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The September Jobs Report Was Even Worse: U.S. States Lost A Total Of 22,000 Jobs
Remember that September jobs report when the US supposedly only added 142,000 jobs, which was so bad it sent stocks soaring the most in years?
As it turns out the sum was far greater than the parts, because according to today's BLS breakdown of jobs by state, not only did more than half, or 28, states lose jobs in September, but the total number of jobs losses, at 120,000, was about 20% more than the cumulative job gains of 99,000.
How that -21,000 total job loss when summing across all states compares to the alleged gain of 143,000 jobs at the consolidated level reported two weeks ago, we'll leave to the reader to decide, suffice to say that any and all data coming out of the BLS and not making sense, has become the norm.
Also not making any sense, is the state with the most purported job gains, because while firing tens of thousands of oil patch workers, Texas mysteriously - according to the BLS - added 26,600 jobs. The gains occurred in a range of industries, including retail, shipping, education, health care, and hotels and restaurants. Or even more low-paying jobs used a "plug" filler by the BLS to offset the real collapse of America's high-paying manufacturing jobs. New York added the second-most, with 12,000, which is also curious considering all banks but Goldman reported they have continued to layoff tens of thousands of workers.
But before you go all in 3x levered ETFs with the certainty that this latest batch of recessionary news sends the S&P500 limit up, there was some good news: As AP observes, on the past 12 months, only four states have lost jobs. All have significant oil drilling operations or coal mining industries. They have taken a hit as prices for oil and coal have deteriorated.
West Virginia has lost 11,400 jobs in the past year, the most of any state. It also has the nation's highest unemployment rate, at 7.3 percent. North Dakota has shed 7,300 in the past year, yet it still boasts the lowest unemployment rate, at 2.8 percent. Alaska and Wyoming reported small jobs losses in the past 12 months.
One may therefore want to wait before every trace of good news is gone from the US economy, and a depression is assured before front-running the Fed's upcoming monetary paradrop.
Source: BLS
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Is that true, Daddy?
I can taste the copper, Malus.
WTI 20s on deck.
RIPS
Why is New York in 2nd place??? Im from Texas and it is filled with New Yorkers here in Dallas - all over the place!
They just started counting pan-handling and selling loosies as "jobs" because they just found out that those people actually work harder than most public sector workers.
"Public sector workers"
You need to use quotes when using that phrase, man. It just doesn't make sense otherwise.
Oh and they also realized panhandling and selling loosies is essentially the same as working in "finance" as well.
It will all get better when 5 million immigrants arrive.
I do not understand why people who live in the United States, have to work? US could simply print dollars and give them to all comers. In the United States should work only goverment and civil servants.
But it's not a problem. The job of goverment and civil servants in the United States, can make successfully via any migrant workers - like Brzezinski and Obama.
I just got back rom Austin and the word was that it was Calis moving in - and it looks like it. I heard 150 moving in per day.
They must be moving there for the abundant water resources.
Austin turned into a LA/Katrina cesspool about 10 years ago. Add 15,000 Katrinas to the Cali mix there and you can't even walk the streets there at night without being beaten or knockout punched. Only out-of-towners go there now since they are not told of the dnagers. Very few if any locals go downtown anymore.
I used to go down to 6th street when I visited but it is not recommended now by my family. I just went down to see the bats this time. More Austins waiting around than bats. But unfortunately Austin still knows how to do food.
AUSTIN is NOT PART OF TEXAS. - Signed a real Texan. No locals go there, most dispise it
https://youtu.be/enkwaH-CrUQ?t=1m1s
And yeah, I like eating excrement, not getting paid for it
Play the guilt, play the fear & play the anxiety
And yeah, I like working doing nothing, not making anything
Blame the poor, blame the uneducated & blame the sick
nirp is nigh, moar qe is nigh.
Better high than nigh. Good bye.
How many lies does the US BLS manufacture a week?
If not for fraudulent economic statistics, there would be no statistics in the land of the free.
Forward
David Stockman looks at 5.5% unemployment:
At the present time, there are 210 million adult Americans between the ages of 16 and 68—to take a plausible measure of the potential work force. That amounts to 420 billion potential labor hours, if we accept the convention that all adults are at least theoretically capable of holding a full-time job (2,000 hours/year) and pulling their share of society’s need for production and work effort.
By contrast, during 2014 only 240 billion hours were actually supplied to the US economy, according to the BLS estimates. Technically, therefore, there were 180 billion unemployed labor hours, meaning that the real unemployment rate was 42.9%, not 5.5%!
