Vehicle: 1985 500SEC, 1991 190E 2.6 (50k original miles)
Location: Los Angeles
Posts: 9,920
Quote:
Originally Posted by Jayhawk
Anyone can find weak spots; even in a booming economy. As you yourself keep saying there are many sectors and sub-sectors of the economy. You seem to spend all your time searching out those that have any hint of a downturn.
The labor market may be weak, but that doesn't necessarily mean the US economy is in a recession or on the verge of one.
Today's nonfarm payrolls report defied expectations for a modest gain by showing a decline of 17,000 in January – the first decline in 52 months of solid job growth. But the unemployment rate also declined, easing to 4.9% from 5%, despite predictions it would either be unchanged or edge up.
The usually important payroll and jobless data has taken on even more significance because the labor market is considered the most reliable indicator of a recession. In early January, when the government reported that the jobless rate jumped to 5% from 4.7% in December, it set off recession alarms because the rate was more than half a percentage point higher than the low during the expansion phase of the economic cycle.
The labor market may be weak, but that doesn't necessarily mean the US economy is in a recession or on the verge of one.
Today's nonfarm payrolls report defied expectations for a modest gain by showing a decline of 17,000 in January – the first decline in 52 months of solid job growth. But the unemployment rate also declined, easing to 4.9% from 5%, despite predictions it would either be unchanged or edge up.
According to the Bureau of Labor Statistics we have a 145,700,000 nonfarm payroll workforce in America.
According to this little story we dropped 17,000 jobs.
The unemployment rate changed from 5% to 4.9%
With 145.7M workers/unemployed:
5% unemployment is 7,285,000
4.9% unemployment is 7,139,300
145,700 people wandered "off the books" from the looks of this report [and verified by BLS] since they did not show up in "NEW JOBS" or any other category.
So besides the -17,000 NEW unemployed folks, it looks like another 145,700 finished up their 26 weeks of unemployment insurance and did not get rehired. So the Net-Net for the month is actually -162.700
Vehicle: PM me to Join the Expat Muslims for Obama Club........
Location: Jakarta, Indonesia
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^^^^Bear you are bad man, keep this up and Jay will come to Lexington and take away your calculator...............
__________________
"France has neither winter nor summer nor morals. Apart from these drawbacks it is a fine country. France has usually been governed by prostitutes." ---Mark Twain
According to this little story we dropped 17,000 jobs.
The unemployment rate changed from 5% to 4.9%
With 145.7M workers/unemployed:
5% unemployment is 7,285,000
4.9% unemployment is 7,139,300
145,700 people wandered "off the books" from the looks of this report [and verified by BLS] since they did not show up in "NEW JOBS" or any other category.
So besides the -17,000 NEW unemployed folks, it looks like another 145,700 finished up their 26 weeks of unemployment insurance and did not get rehired. So the Net-Net for the month is actually -162.700
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