Guest Post: "Table 9", by Jim Quinn of The Burning Platform

11
Fri, Jun 5, 2015 - 3:10pm

All sorts of lies and distortions being spun in the mainstream media today about how great the US jobs market is and how The Fed now has a "green light to raise rates". Hmmm. If you'd like to know the truth instead, I urge you to read this brief post from our pal, Jim Quinn.

The full post can also be found at Jim's terrific site, https://www.theburningplatform.com. You really should save that site to your favorites list and be sure to visit there often.

TF

"TABLE 9"

by, Jim Quinn

It seems the mainstream media is giddy with excitement over the 280,000 jobs supposedly created in May. The markets aren’t so happy, as good news is actually bad news. What excuse will Yellen and her fellow Wall Street puppets at the Federal Reserve use to not increase interest rates from emergency levels of 0.25%? The ten year Treasury rate immediately skyrocketed to 2.43% in seconds. It was at 1.64% in February. That’s a 46% decline in price in four months. Do you still think bonds are a safe investment? Guess what is tied to the 10 Year Treasury rate? Mortgage rates. There goes the fake housing recovery. Artificially high prices, higher mortgage rates, and young people unable to buy sounds like a perfect recipe for collapse.

The MSM is cackling about the 280,000 new jobs, but you won’t hear them mentioning that the number of unemployed people went up by 125,000 as 208,000 people the BLS classified as not in the labor force last month decided they were in the labor force this month. What a crock. At least 20 million of the 93 million classified as not in the labor force can or will work, therefore they are unemployed.

One month does not make a recovery. Let’s see what the YTD numbers show:

  • Since January, 594,000 more Americans are employed, an average of 149k per month. Considering the working age population has gone up by 732,000 since January, why is anyone crowing?
  • The BLS drones actually expect you to believe the unemployment rate has fallen from 5.7% in January to 5.5% today, because 442,000 Americans decided to voluntarily exit the labor force. That’s a hoot.

The really good stuff is buried in Table A-9 of the BLS data dump. See for yourself:

https://www.bls.gov/news.release/empsit.t09.htm

As the MSM hacks and government apparatchiks try to convince you the jobs market is booming, Table A-9 tells a different story. Here is what is revealed:

  • The number of working age Americans went up by 2.8 million in the last year, or 236k per month. The number of new jobs must average 236k per month just to stay even. In the last year the economy added 2.9 million jobs, slightly above the workforce growth, but the BLS expects you to believe the unemployment rate plunged from 6.3% to 5.5%. Hilarious!!!
  • It’s the breakdown of jobs by age that really screams out. It is a known fact that people in the 45 to 54 age bracket are in their prime earning and spending years. In the last year the number of employed 45 to 54 year olds has DECLINED by 67,000. It DECLINED in May by 51,000. It has DECLINED by 187,000 since February.
  • It is a known fact that people over 55 dramatically reduce their spending as they approach and enter their retirement years. The Boomers have added 824,000 jobs in the last year, or 28% of all the new jobs added.
  • Only 117,000 jobs were added in the 35 to 44 year old bracket in the last year. So the age brackets that do the most spending in the country (35 to 54) have a net increase of 50k jobs in the last year. That is 1.7% of the total jobs added.
  • The remainder of the new low paying jobs are going to young people who are in debt up to their eyeballs. Now you should understand why there is no real recovery. The people who normally spend the most aren’t getting jobs. The people who don’t spend or can’t spend are getting the bulk of the low paying service jobs.

  • Of the 2.9 new jobs created in the last year, guess how many are classified as self-employment jobs? How about 935,000. That’s right. Your new job selling shit on Ebay or cutting three lawns per week is counted as a new job by the BLS drones. What a load of bull.
  • There are also 7 million people who hold multiple jobs. That is a sure sign of economic progress.
  • Almost 300k of the new jobs added in the last year were part-time shit jobs. 205k of the 464k jobs added since March are part-time jobs.

Sorry to be a buzzkill, but today’s jobs numbers are not great. The job market sucks. Wages suck. The BLS will lie and obfuscate until morale improves. The MSM will regurgitate the lies. And so it goes.

About the Author

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turd [at] tfmetalsreport [dot] com ()

  11 Comments

boomstick
Jun 5, 2015 - 3:16pm

1th

?

philly
Jun 5, 2015 - 3:21pm

SECOND!!! ...finally got

SECOND!!! ...finally got something other than a Thurd! Time to go and read the post. Hope all you TF'ers have a great weekend.

joeblack
Jun 5, 2015 - 3:40pm
Dr. P. Metals
Jun 5, 2015 - 3:48pm

Furth

Just to deny Marchas

Jun 5, 2015 - 3:49pm
joeblack
Jun 5, 2015 - 4:05pm

So what does the phoney payroll numbers...

tell you about the FEDs intentions?

Are they looking for justification to do a token rate increase?

Marchas45
Jun 5, 2015 - 4:13pm

That's Ok Dr.P

I Like to share. Keep Stacking

indiana rod
Jun 5, 2015 - 4:19pm

Rate Increase

No Way, no how, never, will there be a rate increase. Yahoo Finance floated that lie again today. Are we all so gullible to believe there will be a rate increase?

In related news--Tom Brady wasn't aware the footballs were deflated and It was an oversight that $26 million in speaking fees wasn't reported by the Clinton tax avoidance scheme, I mean, Foundation.

benque
Jun 5, 2015 - 4:30pm

Yellen's BLS plan is:

Month 1: Yaaay!!! Great employment numbers!!! We're gonna raise rates 6 months from NOW, to slow down this overheated economy!!

Month 2: Oops. Employment numbers not quite up to our expectations.....really close, but just not quite there. So, we'll think about about that rate raise for just a little longer.

Month 3: Same as Month 1.

Month 4: Same as Month 2.

Can-kicking 101.

lakedweller2
Jun 5, 2015 - 4:56pm

Save Face

When there is a restructuring event, the POS government will say we did it for all the starving children in the world. Don't think we will be raising those rates until the people cover the bankster fraud or go to jail for their sins. These are sick bastards that have no thought or concerns about humanity.

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

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Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Key Economic Events Week of 8/12

8/13 8:30 ET Consumer Price Index
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Labor Costs
8/14 8:30 ET Philly Fed
8/14 9:15 ET Ind Prod and Cap Ute
8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

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