Courtesy of Lee Adler of the Wall Street Examiner
OK. I have done some preliminary analysis of the jobs data. Seasonal adjustments and focus on total rather than full time jobs are screwing the pooch. June gain of 1.39 million full time jobs (actual NSA) was best since June 2006 and was virtually the same as the previous 10 years average of 1.382 million. Far better than last 3 years from 2009 931k, 2010 1.05m, 2011 627m.
All this crying and gnashing of teeth is bullshit. Huge numbers moved from part time work to full time. Full time jobs were up 2.4% year over year, which is a clear acceleration from May, which had a gain of 1.8%. Total jobs were up 2.2% year to year, versus just 1.9% in May.
Total jobs rose just 475k. But that was still better than last year’s 101k, 2010 385k, and 2009′s 463k.
Full Time Employment Short Term View – Click to enlarge
Media and mainstream conomist reactions are all bullshit all the time.
I will post a complete analysis with more charts later today.
Get regular updates the machinations of the Fed, Treasury, Primary Dealers and foreign central banks in the US market, in the Fed Report in the Professional Edition, Money Liquidity, and Real Estate Package. Click this link to try WSE's Professional Edition risk free for 30 days!
Copyright © 2012 The Wall Street Examiner. All Rights Reserved. The above may be reposted with attribution and a prominent link to the Wall Street Examiner.
