Tuesday, June 19, 2012

June jobs numbers may go negative. Lost generation

Hiring is down bigtime: Job Openings in U.S. Decrease by Most in Almost Four Years. Pethokoukis:
Recall that net new job growth was 77,000 in April and 69,000 in May. But without private sector gains, those numbers would be negative. So if private-sector job growth is weakening, as the JOLT report suggests, not only might those April and May numbers be revised lower, but June might come in negative. (Oh, and don’t forget the rise in jobless claims.)
Not only would that news be bad for U.S. workers, but it would be a political bombshell that would dominate the economic narrative for the next month.
Who will it bite the hardest? A Lost generation, with an impact not for months but years.

A cautionary tale, not to put their faith in Big Gov, but in themselves...and maybe pass up the borrowed money for a masters in pop culture. P.S. College Insurrection! :) And this. Unleash America!:
A genuine pro-oil policy, he says, would create 1.4 million new jobs by 2030, raise $800 billion in new tax revenue, and cut dependence on Middle Eastern oil. He likes to talk about high-school grads working on North Dakota's Bakken Field who are making $90,000-per-year or more.


LibertyAtStake said...

If the June numbers go negative, the Empty Suit goes uber-demagogue. "Strap on your crash helmet, America, you're going to need it" (from some deep recess of my archive).

Anne said...

Even we the cynical ones probably can't anticipate the crap coming from this administration