Abaddon_Ambrosius
Title: Retired Theurgist TL
Posts:
25,187
Registered:
Dec 21, '01
Extended Info (if available)
Real Post Cnt: 25,057
User ID: 568,022
|
Subject:
Jobs growth in Jan: Good news no matter how you slice it.
|
Non-farm payrolls up 243,000.
That's the biggest gain since Feb 2009.
This is versus an adjusted increase of 203,000 in December.
Job growth was widespread throughout the sectors:
70,000 service/professional
40,000 hospitality
50,000 manufacturing
20,000 construction
Number of hours worked is on a growth trend... part-time employment is rising... all indicators are for job growth. This is the first report in a couple years that is this clearly pointing toward growth.
"Unemployment rate" is 8.3%, but as previously discussed, that's just a political number. So many are displaced from the job market and not looking for a year or two on end that the calculation of unemployment is immaterial.
-----signature-----
In the immortal words of Socrates - "I drank what?"
"God you guys suck at the internet - how can you fail to locate porn?!" - Eternal_Midnight
"Knowing means nothing." - Fat-badger
|
|
Link to this post
|
Akza
Posts:
10,121
Registered:
Sep 8, '02
Extended Info (if available)
Real Post Cnt: 9,783
User ID: 713,614
|
Subject:
Jobs growth in Jan: Good news no matter how you slice it.
|
It's another MEDIA LIE!
There were 700 million new unemployment claims!
They're not including all the people that fell off the employment radar!
Bush is my hero!
Odumba is skewing the data.. still a horrible president!
/a typical cut from the comment sections of places like yahoo finance
/edit i see you already used one of them, Abaddon
-----signature-----
·»Teydis ¤ Igraine«· ·»»·â€œ ¤Herra¤ “·««· http://www.backloggery.com/teylix
|
|
Link to this post
|
Abaddon_Ambrosius
Title: Retired Theurgist TL
Posts:
25,187
Registered:
Dec 21, '01
Extended Info (if available)
Real Post Cnt: 25,057
User ID: 568,022
|
Subject:
Jobs growth in Jan: Good news no matter how you slice it.
|
I've pointed out in the past the crap that passes for 'good news'. However, this is some actual good news, for once.
Keep that kind of job growth up for another 3-4 months and we'll be seeing some tangible goodness come from it. Confidence increases... spending increases... fueling more job growth... etc.
-----signature-----
In the immortal words of Socrates - "I drank what?"
"God you guys suck at the internet - how can you fail to locate porn?!" - Eternal_Midnight
"Knowing means nothing." - Fat-badger
|
|
Link to this post
|
Heladric
Title: Alcohol Enthusiast
Posts:
39,477
Registered:
Jun 3, '02
Extended Info (if available)
Real Post Cnt: 28,652
User ID: 685,052
|
Subject:
Jobs growth in Jan: Good news no matter how you slice it.
|
|
That's a big number. Now Republicans will really push for tax breaks on the job creat... I mean rich people.
-----signature-----
I can't hear you over the sound of how awesome I am.
There is not possibly enough room in the VN data store to contain a post outlining all the problems with women. - Abaddon Ambrosius
|
|
Link to this post
|
Abaddon_Ambrosius
Title: Retired Theurgist TL
Posts:
25,187
Registered:
Dec 21, '01
Extended Info (if available)
Real Post Cnt: 25,057
User ID: 568,022
|
Subject:
Jobs growth in Jan: Good news no matter how you slice it.
|
More good news -- job growth of 257,000 for private (non-governmental) payrolls.
-----signature-----
In the immortal words of Socrates - "I drank what?"
"God you guys suck at the internet - how can you fail to locate porn?!" - Eternal_Midnight
"Knowing means nothing." - Fat-badger
|
|
Link to this post
|
Brother_Tempus
Title: Patriot
Posts:
48,624
Registered:
Jan 9, '01
Extended Info (if available)
Real Post Cnt: 48,310
User ID: 61,868
|
Subject:
Jobs growth in Jan: Good news no matter how you slice it.
|
1.2 milllion people dropped out of the labor force in January placing the participation rate @ 63.5%
So as the labor force increased from 153.9 million to 154.4 million, the non institutional population increased by 242.3 million meaning, those not in the labor force surged from 86.7 million to 87.9 million. Which means that the civilian labor force tumbled to a fresh 30 year low of 63.7% as the BLS is seriously planning on eliminating nearly half of the available labor pool from the unemployment calculation.
-----signature-----
You win ACF, dude - Osmenthe
BT is usually right - Onslaught
i think we need more BT on page 1 - FighterUSAF
Yep, BT is right - Aerlinthian
Got guns & ammo? Food? Precious metals?
|
|
Link to this post
|
Abaddon_Ambrosius
Title: Retired Theurgist TL
Posts:
25,187
Registered:
Dec 21, '01
Extended Info (if available)
Real Post Cnt: 25,057
User ID: 568,022
|
Subject:
Jobs growth in Jan: Good news no matter how you slice it.
|
I've already poo-poo'd the unemployment number. It's worthless.
