 3526287 GetZeeGold
GetZeeGold's picture



Don't let Paul Volcker anywhere near the war room. No way in hell we can afford 1980s interest rates.

Fri, 05/03/2013 - 08:41 | 3526101 spastic_colon
spastic_colon's picture

you didnt think they would just tiptoe across 1600 ES did ya?  gotta make it look like its goin to 1800 /s

Fri, 05/03/2013 - 08:49 | 3526105 unununium
unununium's picture

It is "maximum fudge" season for the BLS artists.

Fri, 05/03/2013 - 09:14 | 3526297 CVfriendship
CVfriendship's picture

Wait....isn't the decline in the participation rate just due to the aging population retiring and moving their qualified money into fixed (also explains the inflow into bond funds)... I mean we are ALL getting older right?.......................................................... I can hear this on CNBS already.

Fri, 05/03/2013 - 08:36 | 3526052 SheepDog-One
SheepDog-One's picture

Imagination Land

Fri, 05/03/2013 - 08:37 | 3526054 thismarketisrigged
thismarketisrigged's picture

bad jobs report= market goes up 100 plus pts


good job reports= market gos up 500 pts. this is comical, i really hope all these fed guys die along with obama.


stop the qe fuckers if things are so good


also isnt it hilarious how when the numbers last month were horrible it was the weather, but now all is good?


i guess the weather was amazing this past month

Fri, 05/03/2013 - 08:39 | 3526080 docj
docj's picture

stop the qe fuckers if things are so good

Yep - if "the world is saved" then why is the Fed still  pumping $85B a month into Fraud Street and the Fed.Gov still running $1T +/- in deficit every year?

I know, rhetorical. I denounce myself.

Fri, 05/03/2013 - 08:54 | 3526190 FreeNewEnergy
FreeNewEnergy's picture

I hear self-denouncement beats self abuse by a mile. Was it good for you?

Fri, 05/03/2013 - 09:19 | 3526318 Al Huxley
Al Huxley's picture

SOMEBODY needs to fund that $trillion deficit.  And if they can kill 2 birds with one stone by simultaneously cleaning up their masters balance sheets (at least as long as Treasuries are treated as safe 'investments'), well then it's a win-win for them.

Fri, 05/03/2013 - 08:36 | 3526056 Edward Fiatski
Edward Fiatski's picture

Uh, oh - March revised from 88k to 138K.

Face melt ON!

Fri, 05/03/2013 - 08:39 | 3526072 depression
depression's picture

hours worked down

temp employment + 60K in last 2 months

obamacare tax law kicking into gear

Fri, 05/03/2013 - 08:39 | 3526084 LawsofPhysics
LawsofPhysics's picture

Exactly, and what about the average wage?

Fri, 05/03/2013 - 08:41 | 3526091 Edward Fiatski
Edward Fiatski's picture

Part time employment skyrocketing due to ObumerCaer 29 hrs.

Just be more productive, bitchez. ;-)

Fri, 05/03/2013 - 08:55 | 3526201 depression
depression's picture
In April, the number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) increased by 278,000 to 7.9 million
Fri, 05/03/2013 - 09:48 | 3526481 max2205
max2205's picture

I wouldn't trade that participation chart...take the other side.  IRobots coming to wallmart

Fri, 05/03/2013 - 09:05 | 3526244 Chief_Illiniwek
Chief_Illiniwek's picture

Party like its 1979!

-Prince Osama Obama

Fri, 05/03/2013 - 09:27 | 3526375 Ayn NY
Ayn NY's picture

At least the 70s were fun.

Fri, 05/03/2013 - 08:37 | 3526059 kw2012
kw2012's picture

Looks like gold and silver traders had the data an hour early.


I also don't really believe the numbers.

Fri, 05/03/2013 - 08:43 | 3526112 Edward Fiatski
Edward Fiatski's picture

Numbers are legit, but part time is the new full time in this economy/decade/century. 

