176,000 Private Payroll Jobs in April/DOW 15,000

[DEATH ROW JOE]

THE EMPLOYMENT SITUATION -- APRIL 2013
http://www.bls.gov/news.release/empsit.nr0.htm

Establishment Survey Data

Total nonfarm payroll employment increased by 165,000 in April (private +176K, Govt -11K) , with
job gains in professional and business services, food services and
drinking places, retail trade, and health care. Over the prior 12
months, employment growth averaged 169,000 per month. (See table B-1.)

Professional and business services added 73,000 jobs in April and has
added 587,000 jobs over the past year. In April, employment rose in
temporary help services (+31,000), professional and technical services
(+23,000), and management of companies (+7,000).

Within leisure and hospitality, employment in food services and
drinking places rose by 38,000 over the month. Job growth in the food
services industry averaged 25,000 per month over the prior 12 months.

Retail trade employment increased by 29,000 in April. The industry
added an average of 21,000 jobs per month over the prior 12 months. In
April, job growth occurred in general merchandise stores (+15,000) and
in health and personal care stores (+5,000).

Health care added 19,000 jobs in April. Within the industry, employment
rose in ambulatory health care services (+14,000). Over the prior 12
months, job growth in health care averaged 24,000 per month. In April,
employment also continued its upward trend in social assistance (+7,000).

Employment changed little over the month in construction, with small
offsetting movements in the residential and nonresidential components.
Construction gained an average of 27,000 jobs per month over the prior
6 months. Manufacturing employment was unchanged in April.

Employment in other major industries, including mining and logging,
wholesale trade, transportation and warehousing, financial activities,
and government, showed little change over the month.

The average workweek for all employees on private nonfarm payrolls
decreased by 0.2 hour in April to 34.4 hours. Within manufacturing,
the workweek decreased by 0.1 hour to 40.7 hours, and overtime declined
by 0.1 hour to 3.3 hours. The average workweek for production and
nonsupervisory employees on private nonfarm payrolls decreased by 0.1
hour to 33.7 hours. (See tables B-2 and B-7.)

In April, average hourly earnings for all employees on private nonfarm
payrolls rose by 4 cents to $23.87. Over the year, average hourly
earnings have risen by 45 cents, or 1.9 percent. In April, average
hourly earnings of private-sector production and nonsupervisory
employees edged up by 2 cents to $20.06. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for February was
revised from +268,000 to +332,000, and the change for March was
revised from +88,000 to +138,000. With these revisions, employment
gains in February and March combined were 114,000 higher than
previously reported.

Household Survey Data

The unemployment rate, at 7.5 percent, changed little in April but has
declined by 0.4 percentage point since January. The number of unemployed
persons, at 11.7 million, was also little changed over the month; however,
unemployment has decreased by 673,000 since January. (See table A-1.)

Among the major worker groups, the unemployment rate for adult women
(6.7 percent) declined in April, while the rates for adult men (7.1
percent), teenagers (24.1 percent), whites (6.7 percent), blacks (13.2
percent), and Hispanics (9.0 percent) showed little or no change. The
jobless rate for Asians was 5.1 percent (not seasonally adjusted),
little changed from a year earlier. (See tables A-1, A-2, and A-3.)

In April, the number of long-term unemployed (those jobless for 27
weeks or more) declined by 258,000 to 4.4 million; their share of the
unemployed declined by 2.2 percentage points to 37.4 percent. Over the
past 12 months, the number of long-term unemployed has decreased by
687,000, and their share has declined by 3.1 percentage points. (See
table A-12.)

The civilian labor force participation rate was 63.3 percent in April,
unchanged over the month but down from 63.6 percent in January. The
employment-population ratio, 58.6 percent, was about unchanged over
the month and has shown little movement, on net, over the past year.
(See table A-1.)

In April, the number of persons employed part time for economic
reasons (sometimes referred to as involuntary part-time workers)
increased by 278,000 to 7.9 million, largely offsetting a decrease in
March. These individuals were working part time because their hours
had been cut back or because they were unable to find a full-time job.
(See table A-8.)

In April, 2.3 million persons were marginally attached to the labor
force, essentially unchanged from a year earlier. (The data are not
seasonally adjusted.) These individuals were not in the labor force,
wanted and were available for work, and had looked for a job sometime
in the prior 12 months. They were not counted as unemployed because
they had not searched for work in the 4 weeks preceding the survey.
(See table A-16.)

