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| User Info | September Unemployment: ACTUAL LOSS 995k in forum [Ticker] | |||
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Genesis Posts: 71430 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/1485-S....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-10-02 08:51:45
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Amgrace Posts: 1304 Incept: 2008-02-15 
New Castle, PA 16101 Online
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U6 was 17.0, up from 16.8
---------- "In an informal survey at a recent meeting of 150 or so institutions, those admitting to feeling nervous about underexposure to risk outnumbered those feeling too aggressive by a neat 10 to 1! This also suggests how a speculative rally can keep going longer than reasonable investors expect." - Jeremy Grantham 07/2009
2009-10-02 09:02:20
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Jackl Posts: 678 Incept: 2008-01-17
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As usual, padding the numbers, trying to keep the illusion of recovery there. Extend and pretend can't keep up with these losses. A second deluge of government money is required to paper over the gaping hole of funding and jobs.
2009-10-02 09:03:27
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Fugitivekind Posts: 613 Incept: 2007-08-20
Boston
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Any bets for U6 by the end of the first quarter 2010? 20 doesn't seem unreasonable. When the holiday season is a bust I can see retailers slashing jobs left and right.
---------- "I refuse to leave our children with a debt they cannot repay, and that means taking responsibility right now, in this administration, for getting our spending under control." Barack Obama, Feb. 29, 2009
2009-10-02 09:04:37
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Goldbrick Posts: 1605 Incept: 2008-01-23 
Indiana
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Lie & Deny isn't working so hot for the gummint anymore.
---------- "The higher I go, the crookeder it gets." --Michael Corleone
2009-10-02 09:12:44
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Froghat Posts: 213 Incept: 2009-01-28 Banned
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better than expected!
2009-10-02 09:12:46
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Jinroh Posts: 647 Incept: 2009-05-05 Room 101
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Quote:Employed: 140,074 down to 139,079 this month. Karl,shouldn't the #'s above read 140,074,xxx, and 139,079,xxx ? I mean for it to equal a loss of 995,000 jobs ? Or am I reading wrong here? ---------- Constitution Class taught by Michael Badnarik : http://www.archive.org/details/Michael_Badnarik I say we take off and nuke the entire site from orbit. It's the only way to be sure.
2009-10-02 09:21:32
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Sierraboy Posts: 1329 Incept: 2007-06-26
San Diego, CA
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he said the numbers were in thousands
2009-10-02 09:22:10
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Genesis Posts: 71430 Incept: 2007-06-26
KD^2
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Read again: I said the numbers were in thousands...
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-10-02 09:22:42
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Hp12c Posts: 29 Incept: 2009-06-03
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You forgot to add hours worked dropped from 33 hours vs. 33.1. Good bye the "V" shaped recovery hypothesis...
2009-10-02 09:31:21
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Karlmarxghost Posts: 2640 Incept: 2009-01-26
Stealing Your Property
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Quote:Lie & Deny Hehe that's just as good as extend and pretend. I guess I shouldnt be laughing... its sad when our government has to use false accounting standards in a free and open society. ---------- My views are my view and mine alone. Karl or ticker forum does not endorse or necessarily agree with my views. DO not trade on my views or take them personally.
2009-10-02 09:31:30
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Cjworkman Posts: 5614 Incept: 2007-08-22
Online
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it's bad... but not THAT bad... a lot of the roll off is baby boomers deciding to live off what they do still have saved up for retirement. I've seen this first hand in my wifes parents. They don't have enough to retire forever.. but they are "retired" right now. not sure what that means for the future of baby boomers retirements though,.. i'm sure it's not good. but don't get me wrong.. the numbers are still really bad. ---------- Ben is going to create an equity bubble from excess liquidity that tops at 1200... and bottoms at 300. A bubble inside of bearish economic conditions, so that it never reaches new market highs and crashes far below the lows. - me
2009-10-02 09:32:55
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Genesis Posts: 71430 Incept: 2007-06-26
KD^2
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CJ if you "retire" in this fashion you have to sell ASSETS to live. That's not going to work real well for the markets either!
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-10-02 09:33:49
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Oldanalyst Posts: 786 Incept: 2007-09-15
NY, Chi
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excellent ticker
---------- "There are no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved." Ludwig von Mises.
2009-10-02 09:34:41
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Cjworkman Posts: 5614 Incept: 2007-08-22
Online
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Karl, That's true... just saying a good percentage of that very large roll off number is semi-retired boomers. not dire straights living in a box people. however.. those "retirees" are not going to be spending a lot either... might as well be living in a box people as far as contribution to the economy. ---------- Ben is going to create an equity bubble from excess liquidity that tops at 1200... and bottoms at 300. A bubble inside of bearish economic conditions, so that it never reaches new market highs and crashes far below the lows. - me
2009-10-02 09:40:22
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Aja Posts: 2209 Incept: 2008-03-19
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Forgive me for my Friday a.m. density -- why are the numbers different (almost a million versus around 300k)? CNBS not mentioning the 995k number (of course)
2009-10-02 09:40:39
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Jocknomore Posts: 84 Incept: 2009-01-03 Chicago Online
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My brother is one of those off the list. Worked for Hewlett Packard for over 20 years and bringing in about $140,000/ year. 2.5 years ago laid off and has worked two poor jobs trying to sell storage systems for small companies. Laid off there to. His UE ran out two weeks ago after a full 79 months worth. Two kids with ex-wife in college (has to pay for it by court decree) two kids with current wife (one with Bardet Beidle Syndrome) a big mortgage, tapped all of his retirement savings and is hitting the IRA and 401k with little more than 6 months to exhaustion. He is not unemployed per .gov.
