While all the focus is on Greece and the Dow approaches 13,000 a dose off reality for the USA and the job situation there. The last NFP numbers gave the false perception that things are improving. The new jobs created were called to be 243,000. The UI number was 8.3%
There were many posts made by myself suggesting the numbers were nonsense.
I just read the following article that is as mainstream as you can get about this issue. Gallup is accepted as credible. Without jobs the USA will move towards the Greek Model.
http://www.financialsense.com/contri...o-nine-percent
Snippet:
The U.S. unemployment rate, as measured by Gallup without seasonal adjustment, is 9.0% in mid-February, up from 8.6% for January. The mid-month reading normally reflects what the U.S. government reports for the entire month, and is up from 8.3% in mid-January.
US Unemployment Rate, Monthly Averages
http://imagesize.financialsense.com/...nt-2012-02.png
Gallup also finds 10.0% of U.S. employees in mid-February are working [COLOR=blue !important][COLOR=blue !important]part [COLOR=blue !important]time[/color][/color][/color] but want full-time work, essentially the same as in January. The mid-February reading means the percentage of Americans who can only find part-time work remains close to its high since Gallup began measuring employment status in January 2010.
Snippet:
Regardless of what the government reports, Gallup's unemployment and underemployment measures show a sharp deterioration in job market conditions since mid-January.
BLS Numbers Not Realistic
Gallup only polls those 18 and above while the BLS includes 16 and above. Given teenage unemployment, this would (or at least should) artificially lower unemployment numbers for Gallup. Yet, Gallup is higher, way higher when one considers underemployment.
Fundamental and Mathematical Case for Structurally High Unemployment for a Decade
As I have said many times, the BLS numbers are simply not realistic for many reasons. For further discussion please see ...
There were many posts made by myself suggesting the numbers were nonsense.
I just read the following article that is as mainstream as you can get about this issue. Gallup is accepted as credible. Without jobs the USA will move towards the Greek Model.
http://www.financialsense.com/contri...o-nine-percent
Snippet:
The U.S. unemployment rate, as measured by Gallup without seasonal adjustment, is 9.0% in mid-February, up from 8.6% for January. The mid-month reading normally reflects what the U.S. government reports for the entire month, and is up from 8.3% in mid-January.
US Unemployment Rate, Monthly Averages
http://imagesize.financialsense.com/...nt-2012-02.png
Gallup also finds 10.0% of U.S. employees in mid-February are working [COLOR=blue !important][COLOR=blue !important]part [COLOR=blue !important]time[/color][/color][/color] but want full-time work, essentially the same as in January. The mid-February reading means the percentage of Americans who can only find part-time work remains close to its high since Gallup began measuring employment status in January 2010.
Snippet:
Regardless of what the government reports, Gallup's unemployment and underemployment measures show a sharp deterioration in job market conditions since mid-January.
BLS Numbers Not Realistic
Gallup only polls those 18 and above while the BLS includes 16 and above. Given teenage unemployment, this would (or at least should) artificially lower unemployment numbers for Gallup. Yet, Gallup is higher, way higher when one considers underemployment.
Fundamental and Mathematical Case for Structurally High Unemployment for a Decade
As I have said many times, the BLS numbers are simply not realistic for many reasons. For further discussion please see ...
- Fewer Nonfarm Employees Now Than December 2000; Unemployment Rate: Some Things Still Don't Add Up; Obamanomics?
- Fundamental and Mathematical Case for Structurally High Unemployment for a Decade; Shrinking Job Opportunities and the Jobs Gap; The Real Employment Situation
Source: Global Economic Analysis
Kno's Comments: That is my research for today and now I am off for breakfast. By reading what I read and post you will have an edge on others since you will have information that will let you know when the powers that be give out false information to meet their own agenda.
Have a good relaxing weekend and give your loved ones a hug.