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July Payrolls: 209K, Below Estimate; Unemployment Rate Rises To 6.2%; Wage Growth Below Estimate
If today's market desperately needed some bad news, it got it moments ago when the July payrolls printed at 209K, below the 230K expected, and far below the June upward revised 298K (was 288K). Of note is that this is the 6th month in a row of 200K+ job gains, the longst since 1998 . Away from the establishment survey, the household survey showed an even worse print, with just 131K job growth in July, down from 407K in June, so if any algos are scrambling to convince themselves that the data was horrible, look at this. But is the momentum slowing enough to force the Fed to push QE back? The unemployment rate rose modestly from 6.1% to 6.2%, beating expectations of an unchanged print driven by a decline in the people out of the labor force from 92.1 million to 92.0 million while the labor force participation rate rose by a tiny 0.1% to 62.9%.
The labor force charts: the people "out of it" declined by 119K to 92,001, while the LFP rate rose modestly from 62.8% to 62.9%. Fewer people retiring?
Full-time jobs rebounded modestly, rising by 285K in July following June's 523K collapse, even as part-time jobs continued rising, increasing by 52K in July, after +799K in June.
And perhaps the most imporant chart: average hourly earnings, rose just 2.0%, following a downwar revision to June's 2.0% to 1.9%, below the 2.2% expected. So much for those soaring labor costs.
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Still in a Recovery....
Layoff / Closing List: http://www.dailyjobcuts.com
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Look it's a good number overall. I mean over 200k is impresive and it shows we still may track near 3% gdp. Based on that, you just gotta be buying stocks here.
But, there is some softness in the report and wage growth is muted and some other things were soft. Based on that, you just gotta be buying bonds here.
Stocks and bonds.
Yup Fonz.....let the shit-show go on.....it must go on...it HAS to go on....
until it doesn't
Trapped in a corner.
Nothing else TO do....but fiat fiat FIAT baby!
I'm out of stocks, except for a few miners and the SDS I bought last week at 25. Still expecting the Fed to shape employment and inflation data around a policy of rising interest rates, and stocks going down, bonds up, until eventually bonds sell off with resumption of the PM bull. All transpiring over the next year or so.
BREAKING: Secretary of State Lurch announces that he has convinced Israel to give Hamas 72 hours to re-arm.
That is Lurch giving a secret signal to CONgress that the IOF is running low on free munitions.
Duh.
pods
The 72 hour cease fire lasted 90 minutes. I believe this calls for the Nobel Peace Prize
Nobel pizza delivery.
So the CIA spied on the Senate. No big deal, they DID say they are sorry.
But Christianity is funny like that. Saying sorry is good, but to be forgiven, one must REPENT. Sincere penitence and remorse.
Bottom line, you can't apologize for doing something, and then keep doing it!
The Muslims don't even do that. Its all for Allah, lies, murder and all. Abrogation I believe they call it.
As with most ideologies, it is understood you must break a few eggs to make a good omelette.
With QE going bye-bye bad news may take it's rightful place now as, 'bad-news.'
Obama created 2 new jobs today........Sasha and Melia must make their beds
"Secretary of State Lurch announces that he has brokered a 72-hour cease fire so that the U.S. can re-arm Israel" - Fixed it for you.
And that's the best LIE they could come up with? It must be getting real bad now.
Oh puhleeeze fonz..
What part of yesterday was a 90% down day don't you get?
Headbanger, I understand your sentiment in wanting to fight this market. I just hope you see the complete and incredible pristine irony in your screen name and avatar.
And the mini-pukes on gold continue...
Fuck you fonz !
You're telling the mooks here "based on that buy stocks"
Based on WHAT you fucking bankster asshole?
You might want to replace the batteries in your sarcasm detector.
Well excuuuuuse me sir. First off my sarcasm seems to go over your head.
In any event, allow me to retort...
In all your stupid charts that you constantly post that have nothing to do with anything you seem to constantly miss this one
http://finance.yahoo.com/q/bc?s=SPY+Basic+Chart&t=5y
If you hate this market so much and the banksters involved, have you ever considered the thought of ceasing to play in their casino?
Nah...keep banging that head...
So you admit it that you're a shit ball bankster now!
Thank you !
Ooooo! Ooooo! Can I be a shitball bankster, too? I do the same thing fonz does! Pick me! Pick me!
You own a nailgun? You qualify.
To the effect that I am involved in the markets? It took you until now to figure that out? I just figured out your vocation, detective, right?