Fri, 05/03/2013 - 09:11 | 3526262 FreeNewEnergy
FreeNewEnergy's picture

Yup. 7.9 million involuntarily part-time workers. Doe that mean my five-hour work day makes me involuntarily poor? Because if it does, it's a total canard. I signed up to be poor. My case worker said it was the only way to go.

Then there's the 2.3 million who are marginally attached. I really think what's marginally attached is credibility to the BLS numbers. Same goes for the Fed, the federal govt. and right on down the line to my corrupt, banal, overfed, dishonorable, impudent town officials.

This report really ruins my weekend. I was hoping to hear more excuses. Sadly, we're winning (shades of The Producers).

Well, back to pounding more sand for my masters...

Fri, 05/03/2013 - 08:36 | 3526060 Dr. Engali
Dr. Engali's picture

They better not let that unemployment rate drop too low, Ben will lose some cover to print moar.

Fri, 05/03/2013 - 09:22 | 3526347 youngman
youngman's picture

Ben has a RED LINE in the 6.5%.....I hope its redder than Obama´s RED LINE...Obama's line moves alot...and fades out

Fri, 05/03/2013 - 08:37 | 3526061 SheepDog-One
SheepDog-One's picture

Huh....seems the 'terrible sequester' is actually very GOOD for jobs after all!

Fri, 05/03/2013 - 08:37 | 3526062 Surly Bear
Surly Bear's picture


Mother's Day Card sales helped push this numbers up/down....


Fri, 05/03/2013 - 08:38 | 3526068 CrimsonAvenger
CrimsonAvenger's picture

Dow15K just around the corner. Who had the foresight to print hats?

Fri, 05/03/2013 - 08:41 | 3526098 HulkHogan
HulkHogan's picture

S&P 1600!

Fri, 05/03/2013 - 08:49 | 3526142 Chief Falling Knife
Chief Falling Knife's picture

And after that it'll be Nasdaq 3,500.. and then S&P 1,700.. then DOW 16,000... etc.. etc.. etc.. etc

Fri, 05/03/2013 - 08:38 | 3526070 pods
pods's picture

Wasn't it a couple years ago when it took 300K+ to just keep up with population growth?

Beating expectations all the way down.


Fri, 05/03/2013 - 08:38 | 3526078 LawsofPhysics
LawsofPhysics's picture

"Beating expectations all the way down." - Hey that's my line...

Fri, 05/03/2013 - 08:39 | 3526087 pods
pods's picture

<hat tip>

My bad. 



Fri, 05/03/2013 - 08:47 | 3526129 fonzannoon
fonzannoon's picture

My only guess here is this made up horseshit number and revision will be immediately followed by massive downgrades across the board for gold and another giant paper dump.

That being said, this is a nightmare. People will now chase the S&P to 1700.

Fri, 05/03/2013 - 08:57 | 3526217 pods
pods's picture

I honestly don't think they can really arrive at a number.  When the month before has a ~50% revision it tells me that they are just reporting what their program tells them.

If I actually tried to report a result with an RSD of ~50% I would be part of the 7.5%.  

Ain't even in the same ballpark.

Jules: Ain't no fuckin' ballpark neither. Now look, maybe your method of massage differs from mine, but, you know, touchin' his wife's feet, and stickin' your tongue in her Holiest of Holies, ain't the same fuckin' ballpark, it ain't the same league, it ain't even the same fuckin' sport.

I think Jules said it quite well.


Fri, 05/03/2013 - 09:06 | 3526264 fonzannoon
fonzannoon's picture

why we all make a big deal out of this report is beyond me. My guess is the few actual people on here trading were probably just caught short (again). Other than that, like Doc pointed out, it's just robots throwing hot potato's at each other.

I do fantasy football. The league owner has a dog. Every August he sets up 9 boxes and numbers them 1-9. His dog goes out every day and takes a shit in a box. That is how the draft order is determined. My guess is they do something similar for NFP.

