Page 1 of 3 123 LastLast
Results 1 to 10 of 29

Thread: US economy added 69K jobs in May, fewest in a year

  1. #1
    Guru
    Samhain's Avatar
    Join Date
    Sep 2011
    Location
    Northern Ohio
    Last Seen
    12-16-17 @ 12:34 PM
    Lean
    Libertarian
    Posts
    3,888

    US economy added 69K jobs in May, fewest in a year

    US economy added 69K jobs in May, fewest in a year - Yahoo! Finance

    WASHINGTON (AP) -- U.S. employers created 69,000 jobs in May, the fewest in a year, and the unemployment rate ticked up. The dismal jobs figures could fan fears that the economy is sputtering.

    The Labor Department also says the economy created far fewer jobs in the previous two months than first thought. It revised those figures down to show 49,000 fewer jobs created. The unemployment rate rose to 8.2 percent from 8.1 percent in April, the first increase in 11 months.
    Glad I re-organized my 401k earlier this week into less volatile options.

  2. #2
    I'm not-low all the time
    Kushinator's Avatar
    Join Date
    Jan 2006
    Location
    West Loop
    Last Seen
    Yesterday @ 10:20 PM
    Gender
    Lean
    Independent
    Posts
    16,263

    Re: US economy added 69K jobs in May, fewest in a year

    A couple things to note.

    Weak employment numbers in combination with falling prices for all items less food and energy will likely push monetary authorities into another round of quantitative easing. The yield on the 10 year note is approaching the lows it hit in the days leading up to WWII, which is an indicator that money managers are bracing for rough times ahead. Economic slowdown in the Eurozone (Austerity!) does not bode well for manufactures on a global scale. There is evidence of a general contraction coming out of China, although there have been skeptics that point to the over-optimism that tends to flow from Beijing.

    A recession will most likely emerge in the U.S. without monetary and fiscal stimulus in 2012.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  3. #3
    Skeptical Optimist
    Rhapsody1447's Avatar
    Join Date
    Aug 2006
    Last Seen
    09-20-17 @ 02:57 PM
    Gender
    Lean
    Very Conservative
    Posts
    1,510

    Re: US economy added 69K jobs in May, fewest in a year

    Quote Originally Posted by Kushinator View Post
    A couple things to note.

    Weak employment numbers in combination with falling prices for all items less food and energy will likely push monetary authorities into another round of quantitative easing. The yield on the 10 year note is approaching the lows it hit in the days leading up to WWII, which is an indicator that money managers are bracing for rough times ahead. Economic slowdown in the Eurozone (Austerity!) does not bode well for manufactures on a global scale. There is evidence of a general contraction coming out of China, although there have been skeptics that point to the over-optimism that tends to flow from Beijing.

    A recession will most likely emerge in the U.S. without monetary and fiscal stimulus in 2012.
    Except prices aren't falling. Let's get real, there will be no directed fiscal stimulus in 2012, and a recession in the US before year-end is highly unlikely. The only catalyst for such an event would be a dramatic event in Europe (e.g. banking/bond collapse in Spain) and would not hinge on whether more stimulus is passed in the United States. A sterilized QE3 has been expected for awhile, and there is little chance for an unsterilized QE in an election year while rates are low and prices are rising. The only real threat of recession is the fiscal cliff in 2013. Frankly, these job numbers are unsurprising as the affect of excessive seasonal adjustments are finally wearing off.
    Last edited by Rhapsody1447; 06-01-12 at 10:46 AM.
    "There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes." ~Dalio

  4. #4
    I'm not-low all the time
    Kushinator's Avatar
    Join Date
    Jan 2006
    Location
    West Loop
    Last Seen
    Yesterday @ 10:20 PM
    Gender
    Lean
    Independent
    Posts
    16,263

    Re: US economy added 69K jobs in May, fewest in a year

    Quote Originally Posted by Rhapsody1447 View Post
    Except prices aren't falling. Let's get real, there will be no directed fiscal stimulus in 2012, and a recession in the US before year-end is highly unlikely. The only catalyst for such an event would be a dramatic event in Europe (e.g. banking/bond collapse in Spain) and would not hinge on whether more stimulus is passed in the United States. A sterilized QE3 has been expected for awhile, and there is little chance for an unsterilized QE in an election year while rates are low and prices are rising. The only real threat of recession is the fiscal cliff in 2013. Frankly, these job numbers are unsurprising as the affect of excessive seasonal adjustments are finally wearing off.
    The CPI was flat in April which is to be expected as fuel prices continue to move lower. However, it will be interesting to see where prices for items less food and energy end up in mid June, when CPI numbers for May are released. Also, a sterilized QE is not QE by definition alone (sterilization keeps excess reserves constant).
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  5. #5
    Sage

    Join Date
    Oct 2011
    Last Seen
    07-25-17 @ 12:35 AM
    Gender
    Lean
    Libertarian - Right
    Posts
    5,878