Anyway if I am a shitball bankster then has it occurred to you that you are a muppet retard? Don't reply all mad immediately. Just let that hamster wheel digest that a bit.
Once you are firmly out of the markets for a year or so and the hypocrisy of your comments dies down I promise to let your criticisms sting a bit.
He was being sarcastic. I thought you would have noticed. Or are you being sarcastic too?
His lack of sarcasm and understanding of sarcasm just makes his avatar more and more precious.
It can be a problem here.
Welcome to Zero Hedge. Warning: From time to time, Newbies and Old Timers may say exactly the same thing but the Newb is being serious and the Old Timer is either being sarcastic or his name is MillionDollarBonus_.
But I still don't understand Headbanger not getting it. Unless he was also being sarcastic or he has been replaced by his son or has been abducted by aliens. Or perhaps I don't pay enough attention to who says what and shouldn't make that call. I'm so confused.
Its the participants that make the market. You know its broken corrupt and ultimately is being used for nefarious purposes but yet stay in. What do you really expect? Are you just another potential innocent victim that never saw it coming or are you part of the problem?
Both
That is a good, honest answer.
WE are all the problem with all of this. We hate the rent seeking but if inflation is 8% a year nobody is gonna take that in the cornhole year after year like that without trying to make back the inflation skim. Gold is a good place to dump FRNs but that is not workable day to day unless you want your LCS guy to roll his eyes at you daily as you go between PMs and fiat. (you lose his take both ways too)
Then there is the debt angle. We have the power to stop all of this by avoiding debt.
But game theory posits that if we all avoid, the one who doesn't and uses debt will gain the most from being leveraged. So everyone racks up the debt.
So we are fucked on that one too.
Just no good answers until something goes boom. But then again, most people see nothing wrong with this system (as opposed to say in Orwell's 1984) so they will gladly fall for the next debt backed banker owned currency that comes along.
Ugh, man I hate fucking knowing this shit. Where the hell is Cipher with that GD Blue Pill?
pods
All I can figure is you have to get yourself physically to a place where you can lower your overhead as much as possible and maxamize income as much as possible. Avoid debt as much as possble and own real goods. Teach your kids as best you can and sorround yourself with good people.
Nobody has any power to change where this is going on a larger level so all you can do is minimize it to it's most basic personal level and act accordingly.
The family and I are looking at moving to Texas (from California) for this very reason. We already have some family and friends out there and there is a job waiting for me there for the asking.
Once you take the Red Pill there is no turning back. You are going into the Rabbit Hole.
Now you can fight that if you'd like. You only will slow down the process. It is wasted energy.
Nobody ever promised that the Truth would be comfortable. In fact learning the Truth will be Hell for most.
Oh I have been digging for quite some time, passed Alice a long time ago. Actually went through the whole anger, depression, hope, etc. Everyone does.
pods
And therein lies the problem. We think we can play it down the middle. Yes, we are all complicit in some way as we carry dollars in our pockets, but surely you must see that these "markets" are the primary lever that is being used to extract people's wealth. When we buy stocks or bonds or even borrow money, we are empowering them to rule over us. The reason the markets are as high as they are is because realistically no one can get out without bringing it all down, and ultimately there is now no place left to go. Imagine if all this money that has been "invested" in the markets was actually invested in real businesses. All this talk about how the "rich" are controlling things yet it is the investor who is putting this wealth into a black hole that the big boys control. It is the investors who have abandoned main street for the lure of easy money that wall street promises. Put your money where your mouth is. Start a small business and hire someone. Find a small business that is strapped for cash and loan them the money instead of forcing them to go to the BANK. There is a difference between investing and gambling. Investing takes work, the gambler simply places bets with the casino, owned by the mob. AS Hillary says though, "what difference does it make", right?
It is the investors who have abandoned main street for the lure of easy money that wall street promises. Put your money where your mouth is. Start a small business and hire someone. Find a small business that is strapped for cash and loan them the money instead of forcing them to go to the BANK. There is a difference between investing and gambling. Investing takes work, the gambler simply places bets with the casino, owned by the mob.
Well I have a problem with that currently. If I were to invest into Main Street then the people whom I invest in still support the Beast.
The best bet is to remove your participation completely. Withdraw. Place your Capital in Gold and minimize your footprint.
THEN AFTER IT COLLAPSES then you put your Capital into the ruins to rebuild it. You become the Banker...AN HONEST BANKER. (I know that seems to be an oxymoron today. But it was not always that way.)
