Unemployment Report (loans, union, credit, debt)

[BestintheWest]

Good news, bad news or a non
event?

Unemployment rate is still at 9.7%

Today’s report from the Labor Department showed that government payrolls increased by 39,000 in March. State and local governments reduced employment by 9,000 during the month, while the federal government added 48,000 for census workers.

[Philip T]

Originally Posted by aliveandwellinSA

Good news, bad news or a non
event?

Unemployment rate is still at 9.7%

Today’s report from the Labor Department showed that government payrolls increased by 39,000 in March. State and local governments reduced employment by 9,000 during the month, while the federal government added 48,000 for census workers.

Hire, fire, re-do the numbers, all good, all mathemagic.

Anything to keep the published number under 10%.

Double digit on the official published number is where the "we are losing" fears kick in.

Real number is still probably closer to 20%.

But lying for our good thing is a good thing, right?

[HappyTexan]

Don't forget about the birth/death numbers from the BLS..the number of jobs created/removed.

March 2010 they estimated 81K "new" jobs were created.

CES Net Birth/Death Model

[roadrat]

Why is that whenever the poll numbers are down you can expect some magic new "revised" numbers from the Fed.


bill

[floridasandy]

Where are the banks getting the money to lend to the US government? From the US government itself. The Federal Reserve has increased bank reserves by $1.4 trillion since the beginning of the crisis, feeding funds into the banking system which the banks immediately lend back to the government, along with $300 billion of additional funds freed up by the reduction in loans to the private sector.

growing government debt is a job killer.
reducing loans to the private sector is a job killer.

[lchoro]

I suspect that the government is borrowing in short maturities and buying back longer maturities to keep from having a failed treasury auction. A tremendous amount of the federal debt (3 trillion) has been borrowed over the last two years at near zero percent interest. Eventually, rates will rise sharply or something will have to be sacrificed to keep financing the debt at low rates.

[StealthRabbit]

Job (loss) numbers are bound to continue "looking improved" for the intermediate term.

• smaller % of jobs to loose
• many 'long-term' unemployed vanish from rolls, as they fall off the ranks when benefits expire
• any improvement in bottom line financials help businesses to retain the critical 'fewer' employees
• statistical ability to enhance the numbers.
• changing rules to apply (i.e. jobs created / jobs saved) You may note the majority of jobs 'created' in your state were of less than 4 days in length, as was the last report in my state.
• election cycle within reach for the number manipulators

[BestintheWest]

when you consider it takes 100,000 new job a month to satisfy the new people coming into the job market each month,
and 48,000 of the 162,000 were temp census jobs,
and 39,000 were government jobs,

you can conclude that only14,000 jobs gained
or that a negative or loss of 25,000 in the private sector

[nitroae23]

Massive layoffs ended several months back,jobs will come back slowly in the next several years.Remember,we are the only economy/government that ever tosses 7 million to the streets and lives to tell the tale.Try doing that in China,political unrest or revolution.Japan,decades of no growth and lifetime employment.Europe,unions would never tolerate it.We drop quicker and harder,and we deserve it.Mortgage backed securities,Credit default swaps,Liar loans (written by liars for liars).Made in America baby.Now who says we don't make nuthin'!!!!