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ADP Tumbles From June Exuberance, Misses 3rd Of Last 4 Months / by Tyler Durden / 07/30/2014 08:19 -0400

Following last month’s exuberant explosion of job gains according to ADP (the most since Nov 2012), the ADP employment report shows jobs missing expectations at 218k (vs 230k) and tumbling from the 281k print in June. Curious, there were still two days in the month when [...]

Busy Week Starts Quietly / by Marc Chandler / July 28, 2014

This is an eventful week, but the economic calendar starts slowly. The FOMC meeting, first look at Q1 US GDP and the US jobs report, are the highlights. The capital markets are also off to a slow start. The US dollar is narrowly mixed. Against [...]

Yellen: Where No Man Has Gone Before / By Peter Schiff / July 25, 2014

Although Fed Chairwoman Janet Yellen said nothing new in her carefully manicured semi-annual testimony to Congress last week, her performance there, taken within the context of a lengthy profile in the New Yorker (that came to press at around the same time), should confirm [...]

Obama Shenanigans on ‘Factoryless’ Exports, Taxes, Employment, Jobs / Mike “Mish” Shedlock / Friday, July 25, 2014 1:09 AM

Corporate Deserters

President Obama was beating the drums on Thursday in Los Angeles regarding corporate tax deserters, companies that move headquarters or tax shields to another country in order to escape high US tax rates.

The LA Times provides the [...]

Beloved CEO Fired By Board For Being Insufficiently Ruthless: Employees Walk Off Their Jobs In Protest / BY JESSE / 25 JULY 2014

“Just remember this, Mr. Potter, that this rabble you’re talking about, they do most of the working and paying and living and dying in this community. Well, is it too much to have them work and pay and live and die in a couple of decent rooms [...]

Bill “What Rosy Jobs Numbers?” Simon Is Out At Walmart / by Tyler Durden / 07/24/2014 09:13

There are consequences to speaking publicly about the real state of the economy. After 8 years of service, Walmart CEO Bill Simon has been replaced by Greg Foran as President and CEO of the behemoth retailer. This comes just 2 week after Simon questioned the [...]

A trend to working fewer hours and low wage labor: Is America looking at becoming a low wage nation in a race to the bottom? 1 out of 4 people working are in jobs paying $10 an hour or less. / by mybudget360 / July 22, 2014

One distinctive feature of this recovery is that many of the jobs added since the recession officially ended five years ago is that a large part of the jobs are coming from low wage labor. Low wages are not the only challenge hitting Americans. The [...]

Hedge funds will regret selling gold when GDP data disappoints on Friday / 21 July 2014

Hedge funds reducing their holdings in precious metals last week will wish they had jumped in the opposite direction if preliminary GDP figures for the second half due on Friday show that the US economy continued to contract or slow down.

Revised data for the [...]

The Neo-Mercantilist Hysteria Over US Trade Deficits / by Joseph T. Salerno / Thursday, July 17, 2014

One of the worst effects of modern Keynesian economics is that its total spending (“aggregate demand”) approach to output and employment provides a pseudo-scientific justification for the central error of mercantilism — an error that dates back to the sixteenth century. [...]

Is Canada Next? (In One Very Ugly Chart) / by Wolf Richter / July 15, 2014

While the US has been struggling for five years with a recovery that has been so crummy that “recovery” often shows up in quotation marks, Canada has been rolling in good times. Its economy has been powered by a housing bubble beyond even [...]

TRUTHS: No Economic Recovery, No New Jobs, Higher Prices / July 11, 2014

By almost every measure, we are better off than when I took office.”Record Number of Americans Not in Labor Force in June37.2%: Percentage Not in Labor Force Remains at 36-Year HighPrice Index for Meats, Poultry, Fish & Eggs Rockets to All-Time HighObama’s Balloon: Federal Student Loan Debt Up 517% [...]

$1,344 gold price suggests Peter Schiff is probably right / By Peter Cooper / 10 July 2014

On Tuesday Peter Schiff, the CEO of Euro Pacific Capital, is one of gold’s biggest proponents debated on CNBC with Dennis Gartman, the editor of ‘The Gartman Letter’ who is sometimes called ‘The Commodities King,’ and who refuses to buy the metal in [...]

Why Seattle’s Minimum Wage Hike Matters to Seniors / By Dennis Miller / 8 July 2014

The US is gearing up for mid-term elections this November 4—so much so that Rolling Stone announced the relaunch of the “Rock the Vote” campaign last month (according to one of the younger members of my team). And just like clockwork, minimum wage [...]

Momo Massacre 2.0 – The Post-Jobs-Report Crash / by Tyler Durden / 07/08/2014 10:47

What did investors in the growth-leveraged momo-darling stocks, that have raced back to record highs and “proved” that all is well in the world again, see in the Non-farm payrolls report that scared them short? From the peak last week, momo growth names have been monkey-hammered [...]

Daily Nugget – US Job Data affects on the gold price / by Research Desk / Jul 7 2014

Following a sharp increase of over $50/oz in the first 2 weeks of the quarter, the gold price is now steadily holding above the $1,300/oz mark. The price is slightly under pressure following strong US jobs data.

Gold is finding some [...]

