Here’s a quote from the article:
We already know that when you strip out the short-term Census jobs, May's jobs growth was a pitiful 41,000. But what people haven't realized is that the leading indicators for June are even worse. TrimTabs Investment Research Inc. tracks the real-time jobs picture by monitoring income tax deposits at the Treasury. And these have suddenly started falling. Based on the latest data, the firm predicts the economy will actually lose up to 200,000 jobs, net, in June. "The big news is that we have a job loss of about 200,000 coming in June," says Trim Tabs' Madeline Schnapp, "and the market isn't ready for it."
Here’s the link to the article:
http://www.marketwatch.com/story/five-ways-the-jobs-numbers-are-worse-than-bad-2010-06-08?pagenumber=1
But…but…but - HE said it’s “steady growth”! All his lie did is semi-crash Friday’s markets.
http://www.myfoxdc.com/dpps/news/obama-jobs-report-shows-steady-growth-dpgonc-20100604-fc_7911813
The “steady growth” was 431,000 jobs…but if you back out the 411,00 census jobs (part-time and/or temporary), the “steady growth” was 20,000 with an administration-expected 500,000. Does he think we’re stupid? (That’s a rhetorical question, requiring no answer!)…
SCDC - Same circus, different clowns
Keith
where’s that 500k Biden was talking about?
:shocked
-Mike
http://www.youtube.com/watch?v=Q8Tiz6INF7I
Obama is so arrogent. He thinks hes talking to a classroom of preschoolers and can just lie his face off. Its horrible how the POTUS can lie to Americans like this and there is no backlash.
The blame should be directed at the Federal Reserve’s policies, and if you need a central figure to blame, obama came along long after our problems were destined. How about Alan Greenspan’s artificial interest rates?
You should be cussing him and the idea that we need a central bank in the first place, not obama on this one.
Yeah and Pelosi’s lie that once the healthcare bill was passed it will immediately bring another 400,000 jobs to market, what a dumba$$!
I bet employers where just lining up to hire people knowing in the coming years they will be req’d to pay all those healthcare premiums.
Pelosi’s lie was a political move, both sides do it and who cares. The root of the problem lies with the idea that a handful of people known as the FOMC committee at the federal reserve can accurately predict the future. Clairvoyance is a trait that humans do not possess. They can not do the job no matter how smart people like Alan Greenspan/Paul Vockler sound. The only thing that can adjust rates properly would be banks setting the interests according to local risk/reward scenarios. Is it right that the federal funds rate is the same in NY as Raleigh? Is the local economy the same?
Why do we have a federal reserve? Why do we need one? Does one belong in a free market?