Obama Is Risen! And He's Not A Mormon! (Jobs Report Bottom Lines(?)!)

[mascale]

So the economic pundits, gurus, and Big Boards investors are taking a pause. . .presumably refreshed. Is 8.1% an improvement, or what-not(?)!

Way down at the bottom of the May 4 report, at the bottom, are some lines(?):

"The average workweek for all employees on private nonfarm payrolls was unchanged
at 34.5 hours in April. The manufacturing workweek edged up by 0.1 hour to
40.8 hours, and factory overtime rose by 0.1 hour to 3.4 hours. The average
workweek for production and nonsupervisory employees on private nonfarm payrolls
was unchanged at 33.8 hours."

"In April, average hourly earnings for all employees on private nonfarm payrolls
rose by 1 cent to $23.38. Over the past 12 months, average hourly earnings have
increased by 1.8 percent. In April, average hourly earnings of private-sector
production and nonsupervisory employees rose by 3 cents to $19.72."

"The change in total nonfarm payroll employment for February was revised from
+240,000 to +259,000, and the change for March was revised from +120,000 to
+154,000."

Easter comes, but once per year, and you'd better watch out if it's also PassOver, The holidays are major time off for many! Don't You Realize: Easter can be. . . .such a. . . . major-time-off, Break!

There is nothing in the bottom lines that suggests an economy slowing, or heading into a ditch. Those are not Census jobs being counted. 3.4 hours of factory overtime is a bundle, with more employment waiting now, to happen.

Compare and contrast with the Ivy League, and the GOP wannabe with the two Ivy League degrees. These people are so smart, they are bankrupt already: Just coming out of school, wherein they have been hiding out. This is not a Rodney Dangerfield movie, but is actual real life--More Like John Belushi, et. al., might have understood it!

What now, do all the Tea Partiers Belive In! Change From the Federal Government--and a whole lot of it.

Anyone recalls that none of these people apply Matthew 25:14-30, and Matthew 20:1-16, in the modern context. . .in the schools where they come from. Anyone guesses that Utah may be like that. Everyone knows that RNC is like that!

"Crow, James Crow: Shaken, Not Stirred!"
(Reservations, Indeed(?)! Got Reservations(?)!)

 

[Oddball]

The unemployment rate ticked down by a tenth of a point to a three-year low of 8.1 percent, but only because a drop in the number of people hunting for jobs shrank the labor force.

It was the third straight month in which hiring slowed, intensifying fears that the U.S. recovery is losing momentum and opening the door a bit wider for the Federal Reserve to ease monetary policy.

U.S. hiring slows, raising worries on recovery | Reuters

 

[mascale]

The actual report from Bureal of Labor Statistics reads like what is in the quote marks:

"Nonfarm payroll employment rose by 115,000 in April, and the unemployment
rate was little changed at 8.1 percent, the U.S. Bureau of Labor Statistics
reported today. Employment increased in professional and business services,
retail trade, and health care, but declined in transportation and warehousing."

"Household Survey Data"

"Both the number of unemployed persons (12.5 million) and the unemployment
rate (8.1 percent) changed little in April. . . ."

(Paragraph with a lot of stats deleted)

"The number of long-term unemployed (those jobless for 27 weeks and over)
was little changed at 5.1 million in April. These individuals made up 41.3
percent of the unemployed. Over the year, the number of long-term unemployed
has fallen by 759,000."

"The civilian labor force participation rate declined in April to 63.6 percent,
while the employment-population ratio, at 58.4 percent, changed little."

The long-term unemployed numbers are 1-3% in boom-times, so the decline in that is a major uptick, easily credited to Obama-Biden-Pelosi-Reid.

Getting back to the bail-out of the well-educated--An Echo Of The Reagan Trajectory, and of Vice President Cheney, who claimed to have Republican Proof that deficits don't matter--there is something very, very wrong!

"Crow, James Crow: Shaken, Not Stirred!"
(Many maybe now come to Writer's Guild of Hollywood: Seeking Non-Negro dialect! Many maybe come from Massachusetts, even(?)--seeking Tea-Replacement, too(?)!)

 

[Oddball]

Not even Reuters is carrying the water for Boiking anymore.

The total flameout is only a matter of time.

 

[waltky]

Granny says Capitol Hill needs to get its butt in gear an' fix dis...

Dismal hiring shows economy stuck in low gear
Fri, Jul 6, 2012 WASHINGTON (Reuters) - U.S. employers hired at a dismal pace in June, raising pressure on the Federal Reserve to do more to boost the economy and dealing another setback to President Barack Obama's reelection bid.

The Labor Department said on Friday that non-farm payrolls grew by just 80,000 jobs in June, the third straight month below 100,000. Job creation was too weak to bring down the country's 8.2 percent jobless rate and the report fueled concerns that Europe's debt crisis was shifting the U.S. economy into low gear. "We're just crawling forward here," said Nigel Gault, an economist at IHS Global Insight in Lexington, Massachusetts. While Obama holds a narrow lead in most national polls, many voters are critical of his handling of the economy. Speaking at a campaign rally in Ohio, Obama said the pace of job creation needs to pick up. "It's still tough out there," he said.

Mitt Romney, Obama's Republican challenger, assailed the president for not doing enough to get people back to work. "This kick in the gut has got to end," Romney told reporters in New Hampshire. U.S. stocks closed about 1 percent lower, while yields on U.S. government debt fell on bets the Fed would launch a new round of bond purchases to lower borrowing costs and spur hiring. The dollar fell against the yen, but rose against the euro as investors sought a safe haven.

HIRING STRIKE

Last month, the Fed extended a program aimed at keeping long-term interest rates down and said it was prepared to do more to spur the economic recovery if needed. The somber jobs report could move the central bank closer to a third round of so-called quantitative easing, or QE3. Reuters polled 16 primary dealers - the large financial institutions that do business with the Fed - and found 12 expect QE3 by year-end, with eight expecting it either at the Fed's next meeting, which wraps up on August 1, or its subsequent gathering in September. "You could see something as early as next month," said Brian Levitt, an economist at OppenheimerFunds in New York.

Economists estimate roughly 125,000 jobs are needed each month just to hold the jobless rate steady. During the second quarter, job creation averaged 75,000 per month, down from an average of 226,000 in the first quarter. Part of the slowdown could be because mild weather led companies to boost hiring during the winter at spring's expense. But weakness in everything from factory activity to retail sales suggests something more fundamental is at play and the jobs data buttressed that view. In June, factories added 11,000 workers and construction employment edged up 2,000, the first gain since January and further evidence the long-depressed housing market is steadying. However, hiring slowed sharply in the services industry, with retailers cutting 5,400 workers. Overall, private-sector hiring was the weakest since August.

UNCERTAINTY AND INSTABILITY

 

[Rozman]

I didn't hear one positive comment from any news agency regarding
the latest jobs report...I am talking about TV,and radio...and more then one
radio station...

That is until Obama commented and said the report was good.
Said something about us moving in the right direction.

Anybody still buying this guy's BS...