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Today's BOGUS Job Report

Started by The_President
about 16 years ago
Posts: 2412
Member since: Jun 2009
Discussion about
Yeah, unemployment fell. Were all lucky! Looks like the Fed will raise interest rates soon now that we are all out of the woods! NOT SO FAST In November, retail sotres hired 321,000 people. Why is this bad news? Because these are part time TEMPORARY jobs that will mostly disappear in January. These are the worst jobs that the economy can add since they are low paying, part-time, and, most importantly TEMPORARY. http://www.calculatedriskblog.com/2009/12/seasonal-retail-hiring-employment.html
Response by alanhart
about 16 years ago
Posts: 12397
Member since: Feb 2007

To summarize, elves.

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Response by patient09
about 16 years ago
Posts: 1571
Member since: Nov 2008

pres:
but, at least for a few months it keeps 321,000 future criminals off the street.

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Response by NYCMatt
about 16 years ago
Posts: 7523
Member since: May 2009

Also, if we use the formula we used to determine that we had 30% unemployment at the height of the Great Depression, today's unemployment rate would be more like 22%.

We changed the formula back in the '70s to make the Carter administration look good during THAT recession.

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Response by kylewest
about 16 years ago
Posts: 4455
Member since: Aug 2007

Let me get this right: when jobless numbers go up it is bad news; when jobless numbers go down, it is also really bad news. Tough to argue with that kind of logic.

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Response by NYCMatt
about 16 years ago
Posts: 7523
Member since: May 2009

"Let me get this right: when jobless numbers go up it is bad news; when jobless numbers go down, it is also really bad news.

Here's the real logic:

Our present jobless "numbers" are a work of fiction, easily manipulated by the very agencies doing the "reporting". When jobless numbers go up, it's bad news for Americans. When jobless numbers go down, it's bad news for "Wall Street".

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Response by alanhart
about 16 years ago
Posts: 12397
Member since: Feb 2007

No, it's great news for two months, and then back to more bad news ... and we have little reason to believe that anything but that will happen past the end of the year.

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Response by somewhereelse
about 16 years ago
Posts: 7435
Member since: Oct 2009

They also noted that folks unemployed 6 months increased yet again.

The only reason that new jobs lost goes down is, there aren't as many jobs to lose anymore...

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Response by somewhereelse
about 16 years ago
Posts: 7435
Member since: Oct 2009

"Let me get this right: when jobless numbers go up it is bad news; when jobless numbers go down, it is also really bad news. Tough to argue with that kind of logic."

Let me get this right... you really think that the number of jobless is going down?

Funny.

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