HUGE MISS: May 2010 Private Sector Hiring Is Non-Existent (Hope & Change)

[Soul Crusher]

HUGE MISS: May Private Sector Hiring Is Non-Existent, Stocks Tanking
www.businessinsider.com
 
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Joe Weisenthal | Jun. 4, 2010, 8:30 AM | 920 |  14

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UPDATE: The market is tanking, as the new job creation came in at just 430K, with only 40k or so jobs created in the private sector.

The Dow is off 169 217. The NASDAQ is off 32.50 40.

The unemployment rate fell a little to 9.7%, but that's not what anyone's concerned about right now.

U-6, the so-called "real" unemployment rate, also fell a bit to 16.6%.

Click here to see 12 charts on the labor market >

Original post: The expected range for today's jobs report is extremely wide, with estimates for new jobs created varying between 500k to around 700K, so you might say that at this point a number of around 600K is what's expected.

There's a lot more attention being paid to this number than the actual unemployment rate, since that could spike up merely due to more discouraged employees entering the workforce, and not actually be reflective of a worsening job condition.

Of course, the other big issue that everyone will be looking at is Census-related job creation vs. private-sector job creation, the latter being a more sure sign of economic recovery (obviously).

Already the Census has indicated that it hired just over 400K in May, and so private sector job creation would need to be at least 100K to hit the bottom of the range, though that would be disappointing at this point.

Beyond that, there's no obvious answer on what the market will do with the numbers in the event of a beat or a miss. Our guess however is that the US market wants this to be very good, since the last thing anyone wants to see are signs that we're wavering.

For more perspective on the labor market, see these 12 charts.

Tags: Economy, Jobs, Unemployment
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Read more: http://www.businessinsider.com/may-jobs-report-2010-6#ixzz0pt7UhSsy

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when are you idiots going to start listening? 

[Soul Crusher]

I have an idea: 

1.  Lets pass a trillion dollar pofs Stimulus Bill that DESTROYS the economy. 
2.  Lets propose a massive energy tax on everyone. 
3.  Lets pass a DISASTER health care scam. 
4.  Lets ban drilling costing LA 20,000 jobs when it needs them most. 
5.  Lets propose card check and bailouts to the unions. 
6.  Lets give away TRILLIONS to the corrupt banks.
7.  Lets give away billions to bail out the greek homos (Al Sharptons' words not mine)
8.  Lets trash the private sector day in and day every day. 
9.  Lets claim we are for jobs but bash everyone who creates jobs. 
10.  Lets spend all day playing basketball, hosting gaudy parties at the WH, watching concerts, beer summits, etc. 
11.  Call for massive tax hikes in the form of VAT and ending the Bush tax cuts. 
12.  Pander to illegal aliens all day and night. 


Sounds like a great idea no?   

[Soul Crusher]

240 is going to have a hard time spinning this. 

[240 is Back]

so after there being 200, 300k new jobs the last few mmonths..

you're pissed that this month, there were only 40k new private sector jobs.

After finding $300 on the sidewalk yesterday, you're pissed that you only found $40 this morning? 

So, in light of a huge oil crisis, and completely ignoring the $$$ the 400k census workers are putting back into the economy...

You're extrememly pissed that Obama only created 40k new pvt sector jobs last month?

So um, you must have been 10 or 15 times more pissed when Bush LOST 400 or 600k jobs in the pvt sector the month before he left office.  But I can't find your post about that.  Weird.

[Soul Crusher]

so after there being 200, 300k new jobs the last few mmonths..

you're pissed that this month, there were only 40k new private sector jobs.

After finding $300 on the sidewalk yesterday, you're pissed that you only found $40 this morning? 

So, in light of a huge oil crisis, and completely ignoring the $$$ the 400k census workers are putting back into the economy...

You're extrememly pissed that Obama only created 40k new pvt sector jobs last month?

So um, you must have been 10 or 15 times more pissed when Bush LOST 400 or 600k jobs in the pvt sector the month before he left office.  But I can't find your post about that.  Weird.

That would be fine but the fact that WE SPENT TRILLIONS OF DOLLARS TO GET THIS IDIOTIC RESULT! 

[240 is Back]

we spent trillions of dollars to keep the monopoly money Buck afloat.

All the anti-american types know that the american dollar is built upon one thing - confidence.  And they do bin laden's work by talking 24/7 about how the dollar will fail, etc.

All that anti-american sentiment took its toll, ya know?  Obama had to print trillions, just like Bush did, to keep it afloat.

If these nay-sayers spent as much time BUILDING confidence as destroying it, you'd have a lot less americans selling their dollars for gold, yen, eurios, etc at a loss.











(hows that for spin?  LOL!)

[Soul Crusher]

Dow Jones Newswire - Wednesday June 2
Obama Says He Expects Strong US Jobs Report Friday
By Jared A. Favole

WASHINGTON -(Dow Jones)- President Barack Obama, speaking Wednesday at Carnegie Mellon University on the economy, said he expects strong job growth to be reported Friday.

The Labor Department is scheduled to report May's employment statistics Friday. Economists expect the unemployment rate to slide to 9.7% from 9.9% in April and for the report to show the U.S. added as many as 515,000 jobs last month after non farm payrolls rose by 290,000 in April.

