Metal Sludge Gossip Board

If some were celebrating a 0.1% drop in the unemployment rate, then those same people must be freaking the fuck out over the 0.1% increase in unemployment.





World growth at risk as U.S. employment stumbles
http://www.reuters.com/article/2012/06/ ... JM20120601



Grim Job Report Sinks Markets
Employers added a seasonally adjusted 69,000 jobs last month, the smallest increase in a year, and estimates for the two previous months were lowered. The politically salient unemployment rate inched up to 8.2% from 8.1% in April, and the report immediately became a flash point in a presidential race focused on the candidates' job-creating credentials. President Barack Obama and Republican nominee Mitt Romney sparred over the numbers in back-to-back appearances where each made his case to voters
http://online.wsj.com/article/SB1000142 ... geHeadline


Stocks Log Worst Day in 2012; Vix Surges 10%
http://www.cnbc.com/id/47645265


This Summer an 'Eerie Echo' of Pre-Lehman: Zoellick
http://www.cnbc.com/id/47639849

brotherplanet wrote:If some were celebrating a 0.1% drop in the unemployment rate, then those same people must be freaking the fuck out over the 0.1% increase in unemployment.

LMFAO, there you go with your strawman. Who was "celebrating" a drop of .1%? A change in .1% is called "essentially unchanged."

From the Employment Situtation Summary:
http://www.bls.gov/news.release/empsit.nr0.htm
Nonfarm payroll employment changed little in May (+69,000), and the unemployment rate was essentially unchanged at 8.2 percent, the U.S. Bureau of Labor Statistics reported today.

The market fell because the report was worse than expected, not because it was "hell day." Two million jobs have been added to the private sector since May 2011.

May 2011: 109.097 million employed in the private sector
May 2012: 111.040 million employed in the private sector

http://data.bls.gov/timeseries/CES0500000001

More from the BLS report. As has been pointed out to you, the housing bubble correction continues to be a drag on the economy. The only area that saw job losses was construction:

Employment increased in health care, transportation and warehousing, and wholesale trade but declined in construction. Employment was little changed in most other major industries.

Now to turn the thread around on you, if you made a big deal out of a decline in the abor force participation rate last month, then you should be celebrating now. The participation rate increased and offset last's months decline which you made a big deal about.

The civilian labor force participation rate increased in May by 0.2 percentage point to 63.8 percent, offsetting a decline of the same amount in April.

Here is your post:
viewtopic.php?f=5&t=269109&p=5603242&hi ... e#p5603242

brotherplanet wrote:The flip side, and the reason why the unemployment dropped to 8.1% is that the labor force participation rate just dipped to a new 30 year low of 64.3%.

Labor force participation Rate:

=================

Ow, brotherplanet. You are just no good at this.

All the charts and graphs in the world can't make this jobs report look good. Hopefully things will start to look up soon.

FullMetalWhackit wrote:All the charts and graphs in the world can't make this jobs report look good. Hopefully things will start to look up soon.

You're absolutely right. All of those articles I linked to are from the upper right corner of the image I posted and none of them back up those graphs and charts.

I'd love for the economy to turn around. Hell, I might even be able to hold my nose and vote for Obama again (the NDAA is what turned me fully against him, but since Romney would have signed it as well, it's a lesser of two very evils we're going for here).


I do though love the graph joey posted above, which came from the same place that gave us this headline...

Zombie Apocalypse Real-Time Tracker, Disaster Preparedness Simulation And Dispatch Form
http://www.zerohedge.com/

And that came from the same guy whose dick danzig can't stop sucking???


Hysterical!!!