So you do not act fraudulently as the Bankers before you have.
If the Beast is not killed then it will still rule, diminished of power. But power is relative.
Starve the Beast first. Then after it has died its deserved death then rebuild from the ashes. The Beast must die for any hope of recovery to manifest.
The Bankers, the psychopaths who created this, must be killed. They must face the Blade. That is only just.
Fonz explained himself a few years ago and I thought he did it quite well. Unfortunately I can not find the exact wording, either through internet search or on my computer, as I did save it at the time as evidence that I am not the only crazy one. Perhaps it is written on my broken computer.
Basically, he said that he felt like he was the driver of a car with no brakes, going very fast down a steep hill with while the passengers yell, "Faster, faster" and pedestrians asking if they can jump on board.
Given that I cannot find the reference to this claim, I will allow Fonz to tell me if my memory is faulty.
Pretty much and thanks for remembering. At some point with every person I interact with I dispense the advice I gave above. The bottom line is the system is forcing people into the markets through zirp. The amazingly disturbing beauty of it is the ability to shape people's minds into thinking they are a willing participant. But either way I try to explain things as I see them. That's about all one can do.
Where can I git me sum dem dare stawks and bawnds ?
I gawt lawts I'd sell you, just let me milk the last little bit out of 'em first...
Is it just me......or does this feel like 1986?
Bad question....cause a lot of you probably even born yet....and we didn't know how to print money back then.
86?
Damn, back then I was finger- banging old Mary Jane Rottencrotch through her perty pink panties.
pods
I was thinking more like '84 but that's probably just me...
It was 'mid-80's' anyway and as a purchasing agent for a Fortune 50 company at the time, inflation was kicking prices so fast that before the ink dried on a PO the price was going up and we were making change-orders like crazy. It was not fun. So yeah - this does kind of feel like the eve of the mid-80's redux.
@fonz
LOL. Is that a that a cut and paste from LaVorgne?
Cursive I have concluded that the less I think, the better off I am. I lost my gold in an unfortunate accident like everyone else a long time ago. I have some other forms of insurance, should I wake up in a very different world tomorrow. But between now and then it's all fart jokes for me ( I will probably continue the fart jokes even then). I will leave the deep thought and analysis to others from here on out.
We're in the same place Fonz.
I figured as much. May as well just enjoy the ride, right?. There's no getting off this boat now.
Exactly. Life's to short to do otherwise.
And possibly preparing to get harder and shorter. It is possible to live for today and plan for the future (as unknown as it is), it just isn't easy. Almost bipolar.
@fonz
You know I enjoy your deep analysis or you fart jokes equally. Yeah, I agree that these are surreal times. Sure enough, the worm will turn and reality will come rushing back with a vengeance. Manage your skull and your friendships is my best advice for "insurance". You have an open seat at my table, just no cropdusting here, please.
LOL i appreciate the invite and promise to work on my manners.
I thought I was the only sap holding miners still (not just for PMs, but all those rare earths too).
channeling MDB
They just got number exactly where stock market wanted it.... Must be stupid to beleive
"Just make sure they're the right ones. Don't just buy any old thing. Know what I mean? By something SPECIAL.
TREAT YOURSELF!"
Stocks and bonds.
But it's so simple. All I have to do is divine from what I know of you: are you the sort of man who would put the poison into his own goblet or his enemy's? Now, a clever man would put the poison into his own goblet, because he would know that only a great fool would reach for what he was given. I am not a great fool, so I can clearly not choose the wine in front of you. But you must have known I was not a great fool, you would have counted on it, so I can clearly not choose the wine in front of me.
so good, it had to be repeated.
...and by "Recovery", you actually mean the patient is dead on the table, and medics are feverishly pounding his dead chest, injecting the corpse with Morphine, and simultaneously calling the time of death and thinking up ways to blame/hide/cover up the death....
Metaphorically speaking....
Right?
Unfortunately there's enough trash here for the Deatheaters to continue contigency war plans
Lose 500k full time jobs, gain 700k PT jobs
Hey guys look! The economy gained 200k jobs this month! Hooray recovery!
Spiking the ball boss!
Its free!!!, no borders, no questions, free health care, EBT card, housing, clothes,. Notice offered to criminal uneducated illegals only. Notice to citizens you will house and support 2 illegals under penalty of criminal jail time and forfeiture of all assets to LaRoza.
