Given this week's 388,000 initial unemployment claims, the media now says, "[m]any economists believe a reading below 400,000 points to an improving labor market." That's from Reuters on 10/18/12. Really?! So if 399,000 people continue to get laid off for the next 1-50 years, all is well in the USA? Come on man, just simple logic. It's 2012, companies still hacking payrolls by 300,000+ and sending every job not nailed down overseas or replacing it with someone new to our shores (but more labor arbitrage, more, more more), or making people reapply to their own jobs and then hiring them back at a discounted wage or as interns for free. But hey, economists and the media keep upping the ante, so the number used to be under 300,000, then mid-300s, now it's anything under 400,000 and all is well. Watch next week when this number is inevitably increased up from 388,000, I'm guessing just under 400,000 because almost all other revisions are up and must be kept under 400,000 because that's "improvement" in the labor market. If it can't be kept under 400,000, look for the new "improvement" number in the labor market to be upped to 425,000. Yes, they are this obvious about changing the measurements and signs of improvement and deterioration. So blatant, it's sad that people get paid for this crap while 27 million other people are left out in the cold like Dickensian street children staring at liars and manipulators enjoying a warm meal next to a fireplace.
Given this week's 388,000 initial unemployment claims, the media now says, "[m]any economists believe a reading below 400,000 points to an improving labor market." That's from Reuters on 10/18/12. Really?! So if 399,000 people continue to get laid off for the next 1-50 years, all is well in the USA? Come on man, just simple logic. It's 2012, companies still hacking payrolls by 300,000+ and sending every job not nailed down overseas or replacing it with someone new to our shores (but more labor arbitrage, more, more more), or making people reapply to their own jobs and then hiring them back at a discounted wage or as interns for free. But hey, economists and the media keep upping the ante, so the number used to be under 300,000, then mid-300s, now it's anything under 400,000 and all is well. Watch next week when this number is inevitably increased up from 388,000, I'm guessing just under 400,000 because almost all other revisions are up and must be kept under 400,000 because that's "improvement" in the labor market. If it can't be kept under 400,000, look for the new "improvement" number in the labor market to be upped to 425,000. Yes, they are this obvious about changing the measurements and signs of improvement and deterioration. So blatant, it's sad that people get paid for this crap while 27 million other people are left out in the cold like Dickensian street children staring at liars and manipulators enjoying a warm meal next to a fireplace.