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(The Year 2012 In Review)
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|User Info||Jobs Report: The Big Suck; entered at 2012-05-04 09:38:41|
ZeroHedge pees in the CNBS punchbowl:|
The Addbacks: +22K From Seasonal; +206K From Birth Death
The seasonally adjusted non-farm payroll number rose by 115K in April. That's great: it was a miss but such is life. Here is what the unadjusted data that led to this number says. The seasonal addback in April was +22K, a rapid break from the last 3 years when April saw a negative seasonal adjustment following the traditional huge positive adjustments in the January-March period, which in turn means that the record warm winter give back has not even started! As a result, the seasonal addbacks in 2012 are now a massive 4,499,000 jobs: jobs that have not been added but are expected to materialize based on historical seasonal patterns. And just as importantly, in April the Birth-Death addition was a whopping 206K, far greater than the comparable addition in 2010 and 2011, and much bigger than expected, which brings the year total now to a +20K cumulative total. It means, that by rough estimation, the reality is that in April the unadjusted, unbirth/deathed number was a decline of -111,000, and likely far worse once the true weather adjustments start taking place. This number is corroborated by the Household Survey which dropped by 169,000. So much for the recovery...
more @ http://www.zerohedge.com/news/addbacks-2....
Genesis pees in ZeroHedge's punchbowl:
Zerohedge is again a zero.
FauxNews says mean **** about "Henry V" Obama:
Sickly Job Growth Sets Up Unhappy Choice for Obama
...The more important number, the size of the potential labor force that is not employed, remained at a crushing 14.5 percent. Economists are alarmed not only at the puny jobs number in April but at the fact that the difference between the two figures, 6.4 percent, stands near an all-time high.
Read more: http://www.foxnews.com/politics/2012/05/....
Last modified: 2012-05-04 09:49:05 by uppity_peasant