It brings a happy tear to my eye knowing we have 209,000 new part time college edumacated burger flippers in the world. Joyous days we live in.
That's what Central Command ordered:
209,000
Next: Stocks and Bonds will move as ordered also.
Kids who play video games at NSA will make sure order is catered precisely as central command desires it
At least they qualify for Obamacare, an Obamaphone,an Obamamortgage, and Obamasnap.
209....drop the zero....9-2=7...well at least Lagauard seems to have ben on to something! :-)
Number 7......now serving number 7.
If you're going to do an occult ritual........make sure something happens man!
If you have too.....fake it! Otherwise people are going to be wondering what the hell that crazy crap was all about.
Look how well the Central Command is doing! Look back at the peak years during Bush II and you see plus 350k months followed by plus 170k months....
But not this group. Forward and upward!
Seriously, where is the normal variability we have had every year since the 1980's? These numbers look more manufactured every month.
Random number generation between a narrowly defined limits.
Yes.....but where's the beef?
Dead as Clara Peller Cog....
And speaking of her....
https://www.youtube.com/watch?v=U80ebi4AKgs
Is that Yellen Gellin' in front?
Beef? Beef is yesterday's menu. Now we're serving the new beef. Complete with ammonia, sawdust, and various other unknowns. Try it, you'll like it. He likes it....... Hey Mikey.
That's old school. Here's where it's at today.
www.beyondmeat.com
Sure looks good. Gotta get some Kentucky elk burger! The best there is.
Can you say..Soylent...?
LOL
Its to bad that Fast Food shops are not doing to well right now....
Oh, how convenient...
The market's neurosis is increasingly showing. Man the life boats. Central bankers and corporate CEO's first.
note to tyler and zhedge....
every time you run the "deer-in-the-headlights" graphic, the stock market bottoms and a new leg of the bull commences.
it's a more predictable contrarian indicator than prechter over at elliott wave or the fabulous gartman.
BTFD!
Yes, the wealthy are only "job creators" when they actually spend their money. They missed their chance and will have to bailout some bond holders and banks (again).
"Winning"
The wealthy, as it is with those borrowing, only spend or borrow when there is an opportunity to earn income that exceeds risk. Does anyone here see income potential outside of the casino?
As a small businessman, I am not rich, but I do have savings and you can bet I have been setting on them and spending sparingly. But I did just spent 40K yesterday (and subsequently killed the market) on more equipment (capex) after much soul searching. its just plain scarey to let go of much in these markets, unless its not your money or you just don't give a fuck.
You can't blame the fisherman for leaving his boat in dock, if there are no fish biting. Yes it is a self fulfilling circle of doom. Government is not going to create jobs or stimulate the economy with dumping cash on it, as it will only grow more corruption. There is only one thing that can save us, outside of simply not spending what we don't have, and that is an actual hope in the future, the one thing that our government has done everything in their power to kill (hope and change not withstanding). This confidence is not going to come principally from words but from actions, and every action they have taken has only demonstrated the futility in actual productive behavior. When people can actually see and experience reward in work, in doing a good job, in making something, rather than placing a bet or buying crony influence or just simply demanding and taking what is not yours, we might have a chance...maybe.
oldwood, some of the best you have posted on ZH, thanks
McDonald's meat contamination scare caused them to slow burger flipper hiring this month. Equities are invited to a short squeeze pump fest hosted by Kev' and his seraglio of NYU trainees. They are not going home for the weekend until they make a few bear assholes bloody.
This flood of f-ing illegals should really help unemployment. sarc
McDonald's meat contamination scare
Watch it.....the last time I brought up McDonald's I caught all kinds of hell for that.
Place your bets. Think I'll add to my ASM position today, as it's been good to me so far this year. The Fed is going to crash stocks and blame politicians in my book.
It was a given that futures would come off their lows. that said, I wouldn't be surprised if we went either up or down today.
Amazing watching the breathless CNBC discussion about the end of the world with one down day.
This problem definitely has "QE" written all over it. Or should I say underwritten?
"These plunderers of the world [the Romans -- subtitute Americans now], after exhausting the land by their devastations, are rifling the ocean: stimulated by avarice, if their enemy be rich; by ambition, if poor; unsatiated by the East and by the West: the only people who behold wealth and indigence with equal avidity. To ravage, to slaughter, to usurp under false titles, they call empire; and where they make a desert, they call it peace." - Calgacus, a contemporary of the Roman historian Tacitus.