Yes, we have to allow for non-working wives, students, the disabled, early retirees and coupon clippers. We also have drifters, grifters, welfare cheats, bums and people between jobs, enrolled in training programs, on sabbaticals and much else.
http://davidstockmanscontracorner.com/the-warren-buffett-economy-why-its...
Inflation in the land of the free is not so phantom though - Chapwood Index shows real inflation in US. In 2014, it was 9.7% - 1212% of official US inflation (0.8%)
http://www.chapwoodindex.com/
Seems like the only unbiased stuff anymore are Amos & Andy re-runs.
They knew what the real numbers were.
Chipotle just missed. Follows IBM, Mickey D's, Walmart, etc...
Shit nigga, when do we get the Doom Ball rolling again?
Ypu can go ahead & add that to the other 98 Million plus unemployed American People with another 49 Million on food stamps.
Forward towards Collapse & complete bedlam.
Well, that has to be bullish for vans down by the river, cardboard boxes, holes in the ground, trash bags, and shopping carts.
Do we all get new flags with an extra star? How long have we been counting Puerto Rico as a state?
"But before you go all in 3x levered ETFs with the certainty that this latest batch of recessionary news sends the S&P500 limit up, there was some good news:"
Drat. Always with the freaking good news wrecking everything.
Yeah right, New York gained jobs? I don't believe the good BLS data anymore than I believe the bad
the chart is just a chart of the 1%...the more rich people the better they did. The Obama rule...the rich get more!
the chart is just a chart of the 1%...the more rich people the better they did. The Obama rule...the rich get more!
They are counting the newly enrolled on welfare in the employed category because welfare works for America! Ooops, I think I just gave Bernie Sanders a new campaign slogan.
Add this to the coming perfect storm mix .. Total western financial collapse in 3, 2, 1 .........
I was thinking maybe D.C. added 164,000 jobs, but I see they're already accounted for in the chart.
Hmm. Guess that means the only other explanation is the usual one.....BLS lied.
This should help.... (Sarc)
":China Calls for New Global Reserve Currency to Replace Dollar"
http://abcnews.go.com/Business/story?id=7168919&page=1
Jesus christ. "Long Ammo, Short paper"
When what should otherwise be a 'boring' set of reliable statistics - from an organization where no finagling of the numbers is necessary, nor should have any reason to even be thought of, what has a nation become? And where is it headed...?
BULLISH BITCHEZ!!!
Come on, you know you're long too murrafukas!
The current job ads -- if they're even real -- contain a veritable laundry list of required skills and degrees for even the most meager jobs.
Reading the ads is a soul-crushing experience. The salaries -- if they're even listed -- are shockingly low for even the
highest-skilled positions. The ads also list a set of requirements that the employers say that applicants "MUST" possess.
Invariably, the job ads stress the fact that applicants "MUST" also have experience in that exact industry, even if it's extremely obscure.
To say that employers are a bit over-exacting in what they require of applicants is an understatement. I'm inclined to believe that these companies are wording their job ads in such a way as to purposely disqualify Americans so foreigners can be brought in on H-1B visas.
I don't know about you, but I think it's about time we start forming thug-armies ... and seek vengeance ... and shit.
Shouldn't we shit first?
No. We must seek it.
Ah. Formed but not found. This was why I suggested we shit first.
I lost one of my four. Now I get six hours sleep instead of four. Woo-Hoo. USA...USA...USA...
Heck if the MSM would take the REAL STATS over at BLS the unemployment rate is more like 22 or so percent. That would clear up all the CONFUSION right away lol
http://www.shadowstats.com/charts/employment job stats
Oh, Mr Yellen, Have we reached full employment yet?
How is Texas adding so many jobs with all the lay offs on the Oil/Gas industry, especially in Houston? Anyone?
Step 1: Open up a spreadsheet on your computer.
Step 2: In Cell A1 type the letters T-E-X-A-S.
Step 3: In Cell B1 type the numbers 2-6-0-0-0.
You too could work for the BLS. Take the rest of the month off. Next month we'll give Cali the most jobs.
If the jobs situation is so bad, how come social security and medicare payroll deductions are up 5.5% YoY. Did everyone making under $117k get a 5.5% raise?
The funny thing is like China, the USSA can say the economy is growing at 4% and adding heaps of jobs blah blah blah but company earnings (which can't be doctored) paint a very different picture.
Excellent post. I had a couple of ideas that might explain the difference, but when I checked the states chart against the BLS announcement, none of the ideas explained the difference. My only remaining idea is that the headline number counts the self-employed, but the states chart might not. Other than that, I got nothing.
Where those Russian haters crowds that always cry baby, russian will collasped economically?
SEE HOW FUCKED UP YOUR COUNTRY REALLY IS??