This page has been archived and commenting is disabled.
The Hiringless Non-Recovery In Full Farce
The latest JOLTS numbers are out, and while most economists look at the simple headline Job Openings number, which printed at a disappointing 3.974MM, below the expected 4.015MM, and a drop from the unrevised 3.990MM last month (conveniently revised lower to 3.914MM to make the sequential change appear as an increase), as well as down from the 4.126MM in November, far more interesting data can be found in the Hires and Separations data series. As we have shown before, when it comes to the "recovery" in the job market, there is no greater myth than "employers are finally looking to hire at past economic peak levels." Because while the monthly job increase may have stabilized in the mid-100k range, the actual hiring is nowhere near close to where it should be based on historic patterns.
The chart below shows that while there has traditionally been near 100% correlation between the 1 year cumulative change in payrolls, and the monthly amount of job hires, in the New Normal this is anything but true.
The simple explanation: the only reason why it "seems" things have gotten back to normal, is not because there is hiring, but because companies have put a freeze on terminations, and with quality jobs few and far between, workers still refuse to leave existing jobs voluntarily, further confirmed by the Quits print which just dropped to 2.375MM, the lowest since October as confidence in finding a better paying job has rapidly evaporated. Perhaps the snow is to blame for that too?
Finally, confirming just how bad the job situation has gotten recently, here is the JOLTS chart of net turnover, i.e., hires less separations which is the functional equivalent of the NFP's monthly job gains print, which according to JOLTS in January printed at the lowest level since August 2012.
Wait for it... wait for it... "Snow."
»
- 1958 reads
- Printer-friendly version
- Send to friend
- advertisements -
If you like your food stamps... you can keep your food stamps. Oh wait.. fuck you and get a job.
Hiringless -> Hiringnone -> Firingmore
I'd like to fire that guy in the white house and his sasquatch wife
That's rayciss. I thought she was a wookie?
That's like sayin Im rayciss if I dont like owls
Fuckin' creepy-ass owls...
http://tubaeric.tumblr.com/post/7354893663/owls-confirmed-to-be-the-cree...
"Use the Farce Barry" - Old Ben Bernankenobi
Sucking on Leviathan's teat is liberating.
If you like your job… sit tight. We'll get to you.
Workers..... Lol. Workers are sooooo 20th century. The new normal is robots, slave labor, and snap. That brief anomaly in human history when workers had leverage is over.
True dat.
Next stop, serfdom and the return of Feudalism.
Tom Purcell wrote on this very subject in his book. "The Return of the Kings".
..problem is most people's idea of history begins with their birth and they tend to believe only that which is comfortable to their preconceived views.
http://www.claremont.org/repository/doclib/riseandfall.pdf
Release the Sardaukar and muster the Rohirim.
"companies have put a freeze on terminations,"
I don't know about that there was a massacre here past 2 weeks at my company.
"Hiringless Non-Recovery In Full Farce"
Sounds lyke un Irush ahccent.
hey who da fuck wants to work when mom and dad provides untill you're like 40 or something years old!
Stop printing money you mother fuckers and let's see what this bitch is really made of...
Time to shut the H-1B program down until the flow of resumes at the tech and financial companies is manageable. Last I heard, Yahoo was still receiving 12,000+ resumes per week. And that's just Yahoo, not exactly a pristine name. Numbers must be a multiple of that at Google, Microsoft, etc. With huge numbers of domestic techies unemployed or underemployed, deporting the H-1B's would really help the situation.
Please. The reason why H1-B visas are so prevalent in those tech companies is because nobody wants to work a decent job that is related to their major and get paid a liveable wage. Imagine if you will a tech student that just graduated overburdened with debt. They see that the economy and these companies aren't doing so well so they say to themselves "I think it would be better for the company if they get these H1-Bs so they can get on their feet to the point where they can hire me". Also, we need to think about how much people like working in the services industry; where you meet lots of people and such. /satire
don't drop that shit .. (you'r current job)
http://www.youtube.com/watch?v=Y5PZ290rCfo
At lease Obamacare has got us covered!