unemployment up to 9.9%

[husker]

i am sure dems talking points all ready.


we already know about everything being bush's fault.

[Spark]

Stop calling out other members ...

[BigWeiner]

I hate to poop on your parade of misery, but this is actually a sign the economy is bouncing back.

[Watchtower76]

I hate to poop on your parade of misery, but this is actually a sign the economy is bouncing back.

seriously?

Fake +290K Payrolls "Added", Real Number Is 36K After Census And Birth-Death, Unemployment Goes Back To 9.9%, Underemployment At 17.1%

290K of which census was 66k and Birth Death was 188k. Hurray -the economy added a real 36k in jobs in April. Still, we are curious how the Chairman will not be forced to discuss tightening after this B/D adjustment inspired number (188K in April B/D, 81K in March). And in the meantime, headlines will read Unemployment back to 9.9%, and Underemployment back to 17.1%. Record jittery market bounces than calms down again.

There are still over 15 million unemployed people in the US, so even if the economy adds jobs at the rate of 300,00 a month, unemployment will remain above standard “recovery levels” well into 2014. The number of long-term unemployed move up (27 weeks or more) to 6.7 million. This will almost certainly mean that Congress will have to extend tens of millions for un-budgeted dollars for unemployment insurance.

The number of people marginally attached to the work force rose to 2.4 million from 2.1 million in March, showing the level of capitulation of the those unemployed for over a year. However, 195,000 people were added to the pool through “reentry”. That is a process of people’s unemployment running out in many cases. And, it means that the work force will have to absorb an additional 105,000 people according to the April snapshot.

Fake +290K Payrolls "Added", Real Number Is 36K After Census And Birth-Death, Unemployment Goes Back To 9.9%, Underemployment At 17.1% | zero hedge

[grandmama]

The fact of the matter is that a lot more people will not be able to find jobs for a long time. Wages in this country have been stagnant since the 70's, yet overall worker production has shot up like never before. instead of paying workers more, huge corps started to offer their workers credit: see Gmac (GM is a better bank than they are at making cars.) So, we have wages going down or staying the same, overall produciton goes up, yet workers don't get paid more, so they seek anohter alternative which is credit: see the housing bubble. IMO, we are not in a finacial crisis, we are in a capitialism crisis- the whole model is wrong and it needs to be tweaked. We don't produce anything in this country anymore because huge corps know that they can pay people $1 a day in 3rd world countries. I beleive in the free market, but I also believe that externalities should be included in the cost of things we buy. For instance, there was a study done a few years ago that stated the cost of a gallon of oil should be around 15 bucks a gallon because of all the money ivested in protecting the oil in the middle east, shipping, and overall cost of produciton that it takes to get the oil out of the ground. Until people understand that externalities should be included in the cost of everything we buy, the market will not work right. I believe in the free market, but the market isn't really that free if the total cost of things are not included in the final price. We should have been off the oil tit 30 years ago, now people living on the Gulf Coast are going to have to suffer the consequences.

[BettorsChat]

What's going on in the Gulf Coast is going to cost a lot of people jobs. Not to mention the impact on the environment.

[vitterd]

i am sure dems talking points all ready.


we already know about everything being bush's fault.

So everytime your vague statements are proven junk it is called talking points? Hannity and the fox boys foaming at the mouth. Headline on his show tonite will read" unemployment up to 9.9 percent. I'm sure these facts will never be mentioned.

231,000 more private sector jobs added

44,000 maufacturing jobs

14,000 contruction jobs

Jobs added to the economy at faster clip then anytime in past 4 years. U will never hear it from fox or husker. U will never hear that many economists say that more people are seeking jobs is the reason for the spike.

Gotta love the stimulus. Working slow but steady.

Disprove and u get called for talking points. Some confuse talking points and facts

[Jamaicanman]

What's going on in the Gulf Coast is going to cost a lot of people jobs. Not to mention the impact on the environment.