Among the marginally attached, there were 835,000 discouraged workers
in April, down by 133,000 from a year earlier. (The data are not
seasonally adjusted.) Discouraged workers are persons not currently
looking for work because they believe no jobs are available for them.
The remaining 1.5 million persons marginally attached to the labor
force in April had not searched for work in the 4 weeks preceding the
survey for reasons such as school attendance or family responsibilities.
(See table A-16.)

[Sheep_Mafia]

I'm glad we won't have to hear about Obama's sequestration plan causing job loss this month..So there's that.

The DOW has long since left any basis in reality. If the news is bad--celebrate that QE will continue at the current pace and the DOW goes up. If the news is good, and this really isn't great, DOW goes up.

As to these numbers, the low wage recovery rolls on. Because of the drop in average weekly hours, companies actually paid a few hundred million less in payroll weekly than they did in March, even with the creation of 165,000 jobs. So, that equals more hammering of the middle and lower income classes and more part time jobs.

[DEATH ROW JOE]

I'm glad we won't have to hear about Obama's sequestration plan causing job loss this month..So there's that.

Govt shed 11,000 jobs. Try to read a post before responding to it.

Govt Employment:
March 2013: 21.855 million
April 2013: 21.844 million

The DOW has long since left any basis in reality. If the news is bad--celebrate that QE will continue at the current pace and the DOW goes up. If the news is good, and this really isn't great, DOW goes up.

The DOW is grounded in the reality that corporate profits are near post-war highs as a share of national income.

As to these numbers, the low wage recovery rolls on. Because of the drop in average weekly hours, companies actually paid a few hundred million less in payroll weekly than they did in March, even with the creation of 165,000 jobs.

Good job contradicting your claim in the previous sentence that the DOW is not grounded in reality. Low wage growth mean higher corporate profits. That's one reason the GOP opposes doing anything to help the unemployed. You're obviously thoughtlessly parroting a hodgepodge of crap you heard on Fox or some other conservative media outlet.

So, that equals more hammering of the middle and lower income classes and more part time jobs.

And the solution you propose is what exactly? Cut taxes on the Koch Bros? Cut food stamp benefits? Raise interest rates? Cut social security benefits? Make it harder to qualify for disability and welfare? Bust up unions? Stronger dollar so low income workers are forced to compete with 12 year old factory workers in Malaysia? These are the "solutions" proposed by the GOP.

[Sheep_Mafia]

Wait, you think the financial markets are based in reality? That explains a lot. The market is nothing more than another bubble waiting to burst. Why do you think the Fed won't pull back on printing and pumping money into the system and what would happen if they did? Do you even know? What's plan B to that strategy. Going to just have QE forever? House of cards.

As for parroting any other site, you are the one constantly posting material from other sites. I've yet to see you demonstrate that you are capable of having a thought of your own, and certainly not one that doesn't go straight down party lines. None of that changes the fact that the numbers you are celebrating have a dark lining behind them that you apparently are unable to interpret.

The GOP opposes doing anything for the unemployed? I've not heard that but, what more do they refuse to do allegedly? You want 3 years of unemployment benefits, or maybe just indefinite? More food stamps though there are more households on food stamps than in the history of this country? Spare me if its just more liberal policy that does nothing but make even more people poor. No more policies that make people just give up and leave the workforce. The inner cities of the United States have provided quite enough of an example of the failure of liberal policies.

This stuff isn't hard--look at the scoreboard. Jobs, wages, workforce, debt, market manipulation that will eventually come with a bill, poverty, wealth disparity and pretty much any other indicator point to nothing but the incredible disaster that Obama and the rest of Washington have become. Defend that with hollow arguments all you like but there will come a time when most people, with the exception of party lunk heads like yourself, will admit its not working.

[Moggio]

DEATH ROW BLOW JOB is still obviously too BUTTHURT over my constant OWNAGE of him.

Gold has SKY-ROCKETED over the past 10-12 years. Not only that, but you didn't mention that ALL markets experience lulls from time to time...and that there are NO exceptions. And just because there's been a lull in Gold over the past 6 or so months means JACK SHIT ALL unless its value is mostly or completely lost...but since it has since increased again, that's NOT the case.

And ANYONE who thinks that there's anything but an ARTIFICIAL recovery going on right now, considering the Fed is now printing $85 BILLION per month (up from $40 BILLION per month), and that the US is borrowing $3 BILLION+ per day from creditors like China, Japan (who are already in recession themselves), etc., and that interest/inflation rates aren't ARTIFICIAL manipulated by the Fed at 0% or nearly 0% in order to prevent the Currency/Treasuries Bubble from bursting quicker than it otherwise would, have their heads so far up their asses, that the only light they'll be seeing any time soon is through their nostrils. Oh...and did I already mention that more Americans are on food stamps than EVER before (48 million, as opposed to 32 million 4 years ago) and that the Employment Rate is the lowest it's been since May of 1979 at 63.3%?!

