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US Hiring Plummets Most Since June 2010, Fewest Hires Since Polar Vortex Ground Economy To A Halt
On the surface, today's JOLTS report (which after we caught the BLS fabricating the data aggressively a year ago is triple-scrubbed by government bureaucrats) was great: with total job openings of 4,835K, this was supposedly the highest number of job openings since January 2001, and just shy of the record high 5,273 seen in January of the same year, just before the recession hit to be precise.
There was, however, a big problem. Because while according to the BLS survey employers have almost never had more open positions, they have also decided to put an abrupt stop to hiring, something which certainly points to a major disconnect in the US labor market. In fact, according to the JOLTS report, its far less tracked "Hirings" number plunged from 4,934K to just 4,640K. This was the lowest number of monthly hiring since January's "Polar Vortex" ground the economy to a halt. What's worse, the 294K plunge in monthly hiring was the biggest monthly drop since June 2010, and was the third biggest monthly plunge in hiring since Lehman!
And putting this number in context, because hiring is a leading indicator to key payroll inflection point, one wonders: with TTM job gains having plateaued at 2.6 millio and hires tumbling, is this about to ripple through the labor force and result in a major drop in the October payrolls?
For the answer: check back in just under a month.
Source: JOLTS, St Louis Fed
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So, it's not the weather?
I am confused.
it IS the weather. September was abnormally normal, which the economists did not predict.
Bill Clinton says the economy is coming back but nobody believes it. Thanks Bill.
http://www.realclearpolitics.com/video/2014/10/06/clinton_nobody_believe...
It's been a long time since anyone believed him.
Monica still can't wash the taste outta her mouth.
pods
well bill clinton says"... look the economy is doing better, it's just as I said years ago, it will take 10 years (of current policy to get it going again)before people feel it is better"..
the great 10 leap give us moar please moar.
Bill Clinton says the economy is good? I thought he was just crying about being so broke...what did he do, get a Dominoes pizza delivery job?
I am curious if the BLS mafia keeps two sets of accounting books- or is it too bothersome to figure out the real numbers...
BLS MATH:
If I have 1 million employees and I fire 1 million employees how many employees do I have-
Well, after they do the hokey pokey and go through the electro magnetic discombobulator field and sign form 10.438 while the curvature of the Earth becomes one with an elephant tusk-
3,000 jobs lost.
THANK YOU. THANK YOU. Geithner helped me just a little...
Get set to pay more taxes because of the damage done by the extreme cold of the Polar Vortex.
Then get set to pay even more taxes to combat Global Warming.
If this sounds like a bunch of God damned bullshit, just ask a liberal to explain it.
It gets hot and cold, so obviously the gubmint needs moar moneys.
I read that as "needs moar monkeys," and it still made sense.
double, my bad
If you are a liberal or conservative working person just get use to the fact that you are going to pay more and receive less regardless of which faux political party is in office.
It's quite simple actually. The corproate cartels own the politicians. THreats to offshore more jobs, more tax money kept offshore, move their Patriotic American asses to another country and cut off campaign contributions that allow the politicians to engage in, what should be illegal, campaign lies/propaganda that the dumbed down American swallows hook line and sinker shall insure a continued rise in the sales of KY and tissues in which to cry in.
OF course corporations can always claim they are doing their civic duty by posting step by step instructions on their employee websites on how their workers can get benefits from the government since it's not a plantation owners responsibility to treat their workers like humans.
Would have thought one or two on here had read Adam Smith. My Bad.
Repeat after me R E C E S S I O N.
D E P R E S S I O N
Depression with 5.9% UE headed for 3% so Obama with a Republican full line up can claim he is fucking his constituency for their own benefit
it is going to be MH17 for the Middle Class - shoot them out of the sky and blame the Russians / Republicans...anyone but ObamaNation!
Great Depression
Pull the EBT and other thieving government grafts, and it is MUCH worse than Roosevelt's "Great Depression".
Well, we already have Europe and Japan in recession. Let's have a nice global recession within this FUCKING DEPRESSION.
Throw in the coming collapse caused by Ebola. This should be fun.
Well, it is Halloween season in the U.S., so...
Pelosi's face darting out from a closet! BOO!!!
I hate that bitch... Instead of Clown phobia... I have Pelosi phobia... Bitch just gives me the hebbi jeebbies
What about a two headed ghoul with both the face of Pelosi and Hitllery. They both have snukes up their snizz. Your nightmare got exponentially worse.
Medusa would turn to stone from that sight
Someday, her face falls
Talk about the definition of vain sociopath
She has not been heard of since she did that ice-bucket challenge.
pods
She asked an epidemiologist @ CDC & Tom Freiden to get her a hot bowl of Ebola Vomit so that she could ingest it in order to find out what's in it.
Nahhh..
She's shacking up with Kim Jong Un
Botox
Maybe she forgot that if water got onto her she'd melt?
The silicone bits and pieces of her body froze and broke off. They're getting reinstalled now and we'll have a new and improved Nancy in no time. In other news, horse-face Kerry is getting another nose job and will blame the black eyes on a kiteboarding incident involving a snowy owl and an evil wind energy turbine in Nantucket sound.
Divergence bitchez...
Whats with the disconnect....massive disconnect from NFP and from openings. I think they need to go back and figure out wtf happened because the data is way the fuck off somewhere. A real statistician should be wondering WTF.
A "real statistician" would never be hired by this administration as it is filled with nothing but snake-oil salesmen. If you want numbers that are way closer to reality, check out John William's shadowstats.com.