But a sustained jobs growth rate of over 250,000 per month in the private sector is good, no matter how that's sliced. Get the jobs created, and the rest starts to take care of itself.
-----signature-----
In the immortal words of Socrates - "I drank what?"
"God you guys suck at the internet - how can you fail to locate porn?!" - Eternal_Midnight
"Knowing means nothing." - Fat-badger
|
|
Link to this post
|
Brother_Tempus
Title: Patriot
Posts:
48,624
Registered:
Jan 9, '01
Extended Info (if available)
Real Post Cnt: 48,310
User ID: 61,868
|
Subject:
Jobs growth in Jan: Good news no matter how you slice it.
|
Abaddon_Ambrosius posted:
I've already poo-poo'd the unemployment number. It's worthless.
But a sustained jobs growth rate of over 250,000 per month in the private sector is good, no matter how that's sliced. Get the jobs created, and the rest starts to take care of itself.
Depends on how the jobs got created ... if it is actually private investment then that is good, if it is through federal subsides ( directly or indirectly) than its a bubble that cannot be sustained
-----signature-----
You win ACF, dude - Osmenthe
BT is usually right - Onslaught
i think we need more BT on page 1 - FighterUSAF
Yep, BT is right - Aerlinthian
Got guns & ammo? Food? Precious metals?
|
|
Link to this post
|
Rosaria
Title: They call me Mellow Yellow, quite rightly.
Posts:
46,983
Registered:
Aug 22, '03
Extended Info (if available)
Real Post Cnt: 44,486
User ID: 832,524
|
Subject:
Jobs growth in Jan: Good news no matter how you slice it.
|
|
AA I heard this morning that they used a new method for calculating the unemployment numbers in January that will be used for the rest of the year. Did you hear anything about that? I'm going to pursue it later, don't have the time right now.
-----signature-----
"Them Bollinger Bands on the DJIA are starting to look like columns of projectile vomit." ~ Red Pill
|
|
Link to this post
|
Ptilk
Title: Creepy old pirate
Posts:
50,658
Registered:
Feb 13, '02
Extended Info (if available)
Real Post Cnt: 48,530
User ID: 645,124
|
Subject:
Jobs growth in Jan: Good news no matter how you slice it.
|
My normal early AM hangout is a local all night coffee shop/diner.
I usually drop in there for an hour or two 3 or 4 nights a week. Lots of regulars there have been out of work for a long time 6 months, 8 months, a year, or even longer.
Over the past couple of months, many of them have been called back to work. This is a manufacturing area with lots of really huge industrial operations. I can't count the number of people who have told me that they got called back to work after a long lay off just in the past couple of months.
Decent jobs as well. Pay rates run from high teens/per hour and up with good benefits as well.
Something is happening. Not sure if it's going to stick around, but around here, times are getting MUCH better. You can see it. Stores and restaurants are busier, more cars on the street, late night used to be virtually deserted, now people are out, coming home from clubs and places in the city, everyone is noticing it. A lot of cops stop in the place and I spend a bit of time talking to them most nights I'm there. The number of drunks they pick up nightly has dropped off in a big way.
I hate to even hope, but maybe it's actually finally going to get better.
-----signature-----
(none)
|
|
Link to this post
|
theredkay1
Posts:
6,731
Registered:
May 16, '08
Extended Info (if available)
Real Post Cnt: 6,729
User ID: 1,297,378
|
Subject:
Jobs growth in Jan: Good news no matter how you slice it.
|
Finally an actual good report.
Wages rose, strong job growth in restaurants and finally signs of life in construction jobs.....restaurants and construction will be the way to get people back to work quickly.
Rosaria posted:
AA I heard this morning that they used a new method for calculating the unemployment numbers in January that will be used for the rest of the year.
January is when they make their once a year adjustment to job numbers for the previous year, revise their population numbers and tweak their seasonal adjustment formulas. This may have been what you heard.
Changes to The Employment Situation Data |
| |
|Establishment survey data have been revised as a result of the |
|annual benchmarking process and the updating of seasonal |
|adjustment factors. Also, household survey data for January 2012 |
|reflect updated population estimates. See the notes at the end of|
|the news release for more information about these changes.
-----signature-----
(none)
|
|
Link to this post
|
ZigmundZag
Title: Grammar Nazi
Posts:
25,948
Registered:
Mar 25, '02
Extended Info (if available)
Real Post Cnt: 22,707
User ID: 661,552
|
Subject:
Jobs growth in Jan: Good news no matter how you slice it.
|
|
I'm pleasantly surprised. I know a few companies that chose January as their "cleaning house" season. Good to know it's not more widespread.