Lastly, not even ONE quote or statement above that you've posted disproves ANYTHING I've stated. But keep posting away, it's always quite the entertaining show...




Keep tryin' and you'll keep failin'...

[DEATH ROW JOE]

DEATH ROW BLOW JOB is still obviously too BUTTHURT over my constant OWNAGE of him.

You've never owned anyone in your life Moggio.

Gold has SKY-ROCKETED over the past 10-12 years.

Wrong. A gold bubble inflated between 2003 to 2011. The bubble has been deflating for the past 18 months and it will continue to deflate.

The fact that gold prices "skyrocketed" in a short period should tell you that it's a risky investment, not a sure thing as you claim.

You're quite stupid and financially illiterate.

Not only that, but you didn't mention that ALL markets experience lulls from time to time...and that there are NO exceptions.

This is not a lull. Gold went nowhere for 20 years and a gold bubble started to inflate when the dollar started to fall in 2002. Now the bubble is slowly deflating.

You don't follow these markets Moggio. Don't pretend that you do.

And just because there's been a lull in Gold over the past 6 or so months means JACK SHIT ALL unless its value is mostly or completely lost...but since it has since increased again, that's NOT the case.

LMFAO, you told people to buy gold when it was 1728. Gold is now 1469. Meanwhile the market is up 10% during the same period.

And ANYONE who thinks that there's anything but an ARTIFICIAL recovery going on right now, considering the Fed is now printing $85 BILLION per month (up from $40 BILLION per month), and that the US is borrowing $3 BILLION+ per day from creditors like China, Japan (who are already in recession themselves), etc., and that interest/inflation rates aren't ARTIFICIAL manipulated by the Fed at 0% or nearly 0% in order to prevent the Currency/Treasuries Bubble from bursting quicker than it otherwise would, have their heads so far up their asses, that the only light they'll be seeing any time soon is through their nostrils.

You don't even understand half the words you are using.

Real GDP growth is a sum of productivity growth, population growth and the change in the employment to population ratio. If you have 2% productivity growth, 1% population growth and the employment to population ratio goes from 60% to 61.2%, then you would have 5% real GDP growth.

Fed policy primarily influences the rate of change in the employment to population ratio.

Productivity growth and population growth happen naturally. Worker productivity grows 1.5-2%/year. Population grows 1%/year on average.

The employment to population ratio is basically unchanged the past 3 years. So to suggest economic growth is "fake" proves you do not understand the components of economic growth.

The economy is in a liquidity trap and monetary policy is largely ineffective. That's why they are pursuing alternative strategies like quantitative easing. It's helping a little, but not much. Certainly it does not account for all the growth in the economy.

Regarding foreign lending, borrowing money from overseas is a consequence of the trade deficit. If you even read a 100 pages of any economic text book, you would know this. It has zilch to do with whether a recovery is fake or real. It has to do with the relative value of the dollar to other currencies. If the US has a trade deficit, then it will borrow money from abroad. A relatively strong dollar leads to a trade deficit and foreign lending.

capital account = current account

You never saw that accounting identity because you know zilch about economics.

So far as a stock bubble, you can see from the relationship between after tax corporate profits and the DOW that stocks are currently under priced, not overpriced.

Oh...and did I already mention that more Americans are on food stamps than EVER before (48 million, as opposed to 32 million 4 years ago) !

The govt made it easier to qualify for food stamps idiot. That's why they are more on food stamps. They needed to make it easier to qualify for food stamps because the Bush recession wiped out 11 years of private sector job growth while the working age population grew for 11 years.

and that the Employment Rate is the lowest it's been since May of 1979 at 63.3%?

You're confusing two economic indicators and using the wrong phrase to describe it. You're completely clueless.

The labor force participation rate is 63.3%.

The employment-population ratio is 58.6%.

The employment - population ratio is not growing because the population is growing faster than the population. So it's not a symptom of "no recovery" as you claim. It's a symptom of a sluggish recovery which I predicted back in Sept 2008. The posts are there on the ZVD thread on the hater's board.

Employment level:
April 2010: 139.296
April 2013: 143.579 = 3% increase over 3 years

Civilian noninstitutional population
April 2010: 237.329 million
April 2013: 245.175 million = 3.3% increase over 3 years

Civilian Employment-Population Ratio:
April 2010: 58.7%
April 2013: 58.6%

So far as the labor force participation rate, the labor force is growing very slowly due to demographics, not because the recovery is fake. That is why the labor force participation rate falls. The labor force has grown by a million in the past 3 years. Population has grown by 8 million.

