Blue World Employment Situation Report Analysis
Release Date: Usually the first Friday of each month
Release Site: www.bls.gov
Market Sensitivity: VERY HIGH
Management Value: VERY HIGH
Friday, September 07, 2012
Brain surgery is not rocket science to a brain surgeon©
The big question facing us this morning is “to graph or not to graph.” This is one of the worst reports we’ve seen in a while, and that’s up against some pretty stiff competition. The market silliness is always entertaining, and today is no exception. The other data-driven graphs are just striking.
The July number was revised down significantly, and that’s consistent with what we said on CBS Radio last month. {Podcast at http://owl.li/cJ3T1 – starts at 2:30 in} 96,000 net jobs is “only” about 30,000 short of the “expert” consensus, and that is just about the best news we can find no matter how deep we dive into the minutiae.
25+ with a Bachelor’s or higher are still unemployed at over 4%, which was a level unheard of since records have been kept…until the last few years.
The number of people not in the work force continues to balloon, and that’s why the unemployment rate has fallen or remained the same from time to time, not because the labor market is improving.
The work week remains flat overall, but it has fallen to its shortest duration of the year in manufacturing. That’s not encouraging. The really big news in this report, which won’t get much play but is very troubling, are the downward revisions to hourly and weekly pay totals in several sectors, including construction and manufacturing.
We’ve decided the graphs would just rub it in, and we have no desire to subject you to them.
Policy matters, folks. Policy matters.
Thanks for reading, and please, stay tuned…
Release Site: www.bls.gov
Every effort is made to ensure accuracy of data transcription but accuracy cannot be guaranteed. The official release site should be cross referenced. The analysis represents the opinion of Blue World Asset Managers, Ltd. who does not warrant or guarantee predictions based on its analysis.
©Blue World Asset Managers, LTD Friday, September 07, 2012