Initial Jobless Claims: -13K to 348K vs. +10K consensus. Continuing claims -100K to 3.43M.

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bbro Comments (7841)
 
52 week moving average of NSA initial jobless claims is now below
400,000 at 398866....this event has resulted in the past 6 to 7 million private sector jobs being created over the following 3 years...
16 Feb 2012, 08:43 AM Reply Like

mrdirt Comments (217)
 
What companies/Industries hired 6 to 7 million private sector in the last 3 yrs?
16 Feb 2012, 09:14 AM Reply Like

bbro Comments (7841)
 
Not past 3years in the next 3 years....here is a hint...look at the Postponable Purchases to GDP ratio
16 Feb 2012, 09:21 AM Reply Like

mrdirt Comments (217)
 
Does the data tell us what companies/industries will be hiring? Cant be Pharma their moving mfg operations to emerging markets, Cant be Airlines, Cant be Oil/Gas production or coal? Automobiles? GM Ford their also building plants in emerging markets.
16 Feb 2012, 09:43 AM Reply Like

oaksprings Comments (11)
 
All govt. Personal directly involved with producing govt. Economic reports should be required to take a lie detector test at least annually
16 Feb 2012, 10:07 AM Reply Like

SanDiegoNonSurfer Comments (2030)
 
Tech is hiring -- engineers and programmers. Actually there's a shortage of skilled programmers.
16 Feb 2012, 10:17 AM Reply Like

mrdirt Comments (217)
 
Agree, however that may only be (Im being overly optimistic) 10k. where are the other increases coming from?
16 Feb 2012, 10:37 AM Reply Like

SA reader Comments (176)
 
No one can predict 6-7m new jobs being created. You are out of your mind. Although I can see a few million being lost in the upcoming years as we enter another recession thanks to Europe.
16 Feb 2012, 02:07 PM Reply Like

davidshelton Comments (236)
 
The Bakken is booming. Look at the unemployment rate up there.... ie North Dakota et al.
16 Feb 2012, 02:14 PM Reply Like

SanDiegoNonSurfer Comments (2030)
 
Some are in construction, including refurbishing. I'm not in that field but I've been following the market there.
16 Feb 2012, 02:20 PM Reply Like

darealdaywalker Comments (4)
 
"All govt. Personal directly involved with producing govt. Economic reports should be required to take a lie detector test at least anally"

Fixed
16 Feb 2012, 03:41 PM Reply Like

Econdoc Comments (2944)
 
200,000 plus a month job growth at the moment - that is what this means. over 2 million per year at the moment.

this is a bull market and growth is here

as for who is hiring. I am.

E
16 Feb 2012, 09:09 PM Reply Like

Papaswamp Comments (2114)
 
Majority are low end, low skill, low wage jobs. Participation rate for those with less than a HS diploma is the ONLY group that has seen an increase. All others (HS, Assoc and Bachelors and above) have been declining for the last 20 yrs. Tax revenues per worker have declined by $200 in 1 year. You can say the economy is spiffy all you want, but it isn't. It is propped up by massive government/Fed intervention on a level never seen before.

Total participation rate (no it doesn't include retirees):
http://bit.ly/sBiT0v

Those with NO HS degree:
http://bit.ly/ypzAvs

Those with Bachelors or higher:
http://bit.ly/yQP7uw

The US is a service sector economy that is generating a demand for cheap uneducated labor….this will translate to an economic degradation.
17 Feb 2012, 02:41 PM Reply Like

Papaswamp Comments (2114)
 
NSA was good... Long term though is growing (+18,000).
16 Feb 2012, 09:05 AM Reply Like

Poor Texan Comments (3489)
 
As long as we can keep replacing $100K jobs with $40K jobs, the unemployment number will look good.
16 Feb 2012, 11:46 AM Reply Like

harryjack Comments (412)
 
I can attest to that and on behalf of 50 of my friends. They don't tend to really get into detail about the number employed and payroll totals over the last 5 years do they? As a coworker on the factory floor said today, and being over 50 I could appreciate his comment "I can easily find jobs as long as I am willing to work hard for minimum wage" - he was grateful as am I to have a job, but the baby boomers are finding a new reality. Statistically, over 50 aged professional workers make 33% of their lifetime peak salary, but me and two other over 50 guys were in the January numbers!! I don't miss the 9PM conference calls though and have more time for golf and CNBC!! PS - Japanese companies are ONSHORING, which may explain why Tundra has more domestic product than a Silverado or an F150.

16 Feb 2012, 10:59 PM Reply Like

Blackeyebart Comments (206)
 
Logic suggests housing will play a big part. If housing related jobs are not down now they never will be.
The US population is growing so some build up of housing demand must be accumulating. House prices are still falling in some markets so I don't expect it in the next few months but we will notice it when it happens.
With a three year horizon it looks a good bet to me.
16 Feb 2012, 09:11 PM Reply Like

harryjack Comments (412)
 
Blackeyebart I agree with you to a point. When the average size "home" bought drops 300 square feet, many people are doing like me - downsizing - which is a relative term (my new house will be 1200 square feet smaller, but still too big. It also rides with the housing "boom" being 80% driven by multifamily units which normally are smaller spaces for people relocating, thus the drop in square footage, but more importantly a drop in CONSTRUCTION SPENDING PER UNIT AND LOWER LABOR COSTS! The upside, more green spaces per unit sold! Maybe the countries healthy habit of devouring 2M acres a year will subside as compressed housing becomes the trend! Baby boomers are not healthy enough to maintain their estates and would rather play golf or travel. Maybe the downward trend will be an upward trend for travel and leisure.
18 Feb 2012, 02:00 PM Reply Like