Employment: A decline in the participation rate was expected due to the aging population
http://www.calculatedriskblog.com/2012/ ... ation.html

Lastly, not even ONE quote or statement above that you've posted disproves ANYTHING I've stated. But keep posting away, it's always quite the entertaining show...

You said the economy would collapse within 5 months. You said it 6 months ago. You said to buy gold when it was 1728. It's now 1469, down 15% in 6 months.

You got it wrong and there is not a fucking thing you can do about it.

You are getting your economic analysis for anarchists who simply hate govt and so long as govt is involved in the economy, they have no choice but to predict doom. You don't follow economic news so you think they are onto something. If the economy was growing at 7% and at full employment, people like Peter Schiff and ZERO Hedge would still predict imminent collapse. They have no choice but to say that because of their ideology.

[Sheep_Mafia]

Yeah DRJ, the reason the most people in history are on food stamps is because "the government made it easier to qualify"...Has nothing to do with record poverty, the low wage recovery, the part time jobs, the still pathetic unemployment and underemployment facts, the growing income disparity and the everyday crushing of the middle class in a variety of ways.

Sure federal and state governments have made it easier to qualify but you still have to be freaking poor and more people are poor and Obama has done nothing about it. He's like the Dr. that just medicates to treat symptoms without ever resolving the underlying problems. The issue isn't that people get food stamps, its that they are poor enough to have to get food stamps. That issue isn't getting better, clearly by the numbers and has only worsened (putting it mildly) since Obama has been in office. He has no way out of anything. Just rely on the Fed to gear up the next round of QE and pass out the snap cards. That's not a strategy, that's a stall tactic to try and ride out the rough tide and hope the economy does its thing and we have a cyclical upturn.

We're into the 2nd term and this administration is a failure, just like your posts that attempt to say otherwise are. Stop pretending that you understand economics and talking down to Moggio with the dumb shit you say.

[Moggio]

DEATH ROW BLOW JOB is still obviously too BUTTHURT over my constant OWNAGE of him.

You've never owned anyone in your life Moggio.

Gold has SKY-ROCKETED over the past 10-12 years.

Wrong. A gold bubble inflated between 2003 to 2011. The bubble has been deflating for the past 18 months and it will continue to deflate.

The fact that gold prices "skyrocketed" in a short period should tell you that it's a risky investment, not a sure thing as you claim.

You're quite stupid and financially illiterate.

LOL!

First of all, this is Gold's first major decrease in 10 or so years, moron. And if what you're saying is true (though, of course, it isn't), then why has Gold INCREASED again after its sudden decrease?!

Not only that, but you didn't mention that ALL markets experience lulls from time to time...and that there are NO exceptions.

This is not a lull. Gold went nowhere for 20 years and a gold bubble started to inflate when the dollar started to fall in 2002. Now the bubble is slowly deflating.

You don't follow these markets Moggio. Don't pretend that you do.

BS. If what you're saying is true (though, of course, it isn't), then why has Gold INCREASED again after its sudden decrease?!

And just because there's been a lull in Gold over the past 6 or so months means JACK SHIT ALL unless its value is mostly or completely lost...but since it has since increased again, that's NOT the case.

LMFAO, you told people to buy gold when it was 1728. Gold is now 1469. Meanwhile the market is up 10% during the same period.

For the THIRD time now, Gold is INCREASING again, you idiot.

And ANYONE who thinks that there's anything but an ARTIFICIAL recovery going on right now, considering the Fed is now printing $85 BILLION per month (up from $40 BILLION per month), and that the US is borrowing $3 BILLION+ per day from creditors like China, Japan (who are already in recession themselves), etc., and that interest/inflation rates aren't ARTIFICIAL manipulated by the Fed at 0% or nearly 0% in order to prevent the Currency/Treasuries Bubble from bursting quicker than it otherwise would, have their heads so far up their asses, that the only light they'll be seeing any time soon is through their nostrils.

You don't even understand half the words you are using.

Real GDP growth is a sum of productivity growth, population growth and the change in the employment to population ratio. If you have 2% productivity growth, 1% population growth and the employment to population ratio goes from 60% to 61.2%, then you would have 5% real GDP growth.

Fed policy primarily influences the rate of change in the employment to population ratio.

Productivity growth and population growth happen naturally. Worker productivity grows 1.5-2%/year. Population grows 1%/year on average.

The employment to population ratio is basically unchanged the past 3 years. So to suggest economic growth is "fake" proves you do not understand the components of economic growth.