Obama said an economy that was "once shrinking at an alarming rate" has now grown for three consecutive quarters and is moving in the right direction.

Read more: http://www.businessinsider.com/chart-of-the-day-the-scariest-job-chart-ever-just-got-even-scarier-2010-6#ixzz0ptlrKGXG

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FAIL

[BM OUT]

so after there being 200, 300k new jobs the last few mmonths..

you're pissed that this month, there were only 40k new private sector jobs.

After finding $300 on the sidewalk yesterday, you're pissed that you only found $40 this morning? 

So, in light of a huge oil crisis, and completely ignoring the $$$ the 400k census workers are putting back into the economy...

You're extrememly pissed that Obama only created 40k new pvt sector jobs last month?

So um, you must have been 10 or 15 times more pissed when Bush LOST 400 or 600k jobs in the pvt sector the month before he left office.  But I can't find your post about that.  Weird.

Ha,ha,your isnane.Once the stimulus is finnished UE will jump to 10.4% .Id say that will hit right around Sept.in plenty of time for the elections.

[MCWAY]

Now, Hannity is talking about how these census numbers are BOGUS. If a guy worked for the census for as little as AN HOUR PER MONTH, they count that as part of their "new jobs" total.

This is pitiful. But, cue the left to start blubbering about how "racist" you are, when you criticize Obama, based on the simple fact that his policies SUCK!!!!

BTW, for all the black people who monolithically went Obama, how is it that unemployment is ASTRONOMICAL among African-Americans? After all, the "dream" was accomplished. All those cheap T-Shirts and posters with Obama next to MLK........what happened?

Why ain't jobs falling out the sky like rain (Cue the "Blame Bush" mantra in 5.....4.....3....)?

The oceans were supposed to heal; the lame were to walk; the mute were to talk; loaves and fished multiplying; lepers cleansed, the world was supposed to adore us.....

Hmmm....hmmmm....hmmmm.. .....Barack Hussein Obama!!!

[BM OUT]

Now, Hannity is talking about how these census numbers are BOGUS. If a guy worked for the census for as little as AN HOUR PER MONTH, they count that as part of their "new jobs" total.

This is pitiful. But, cue the left to start blubbering about how "racist" you are, when you criticize Obama, based on the simple fact that his policies SUCK!!!!

BTW, for all the black people who monolithically went Obama, how is it that unemployment is ASTRONOMICAL among African-Americans? After all, the "dream" was accomplished. All those cheap T-Shirts and posters with Obama next to MLK........what happened?

Why ain't jobs falling out the sky like rain (Cue the "Blame Bush" mantra in 5.....4.....3....)?

The oceans were supposed to heal; the lame were to walk; the mute were to talk; loaves and fished multiplying; lepers cleansed, the world was supposed to adore us.....

Hmmm....hmmmm....hmmmm.. .....Barack Hussein Obama!!!

What they are doing also is firing census workers on friday and rehiring them on monday and calling creating another job.

My post should have said "once the census is over UE will jump to over 10%" because that will be a million jobs lost.

[MCWAY]

What they are doing also is firing census workers on friday and rehiring them on monday and calling creating another job.

That sounds like something a cheesy telemarketing company would do, to brag about how much the company has grown, adding "X" amount of employees each month. What they don't tell you is that it just canned "X-1" employees that same month.

I did the census thing 10 years ago, when I was in between jobs. I know firsthand that they are as TEMPORARY as you can get. You definitely can't feed your family that way.

My post should have said "once the census is over UE will jump to over 10%" because that will be a million jobs lost.

And that's why the left keeps spinning these job numbers. They KNOW that, if they try to run for re-election with "official" UE number exceeding 10%, no amount of Bush-bashing or Obama-worshipping will save them from the Rodney-King-style, woodshed whippings coming the Dems' way in November.

[Soul Crusher]

Wait till all the new college grads are entered into the workforce figures.  We will go over 10%. 

[MCWAY]

Wait till all the new college grads are entered into the workforce figures.  We will go over 10%. 

This should be when, for many of these folks, the liberal ideology goes out the window and the cold-hard TRUTH, about having to make a living in the real world hits.

[Soul Crusher]

This should be when, for many of these folks, the liberal ideology goes out the window and the cold-hard TRUTH, about having to make a living in the real world hits.

Very true.  Most liberal dolts become conservatives after their first pay check arrives and its 50% and they see all the deductions from the government. 

 

[MCWAY]

Very true.  Most liberal dolts become conservatives after their first pay check arrives and its 50% and they see all the deductions from the government. 

 

That's why I said, on another post, that I'd be in the ghetto if I accepted a $70,000 job in California.

[Soul Crusher]

That's why I said, on another post, that I'd be in the ghetto if I accepted a $70,000 job in California.

This is why I hate the left wing dolts who complain about "corporate america" etc for their declining ability to provide for themselves. 

Its not "Corporate America" stealing 50% of their paychecks, diluting the value fo their dollars and earnings, etc. 

When someone goes to work and 50% is STOLEN by the government in one form or another, its very clear who the real culprit is in the declining ability of people to lead a self sufficient life.