Hope and Farce. Forward!
Confidence in Obama on economy sinks to new low
Steve Liesman |
10 Hours Ago
This is not a joke. CnBSc even forced Obama & Statist fudgepacker, Steve Liesman, to detail Obama's ghastly ratings when it comes to Americans' (complete lack of) confidence in ObamaNomics:
(via Daily Job Cuts http://www.dailyjobcuts.com/ )
http://www.cnbc.com/id/102063107
"Most paranoid President in history."
Still no charges of a "Vast Right Wing Conspriracy" yet though.
And this from Clinton:
Oh, you mean the one you spurred on Bill by killing Glass-Stegall? Or cutting welfare? Or beefing up the IRS shakedown state?
These liars are running out of shit to say. 10 years, huh? Tell that to the people of Japan, who have been in a depression for 20+ years. At least they have some decency in their population; can't say the same for mine.
Now Wallmart just said it was cutting health benefits for part timers....thank you Obamacare....
I am Obamanus Maximus Incompetus; commander of despotic armies of the west, General of community organizers, loyal servant to a failed doctrine, Marxism. Father of a murdered constitution, husband of a murdered economy. And for all those who snark at my dopey beliefs I shall have my vengeance, in this term, or when I return to the community.
Dont give Hollywood any ideas lol.
"I am Obamanus Maximus Incompetus; commander of despotic armies of the west, General of community organizers, loyal servant to a failed doctrine, Marxism. Father of a murdered constitution, husband of a murdered economy."
Look on my works ye mighty and despair.
Please read Marx before you compare this rotting system to marxism. Like Dali once said: Capitalismo es Putrefafacto.
Of course, but as you know, everything can be bastardized. In fact, it is human nature to do so; at least for the socio- and psycho-paths among us.
Labour force on sidelines trying to climb a wall of worry.
good job barry - useless shit
Shhhhh....... don't tell Steve Liarman. He''ll get his panties all bunched up trying to tell you how you're wrong.
get ready for the V rocket reversal....
its - a comin....
...Thar she blows!
Up up and away! My beautiful balloon!
What it is is that many of our FSA is to dumb to have a job....they are just stupid...cant read or write...wont show up for work....cant learn anything.. cant speak with full sentences....just dumb....sorry but that is the fact...
So what are you saying, exactly?
I wish you would use complete sentences.
Barf, puke, vomit, "selling buicks", you get the idea...
It seems anecdotally that most of these jobs that are open are low wage, and with the subsidies and entitlement offered by government remain unfilled. A close friend is manager of a chain of grocery stores and tells me he has more opening now than in his 30 years. People won't take the jobs and are very honest about their alternatives. It doesn't pay to have a job. There is plenty of laziness, apathy, ignorance and stupidity out there, but it doesn't take a genius to figure out it is a better deal not to work. The minimum wage laws are a farce, irrelevant. Minimum wages are set through entitlements. Does it pay more to stay at home versus a job? Set up perverse incentives and get perverse results. This is the true rot in society. Debt is bad but mainly it is bad because we are unwilling or unable to pay it back.
I didn't want to get a job to feed my family because it was simply too cold out.
Because Ebola.
Just remember NFP is a seasonally adjusted survey. "Survey says" its all mumbo jumbo.
September/October 2012. Before the elections...
Hey all you fuckers that voted for Obama, do you own up to your mistake? Bush was a fucking economic wizard compared to this asswipe. And no, economics is not that complicated. Obama is just fucking stupid.
Would you rather have President McCain? President Romney?
You could blame someone for voting for the clap unless the clap was running against cancer.
I think he is pretty smart, he is doing what he wants to do to accomplish his goal. Wreck the system so a "new" one can be built. Treason comes to mind.
Keep in mind the equation that runs world trade:
PROFIT = REVENUE - COST
This equation rules.
PROFIT rules
Minus Ebola and Outbreak and Haley/Bop and those folks who all sacked themselves in South America...oh, yeah! Gognitive Diffidence!
Phuck us all!
'The Polar Vortex ground the economy to a halt'....oh for fucks sakes.
Why not?!
Next's retail sales suffered due to unusually warm weather, people actually stopped wearing clothes.
In fact, according to the JOLTS report, its far less tracked "Hirings" number plunged....
Lol! The far less tracked.
YELLEGEDDON!
How about the BLS breakdown the number on these job openings by wage. Then the "jobs recovery" will be exposed for what it truly is.
Ebola=black swan
The ATMs took our jobs!
http://online.wsj.com/news/articles/SB10001424052702304070104576399704275939640
"What's worse, the 294K plunge in monthly hiring was the biggest monthly drop since June 2010, and was the third biggest monthly plunge in hiring since Lehman!"
Won't hear that on the local news today.
Where's the ROFLMAO smiley?!?
This is what 52% of the electorate voted for. Your fellow Americans are the enemy. Their ignorance and malice is costing you more and more.
my wife has been seriously looking for a professional job since June in financial mgmt in the NYC metro area. she's even willing to go into NYC given there should be more opportunities. when she does find jobs that she's clearly qualified for she gets nothing but rejection letters when they respond at all. i don't know where these jobs are but if my wife who is a professional and is looking in a very densely populated market can't even get an interview something is amiss.
Clearly America needs more regulations, bureaucrats and taxes... Clearly.
Time for the dogeater to deliver a speech about a car in the ditch. The fucker.