I let Friday be a day of celebration for the current administration and admittedly a positive sign if you define positive as more people working than staying at home watching TV.
However here's the truth about the jobs report, it is laced with an underlying malaise that requires some follow up comments.
Presidential Candidate Ross Perot summed it up with his comment on trade agreements (while debating President George H.W. Bush and President Clinton, then Governor Clinton) in a nationally televised debate; Ross Perot said trade agreements are great if you want a bunch of seven dollar an hour chicken farmers.
That was over 19 years ago and sadly Ross Perot was right, we have seasonal jobs and also lower wage jobs due to our exporting jobs overseas. Too many traders that I spoke with yesterday said that the numbers look like good news but are a false positive.
This morning on Bulls and Bears on FOX the discussion was on a slow recovery that is shaky.
We'll see if there is a downward revision on the current numbers when we look at the January jobs report. Until then don't be fooled by the stability of chicken farming and seasonal retail jobs.
written by Brad Richdale all rights reserved
blog founded by Bradford Richdale
Saturday, December 3, 2011
Friday, December 2, 2011
Today's Unemployment Numbers What Do They Really Mean? By BRADFORD RICHDALE
It's nice to see good news in today's unemployment numbers, at the age of fifty four I know that a little good news can start an avalanche of belief.
All it takes is for the people with money to start spending it and you would be surprised how momentum can create better opinions for the future of the economy and a recovery.
Despite the good news the lack of a budget deal will continually come back to haunt us. As I said recently, the Super Committee is, was and will always be Super Bologna.
written by Brad Richdale copyright 2011 all rights reserved
blog founded by Bradford Richdale
Brad Richdale is the founder of the Brad Richdale Internet Yellow pages
All it takes is for the people with money to start spending it and you would be surprised how momentum can create better opinions for the future of the economy and a recovery.
Despite the good news the lack of a budget deal will continually come back to haunt us. As I said recently, the Super Committee is, was and will always be Super Bologna.
written by Brad Richdale copyright 2011 all rights reserved
blog founded by Bradford Richdale
Brad Richdale is the founder of the Brad Richdale Internet Yellow pages
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