And b/c of the environmental impact, those jobs will be toast for a LONG while. Tourism included. And wait until the cost of seafood hits.

[grandmama]

What's going on in the Gulf Coast is going to cost a lot of people jobs. Not to mention the impact on the environment.

those are the result of what econs call negative externalities. I think all those people that were chanting 'drill baby drill' should have to help with the cleanup on the coast.

[bwade210]

Change! Most people could not write out a billion dollars on a piece of a paper. Our government is burning the furniture to warm the house right now.

[grandmama]

Change! Most people could not write out a billion dollars on a piece of a paper. Our government is burning the furniture to warm the house right now.

do you even know what you're talking about? it sounds like you heard somebody say a one liner that you liked a lot, and you couldn't wait to use it. I think you should have saved that bullet and waited till it would be somewhat relevant to the topic at hand. nice try though.

[bwade210]

I sure do. Im saying what your clearly not smart enough to understand so I will say it like this. Obama promised change, and change is what we are getting. More debt, higher unemployment rates, and more tax payer responsibility. Change.

[Watchtower76]

do you even know what you're talking about? it sounds like you heard somebody say a one liner that you liked a lot, and you couldn't wait to use it. I think you should have saved that bullet and waited till it would be somewhat relevant to the topic at hand. nice try though.

Here u go grandmama, maybe we can dig into it a bit more, this admin is blowing threw money left and right and it's all going to waste...

A few days ago we reported, quite stunned, that the US Treasury had redeemed nearly $600 billion in Bills in the month of April. Alas, the side-effects of an massively short-maturity heavy bond curve will be here to haunts us for a long time: according to today's DTS, in the first 4 business days of May alone, the UST has redeemed $144 billion in Bills. Annualized this number is surely something that even Richard Feynman would not joke about. We have gotten to the point where the roll issue is not a monthly concern, but is becoming a weekly funding threat, and even daily. Of course, as we speculated in December, what better way to raise demand for Treasuries than to stage an equity selloff. Well, we got our selloff, and the 10 Year was trading in the lower 3% range today. However, the risk now is how the sovereign fire will spread through the periphery and into the core. Already, we are seeing that CDS traders are massively betting on a collapse of the UK as the next bastion of sovereign spending lunacy. And when the UK goes, Germany is next, shortly to be followed by Japan and the US. At that point the only buyer of US debt will be the US itself. Which will lead to the final outcome of massive consumer deflation as economic collapse finally strikes home, coupled with asset price hyperinflation, as a gallon of oil hits $10 (and helping the Dow hit 36,000). And as this is not an equilibrium state, the outcome will be, as it always is in these situations, war. Hopefully the US is good as it historically has been at finding its "deserving" opponent, WMDs aside. Otherwise, things may be a little rough for the great declining American civilization after the next 5 years.

[Watchtower76]

And this is the game everyone is playing and once i again i ask myself why? This market/govt is a joke and will put us in the same boat japans been in for the last 20 years.

Dylan Ratigan's explanation of the Thur. crash is spot on, but we'll go our marry own way (the avg. joe) and get brainwashed by CNBC/SEC/GOVT saying it was a fat finger...

It's a must watch

Dylan Ratigan's Explanation For The Crash | zero hedge

[musclemann]

I sure do. Im saying what your clearly not smart enough to understand so I will say it like this. Obama promised change, and change is what we are getting. More debt, higher unemployment rates, and more tax payer responsibility. Change.

youre right we never spent 2-3 trillion dollars in iraq or afghanistan during gwb 2 terms. He didnt turn a budget surplus he inherited from bill clinton into an alltime defecit and the unemployment or gas prices were not headed to recent higs during his term. None of that happened under gwb.

Clearly grandma isnt smart enough to realize those things,
Im not either.


I like the fact you use(his middle name) hussein in his name though, thats really cool and its ironic tea baggers use the same when saying obama's name.