Re: More Bad News On The Jobs Front

From: Gunner (gunnerNOSPAM_at_lightspeed.net)
Date: 02/09/05 

Date: Wed, 09 Feb 2005 13:38:30 GMT

On Wed, 09 Feb 2005 07:21:37 -0500, Strider <strider@NOSPAMusit.net>
wrote:

>On Wed, 09 Feb 2005 04:03:41 GMT, Gunner <gunnerNOSPAM@lightspeed.net>
>wrote:
>
>>On Wed, 09 Feb 2005 01:15:18 GMT, Moderate Mammal
>><BunnERabbit@verizon.hutch.net> wrote:
>>
>>>
>>>http://www.vdare.com/roberts/050207_dollar.htm
>>>
>>>
>>>February 07, 2005
>>>
>>>More Bad News On The Jobs Front
>>>By Paul Craig Roberts
>>
>>Oddly enough...that doesnt appear to be the case.
>>
>>http://www.epinet.org/content.cfm/webfeatures_econindicators_jobspict_20050107
>>
>>Employment growing, but labor slack remains
>>
>>The nation’s payrolls increased by 146,000 last month, and the
>>unemployment rate fell to 5.2%, its lowest level since September 2001,
>>according to today’s report from the Bureau of Labor Statistics.
>>
>>The decline in the unemployment rate was, however, due to a fall in
>>the labor force participation rate (LFPR) from 66.0% to 65.8%, the
>>lowest LFPR since May 1988 and 1.5 percentage points below its most
>>recent peak in April 2000.
>>
>>Given today’s adult population, this translates into 3.4 million fewer
>>persons in the job market. Since only active jobseekers are counted
>>in the official unemployment rate, this long slide in the LFPR has
>>artificially depressed the jobless rate, which would be higher if some
>>of those who left the job market were actively looking for work.
>>
>>As of last month, payroll levels have finally surpassed their
>>pre-recession peak. In February 2001—the month before the recession
>>was declared to have begun—payrolls stood at 132,546,000. Thanks in
>>part to revisions which added 161,000 to the December job count,
>>payrolls stood at 132,573,000 last month, 27,000 jobs above the last
>>peak. (Note, however, that this is due to the growth of government
>>employment; private sector employment remains 703,000 jobs below its
>>pre-recession level).
>>
>>As shown in the chart, this is the longest slump of this sort on
>>record. On average, it has taken 21 months to surpass the prior
>>employment peak after a recession. In this case it took 46 months.*
>>As the chart reveals, the employment peak of the early 1990s jobless
>>recovery was regained in 31 months, more than a year sooner compared
>>to the current case.
>>
>>
>>http://www.bls.gov/news.release/empsit.nr0.htm
>>
>>Gunner
>
>I wonder how billions of dollars in computer equipment and tech
>support due to the Y2K upgrades influenced the "Clinton boom" of the
>'90's. After all, it was the tech sector that flopped after 1/1/2000.
>
>Strider

Excellent question. Indeed

Gunner

Rule #35
"That which does not kill you,
 has made a huge tactical error"

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