Friday, June 01, 2012

Not the report we were looking for.

69,000 net new non-farm jobs in May. The prediction was for a relatively weak 150,000 and we didn't get to half of that!

April's number was revised down from 115,000 to 77,000 and March was revised down from 154,000 to 143,000.

To put all this in perspective, we should be seeing numbers around or over 250,000 per month in an "normal" recovery.

YIKES!


3 comments:

Anonymous said...

This opinion article from the New York Times has the answer. We need to decrease productivity to lower unemployment. http://www.nytimes.com/2012/05/27/opinion/sunday/lets-be-less-productive.html

kebko said...

I was surprised to see that the author of that article was a credentialled economist. How will people ever stop believing silly things like that productivity comes from working people harder or that markets are synonymous with shallow materialism if they learned it from economists in the NewYork Times? It would be nice to just laugh that silliness off, but people who buy into it don't mind enforcing it at the barrel of a gun. Never one they would hold in their own hands, of course.

Lead For Sale said...

But first they have to wait and pray for the dinars to jump in value at least 10 times for them to merely recover their money back. By the way it looks now this sudden jump in value is not going to happen. Not today, not tomorrow, and neither in a month from now. It could happen in 3 years. Or 5 years. Or never.

Iraqi Dinar