288,000 New Jobs......6.1% Unemployment.
MGLICKER
Posts: 7,995 ✭✭✭
Good strong summer number (I will let others debate the quality of the jobs).
Equities up modestly and bonds down modestly. Should be interesting to see if Dow cracks and holds 17,000 today.
Perhaps Wall Street needs to take off the QE training wheels.
Equities up modestly and bonds down modestly. Should be interesting to see if Dow cracks and holds 17,000 today.
Perhaps Wall Street needs to take off the QE training wheels.
0
Comments
I'll wait for the "revision," first set of numbers are always for the benefit of the market.
With a couple of part time jobs and a 60 hour work week a middle-class person should be able to maintain his standard of living.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I knew it would happen.
<< <i>June Full-Time Jobs Plunge By Over Half A Million, Part-Time Jobs Surge By 800K
I'll wait for the "revision," first set of numbers are always for the benefit of the market.
With a couple of part time jobs and a 60 hour work week a middle-class person should be able to maintain his standard of living. >>
ACA once again works its magic (glad I put in the quality disclaimer).
<< <i>things aren't as bad as you doom and gloomers make it. Those with the right skills and education have no problems finding jobs. >>
That has always been true. Many earned fortunes during the Great Depression.
But as we now have become a nanny state by majority mandate, is the rank and file American not entitled to a decent living wage job?*
*Not my view of the nation, as I learned about the American Dream back when a man or woman earned it, not demanded it.
rises.
bob
<< <i>Somewhere back in my mind I have it that it takes 350,000 to stay even. Anything less then the jobless percent number
rises.
bob
About 150k of fulltime jobs are needed to stay even. So this would be real growth, but if the FT has been replaced by PT, good luck.
<< <i>
I'll wait for the "revision," first set of numbers are always for the benefit of the market.
>>
The figures for both April and May were revised upward
Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.
<< <i>
<< <i>Somewhere back in my mind I have it that it takes 350,000 to stay even. Anything less then the jobless percent number
rises.
bob
About 150k of fulltime jobs are needed to stay even. So this would be real growth, but if the FT has been replaced by PT, good luck. >>
Maybe 10 years ago they said 200,000. Not sure why it was lowered to 150,000 but everyone is using that number now. 10,000 people every day turn 65 and supposedly retire. 3M people enter the work force every year.
<< <i>things aren't as bad as you doom and gloomers make it. Those with the right skills and education have no problems finding jobs. >>
I agree. The high-tech manufacturing company my wife works for is always hiring in just about every area. But they do get some bums at interviews who obviously don't want a real job.
Exports at an all-time high, manufacturing showing best gains in 4 years and corp. profits are growing which is why the stock market is booming. China is also making a comeback which is probably good for PMs.
When I got out of college unemployment was near 10%, inflation was 13%+ and I had a car loan for over 17%! Had to go back to work for my father for minimum wage which I think was $4.25?
Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.
<< <i>Exports at an all-time high, manufacturing showing best gains in 4 years and corp. profits are growing which is why the stock market is booming. >>
Much of the market rise is a result of 6 years of zero short term interest rates. Kudos to Mr. Bernanke for utilizing this tactic to encourage investors to make riskier bets (he has stated as much). So far it has been successful.
Hindenburg was pretty successful as well, but the end was kind of messy.
<< <i>things aren't as bad as you doom and gloomers make it. Those with the right skills and education have no problems finding jobs. >>
It's not about getting a paycheck, it's about what that paycheck will purchase. Job security does not guarantee financial security in the face of a weakening currency. "Real" incomes (adjusted for inflation) have been steadily declining. The economic future is gloomy and if steps aren't taken to protect oneself then doom lies ahead.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>
<< <i>things aren't as bad as you doom and gloomers make it. Those with the right skills and education have no problems finding jobs. >>
It's not about getting a paycheck, it's about what that paycheck will purchase. Job security does not guarantee financial security in the face of a weakening currency. "Real" incomes (adjusted for inflation) have been steadily declining. The economic future is gloomy and if steps aren't taken to protect oneself then doom lies ahead. >>
Hmm. My utility bill is DOWN thanks to natural gas prices. My property taxes are DOWN or steady for the past 5 years thanks to NJ having a 2% cap and my house getting reappraised DOWN. Gas prices at the pump have been steady for years. My ARM mortgage rate is at 2 7/8% for the past 5 years, DOWN from the initial 7 years at 4.25%. I can get money out of my HELOC any time I want at 2.5%. The stuff I just mentioned are my biggest expenses. Other stuff like food, clothes, medical are of course up. I would say overall, my expenses are fairly steady to ever so slightly up over the past 5 years. My income has risen at the COLA rate so I am up. My investments have surged as has the market. I'm not agreeing with your premise.