Fri, 05/03/2013 - 09:10 | 3526281 FreeNewEnergy
FreeNewEnergy's picture

+10,000, pods, for Pulp Fiction reference.

Fri, 05/03/2013 - 08:38 | 3526071 LawsofPhysics
LawsofPhysics's picture

Can I get 1979 prices on diesel?  That would be great!  Long sharecropping!!!

Fri, 05/03/2013 - 08:38 | 3526077 mdtrader
mdtrader's picture

And the huge upward revisions.

Fri, 05/03/2013 - 08:39 | 3526083 firstdivision
firstdivision's picture

Told you guys it'd be a beat.

Fri, 05/03/2013 - 08:41 | 3526097 wonderatitall
wonderatitall's picture

holy holy , the obama economic miracle of billions for bankers and food stamps for the rest is in high gerar...170.000....puh leeze.. and harvey found a dollar..gdp at 66%

Fri, 05/03/2013 - 08:40 | 3526092 thismarketisrigged
thismarketisrigged's picture

they had to rigg the number today because there is no pomo, so the only way the market can go up today is a solid number.


any bad number and we would be down 300 pts today with no fed backstop.


labor participation rate is fucking flat yet this is great news.


i cant wait for all these fucking traders to be in a bloodbath in the market

Fri, 05/03/2013 - 08:40 | 3526093 NoWayJose
NoWayJose's picture

There are some Fed governors recognizing the uselessness of more QE. If they can jack down these numbers a little further then they can give the Fed a face saving chance to reduce or stop QE. Otherwise, this number is garbage.

Fri, 05/03/2013 - 08:40 | 3526095 PaperBear
PaperBear's picture

It's like the last 34 years didn't happen.

Fri, 05/03/2013 - 08:42 | 3526108 pods
pods's picture

Sweet, I'm going back to playing with matchbox cars and burning things with a magnifying glass.


Fri, 05/03/2013 - 09:36 | 3526418 VelvetHog
VelvetHog's picture

Wear your sunglasses.

Fri, 05/03/2013 - 09:39 | 3526436 gaoptimize
gaoptimize's picture

I can't.  All my matchbox and hotwheels cars were lost to possitive camber.  Never figured out how to fix that.

Fri, 05/03/2013 - 08:43 | 3526110 SheepDog-One
SheepDog-One's picture

'Following last months disappointment it was only logic to assume a modest beat this month'....but wait...what about all the 'devastation to jobs' I've been hearing about on the newz...where's that?

Fri, 05/03/2013 - 08:43 | 3526111 billwilson
billwilson's picture

Goods producing -----> -9,000 (Yes! minus!)

Service ----------------> +185,000

So jobs in retail and bars and restaurants and temp positions ... that is how you build a solid economy. Screw construction, mining, and manufacturing. Those low wage jobs will surely boost the economy.

Fri, 05/03/2013 - 08:52 | 3526167 fonzannoon
fonzannoon's picture

That's how you build a third world country

Fri, 05/03/2013 - 08:54 | 3526194 Edward Fiatski
Edward Fiatski's picture

This was expected, given the manufacturing PMIs.

It's a post-industrial economy. :)


Fri, 05/03/2013 - 08:44 | 3526114 Serfs Up
Serfs Up's picture

Let's see an average of 150k jobs per month, at the very reasonable cost of only $85 billion in thin-air money, that works out to...carry the only $566,666.66 per job.


Well done Bernank!  It's almost impossible to tell you never held a real world business position!...   ;\

Fri, 05/03/2013 - 08:45 | 3526121 q99x2
q99x2's picture

People are finally realizing that they don't have to work.

Fri, 05/03/2013 - 08:51 | 3526162 Bearwagon
Bearwagon's picture

There's no business like no business!

