Friday, October 02, 2015

Let me guess: aftereffects of the great recession

Zero Hedge: "Payrolls Disaster: Only 142K Jobs Added In September With Zero Wage Growth; August Revised Much Lower."

11 comments:

Mao's Little Red Ink Book said...

"Let me guess: aftereffects of the great recession"

Stupid, incompetent, job-destroying Obama.

On a totally unrelated off-topic note, how are your Chinese stock investments doing lately?

Anonymous said...

Good thing for the Umpqua shooting so Obama could take advantage of the still warm bodies of the victims to distract us from his terrible economic policies. We need more Democrat created gun free zones so that mass media inspired crazies can rack up high body counts before police arrive to distract us from the failures of the Democratic party.

Anonymous said...

Good thing for the Umpqua shooting so Obama could take advantage of the still warm bodies of the victims to distract us from his terrible economic policies. We need more Democrat created gun free zones so that mass media inspired crazies can rack up high body counts before police arrive to distract us from the failures of the Democratic party.


http://www.youtube.com/watch?v=bL1Xt3T9ZnY&t=0m7s

Shanghaied said...

On a totally unrelated off-topic note, how are your Chinese stock investments doing lately?

One of your typically obtuse, snarky statements intended to inspire a conclusion that you would not dare state openly. Only this one is so incoherent that I'm mystified as to what the intended conclusion is. Is it "Because Chinese stocks are down, the US economy has to lose jobs", or perhaps "Neither Obama nor any president's efforts to help the economy could withstand any hiccups from an emerging market", or something completely different? Anyway, it had it's intended effect - I'm much more willing now to cut Obama some slack on his economic policies.

Shanghaied said...

Oh- I just got it: "China is doing worse than the US, therefore Obama is A-Ok!

You can't always get what yuan said...

I can see how it might be obtuse and incoherent to anyone whose daily view of the world is a battle between "Obama failures" and "Obama apologists."

The Chinese economic crash gets less coverage in America than imaginary Mexican walls and imaginary twitching fetuses and imaginary stand down orders in Benghazi, true. But there are a few rare souls out there to write about conclusions that I dare not speak openly.


Associated Press: An Ailing Global Economy Starts to Weigh on US Job Market
WASHINGTON (AP) -- A sagging global economy has finally caught up with the United States.

Nervous employers pulled back on hiring in August and September as China's economy slowed, global markets sank and foreigners bought fewer U.S. goods. Friday's monthly jobs report from the government suggested that the U.S. economy, which has been outshining others around the world, may be weakening.

Lackluster growth overseas has reduced exports of U.S. factory goods and cut into the overseas profits of large companies. Canada, the largest U.S. trading partner, is in recession. China, the second-largest economy after the United States, is growing far more slowly. And emerging economies, from Brazil to Turkey, are straining to grow at all.


USA Today: Hiring slowdown traced all the way to China
What happens in China apparently ripples across the Pacific Ocean to the U.S. labor market.

With the domestic economy on solid ground, few experts figured that recent economic troubles in China and other emerging markets would make a dent in the steady U.S. jobs engine.

But Friday's disappointing payroll report – just 142,000 jobs were added last month - and downward revisions to an already weak showing for August – underscores that China's slowdown, and the resulting turbulence in stock markets, have taken a broader psychological toll on the hiring plans of U.S. CEOs.


Reuters: U.S. job growth stumbles, raising doubts on economy
Payrolls outside of farming rose by 142,000 last month and August figures were revised sharply lower to show only 136,000 jobs added that month, the Labor Department said on Friday.
That marked the smallest two-month gain in employment in over a year and could fuel fears that the China-led global economic slowdown is sapping America's strength.
...U.S. factories are feeling the global chill and shed 9,000 jobs in September after losing 18,000 in August, according to the Labor Department's survey of employers.


CNN Money: Headwinds are hitting U.S. job market: Economy adds only 142K jobs in September
The weak September jobs report could be a sign that slowing global economic growth is beginning to hurt the U.S. job market.
China’s economy has slowed down considerably and that’s putting pressure on lots of developing countries. Eventually, the slow global growth is expected to hurt U.S. trade and jobs.
At least one large U.S. company — Caterpillar — cited the global slowdown for announcing 10,000 job cuts over the next few years.

Yuan more time! said...

Fox Business: Dollar Firms, Gains Limited Ahead of U.S. Jobs Report
The euro remained under pressure after a downbeat eurozone inflation report, while the yen faced mixed signals after Bank of Japan's tankan corporate sentiment survey contained both positive and worrying signs.
But the China surveys were the session's main event. The final Caixin/Markit China Manufacturing Purchasing Managers' Index (PMI) edged down to... its lowest reading since March 2009
..."The big picture is still that the outlook for the global economy remains very subdued, mainly due to weak Chinese growth," said Masashi Murata, currency strategist for Brown Brothers Harriman in Tokyo.


L.A. Times: Global woes squeeze U.S. job growth
Disappointing job growth in September indicates the economic slowdown in China and elsewhere has started to hurt the U.S., and that probably means the Federal Reserve won't hike a key interest rate this month — or maybe even this year.
...Fed policymakers held off on a long-awaited interest rate hike last month because they wanted to see more data to determine if weak growth abroad had hit the U.S. On Friday, their fears appeared to be realized.

“The Fed looks like it was the smartest set of folks on the block because they warned everybody about potential head winds from the weak global economy,” said William E. Spriggs, chief economist for the AFL-CIO, the nation's largest affiliation of labor unions.

...“The idea the U.S. economy could power forward while the rest of the world is stalling out, that idea can be put in the garage bin,” said Chris Rupkey, chief financial economist at Union Bank in New York.

Anonymous said...

Anonymous said...
Good thing for the Umpqua shooting so Obama could take advantage of the still warm bodies of the victims to distract us from his terrible economic policies. We need more Democrat created gun free zones so that mass media inspired crazies can rack up high body counts before police arrive to distract us from the failures of the Democratic party.


http://www.youtube.com/watch?v=bL1Xt3T9ZnY&t=0m7s

https://tinyurl.com/lbbgza

Shang 'em hai said...

Cool - so I got it right with my first guess, "Because Chinese stocks are down, the US economy has to lose jobs"! [Double fist pump]

Keep it up, rare soul.

Consider this a Tianjin moment said...

Double cool - so my "typically obtuse, mystifyingly incoherent" comment was neither. Concession accepted.

However, it's better to avoid all fist pumping anywhere near the tinyurl image posted above by the "other" guy. It diverts to another url whose name includes the well-known NSFW "goatse." Without clicking on that second link, we can safely assume it depicts Cuckoo Anonymous' CAT scan.

ShangBye said...

The incoherency continues.