fxtrader07

Economic Slowdown: Employment Holding Up Well

OH NO! The superficial, useless and absolutely dumb articles continue to grow at an alarming rate at SA.
first, it#s obviously just another author who is believing the Bullsh!t's department's (BLS) "statistics and doesn't bother to even look into them beyond the surface.
so, even when we accept these strange numbers for a moment: each and every item that is important for signalling the state of the domestic economy, i.e. recession or boom was down - considerably: manufacturing, construction, retail. all in all, another 110.000 stuff-producing-jobs were lost. on the other hand, 90.000 non-producing "service" jobs (whatever these services are) were added. services jobs, btw, are usually much lower paid and add much less value than the "producing" jobs. which makes a huge difference over the longer run. worse, they provide the basis for the services in most cases. with (imagined) zero production jobs there is finally nothing left to support the services pyramid atop of it.
a positive exception was, lo and behold, financial services. of course finance does not end at wallstreet - but a lot of financial services deliver to wallstreet nonetheless. and mortgage and finance companies trying desperately to survive certainly do not add jobs either. so who are we made to believe is hiring the supposedly large amounts of "financial services" people?
the bulk though, came from the absolutely nonsensical birth-death-model that is used by the bls basically to make up the num,bers to whatever level they wish. so 72.000 business services jobs were added by way of new firms. helloo?? didn#t the author dare to ask himself what strange businesses these might be and whether they will add anything to the economy - or rather be a burden?
no he didn't because he didn't care.
what a crap.
but alas, there is no recession, no weak dollar, no deteriorating economy until the govt. confirms it, right?
unbelievable.