Daily Pfennig: Dollar Goes Hog-Wild On Jobs Jamboree! / By Chuck Butler / July 7, 2014 5:57am

In This Issue.

* BLS says 288,000 jobs “created” in June. * Dollar to drift this week with no real data to print. * Later in the week data overseas. * Gold takes it on the chin Thursday!

And Now. Today’s A Pfennig For Your [...]

Virtual Economy’s Phantom Job Gains Are Based on Statistical Fraud — Paul Craig Roberts / By Paul Craig Roberts / July 7, 2014

Washington can’t stop lying. Don’t be convinced by last Thursday’s job report that it is your fault if you don’t have a job. Those 288,000 jobs and 6.1% unemployment rate are more fiction than reality.

In his analysis of the June [...]

Global Investment Climate: Pieces falling into Place / Marc Chandler / July 6, 2014

Investors learned last week that the US created 1.38 mln net new jobs in H1, the most for a six-month period since 2006. They learned that US vehicle sales in June also reached an 8-year high. For its part, the ECB emphasized that the TLTRO facility could [...]

Strong Jobs Number Sends Stocks to New Highs / Dan Norcini / Thursday, July 3, 2014

The ADP numbers yesterday were indeed a precursor to today’s very strong payrolls number. The market was expecting a good number and that is exactly what it got – and more. Going into the report a 215K increase was the consensus – instead we got a [...]

No Fireworks in Markets as Investors Digest ECB, US Jobs Data and Riksbank / by Marc Chandler / July 4, 2014

The US dollar is a little stronger against the euro and sterling, but is consolidating yesterday’s gain against the yen that had lifted it to 12-day high and returned it above the 200-day moving average. The inability of US Treasury yields to maintain the rise above [...]

Part-time working nation: The number of people working part-time for economic reasons jumped by 275,000 in the latest month of data. 6.1 million Americans not in the labor but want a job now. / by mybudget360 / July 3, 2014

The jobs report always comes out like a Black Box of economic data. While we added 288,000 jobs on the surface, digging deeper into the report we find that part-time work for economic reasons increased by 275,000 in the same month. Year-over-year inflation is eating [...]

Buy All Attempted Takedowns Of Gold, Silver And Junior Mining Stocks / By David Kranzler / July 3, 2014

The most absurd part about today’s payroll report is the fact that supposedly highly educated people get on financial spin networks and discuss and debate the report with serious expressions on their faces as though the report has any degree of validity. It’s [...]

Who Was Hiring In June / by Tyler Durden / 07/03/2014 10:04

As we reported previously, and as hardly anyone else will discuss, in June the composition of added jobs was rather abysmal: according to the Household survey, while over half a million full-time jobs were lost, this was offset by less paying, benefits-free part-time jobs [...]

June Full-Time Jobs Plunge By Over Half A Million, Part-Time Jobs Surge By 800K, Most Since 1993 / by Tyler Durden / 07/03/2014 09:29

Is this the reason for the blowout, on the surface, payroll number? In June the BLS reports that the number of full-time jobs tumbled by 523K to 118.2 million while part-time jobs soared by 799K to over 28 million!

Looking at the breakdown of full and [...]

June Payrolls Surge 288K, Above Expectations, Unemployment Rate Tumbles To 6.1% / by Tyler Durden / 07/03/2014 08:36 -0400

For once the ADP was actually spot on: in June the US economy added 288K nonfarm payrolls, far above the 215K expected, and above the upward revised 224K from June. Further, May jobs were revised from 282K to 204K. This was the fifth consecutive [...]

Definitive Analysis: War Is Bad for the Economy / July 2, 2014

Preface: Two weeks ago, well-known economist Tyler Cowen (a professor at George Mason University)argued in the New York Times that wars – especially “major wars” – are good for the economy.

Cowen joins extremely influential economists like Paul Krugman and Martin Feldstein – and various talking heads – in [...]

17 Facts That Prove That The Quality Of Jobs In America Is Going Down The Drain / By Michael Snyder on June 30th, 2014

Do you wish that you had a better job? If so, you are not alone. In fact, there are millions upon millions of Americans that get up every day and go to a job that they wish that they could afford to quit. Unfortunately, most [...]

Daily Pfennig: Lots Of Stuff Jammed Into 4 Days This Week! / By Chuck Butler / June 30, 2014 4:14am

In This Issue.

* RBA meets tonight. * Currencies are mixed today. * ECB & Riksbank later this week. * Will FOMC members break with Yellen?

And Now. Today’s A Pfennig For Your Thoughts.

Lots Of Stuff Jammed Into 4 Days This Week!

Good Day! [...]

Study: All Employment Growth Since 2000 Went to Immigrants / By NRO Staff / June 26, 2014 7:22 PM

According to a major new report from the Center for Immigration Studies (CIS), net employment growth in the United States since 2000 has gone entirely to immigrants, legal and illegal. Using data from the Bureau of Labor Statistics, CIS scholars Steven A. [...]

The Coming Global Generational Adjustment / CHARLES HUGH SMITH / JUNE 26, 2014

All sorts of promises, explicit and implicit, were issued to win votes. All the promises are now empty, and we might as deal with this reality head-on. Here’s what often happens when people start discussing Baby Boomers, Gen-X and Gen-Y online: rash generalizations are freely flung, [...]