<< <i> Other stuff like food, clothes, medical are of course up. >>
Those items are rather significant, especially for the average earner in the $40-50k range.
Face it, many of us here are well along in our careers and have done well. Problem is the newly minted grads that are carrying the burden of 33 years of truly wasteful gov't spending. Food and medical costs (even if the medical is not used) have delivered a choke hold on many younger citizens that are just starting out.
Problem is the newly minted grads that are carrying the burden of *50* years of truly wasteful gov't spending. Food and medical costs (even if the medical is not used) have delivered a choke hold on many younger citizens that are just starting out.
How many of these new grads are going to be accumulating stocks when the retiring generation wants to sell? Whoops, where did the emperor's clothes go?
I knew it would happen.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Fixed it for you:
Problem is the newly minted grads that are carrying the burden of *50* years of truly wasteful gov't spending. Food and medical costs (even if the medical is not used) have delivered a choke hold on many younger citizens that are just starting out.
How many of these new grads are going to be accumulating stocks when the retiring generation wants to sell? Whoops, where did the emperor's clothes go? >>
Your the emperor!
I give away money. I collect money.
I don’t love money . I do love the Lord God.
<< <i>How many of these new grads are going to be accumulating stocks when the retiring generation wants to sell? >>
No doubt that the 11,000,000 on a path to citizenship will gladly buy the shares at fair market.
<< <i>
<< <i>
But as we now have become a nanny state by majority mandate, is the rank and file American not entitled to a decent living wage job?*
*Not my view of the nation, as I learned about the American Dream back when a man or woman earned it, not demanded it. >>
I dont see anyone demanding the American Dream actually getting it, but I do see many in the process of earning it.
Knowledge is the enemy of fear
Fixed it for ya.
Knowledge is the enemy of fear
In Hawaii, that translates into a 2013 package of $49,175 — up $7,265 from an inflation-adjusted $41,910 in 1995. Rounding out the top five areas for welfare benefits, along with their 2013 amounts, were: the District of Columbia ($43,099), Massachusetts ($42,515), Connecticut ($38,761) and New Jersey ($38,728)."""
Not a bad start to the American dream. At least if living in Hawaii or Cali or Arizona. Jersey is a pass.
2 of those new jobs were in metal roofing , the other precious metal
<< <i>92 million people not working/looking .. Not much good in that no matter what numbers they doctor up for the messiah >>
This actual number will continue to go higher as the population grows and ages. What would be more important--and less shocking, but that doesnt "sell"--would be the percentage of total population of those not working vs overall population. Even this number will look staggering as it shows the Baby Boomers retiring, but at least would be much more representative of the point trying to be expressed.
Knowledge is the enemy of fear
Hmm. My utility bill is DOWN thanks to natural gas prices. My property taxes are DOWN or steady for the past 5 years thanks to NJ having a 2% cap and my house getting reappraised DOWN. Gas prices at the pump have been steady for years. My ARM mortgage rate is at 2 7/8% for the past 5 years, DOWN from the initial 7 years at 4.25%.
Nat gas just completed a 5+ year crushing drop. Where do you think NG price is headed in the next 5-10 years? Same comment on oil and gas prices that have been down for 3 years. Don't make the mistake to think that the past 3-5 years of commodity prices getting smashed is going to continue for the next 5 years. It won't be long before you'll be complaining about your high utility bill once again. What's gone down in your favor will eventually turn back around. That $5-$20 TRILL in monetary injections by the FED eventually will show up in rising prices across the board.