Hiring Was Stagnant In June As Only ~90,000 New Jobs Created: Surveys

The Labor Department will issue the June jobs report next Friday at 8:30 a.m. Surveys carried out by the major financial news agencies expect the report to show that a dismally low 90,000 new jobs were created in the month:



Nonfarm Payrolls estimate
Dow Jones Newswires +98,000
Thomson Reuters +90,000

Source Linkz:
http://commodityfocus.com/dj-us-data-week-ahead-no-celebratory-fireworks-for-jobs-data/2011/07/01/
http://www.reuters.com/article/2011/07/01/weekahead-americas-idUSN1E7601HY20110701

Thanks for the info! As we all know, they are usually wrong with this survey and it could be even worse than that.

It should be bad with the increase in gas prices, event though they dropped. Many teachers, police and fireman were laid off due to the stimulus funds running out and budget cuts in many state.

wow, looks like we're on the road to a (NON RECOVERY) ...It is bad and getting worse!!!

The Bloomberg survey is out this morning and they are forecasting a rise of +100,000 jobs in June. The article mentions that +200,000 a month is needed to lower the jobless rate:



http://www.bloomberg.com/news/2011-07-03/payrolls-in-u-s-probably-rose-at-pace-that-failed-to-reduce-jobless-rate.html

This is a recovery? Where are the jobs?

Where are the jobs? In China, India and many other countries. I read this article that infuriated me but basically most of the jobs being created are low skilled service jobs.

GabrielBerg wrote:The Bloomberg survey is out this morning and they are forecasting a rise of +100,000 jobs in June. The article mentions that +200,000 a month is needed to lower the jobless rate:



http://www.bloomberg.com/news/2011-07-03/payrolls-in-u-s-probably-rose-at-pace-that-failed-to-reduce-jobless-rate.html

"We're going through a soft patch in hiring, said Scott Brown, chief economist at Raymond James & Associates Inc.

Hmmmm.....seems like we've been in a 'soft patch' for more than 3 years!!

Its going to take 10 years to fix this mess! The Jobs are in China, India, Mexico. There is no way for the US to compete against the world our labor cost to much.

The IMF just did its review of the US economy , it pretty much said what the fed did. They said they expect inflation to be low, do to low demand. They directly link the low demand to unemployment. That worked when we were the worlds big dog but we are not. China will create that demand and inflation will rise.

In Greece the IMF plan is to starve them until the wages there go down so they can compete.THe IMF did the same thing to Greece Republicans what to do here.

theend wrote:Its going to take 10 years to fix this mess! The Jobs are in China, India, Mexico. There is no way for the US to compete against the world our labor cost to much.

I know that's the standard line put out by the Repubs & the media.....that US labor 'costs too much'.....but strictly speaking that's just a *big lie*. Sure labor in those other countries is cheaper but the savings haven't been passed onto the American public not even to stockholders.....for more than a year US corporations have been *hoarding* over $2 trillion dollars. (Of course the corporate execs have also paid themselves handsome bonuses.) On top of that the banksters are *hoarding* another $2 trillion dollars that they made with the almost zero-interest TARP loans instead of lending to small businesses. Bill Clinton talked about this a couple of days ago.....the hoarding of $4 trillion dolllars altogether & how it's destroying the United States. He didn't say what I believe.....that the CEO's are waiting to invest every dime of that $$ *overseas* but worry about 'overheating' those economies.....so they're biding their time. These corporate & bankster monsters are Traitors & should be charged with Treason, convicted, & sent to federal prison.

"There is no way for the US to compete against the world our labor cost to much." Thats a fact Philly, I no this on my own, I no what the costs are. Its exactly what the IMF says about Greece. A smart old man I no predicted all this many years ago,he told me exactly what would happen.He told me how long it would take to come back.

US Worker 40k
Chinese worker 5K =8 for the price of one
In China low wage people pay zero taxes,and everyone that pays ,pays the same amount.

the banks are holding money because the US banks are on the hook for most of Europes debt, people don't tell us that. Greece got bailed out by banks in europe, we insured the loans, when greece defaults the US banks will be on the hook for 100 billion dollars.There are 3 countries over there in trouble.Since we didn't directly bail them out the fed says we are at no risk, he lied.

Greece will default it just a matter of time!

Theend--

Labor costs *are* cheaper overseas.....no question about that. The problem is that the CEO's of US corporation aren't passing on those trillions in savings & profits to Americans. Not by expanding their US operations. Not by upping dividend payments to their US stockholders. Not by substantially reducing the costs of products & services to US consumers. The corporate CEO's are *hoarding* the massive profits--itching in their pants to invest those trillions in the so-called 'emerging' economies.....biding their time for fear of 'overheating' the economies that they've already overheated. Likewise the banksters are *hoarding* trillions also.....instead of lending to US small businesses.....or writing down the principals on US mortgages to alleviate the tank of housing prices. The behavior of the corporate CEO's & the banksters is clearly traitorous Treason. The dilemma is that no one (= WH & Congress) is holding them accountable.


Btw.....it's really hard to see China & India as 'emerging' economies.

The US auto companies are an exception.

The US auto companies have manifested great loyalty towards the American public. For example the CEO of Ford in Asia just commented on the company's business in Thailand after the parliamentary elections there brought to power a party that's committed to passing a law raising the minimum wage of Thailand to US$10/hour.
The reporter asked the CEO if he was worried that increasing the minimum wage there would hurt his profits. The CEO replied that Ford isn't in Thailand for 'cheap labor'--it's there to make cars in Thailand & sell them to Thais.

See the difference??

Here in the US American automakers hire Americans to sell cars to Americans. They pay their US workers a decent wage with benefits & they sell their products at a good price. Their aim for doing business abroad is to make more money for their overall company to keep their US operations going. They realize that as Patriotic American companies their primary obligation is to provide good products to American consumers.....& to treat their workers fairly while doing so.....not to *hoard profits* so that they can build/expand slave factories abroad. After the US auto makers took bailout loan $$ they put it to good use.....unlike the Wall Street banksters who took bailout loan $$ & like the majority of non-auto corporations are *hoarding profits* to destroy America.

Kudos to Ford & to the American auto manufacturers for setting an example of how to do business without screwing America. Their CEO's realize that the purpose of a company is to make & sell a *product*. The purpose is *not* to make & hoard profits.


PS--It boggles the mind to imagine what the US would look like if the (non-auto) US corporate CEO's had paid out the $2 trillion they're *hoarding* to invest abroad to their US stock/bond holders as dividends. Many of the ones who hold stocks/bonds in those corporations are (1) pension plans, (2) state & local govts, & (3) small businesses. The US unemployment rate might be around 4%-5% instead of 9%......& there wouldn't be a 'debt crisis' for state & local govts. Furthermore if the banksters would lend out the additional $2 trillion that they're *hoarding*.....the US small businesses would be booming. Hoarders = Traitors.

Does anyone know what the unemployment rate was for june?

doreenb wrote:Does anyone know what the unemployment rate was for june?

It will be published on Friday the 8th.

I've heard the number is going up but can't remember.