Ignore the Latest Job Reports

longknife · May 6, 2016

We'll start with 94 million American not on the job rolls. Aren't there only 300M +or-? Check these stories out:

Prime Aged Workers Tumble By 280K, Workers 55 And Over Surge To New All Time High @ http://www.zerohedge.com/news/2016-...k-workers-55-and-over-surge-new-all-time-high

562,000 Workers Drop Out Of The Labor Force As Participation Rate Resumes Drop @ http://www.zerohedge.com/news/2016-...t-labor-force-participation-rate-resumes-drop

Payrolls Miss Huge: April Jobs Rose Only 160K, Below 200K Expected; Unemployment Rate At 5% @ http://www.zerohedge.com/news/2016-...-160k-below-200k-expected-unemployment-rate-5

Where The April Jobs Were @ http://www.zerohedge.com/news/2016-05-06/where-april-jobs-were

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2016/04/20/jobs breakdown_0.jpg

June Rate Hike Odds Collapse To Record Lows - Market Prices In No Hikes Through Feb 2017 @ http://www.zerohedge.com/news/2016-...-lows-market-prices-no-hikes-through-feb-2017

Since 2014 The US Has Added 450,000 Waiters And Bartenders, And No Manufacturing Workers @ http://www.zerohedge.com/news/2016-...s-and-bartenders-and-no-manufacturing-workers

And I'm sure there are a whole lot of similar stories out there.

waltky · Jun 3, 2016

Sharp slowdown in US job creation...

US job creation in May falls to lowest in five years
Fri, 03 Jun 2016 - US job creation in May fell to its lowest level in more than five years, a sign of economic weakness that may limit the Fed's ability to raise interest rates soon

The Labor Department said that employers added just 38,000 jobs last month, the fewest since September 2010. The jobless rate fell to 4.7% from 5%, the lowest since November 2007. But this was partly due to people dropping out of the labour force and no longer being counted as unemployed. The government said a month-long Verizon strike had depressed employment growth by 34,000 jobs. The strikers would have been considered unemployed and counted in the figures. But even without the Verizon strike, non-farm payrolls would have increased by just 72,000.

Job seekers in US

The goods producing sector, which includes mining and manufacturing, shed 36,000 jobs, the most since February 2010. Janet Yellen, chairwoman of the Federal Reserve, has hinted that interest rates could rise soon if US jobs growth picks up. Ian Shepherdson, of Pantheon Capital, said the chances of June rise were now "dead", while the prospect of a July rise was "badly wounded".

'Bad, bad, bad'

The dollar immediately weakened after the data was released as investors speculated that a rate rise this month was unlikely. The main share markets opened down, led by a 0.6% fall in the S&P 500. Mohamed el-Erian, chief economic adviser to Allianz, said "this unusual jobs report puts the Fed in a tricky position".

Analysis: Andrew Walker, BBC World Service economics correspondent
Click to expand...

waltky · Jul 9, 2016

One step forward, two steps backward...

BLS: Employed Up 67,000 in June; Unemployed Up 347,000
July 8, 2016 | The civilian labor force expanded in June, adding 414,000 people, the Bureau of Labor Statistics reported today.

The number of employed people increased by 67,000 to 151,097,000 in June, but the number of unemployed people increased even more, by 347,000 to 7,783,000. The unemployment rate ticked up two-tenths of a point to 4.9 percent. BLS said 94,517,000 Americans were not in the labor force in June, a slight improvement from May's record 94,708,000; and after dropping for three straight months, the labor force participation rate increased a tenth of a point to 62.7 percent in June. In September 2015, the labor force participation rate hit 62.4 percent, its lowest point since 1977. So the June participation rate was only three-tenths of a point off its record low. The economy added 287,000 jobs in June, the Labor Department said, a rebound from the extremely weak 11,000 (revised from 38,000) jobs added in May and the revised 144,000 jobs added in April.

In June, according to the Labor Department's Bureau of Labor Statistics, the nations civilian noninstitutional population, consisting of all people 16 or older who were not in the military or an institution, reached 253,397,000. Of those, 158,880,000 participated in the labor force by either holding a job or actively seeking one. The 158,880,000 who participated in the labor force equaled 62.7 percent of the 253,397,000 civilian noninstitutional population. Last month, Federal Reserve Chair Janet Yellen told Congress the Fed is keeping a close eye on the labor force participation rate. She said she expects that rate to "continue declining in the coming years because we have an aging population." As baby-boomers retire, "they work less," she noted, even though younger people "participate more."

People who have not actively looked for work in the previous month are not counted as participating in the labor force. Yellen told Congress that "a sign of a strengthening labor market is to see people who were discouraged brought back into the labor force." The Bureau of Labor Statistics counted 5,692,000 people in June as "persons who currently want a job," down from the 5,923,000 in May. Yellen was asked last month why workers are not being hired for those millions of available jobs: "There are an enormous number of job openings, and there is a certain degree of mismatch of workers who are looking for work with the job openings that are available," Yellen said.

She pointed to the shift from unskilled workers to the demand for skilled labor. "The consequence of that has been rising inequality, a high return to education and downward pressure on the wages of those who are less skilled and middle income." Yellen stressed the need for "education and training, perhaps apprenticeships of the type that are used in some European and other countries -- these are ideas that really have to be considered" to boost wages and incomes, she said.

http://www.cnsnews.com/news/article/susan-jones/economy-adds-jobs-june
Click to expand...

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Ignore the Latest Job Reports

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