1. Every Thursday for something like the last year, the previous week’s new claim report was quietly revised up.
2. This year’s early-season data was adjusting heavily for weather even though we had a very warm Winter. There is reason to believe employment conditions were overstated, meaning late-year reports will have to understate jobs.
3. Birth-death adjustments have been abnormally high and are rumored to be overstating exits from the economy significantly.
4. We are at historic lows for LF participation rate. This has benign explanations and not-so-benign explanations. One of the pieces of really bad news is that many of these folks are erroneously removed from the labor force by virtue of falling off of long-term unemployment rolls at historic rates after occupying them at historic rates.
5. Nearly all the jobs added since 2009 are bad ones: part time, under-employing jobs. Jobs are not created equal, and the ones created under this administration suck.
What do you guys think?
» Hard times for educators: According to a report released today spearheaded buy the White House Council of Economic Advisers, as well as the National Economic Council and Domestic Policy Council, the above figure represents the losses in educational jobs since June 2009. The report does originate from the White House team, and as such is expectedly supportive of the President’s proposal to stem this tide – a package of $25 billion to prevent further layoffs. The last few years have seen heavy cuts to public funding, largely pushed by conservative politicians during dire economic times, and thus public-sector jobs have dwindled in states and localities, driving up unemployment despite months of sustained (if underwhelming) private-sector job growth.
BlackBerrys were in fact considered in the survey but given very few respondents reported being a BlackBerry user, their numbers were not statistically relevant. Of those considering themselves smartphone owners, only 9 percent reported being BlackBerry users.Tucked away in this Obvious Survey is Obvious post over at POLITICO, which shows President Barack Obama has a commanding 49-31 percent lead over Mitt Romney among iPhone/Android users, is one of the saddest statistics about Research in Motion we’ve ever come across (via hypervocal)