Janet will be getting to work on that NFP disappointment by raising QE levels at Jackson Hole.
Futures are up on this bullshit!! These numbers just validate that 4% GDP is impossible. We are fucked!!
@Risky Bidness
Yeah, but QE4/QE4eva will save stawkz!
June'14 was cycle peak for payrolls, it's all downhill from there...
If today's market desperately needed some bad news, it got it moments ago...
In order words, Bullish!
gas and oil both dropped.... wtf?
And now back to our regularly scheduled MARKET MANIPULATION......
h/t to Kevin Henry et. al.
summertime..... and the livin is easy..... (in the hamptons)....
and the cease fire In Gaza lasted just a few hours....and we still have the Ukraine...BSE ....Argentina default..or is it....Ebola baby...life is good...
What happened to all those wealthy "job creators"?!?!?
/s
They're in hiding from the coming ebola zombie apocolypse.
Goldilocks economy, Goldilocks market: We’re not quite out of the woods, but the bears have removed their sheep costumes.
The battle to control computers where money is created continues unabatted.
Bank Lobby accepts no new members, no new oligarchs.
Bullets through heads will fly soon, very unfortunately.
Those who control those computers are the ones who control the country.
Watch out for bullets and dead executives on streets, very unfortunaly, if bank lobby doesn't surrender or share power with other oligarchs who are not members of the 'money printing club'.
That is my prediction
You remain an optimist I see. They will fill the FEMA camps first. That is my prediction.
That assumes that elite is unified and monolithic.
That occurs only when winning portion of oligarchs has eliminated all other competing oligarchs financially or physically.
That has to happen first.
ekm if I was an oligarch and you were an oligarch and we for some reason had a difference of opinion I would buy you a yach filled with some hookers and I am pretty sure we could come to some agreement that manages to keep us both filthy rich and happy. If it means a bunch of minions somewhere else has to suffer, so be it.
Something tells me they will work things out amicably between themselves.
Yeaaa. But oligarchs view is worldwide view.
Putin, Jinping and Khamenei are disagreeing.
Don't discount the possibility of russians or even saudis sending professional killers to USA to eliminate few stubborn heads
I'd lay odds they're here already and waiting assignment instructions.
What's really amazing is the way when weakness is spotted in a BLS jobs report - ie, labor force participation - it magically starts going in the other direction.
I use traffic around major metro centers at 1pm on a weekday as my jobs market indicator. Too much traffic out there in the middle of the day to believe these reports, unless, everyone is now a fashion blogger working from their car.
"I use traffic around major metro centers at 1pm on a weekday as my jobs market indicator. "
Just heading to the other part time job.
It coudla been worse....at least most of the 10,000 high paying techies who have been involuntarily retired probably became baristas - or self employedd app writers.
No offence to baristas or app writers.
so let me fucking get this straight.
this morning, i wake up at around 5:55 am eastern, and i see dow futures r down 115, s&p down 13, and im thinking, hey maybe, just maybe, we will see another 1 and a half percent down day.
then we get as shitty of a jobs report as we can get, fucking 90,000 less jobs than last month ( if u fucking believe these bullshit numbers to begin with) and what does this fucking market do? it fucking wipes away all fucking losses on the futures just like that.
209,000 jobs is horrendous,its very scary times we live in how this is considered a decent number by most fucking douchebags in msm.
if this is considered fucking good, i do not want to know what bad looks like.
Bad news is good news.
Bad job numbers mean that the Fed will keep pushing the QE heroin: Bullish.
Good numbers would have implied that rates will rise sooner than later: Bearish.
market's probably decided it's already priced-in for negative numbers. seeing anything above 0 is better than expectations.
You're waking up too early. I can't experience the first bi-polar swing until maybe 8:30AM ET - after my drugs have kicked in.
Don't worry, Steve LIESman will explain it so all the people less smarter than he is will understand it. Steve, you're my hero!
Employment costs surge ... yesterday:
http://www.zerohedge.com/news/2014-07-31/risk-employment-costs-surge-whe...
... but job growth is down.
If there is a catch 22, then this is at least a catch "66".
I guess supply and demand mean nothing. Thank you MS. FED and O'bummer.
Under the continued framework that The Nikei will lead equities lower as per the 2007 crash Kong has it that USD has topped out here as of this morning ( prior to U.S data ) and that The Nikkei has now made a "Pin bar" on the weekly suggesting it's the top of "wave 2" before heading decidely lower.
