Friday, September 2, 2011

Ugly Jobs Report Adds to Recession Fears

Sheraz Mian


Today’s ugly jobs report adds to the fears that the U.S. economy is heading towards another recession. These fears had eased a bit in recent days as a host of economic readings showed signs of positive economic momentum. The continued resilience in the weekly jobless claims data and Thursday’s ISM report appeared to be leading towards the conclusion that while growth was very weak, it was nevertheless positive. This morning’s jobs report brings the recession scenario again to the front. The Bureau of Labor Statistics reported the creation of no new jobs in August, significantly below the consensus expectation of about 65 thousand. Private sector jobs totaled 17 thousand, down from 156 thousand in July. The prior month’s numbers were revised down, with July’s gains coming down to 85 thousand from the originally reported 117 thousand levels.

The outlook for the nation’s economic health had turned negative following the release of the second quarter GDP report in late July. The accompanying negative revisions to the prior quarters showed that the U.S. economy was entering the back half of the year with a lot less momentum than was initially expected. The resulting downward revisions to second-half GDP growth estimates added to the fears that the economy could fall into a double-dip recession. Today’s sub-par jobs report magnifies those fears. This is a major disappointment for the market, particularly given the relatively less negative economic readings of recent days.

9 comments:

  1. HOW TO PROFIT LIKE THE ULTRA-RICH DURING TIMES OF ECONOMIC CHAOS!

    *** globaleconomicwarning.blogspot.com ***

    This is a must see video... you have you prepare yourself and your loved ones before it's too late.

    ReplyDelete
  2. HOW TO PROFIT LIKE THE ULTRA-RICH DURING TIMES OF ECONOMIC CHAOS!

    *** globaleconomicwarning.blogspot.com ***

    This is a must see video... you have you prepare yourself and your loved ones before it's too late.

    ReplyDelete
  3. No jobs coming backSeptember 2, 2011 at 6:10 PM

    were cooked,
    ain't no jobs, no jobs coming back, lets face it its over and done... just Kill ya selves

    ReplyDelete
  4. U.S. Employers With the Largest 2011 Layoff Announcements
    Merck and Co.: 13,000 layoffs
    Borders Group: 16,700 layoffs
    U.S. Postal Service: 7,500 layoffs
    Cisco Systems: 6,500 layoffs
    Lockheed Martin: 6,500
    State of Connecticut: 6,500
    Perkins & Marie Callender’s Inc.: 2,500
    Medtronic: 2,000 layoffs
    State of Alabama: 2,000 layoffs
    State of Iowa: 2,000 layoffs

    Don't believe me?
    Here's the article link
    http://abcnews.go.com/blogs/business/2011/09/u-s-employers-with-the-largest-2011-layoff-announcements/
    Its going to to get very ugly people, but you all just keep on voting republican and right wingers just keep on saying that you too can become rich...
    no not gonna happen baby cakes

    ReplyDelete
  5. The treasury bubble will pop on Thursday, Sept. 22nd, 2011. Silver will hit 58.50 the same day, and gold will be 2107.00. On Saturday Sept. 24th, 2011 The IMF will have a meeting in Stockholm to talk about the US dollar index hitting 42.19, and Obama will call for a bank holiday on the same day. Hyperinflation in the US Congress calling for price and wage controls by Monday, Sept. 26th. The US dollar collapses Wed. Sept., 28th.

    ReplyDelete
  6. Cool ! All that in 6 days ! I can hardly wait !

    These dickbgs are so freaking hilarious; like anyone else on the entire planet gives a shit about their little timeline diatribes

    Idiot number 2 Zillion 1:57

    ReplyDelete
  7. 1:57 AM That's really creepy
    the number 2 keeps coming up in your prophecy.
    I like the number 2 it reminds me of two things and not one. I like to have 2 cars but i can only afford one, I like 2 houses but can't afford one. like like 2 vacations a year but i only get one. I like 2 paychecks every 2 weeks but i only get one every 2 weeks.
    I like 2 do you like 2 too?

    ReplyDelete
  8. In the words of Jagger,
    "In the sweet old country where I come from nobody ever works nothing ever gets done, but hang fire"
    Hang Fire

    ReplyDelete

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