The economy is in a liquidity trap and monetary policy is largely ineffective. That's why they are pursuing alternative strategies like quantitative easing. It's helping a little, but not much. Certainly it does not account for all the growth in the economy.

Regarding foreign lending, borrowing money from overseas is a consequence of the trade deficit. If you even read a 100 pages of any economic text book, you would know this. It has zilch to do with whether a recovery is fake or real. It has to do with the relative value of the dollar to other currencies. If the US has a trade deficit, then it will borrow money from abroad. A relatively strong dollar leads to a trade deficit and foreign lending.

capital account = current account

You never saw that accounting identity because you know zilch about economics.

So far as a stock bubble, you can see from the relationship between after tax corporate profits and the DOW that stocks are currently under priced, not overpriced.

NOTHING you've stated above detracts from what I've already stated above. And most of the crap you spew above is Keynesian Economics 101. You need to start studying the Chicago and/or Austrian School Of Economics...and FAST - it's by FAR more accurate and effective than Keynesianism will EVER be.

Oh...and did I already mention that more Americans are on food stamps than EVER before (48 million, as opposed to 32 million 4 years ago) !

The govt made it easier to qualify for food stamps idiot. That's why they are more on food stamps. They needed to make it easier to qualify for food stamps because the Bush recession wiped out 11 years of private sector job growth while the working age population grew for 11 years.

That's only PART of the reason why more people are on food stamps. However, the primary reason is because of your idiotic President's socialistic Keynesianism BS: borrowing over $3 BILLION per day, adding to the US National Debt (which is now $16.8 TRILLION) more than ALL 40+ Presidents COMBINED and in only less than 4 years, and over-seeing of the printing of $85 BILLION per month. And hence, his extremely destructive policies are making the quality of life in your country WORSE. That's why there now is a Currency/Treasuries Bubble and it will burst shortly, sending the US (and much of the world) into THE worst depression we've EVER seen...

and that the Employment Rate is the lowest it's been since May of 1979 at 63.3%?

You're confusing two economic indicators and using the wrong phrase to describe it. You're completely clueless.

The labor force participation rate is 63.3%.

The employment-population ratio is 58.6%.

The employment - population ratio is not growing because the population is growing faster than the population. So it's not a symptom of "no recovery" as you claim. It's a symptom of a sluggish recovery which I predicted back in Sept 2008. The posts are there on the ZVD thread on the hater's board.

Employment level:
April 2010: 139.296
April 2013: 143.579 = 3% increase over 3 years

Civilian noninstitutional population
April 2010: 237.329 million
April 2013: 245.175 million = 3.3% increase over 3 years

Civilian Employment-Population Ratio:
April 2010: 58.7%
April 2013: 58.6%

So far as the labor force participation rate, the labor force is growing very slowly due to demographics, not because the recovery is fake. That is why the labor force participation rate falls. The labor force has grown by a million in the past 3 years. Population has grown by 8 million.

Employment: A decline in the participation rate was expected due to the aging population
http://www.calculatedriskblog.com/2012/ ... ation.html

"The employment - population ratio is not growing because the population is growing faster than the population." Yeah, that makes sense!

Also, you're comparing #s from 2010-2013. Not what you should be comparing, which are #s from 1979-2013. Not only that but Baby Boomers retiring is only a small PART of the reason why the Employment Rate (which IS the Labor Force Participation Rate ) is THE lowest it's been since May of 1979. Anyone here with a brain knows the REAL reason why it's that low. The Employment Rate is NOT growing, moron.

Lastly, not even ONE quote or statement above that you've posted disproves ANYTHING I've stated. But keep posting away, it's always quite the entertaining show...

You said the economy would collapse within 5 months. You said it 6 months ago. You said to buy gold when it was 1728. It's now 1469, down 15% in 6 months.

You got it wrong and there is not a fucking thing you can do about it.

You are getting your economic analysis for anarchists who simply hate govt and so long as govt is involved in the economy, they have no choice but to predict doom. You don't follow economic news so you think they are onto something. If the economy was growing at 7% and at full employment, people like Peter Schiff and ZERO Hedge would still predict imminent collapse. They have no choice but to say that because of their ideology.

Bull-fucking-shit. I get much of my info from trustworthy people who PREDICTED the Housing Bubble Crisis 10 years ago (when everyone else was laughing at them for suggesting the Housing Bubble even existed), the drastic increase in Gold and several other world events that have HAPPENED.

And where did I state that the economy was going to collapse in 5 months?! I said it would by the end of Obama's second term, which is by 2016.