More detail and expansion on how Japan and USD/JPY is essentially all anyone needs to be following to get an idea of where we go next:
http://forexkong.com/2014/08/01/usd-topping-out-nikkei-weekly-pin-bar/
The term "the new normal" has not been used much as of late, but going forward it may be about to return. Many investors and the public at large may be about to realize that central banks can only do so much through printing money and lowering interest rates. Both these actions carry with them some very strong and nasty side effects.
Markets have become very distorted as money has flowed into risky assets in search of higher yields. It could be we are about to see the markets morph into a "realizing market", one that grinds slowly downward. Another possibility is that at some point the wisdom of buying every pullback changes and the market simply drops like a stone. More on what the future might hold in the article below.
http://brucewilds.blogspot.com/2013/06/realistic-expectations-for-econom...
Wall St needs MOAR LAYOFFS!!!!11111
CNBC is like that reality TV show "Jackass" except without a midget.
http://www.zerohedge.com/sites/default/files/images/CNBC%20WEB%20PAGE.jpg
It's still funny!
Just because CNBC and all the financial talking heads have decreed bad news = good news based on the employment data and the reaction of the futures market, don't be surprised if shitty news = shitty day on the market. I personally think they are a little too smug about the comeback this AM...bad news is bad news lately I think.
US economy adds 209,000 jobs in July
The US economy added 209,000 jobs in July adding to optimism that the US economy is roaring once more.
At least the BBC is fair, balanced and impartial.
ROARING! Time to buy stawks
Quicker, more illegals and H1bs, that will fix the problem.
- Obama, the Senate and Congress.
SO guy A loses his $60k a year job and is forced to take two part time jobs which together make him $30k. To the statistician, this is two jobs created.
If 30 million people lose their jobs and have to take multiple part time jobs, you can have greater than 60 million new jobs show up in the numbers. While great for showing job growth, the real story is one not to write home about. Someone getting a new job after losing one is not increasing employment, just replacing it.
The labor numbers are complete bullshit, even running with the BS figure total jobs may have hit a record number, that doesn't mean there are 139 million actual people holding them. The labor force participation rate does not point to any employment gains. It is impossible for more people to be employed if the percentage of people with a job goes down.
The simplicity of the real statistics has to be masked with layer after layer of absolute BS so that nobody can tell what is really going on. For if the truth was really known it would be pretty hard to justify gains in stocks.
brilliant
Something close to that is what has happened to me starting about 7 years ago or so. But the real beginning was 9-11. It has been rocky since then even though we were blessed with some really good financial years. Bottom line is though that I came back to the Lord. Back in a way only adversity could make me come back: on my knees with tears in my eyes and complete collapse of confidence in 'the game.' It was my epiphany. Miraculous things began to happen for us, quickly, at that time. And have continued to this day. I tell you, my friends, if we want to avert WW III, if we want to restore our country, if we want peace and prosperity for America, we best be getting on our knees in humble supplication and tell God He comes first. It is the ONLY way this travil will be avoided - the ONLY way. Trust me. I've seen it with my own experience. Do it.
Well, ZH perma-bears, if we have really reached peak everything through mindless Fed money creation, we are about to see some serious downside. The greater fools theory breaks down with loss of HOPE that the Fed will fix it all; the party is over and rearranging the deck chairs won’t help anymore. With their failure to create good jobs after $4.5T in money printing, we slide downhill in every category from here. A housing bust of biblical proportions starting in the SFO area is coming, as tech companies and Silicon Valley end their 40 year run. The next Detroit.
The Fed will desperately try to jawbone the markets higher, but any attempt to reverse policy will show they have failed and most everything now depends 99% on their money creation. More panic stock selling, and we spiral down, this time for good.
Still some "slack" in the job market....slack in the rope maybe.
Keep printing
Slacker market or loafing market?
http://m.youtube.com/watch?v=Q_TGQ7rGL-Q
Steve Liesman looked puzzled
http://video.cnbc.com/gallery/?video=3000297794
They keep doing the same thing and we keep expecting different results
And of course the next article needs to focus on the breakdown of those jobs added.
The propaganda-free chart just updated by Honest Injun John Williams of Shadowstats shows a gradually increasing 23% unemployment rate.
http://www.shadowstats.com/alternate_data
What's this about "wage growth estimates"?
Recovery summer x.0 bitchez.
Unemployment 6.2%? On what planet?
if they would applay the EU methodology for unemployment stat, to evaluate the US, then US would have at least 20%.