2009-10-02 09:41:56
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Rbarreira Posts: 1429 Incept: 2009-05-27 Sweden
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Jocknomore not to insult your brother, but if I made $140,000 a year I sure as hell wouldn't be out of money in 2 or 3 years even if my income was suddenly cut to zero.
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2009-10-02 09:48:22 by rbarreira
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Trades50 Posts: 1143 Incept: 2007-10-30
IL Online
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Like in 2001 their promoting education as a solution. Musical chairs. Fewer jobs. Now they will throw more money at the problem. CNBC is talking about a second stimulus. Natural market forces at work. Their plan is to keep throwing money at the problem. Wonder what their economic mathematical model looks like now? So much for the FDIC stress test. ---------- Labor for the Globalist: World Class means Third World Class.
2009-10-02 09:50:58
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Widgeon Posts: 6525 Incept: 2007-08-30
OK
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But if they can get you sign up for $30-50k or whatever of student loans the pigs win again. That's one of the "things" they are counting on.
2009-10-02 09:52:52
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Genesis Posts: 71430 Incept: 2007-06-26
KD^2
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Aja: Follow the link in the Ticker, look for the HOUSEHOLD SURVEY. Its about 2/3rds of the way through the PDF. This is an ACTUAL SURVEY of people and thus counts things like the small businessman who goes under, etc - where the establishment survey DOES NOT. There you will find the participation rate, number in workforce, etc. When given a choice always go with the ACTUAL COUNTS. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-10-02 09:53:50
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Bsr101 Posts: 12 Incept: 2008-12-21
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CJ, This is strictly anecdotal but to provide a counterpoint to your observation. I've been unemployed since March. The year before that was all contract work. Around here me and my friends (ages from early 20s to mid 40s) spend our time looking for work and hunting. We're hunting to put food on the table. It's not a hobby any more. Most of us have already had benefits run out and out living with parents or friends. Every time I pull in the gas station guys who should be working are asking each other who is hiring. Mostly blue collar but I'm degreed, certified in several areas of IT expertise and I can't get an interview. As soon as my UE runs out I'll be looking at one of those $8.50 an hour jobs and trying to figure out how to keep food on the table and a roof over our heads. Our savings was supposed to be a down payment for a house but we're afraid to touch it (and yes, it's in a credit union). Everywhere I look here in town are signs of people who should be working, but are hanging out, a lot as has been said simply given up. There's too much drinking and smoking (poor man's valium), crime and vandalism are up, and from my non-scientific survey of the alley behind my house drug use is up. If I wasn't allergic to jail I'd seriously consider growing pot right now. I read the job report on MSN this morning and go between wanting to strangle Bernanke over his casual wave-off and having a panic attack as I won't be keeping my head above water for another 6 months. The view from the street for what it's worth. I know this is the MArket Ticker but I come here to learn about the Market and what the bankers and pols are doing. I don't have any insights there to offer. Thanks to all of you who keep explaining things and thank you Karl.
2009-10-02 09:55:15
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Jinroh Posts: 647 Incept: 2009-05-05 Room 101
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Sorry,did not see that.Still I think it might be better to list it in the millions,as J6P reading/skimming the article might make the same mistake. Or,at least the numbers there,might not have the same impact versus if they were listed in the millions.Ie: with a few more zeros,to more easily get peoples attention. Just a humble suggestion.Great ticker as always. ---------- Constitution Class taught by Michael Badnarik : http://www.archive.org/details/Michael_Badnarik I say we take off and nuke the entire site from orbit. It's the only way to be sure. Last modified:
2009-10-02 09:57:50 by jinroh
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Ggg71 Posts: 27 Incept: 2009-06-03 Swampscott, MA
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JockNoMore - Additional unemployment benefits fell one vote short in the Senate this week, although John Kerry (Democrat-MA) was somewhere goofing off, so they think if they can get him back in the building long enough to register a vote, they can pass an additional 13 weeks of coverage for folks.
2009-10-02 09:57:13
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Mortgageguymn Posts: 182 Incept: 2009-03-09
North Coast
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Rbarreira, Maybe you missed the part about Jocknomore's brother having four kids (incl one handicapped) & 2 wives. ---------- "Neither a borrower nor a lender be." - Harold Hecuba
2009-10-02 09:58:03
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