This is not about the Bakken; if you came to the site for the Bakken, scroll down to posts below.
To newbies: this is for personal use only, for archival purposes only. At one time I had trouble keeping track of these numbers, so this is for my benefit only. This is not meant for those following the Bakken.
There are two different stories here: one is unemployment (the magic number is 400,000); the second story has to do with employers adding new jobs (the magic number is 200,000)
The magic number of new unemployment claims is 400,000 -- the lower the better. The last report, bad news: hovering around 395,000.
Now, this, the magic number for new jobs: 200,000 -- the higher the better. Today's report: we've gone under the magic number -- only 118,000 new jobs were added.
Citi To Cut 11,000 Jobs
Link here to Reuters. To newbies: this is for personal use only, for archival purposes only. At one time I had trouble keeping track of these numbers, so this is for my benefit only. This is not meant for those following the Bakken.
There are two different stories here: one is unemployment (the magic number is 400,000); the second story has to do with employers adding new jobs (the magic number is 200,000)
The magic number of new unemployment claims is 400,000 -- the lower the better. The last report, bad news: hovering around 395,000.
Now, this, the magic number for new jobs: 200,000 -- the higher the better. Today's report: we've gone under the magic number -- only 118,000 new jobs were added.
Citi To Cut 11,000 Jobs
The plan will cut 11,000 jobs worldwide, including 1,900 jobs in the institutional clients group, most of whom, I assume are in New York City. That's in the same ballpark as the 18,000 Hostess/Twinkie jobs lost. Cue up Connie Francis.
Remember: the magic number is 200,000Private-sector employers added 118,000 jobs in November, shy of economists' expectations.
Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 125,000 jobs.
October's private payrolls were revised slightly down to an increase of 157,000 from the previously reported 158,000.Foreshadowing the Great Recession of 2013.
Jim Cramer says 2013 is the year things come back.
ReplyDeleteI agree. We go over the ObamaCliff in January.
DeleteWe have two quarters of negative growth (definition of recession). Howard Dean -- talking head, and previous presidential aspirant -- said that, not me, on December 4, 2012, on CNBC. He said we will finish the year with about 2% GDP growth.
Through July and August, there will be arguments how bad the Great Recession of 2013 was. The word "depression" will be bandied about.
And then, in October - November, things start to recover, and Jim will tell us he said that 2013 was the year that things come back.
i look for gasoline to be $ .50-.65 cents cheaper thru most of year 2013 , due to the Lack of Demand.if this is a recovery , and we take out 1- to 2 % of growth....ouch.
ReplyDeleteI think folks are forgetting that 2013 ends in a very unlucky number, i.e., "13."
DeleteThis is worse than the Mayan calendar for accuracy.
Apollo 13?