Jobs

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Chart of the Day: The Truth Behind the Hiring Surge

On Wednesday morning, the markets were stunned… But it had nothing to do with the Fitch downgrade of U.S. debt. It had to do with jobs. For the second consecutive month, ADP hiring soared past expectations. Private employers added 324,000 Americans to payrolls, nearly double the 175,000 economists anticipated. On Friday, U.S. nonfarm payrolls are […]

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The Earnings and Events to Watch the Week of July 31

postcards from the florida republic: An independent and profitable state of mind. At the pub this week, we got word of two Florida fishermen who caught a small shark. But… As they pulled the first catch of the day closer to the boat, a jealous thief decided to swoop in and snatch the prize… The […]

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With 40% of Americans One Bill Away from Financial Disaster, What's Next?

Despite hundreds of billions of dollars in bailout money and U.S. Federal Reserve stimulus, the U.S. economy is still not working very well for the average American.

According to a survey by Bankrate.com, 40% of Americans say they are just one big bill away from financial disaster. That tells Money Morning Chief Investment Strategist Keith Fitz-Gerald that the government's efforts to rescue the U.S. economy have failed.

He said there's one figure he's watching this week that will show if there's much hope for Main Street at this point...

Gallup CEO Just Outted Government's False Unemployment Rate

Unemployment rate

The government's official unemployment rate is "a Big Lie," according to Jim Clifton, the CEO of 80-year old analytics firm Gallup. In a Feb. 3 op-ed, Clifton slammed the White House, Wall Street, and the media for celebrating about how unemployment is "down" to 5.7%.

Of course, here at Money Morning, we've called the "official" unemployment numbers cooked all along.

It's a good thing that Clifton is onboard with us - the more the merrier.

We want Americans to know there's a reason why they haven't "felt the recovery." Check out this breakdown...

July Jobs Report Confirms These Major Problems with U.S. Employment

The July jobs report brings the total number of part-time jobs created this year to more than three times the amount of full-time jobs added.

Welcome to America: Land of part-timers...

The trend was pronounced in June when data revealed part-time jobs grew by a robust 360,000 and full-time jobs declined by 240,000. Friday's July jobs report was further proof.

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You can Figure out When the Fed Might Start Tapering

Although you might think the markets simply respond any time Ben Bernanke sneezes, his "cold cycle" is not one of the indicators that will spell the slowing

and eventual cessation of the printing press at the Fed.

There actually is a mathematical formula used by the Federal Reserve to determine when to stop the presses.

I could give you the formula and it would look like this:

POP2 = [1-(%POP) m*m] *POP1.

Or, I could share the link to the Federal Reserve's Jobs Calculator in Atlanta.

This is the same calculator used by the Fed to determine when the jobs market and the unemployment rate will align properly. And when they do, it will signal to the Federal Reserve that it might be a good time to start tapering its $85 billion a month bond buying program.

This is what needs to happen: The economy will have to show new job growth.

The Fed is looking for the creation of 150,000 to 200,000 new jobs each month for 6 months. This is how we look now:

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