On a more serious note, this probably means that stocks will only be up 0.5% today. The job market may not be growing, but a 0% FF rate has unleashed a massive wave of speculation in pretty much everything. We're in late 90s territory.
The "economy" isn't all that bad. Collectively, folks are buying 95% or so of what they did before the recession. And earnings are strong because companies have found they can run their businesses with 50% fewer employees, so labor costs are down... good for the bottom line. The dark side to this productivity is that its efficiencies have been revealed.... going to be harder to justify the expense and hassle of adding new (or rehiring former) employees.... especially under Obamacare/Tyranny. It's almost like, "if 30 million unemployed were to simply disappear, we'd be just fine".... that is, there is a surplus of labor which will be very difficult to absorb into the economy. PLUS... virtually all of Obama's policies HINDER private sector jobs growth.
To add insult to an already bad jobs picture, the "health care effect" hasn't kicked in yet. This new law will have very negative consequences on jobs, whether Dems want to admit it or not. And this won't even kick into high gear for another year or two until companies start preparing for 2014.
"ADP Employment Report ... The data are collected for pay periods that can be interpolated to include the week of the 12th of each month, and processed with statistical methodologies similar to those used by the U.S. Bureau of Labor Statistics to compute employment from its monthly survey of establishments. " expected +40K, reported -23K Clearly some sort of a mistake, somebody must have plugged in the wrong numbers. The statisticians will be fired, new statisticians hired and we will get the correct numbers for Apr.
It may be that the âDrop offsâ or those who did not find a job while on unemployment are starting to receive extended unemployment. I thought I heard that became law. Any one else see that in the news?