November Snapshot - More Bad News for Team Pelosi
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tieguy
Banned
klein
Für Meno :)
That is because those temporary censor workers (public jobs), went back to unemployment, but the private sector gained 64.000 jobs.
If you didn't pay attention, Wall Street loved that news : Dow up 237 points, and the Nasdaq also up 1.5% on Friday.
Smart investors don't pay attention to fox misleading news !
UpstateNYUPSer(Ret)
Well-Known Member
The private sector actually gained 67,000 jobs.
Where were those censor workers when that boxer went on that profanity-laced tirade on the Internet?
Where were those censor workers when that boxer went on that profanity-laced tirade on the Internet?
tieguy
Banned
was that the edmonton dow? The us dow was up 127. Looks like you weren't paying attention.....again.
tieguy
Banned
thats one of those spin issues where you have to read between the lines. while the private sector added 67000 new jobs around 130,000 new workers entered the job market . thus the unemployment rate went up to 9.6.
job creation is not keeping up with the number of new people entering the job market.
klein
Für Meno :)
No matter what, it's getting harder for you rightwingers to twist good news into bad.
Wait until September numbers come out, and it's very possible by November (with October results), the unemployment will be under 9%.
And ofcourse record company earnings, (you'll even see UPS above $70/share), and probably GM with their new IPO out.
tieguy
Banned
Did you dispute the fact you misstated the dow increase by a 100 points?
Did you dispute the point the workforce is increasing at a greater rate then the creation of jobs?
Nope.
Did you just say the unemployment rate will make a dramatic drop to 9 percent in two months without any supporting data?
yep
you're not talking to cuban children here. You will need to bring more then some pretty beach balls in this venue.
klein
Für Meno :)
ok, it happens, Friday the Dow was "only" over 100 points up, the TSX was over 200.... Thursday it was the other way around.
It's no big deal, the main factor being said, that the stockmarkets acted very positive to the news, that you and Lucy call as negative.
Jobs are being created in the private sector. 67 ooo of them is not a small number, and I admit not enough for a faster rebound, but not sure if 67000 is not enough to keep up the difference of people retiring out of jobs, and new people seeking work.
However, this gets me to your 3rd point. The major new job seekers come available at the end of a school year, not the beginning like September.
That being said, how many thousands of students did find summer jobs and have now left the workforce ? Or atleast not putting in the hrs they were during the summer months.
So, that alone creates new job openings (It's always easier to find work in September, then July or August), combine that with less of the censors being laid off, and a steady job growth, and larger company earnings and sales, it's just logical that unemployment numbers will go down.
Yes, thats my conclusion and my opinion.
Another opinion : Don't bet against the stockmarket in the near future, my prediction Dow over 11000 by mid October.
Oh yeah, don't forgot havest seasons starts for most farms, and the wheat farmers in particular are laying the golden goose this year, with those prices being tripple as much as last year.
To Moreluck with her following comment :
All I can say is : Remember you heard it here first, and from whom.....
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Buddybrown
Well-Known Member
Hey the market has begun September with enthusiasm....I'd be willing to say that this enthusiasm is in large part of what is coming in November...Real CHANGE... Let's face it, a large part of the August swoon wasn't because of the economy, although it was nothing to write home about, but to an overall lack of confidence and the stranglehold that this administration has put on businesses. In other words there is a new HOPE of a big CHANGE in the House and Senate which looks to create a business environment that is actually conducive to companies hiring again! This is what the stock market is excited about....I agree with you an 11,000 or perhaps even a 12,000 DOW is possible....
tieguy
Banned
ummmm ah....sigh...thursday the dow was up 51 points not the other way around.
you're still struggling with the truth yet you want me to believe the rest of your speutum?
tieguy
Banned
Actually kleins logic is a reflection of the games we play these days.
Workforce grows by 130,000. 67000 private sector jobs are added , unemployment rate goes up yet somehow we grew jobs?
Klein tells us the market is going up as if that is a reflection that the economy is somehow improving. In the process Klein forgets to tell us that the market actually crested earlier this year going well over 11 K and that it has since dropped significantly. He then waits for a dead cat bounce to tell us the market is improving.
Klein is an excellent socialism spin doctor.
Hey the market has begun September with enthusiasm....I'd be willing to say that this enthusiasm is in large part of what is coming in November...Real CHANGE... Let's face it, a large part of the August swoon wasn't because of the economy, although it was nothing to write home about, but to an overall lack of confidence and the stranglehold that this administration has put on businesses. In other words there is a new HOPE of a big CHANGE in the House and Senate which looks to create a business environment that is actually conducive to companies hiring again! This is what the stock market is excited about....I agree with you an 11,000 or perhaps even a 12,000 DOW is possible....
Hi Buddybrown and welcome to the BrownCafe!
klein
Für Meno :)
Well, here is what Wall Street had to say, but I suppose you are much smarter then them. So, Tie, sell, sell !!!! hurry !!!
Friday:
Thanks to better-than-expected data, the mood among market participants has improved drastically since August. In turn, September has started three straight gains for a cumulative climb of more than 5%.
Jobs figures for August inspired buyers on Friday. The consensus among economists polled by Briefing.com called for nonfarm payrolls to drop by 120,000 in August, but nonfarm payrolls fell just 54,000 instead. What’s more, private payrolls increased 67,000, which is much stronger than the increase of 44,000 that had been widely expected. Despite the stronger-than-expected statistics, the headline unemployment rate remained steady at 9.6%, as expected.
Encouraging jobs numbers complemented better-than-expected data from earlier in the week, namely upbeat readings on consumer confidence and a strong ISM Manufacturing Index. However, the ISM Service Index for August disappointed this morning. It slipped to 51.5, which is below the 53.0 that had been widely expected.
Though the ISM Service Index invited some profit taking that caused stocks to pare their gains, buyers stepped back in to boost stocks in afternoon trade and help them settle near session highs. Such a bid gave stocks their fourth straight gain, during which time the S&P 500 has advanced 5.3%.
Read more: http://www.nasdaq.com/aspx/market-summary.aspx#LATEST#ixzz0ygdSFRZY
browndevil
Well-Known Member
Hey the market has begun September with enthusiasm....I'd be willing to say that this enthusiasm is in large part of what is coming in November...Real CHANGE... Let's face it, a large part of the August swoon wasn't because of the economy, although it was nothing to write home about, but to an overall lack of confidence and the stranglehold that this administration has put on businesses. In other words there is a new HOPE of a big CHANGE in the House and Senate which looks to create a business environment that is actually conducive to companies hiring again! This is what the stock market is excited about....I agree with you an 11,000 or perhaps even a 12,000 DOW is possible....
As a lifelong voting Democrat I prefer both parties one in the House and the other in the Whitehouse. It forces communiction and results. Having said that, if the GOP takes back both Houses we can kiss the Employee Free choice Act goodbye. Too bad I was hoping that bill would get passed on the hopes of strengthening the middle class.
I too watch the market and find it more psychological. Stiil waiting for UPS to hit 70
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