Unemployment Report

JunkTop
JunkTop

Only 38k new jobs added in May.

Would have only been 78k if Verizon workers weren't on strike.

What is going on?

All urls found in this thread:

bloomberg.com/news/articles/2016-06-03/employers-in-u-s-add-38-000-workers-fewest-in-almost-six-years
theguardian.com/commentisfree/2013/may/04/adp-forecasting-monthly-bls-jobs-reports

Stupidasole
Stupidasole

Verizon workers are on strike

Lunatick
Lunatick

We're still waiting for 2008 Recession: Part Deux to hit.

None of the fundamental problems that caused the 08 recession were really fixed, they were (literally) papered over.

Most of the jobs lost were good paying and full time. Most jobs gained since are part time wage slave bullshit.

In propping up the flawed system, they've prolonged the malaise and may even make it a depression instead of the recession it could have been.

Lord_Tryzalot
Lord_Tryzalot

It's a good sign. It means more neet millionaires are being made.

askme
askme

Verizon workers are on strike
They were expecting 100k.
Where did the 22 thousand go?

kizzmybutt
kizzmybutt

Would have only been 78k if Verizon workers weren't on strike.

They hired nearly 20,000 temporary workers.

Yet temp workers fell in this report.

This is a shitty excuse.

Gigastrength
Gigastrength

No wtf

Why is Veeky Forums still shit? I've bern gone for 5 months and nothing changed.

Fuck

Harmless_Venom
Harmless_Venom

Can someone explain to me why the Verizon workers would have affected this figure?

Wouldn't these workers only count toward the total unemployment, and not newly created jobs?

cum2soon
cum2soon

The government heavily fudges its numbers for unemployment and "jobs creation"

askme
askme

the bubble is about to burst, if you have gold stocks watch'em

Carnalpleasure
Carnalpleasure

watch them go up or down?

Sir_Gallonhead
Sir_Gallonhead

stfu. lowest estimations were 95k, average was 130k.

If we compare it with unemployment, we can see a large number of people exiting the system. This is bad news.
Consomption numbers are at an all year high but can be justified by gaz price and chinese investment in the housing market.

StrangeWizard
StrangeWizard

No. The average was fucking 160-166k.

This is why I'm done with Veeky Forums.

Also, your post said 100k here

Verizon hired nearly 15,000 temporary workers.
Meanwhile, temp worker numbers fell dramatically.

This only accounts for 15,000 of the jobs, at most.

Furthermore, the previous two months were revised down a total of 67,000 jobs.

Stupidasole
Stupidasole

lowest estimations were 95k, average was 130k.

It's amazing how easily you can shitpost lies.

bloomberg.com/news/articles/2016-06-03/employers-in-u-s-add-38-000-workers-fewest-in-almost-six-years
The median forecast in a Bloomberg survey of economists called for a 160,000 gain in May employment. Estimates of 90 economists ranged from job gains of 90,000 to 215,000 after an initially reported 160,000 increase in April. Revisions to prior reports subtracted a total of 59,000 jobs from payrolls in the previous two months.

idontknow
idontknow

"We wuz raising interest rates n shit."

-broke white man-

Carnalpleasure
Carnalpleasure

Gold and silver mining stocks should skyrocket if the jobs numbers continue to look so terrible. This is because the Federal Reserve will be inclined to keep the funds rate at 0.50% instead of raising it.

The Fed is very likely to stay pat this coming week, which should make gold and silver mining stocks go up as well as U.S. Treasury bonds (TLH and TLT could see a 2% pop).

Evilember
Evilember

Monetarists are starting to contradict themselves in an attempt to influence an already inelastic market.

Its fed mind games, after this "shock" banks went up for the first time in 2 weeks. Oil was supposed to rise too, but OPEC meeting distorted the situation.

Playboyize
Playboyize

Why did ADP report 173K private sector jobs added in May? I know that there are usually big discrepancies between the government and ADP data, but this just seems so far off.

Techpill
Techpill

keynesian itself has never worked since it's inception

and it never will

Methshot
Methshot

Notice how the dollar dipped but dow was already starting to shoot back up. There will be rate hike too, so usd will shoot up too, dow will shoot up pretty much in every scenario

Methnerd
Methnerd

yus it true. doom and gloom.
we need socialist revolution
muh greedy CEOs to blame
lets raise taxes kthxbye

PackManBrainlure
PackManBrainlure

There will be rate hike too
hahaha... oh wait, ur serious?

yea, buy USDU tmr, see how that goes
good luck user

likme
likme

ADP has reported a 150,000 added job average since 2013.
US BLS has reported about 210,000 added job average since 2013.

ADP reports are generally less volatile and more accurate in my view.

Hence, it's very likely the BLS has been consistently making a counting error in its estimate of jobs added every month since 2013.
Revisions in 2015 subtracted nearly 300,000 jobs from job growth in 2013-2014.

The government shills for itself. Go figure.

Deadlyinx
Deadlyinx

theguardian.com/commentisfree/2013/may/04/adp-forecasting-monthly-bls-jobs-reports

Tl;dr ADP is on average 40,000 jobs off.

And in some months is nearly 100,000 jobs off.

Generally, ADP reports lower numbers than the BLS reports in its final report.

Nonetheless, barring a complete fuckup by the BLS, it's very likely that ADP is off this time. They may have left in the Verizon workers, and also counted in the temporary workers for the strike. Double counting.

viagrandad
viagrandad

look at TBT
if it goes up, rates are going up
vice versa

haveahappyday
haveahappyday

i believe <insert shit opinion here>

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