Fri, 05/03/2013 - 08:52 | 3526168 realtick
realtick's picture

exactly - even obama barely works

Fri, 05/03/2013 - 08:45 | 3526123 thismarketisrigged
thismarketisrigged's picture

last month was historically bad at the time especially and the market was fucking flat that day.


someone fucking explain how this is legal?


why why why is nothing being done to stop this criminal shit. why is bernanke and obama not being hung today in public infront of everybody? why why why

Fri, 05/03/2013 - 08:46 | 3526125 bnbdnb
bnbdnb's picture

Household Employment Overall:
65+ Employment: +156k
16-64 Employment: -130k

Fri, 05/03/2013 - 08:46 | 3526127 dereksatkinson
dereksatkinson's picture

Birth/death added 192k..  So we actually lost jobs.

Fri, 05/03/2013 - 08:50 | 3526156 Racer
Racer's picture

So the 'market' is celebrating fake imaginary jobs, well it is a fake 'market' so not surprising really.

Got to keep the smoke and mirrors active and benefit the 0.1% at the same time

Fri, 05/03/2013 - 08:47 | 3526133 Yen Cross
Yen Cross's picture

 Like a glove. Time to short aud/jpy

Fri, 05/03/2013 - 08:47 | 3526134 Hongcha
Hongcha's picture

Ramp and camp.

Fri, 05/03/2013 - 08:47 | 3526135 billwilson
billwilson's picture

Birth/Death model = +193,000 ... Hooray!

Fri, 05/03/2013 - 08:52 | 3526166 Racer
Racer's picture

The USSA is better at manipulation than Russia and China now

Fri, 05/03/2013 - 08:49 | 3526144 DannyTX
DannyTX's picture

So a bunch of new burger flippers just got hired at minimum wage.  The participation rate is the lowest ever.  Big fucking deal.  Look at the futures.  You would think they would tank because the punch bowl should be pulled back now because unemployment is going down----yeah right. 

Fri, 05/03/2013 - 08:51 | 3526163 thismarketisrigged
thismarketisrigged's picture

so today we will hit 1600 on s&p and 15000 on dow.


wow, what a fucking good way to enter the weekend.


because these numbers actually indicate a strong economy, only a fucking gulible son of a bitch believes these numbers are real.


i guess people who work 1 hour a day are considered employed, and part of the jobs added

Fri, 05/03/2013 - 08:52 | 3526170 bnbdnb
bnbdnb's picture

+278,000 part time

-113,000 full time

+165,000 total

Fri, 05/03/2013 - 08:52 | 3526174 kw2012
kw2012's picture

Average hours worked down .1, isn't that like losing 250,000 jobs?


Smoke and mirrors report.

Fri, 05/03/2013 - 08:58 | 3526230 Racer
Racer's picture

"This is a problem.  If we look at the "employed" figure of 143,724,000 people a drop of 0.2 hours is a full-time-equivalent decrease of 1/2%.  Applied to the employed population this amounts to an imputed economic decrease of 718,620 jobs!

That is, the loss of work-week hours of just 0.2 is the same economic impact as firing 700,000 people!

There is a huge problem coming this year and into next in this regard as the trend of cutting hours back to get under Obamacare limits is picking up steam and will continue.  

Do not underestimate the economic impact of those hours-worked changes -- you'd have to post up a +700k jobs figure to offset just this one month's change in hourly workweek!"

Fri, 05/03/2013 - 09:45 | 3526458 gaoptimize
gaoptimize's picture

What I would like to have someone do is compare a list of BLS employees to the customer list at  It seems like at least the clever ones would see the writing on the wall through the propaganda.

Fri, 05/03/2013 - 08:53 | 3526175 Dr. Engali
Dr. Engali's picture

835,000 doscouraged workers, that falls roughly in line with the 875,000 people on the terrorist watch list in the fed data base...seasonably adjusted of course.


Fri, 05/03/2013 - 08:53 | 3526179 Rodders75
Rodders75's picture


Sour grapes from everyone on this website.