    Re: US economy added 69K jobs in May, fewest in a year

    Figuring at some point today it will be ‘Bush’s fault’…uh, wait one…:


    “Problems in the job market were long in the making and will not be solved overnight”

    The Employment Situation in May | The White House

    That didn’t take long…

  6. #6
    Guru

    Join Date
    Aug 2011
    Location
    In a Blue State
    Last Seen
    Today @ 09:13 AM
    Gender
    Lean
    Libertarian
    Posts
    4,734

    Re: US economy added 69K jobs in May, fewest in a year

    I don't think it is going to take a dramatic event to push us into another recession. I think continued marginal economic inpacts will be the catalyst for our next recession. There will be no big dot com blow up or asian financial crisis. It will be crippled recovery throughout the world.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

  7. #7
    Banned
    Join Date
    Oct 2009
    Last Seen
    08-14-12 @ 11:44 PM
    Gender
    Lean
    Libertarian
    Posts
    3,928

    Re: US economy added 69K jobs in May, fewest in a year

    Quote Originally Posted by Dickieboy View Post
    Figuring at some point today it will be ‘Bush’s fault’…uh, wait one…:


    “Problems in the job market were long in the making and will not be solved overnight”

    The Employment Situation in May | The White House

    That didn’t take long…
    But any good news about the economy and Bush's name is never mentioned.

    Funny how that works.

  8. #8
    I'm not-low all the time
    Kushinator's Avatar
    Join Date
    Jan 2006
    Location
    West Loop
    Last Seen
    Yesterday @ 10:20 PM
    Gender
    Lean
    Independent
    Posts
    16,263

    Re: US economy added 69K jobs in May, fewest in a year

    Quote Originally Posted by dontworrybehappy View Post
    But any good news about the economy and Bush's name is never mentioned.

    Funny how that works.
    Let's see how much fun you have defending the "victim of circumstance" argument. :-)
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  9. #9
    Sage

    Join Date
    Oct 2007
    Location
    New York
    Last Seen
    12-13-17 @ 12:40 PM
    Gender
    Lean
    Centrist
    Posts
    11,691

    Re: US economy added 69K jobs in May, fewest in a year

    Quote Originally Posted by Rhapsody1447 View Post
    Except prices aren't falling.
    We're currently in a period of disinflation. Increases in prices are decelerating, as the U.S. economy and some major international economies are decelerating (some have moved back into recession). Certain prices have begun to fall e.g., commodities prices.

    Let's get real, there will be no directed fiscal stimulus in 2012, and a recession in the US before year-end is highly unlikely. The only catalyst for such an event would be a dramatic event in Europe (e.g. banking/bond collapse in Spain) and would not hinge on whether more stimulus is passed in the United States. A sterilized QE3 has been expected for awhile, and there is little chance for an unsterilized QE in an election year while rates are low and prices are rising. The only real threat of recession is the fiscal cliff in 2013. Frankly, these job numbers are unsurprising as the affect of excessive seasonal adjustments are finally wearing off.
    Averting the fiscal cliff will require renewal of significant portions of tax-side stimulus packages that were adopted in 2001 and 2003, among some other changes. Also, he didn't necessarily predict new rounds of fiscal and monetary policy stimulus. He suggested that a recession would "most likely emerge in the U.S." without such stimulus.

    If I were to venture a guess, the Fed will not change its interest rates (repeatedly indicated by the Fed) and would probably try another "Operation Twist"-type arrangement rather than full-fledged quantitative easing if things remain on the current trajectory. Additional significant deterioration in Europe and the threat of spillovers/contagion would likely lead the Fed to take additional action that could include QE3, substantial swap agreements to assure liquidity in U.S. and international markets, temporary facilities, and other coordinated measures with the ECB and perhaps other international central banks. The recent notable deceleration in Chinese growth offers another possible macroeconomic shock, but developments in Europe appear to have the greatest possibility of triggering more aggressive monetary policy stimulus.


    In terms of fiscal policy, 2012 campaign dynamics preclude any additional meaningful fiscal stimulus. I also expect that the U.S. will largely avoid the "fiscal cliff," but there will likely be no meaningful medium-term fiscal consolidation. Some smaller stimulative measures might be considered e.g., another renewal of the current reduced payroll tax rates, but those measures would likely be modest and relatively insignificant overall in macroeconomic terms.

  10. #10
    Sage
    Kreton's Avatar
    Join Date
    Apr 2011
    Location
    Colorado Springs
    Last Seen
    11-13-17 @ 08:01 PM
    Gender
    Lean
    Other
    Posts
    6,118

    Re: US economy added 69K jobs in May, fewest in a year

    US economy added 69K jobs in May, fewest in a year - Yahoo! Finance
    “Most people do not listen with the intent to understand; they listen with the intent to reply.”
    Stephen R. Covey


Page 1 of 3 123 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •