The Market Ticker
Commentary on The Capital Markets- Category [Employment]

Oh look, only half the story...

International Business Machines Corp. this week quietly laid off employees, continuing a wave of job cuts the company announced in April.

IBM declined to say how many jobs would be cut overall. The total layoffs could affect more than 14,000 jobs, according to an estimate by Stanford Bernstein analyst Toni Sacconaghi.

Ok, and bad enough, except for one tiny little problem.

How many H1b positions is IBM attempting to fill with foreigners at the same time they're laying off Americans?

Answer: From 2013 to 2015 the total was 27,398, #3 in the United States for said sponsors, and the rate of same has grossly increased in 2015 to roughly double that of 2014 and 2013.

Yeah.

Where's that part of the story, Marketwatch?

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I have to admit, this is one of the most-interesting employment reports I've seen in a long time.

Total nonfarm payroll employment increased by 160,000 in April, and the unemployment rate was unchanged at 5.0 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, health care, and financial activities. Job losses continued in mining.

Oh really?

Well then, I have some news for you, because the unadjusted household numbers say something entirely different.

According to the unadjusted household numbers we added 337,000 jobs last month, not 160,000.  That's 2.4 million over a year ago.  Unfortunately, that leaves us with a deficit of about 215,000 ex-population growth over the same year period.

However, the employment:population ratio ticked up one tenth to 59.7% last month as well.

So what's with the dour report?  Is this nothing more than trying to toss a 2x6 on top of Yellen's head and hammer it down so she doesn't raise rates?

Maybe.

In addition the average workweek rose by a tenth to 34.5 hours.

Me thinks there's some political game-playing involved here -- after, as was famously said, "nobody committed any crimes" -- including falsifying data.... right?

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