Why can't you learn to love Bernanke, love Obama, love QE. It just takes a little will power. Stop being so negative all the time. 


(Putting on crash helmet & body armour before the abuse comes raining down). 

Fri, 05/03/2013 - 08:59 | 3526233 thismarketisrigged
thismarketisrigged's picture

 @ Rodders75,''Why can't you learn to love Bernanke, love Obama, love QE. It just takes a little will power. Stop being so negative all the time. ''


i will never lose those fucking bastards. they deserve the most painful type of death there is. these are evil people stealing from every single one of us. i should like qe?


do you really fucking think i am going to buy aapl at 450, or goog at 840, or any of the financials at their inflated prices, or any fucking stock at there inflated prices.


i refuse to participate and pay an insane amount of money for these companies which are worth half of what they are trading for. only a sucker would buy goog now for 840 a share. ya goog at 840 a share, its worth maybe 240 a share

Fri, 05/03/2013 - 09:54 | 3526506 gaoptimize
gaoptimize's picture

I'm not sure Bernanke is evil, but more probably a fool, a coward, and a liar.  Have you ever nearly drowned, and the panic sets in?  I have 3 times.  I think that is where Bernanke is about now.  I can hear it in his voice during his press conferences and congressional testimony.  Someone close to him should tell him about the great feeling you get when you acknowledge the truth and say you are sorry to those people you've hurt, and then try to correct the situation.

Fri, 05/03/2013 - 09:20 | 3526331 FreeNewEnergy
FreeNewEnergy's picture

I up-voted you because I am a contrarian, but, really, I don't like the 'Bamster, the Bernank nor the QE (which I believe stands for Queer Economics).

Fri, 05/03/2013 - 08:53 | 3526183 ak_khanna
ak_khanna's picture

The true extent of slowdown in the world economy can be judged by the data points which are not subjected to adjustments by the government. Eg. Change in Electricity and Fuel consumption, Ratio of working population to the total population of a country, Miles driven, Baltic Dry Index, Change in commercial Rental Rates etc.

Fri, 05/03/2013 - 09:14 | 3526298 LawsofPhysics
LawsofPhysics's picture

I have enjoyed reading your work, and yes the top 1 % have betrayed nations.  All the top management at TBTF and the Fed over the last 20+ years need to be put in prison and the institutions broken up.  Unfortunately, these same people control governance and the justice departments.  History is very clear on how fascism and tyranny are kept in check and that is by force.  Nothing else has ever worked, it's that "simple".

Fri, 05/03/2013 - 08:55 | 3526198 WatchingIgnorance
WatchingIgnorance's picture

Well, if we can get that participation rate down, we will have full employment.

Fri, 05/03/2013 - 09:33 | 3526401 Shizzmoney
Shizzmoney's picture

Terrorism against regular people, and death, is bullish for the government.

We had 2 people leave the workforce in Boston alone this month thanks to those two Russian assholes.  #bullish for markets.

Fri, 05/03/2013 - 09:01 | 3526224 MFLTucson
MFLTucson's picture

Can  someone explain to me how in the hell 165,000 jobs is good with the debt we have and the participation rate at 63.3% (1979 numbers)?  I simply dont get it!  One last thing, explein to me what better than expected means when you have a collapsing infastructure and wealth distribution and a stock market in nose bleed territory on printed money?

Fri, 05/03/2013 - 09:03 | 3526250 thismarketisrigged
thismarketisrigged's picture



let me explain to you how 165,00 jobs is good with the debt we have.


its not good at all, it fucking sucks. however, when these clowns put expectations so fucking low and when they put the march number at 88k, anything is going to be considered good.


also consider that there is no pomo today, the only way the market would be green today is with a blowout number, and although this number fucking sucks,  compared to 88k its great.


they really got to stop releasing these bs numbers. its such a fucking joke.


they needed to make sure aapl hit 450 today so they needed to gurantee the nasdaq be up another 1 plus percent.


bottom line, this number fucking sucks, and i continue to buy more gold

Fri, 05/03/2013 - 09:15 | 3526306 LawsofPhysics
LawsofPhysics's picture

It's not good, but today is a non-POMO day.