-----signature-----
"Take the cheese to sickbay!"
|
|
Link to this post
|
Abaddon_Ambrosius
Title: Retired Theurgist TL
Posts:
25,187
Registered:
Dec 21, '01
Extended Info (if available)
Real Post Cnt: 25,057
User ID: 568,022
|
Subject:
Jobs growth in Jan: Good news no matter how you slice it.
|
Rosaria posted:
AA I heard this morning that they used a new method for calculating the unemployment numbers in January that will be used for the rest of the year. Did you hear anything about that? I'm going to pursue it later, don't have the time right now.
Yeah I didn't dig on that either and need to. However, it seemed to be more about changes that create retroactive adjustments going back three months, not so much about forward projection methods.
-----signature-----
In the immortal words of Socrates - "I drank what?"
"God you guys suck at the internet - how can you fail to locate porn?!" - Eternal_Midnight
"Knowing means nothing." - Fat-badger
|
|
Link to this post
|
Ashmaele
Title: Pastor of Muppets
Posts:
19,662
Registered:
Jan 15, '02
Extended Info (if available)
Real Post Cnt: 15,903
User ID: 612,352
|
Subject:
Jobs growth in Jan: Good news no matter how you slice it.
|
ZigmundZag posted:
I'm pleasantly surprised. I know a few companies that chose January as their "cleaning house" season. Good to know it's not more widespread.
We laid 3 people off in January, first time I have seen layoffs since I started with this company.
To be fair, they were shitty employees who needed to be let go, but still, it was kind of saddening to see it. 
-----signature-----
I had a dream. It was an incredible dream. When I awoke, I had a huge mess to clean up. 
|
|
Link to this post
|
Sin_of_Onin
Posts:
35,113
Registered:
Jun 29, '05
Extended Info (if available)
Real Post Cnt: 23,763
User ID: 1,062,657
|
Subject:
Jobs growth in Jan: Good news no matter how you slice it.
|
This is good news. When December showed signs of hope the major fear was that it was temporary and wouldn't last. The numbers that come out over the next two months will be important in determining how companies are reacting to December. When the economy started to falter again (months ago) there was a lot of fear of a double dip but there was also historical precedent for recoveries to hit a bump in the road. Since then it has been a matter of waiting for signs either way.
At this point I think that there is a lot of reason to believe the recovery is back on and the trend down was just a bump and not a dip. I still think it will continue to be a relatively slow recovery. Federal Spending is likely to go down, taxes are likely to go up, income for the 1% may not be growing as strong as it usually does in a recovery, the crisis in Europe, etc.
-----signature-----
"Okay... I'm with you fellas" --Delmar
F is for Fake-believe
"We apologise for the inconvenience" --God
"What Jesus fails to appreciate is that it's the meek who are the problem"--Reg
Run, Forrest! Run!
|
|
Link to this post
|
cabbyman
Posts:
36,024
Registered:
Jan 6, '03
Extended Info (if available)
Real Post Cnt: 30,306
User ID: 755,896
|
Subject:
Jobs growth in Jan: Good news no matter how you slice it.
|
I spend an hour and a half every day on the road driving to and from work.
There are a LOT more semis on the road recently.
I believe good things are starting to happen.
-----signature-----
“No man’s life, liberty, or property are safe while the Legislature is in session.â€
"Life's tough. It's tougher if you're stupid." -- John Wayne
“If there must be trouble, let it be in my day, that my child may have peace†- Thomas Paine
|
|
Link to this post
|
theredkay1
Posts:
6,731
Registered:
May 16, '08
Extended Info (if available)
Real Post Cnt: 6,729
User ID: 1,297,378
|
Subject:
Jobs growth in Jan: Good news no matter how you slice it.
|
|
Congress and the Fed definately have the ability to derail things. Fighting deficits and taking steps to nip price increases in the bud with tighter money will take the wind out of our sails....and both of those are the #1 goal for many decision makers. A few good months of job gains might give them the cover they need to slow things down.
-----signature-----
(none)
|
|
Link to this post
|
SirGarth
Title: Moderator
iMod
Posts:
26,497
Registered:
May 17, '02
Extended Info (if available)
Real Post Cnt: 23,841
User ID: 680,156
|
Subject:
Jobs growth in Jan: Good news no matter how you slice it.
|
|
i don't think BT is capable of processing positive information unless it's about the price of gold or Ron Paul newsletters.
-----signature-----
|
|
Link to this post
|
dae_trist
Posts:
25,414
Registered:
Jun 5, '03
Extended Info (if available)
Real Post Cnt: 24,553
User ID: 809,124
|
Subject:
Jobs growth in Jan: Good news no matter how you slice it.
|
|
The Bush Jobs Recovery
-----signature-----
"templars heal for like 300-400 a heal"
"wardens do waht 40 dps at most? friars do 600 dps"
"well maybe the aoe taunt that bains had..."
"Eck theurg pets are unstunnable..." -- bryldan
|
|
Link to this post
|