Fri, 05/03/2013 - 09:00 | 3526240 ebworthen
ebworthen's picture

Anything below 500,000 is not enough to get us out of depression or debt.

"Hey baby, I've got a huge 4" long 1" circumference man hammer for you."

Lower expectations and the mawkets go to all time highs.


Fri, 05/03/2013 - 09:02 | 3526248 MFLTucson
MFLTucson's picture

Thanks because raeding this and apply SOME economic logic, I see a disater and yet the stock marekt is over 1600 on the S&P?

Fri, 05/03/2013 - 09:05 | 3526257 thismarketisrigged
thismarketisrigged's picture

@MFLTucson, this market goes up on anything.


if u recall the march number, 88 k, the markets were fucking flat that day, despite that being as bad of a report as can be.


now any mediocore at best number, markets go up crazy. trust me will have our day when all these thieves suffer.



Fri, 05/03/2013 - 09:20 | 3526332 Sudden Debt
Sudden Debt's picture

4 inches.... well... I hope for your sake that it's only 4 inches in sleep modus...

Fri, 05/03/2013 - 09:12 | 3526273 Shizzmoney
Shizzmoney's picture


Chg in the age 25+ labor force over the past yr: bachelor's degree and higher +1504k, less than a bachelor's degree -797k.

What does this go to show you?

If you didn't submit to debt serfdom - you are nothing to Corporate America.....and to the Corporation that is the American Government.

Employment change over past 12 months: <High School -227k HS grad -315k Some College +555k College +1,498k

Jobs growing at 196k monthly in 2013. At that pace, employment will return to pre-recession levels in 7 yrs and 10 months

Of course, the Obama Admin predicted this to happen by the end of summer, 2013 LOLOLOLOLOLOLOL

Fri, 05/03/2013 - 09:13 | 3526292 Mojeaux18
Mojeaux18's picture

If net jobs created was 165K and part timers increased by 278K that means a net LOSS of 113K Fulltime Jobs.  Thank you Obamacare.  We are becoming Part time Obamanation.

Fri, 05/03/2013 - 09:19 | 3526323 Sudden Debt
Sudden Debt's picture



Fri, 05/03/2013 - 09:39 | 3526434 Mojeaux18
Mojeaux18's picture

Maybe I am your because you just described my wife.  OK.  Same wife? Akward....

Fri, 05/03/2013 - 09:22 | 3526345 adr
adr's picture

If I make a bumper sticker "Goebbels ain't got nothin on .gov", you think anybody would get it?

Maybe it would be a good way to meet people I'd like to have a beer with.

Fri, 05/03/2013 - 09:56 | 3526514 orangegeek
orangegeek's picture

Dow Jones hit 14990 - that's 14.4% return in 4 months of 2013.


That's about a 40% annualized return.


LMFAO!!!!   Everyday this world gets better.


Excuse me while I return to watching the riots in Seattle.

Fri, 05/03/2013 - 10:24 | 3526644 Tombstone
Tombstone's picture

This is your commander Benny,  lemmings: CHARGE!  Dow 66,000.

Fri, 05/03/2013 - 10:27 | 3526663 RaceToTheBottom
RaceToTheBottom's picture

Doesn't the reduced participation rate indicate that we are all going back to June Cleever's lifestyle?  Except that we now have alternate couples?

Fri, 05/03/2013 - 10:28 | 3526665 Lendo
Lendo's picture

Zero manufacturing jobs added.  Bullish! 

Fri, 05/03/2013 - 10:49 | 3526829 monad
monad's picture

835,000 discouraged workers?


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