May 31, 201214 yr Not what I wanted to hear......Job hunting starts on Monday for me. That sucks. I'm sorry.
May 31, 201214 yr That sucks. I'm sorry. thanks, this contract I am on now was only suposed to last untill end of Dec 2011, here we are end of May 2012, I cant complain to much. On to the next one.
May 31, 201214 yr Not sure how it affects the numbers, but 70,000 are set to lose unemployment benefits next month.
May 31, 201214 yr Author thanks, this contract I am on now was only suposed to last untill end of Dec 2011, here we are end of May 2012, I cant complain to much. On to the next one. Good luck. What industry?
May 31, 201214 yr Author Accounting and Strategic Planning. Maybe put a 'Cost saver/Cost take out' angle on that. That seems to be what companies are focused for the remainder of 2012. There is a 'batten down the hatches' feeling short term it seems.
June 1, 201214 yr Here's how bad the job market has been for a while. If you take our the Census hiring that took place a year or two ago May 2012 was the 4th highest May jobs total in 10 years.
June 1, 201214 yr Here's how bad the job market has been for a while. If you take our the Census hiring that took place a year or two ago May 2012 was the 4th highest May jobs total in 10 years. I should add it's the best May in 5 years. Crazy.
June 1, 201214 yr I should add it's the best May in 5 years. Crazy. imagine if we weren't practicing austerity and not laying off all of those teachers that we did in May and were actually hiring them.
June 1, 201214 yr This news today has pushed the 10 yr Treasury below 1.5 basis points. That is an alltime low !!!! Crazy !!!
June 1, 201214 yr This news today has pushed the 10 yr Treasury below 1.5 basis points. That is an alltime low !!!! Crazy !!! I'm not well-versed on the Treasury. Will this impact mortgage rates?
June 1, 201214 yr Author Monthly UE from official BLS site. Table A-12. Unemployed persons by duration of unemployment Average duration upticked for the first time in 2012 and is higher than in May 2011. May 2012 to May 2011 is flat in general. Official rate rose to 8.2%. Expected new jobs was 150,000, reported - 69,000. Miss by over half. Certainly wish this was better.
June 1, 201214 yr Author I'm not well-versed on the Treasury. Will this impact mortgage rates? Usually the Fed lending rate drives Mortgage rate. But since the fed is buying up the treasuries to keep them from crashing they could be related. Without the Fed (America's old money) buying the Treasuries the US government would not have any money. Who Will Buy Treasuries When the Fed Doesn Mortgages are now at lows as well. 30y - 3.75 15 - around 3.0. I have seen estimates these will drop another .5 to full point later this year or early next. I thought the bottom on 30y was 4.75 a couple of years ago...wrong! And lord help anyone really wanting loan today. The only thing they do not want (yet) is a pint of blood when you get a new mortgage loan.
June 7, 201214 yr Author March 15: Reported - 351,000, Revised - 353,000 March 22: Reported - 348,000, Revised - 364,000 Reported - down, Actual - up March 29: Reported - 359,000, Revised - 363,000 Reported - down, Actual - down April 05: Reported - 357,000, Revised - 367,000 Reported - down, Actual - up April 12: Reported - 380,000, Revised - 388,000 Reported - up, Actual - up April 19: Reported - 386,000, Revised - 389,000 Reported - down, Actual - up April 26: Reported - 388,000, Revised - 392,000 Reported - down, Actual - up May 03: Reported - 365,000, Revised - 368,000 Reported - down, Actual - down May 10: Reported - 367,000, Revised - 370,000 Reported - down, Actual - up May 17: Reported - 370,000, Revised - 372,000 Reported - no chg, Actual - up May 24: Reported - 370,000, Revised - 373,000 Reported - down, Actual - up May 31: Reported - 383,000, Revised - 389,000 Reported - up, Actual - up June 07: Reported - 377,000, Revised - TBD Reported - down, Actual - TBD U.S. Initial Jobless Claims Fall to 377,000 - Businessweek Weekly Initial Jobless Claims in U.S. Fall to 377,000 - Businessweek Reported as 'down' after a revision (upward, as usual) to 389,000 from 383,000. Even without the revision the claims would be down so for a change the headlines match reality - so far. There is not much about the 4-week moving average. It is 'less-volatile' value that smooths out the spikes and dips. It is at a 4 week high indicating the trend is increasing over the last month. The recovery at best is stalled and shows signs of slipping badly.
June 14, 201214 yr Author More bad news unfortunately. March 15: Reported - 351,000, Revised - 353,000 March 22: Reported - 348,000, Revised - 364,000 Reported - down, Actual - up March 29: Reported - 359,000, Revised - 363,000 Reported - down, Actual - down April 05: Reported - 357,000, Revised - 367,000 Reported - down, Actual - up April 12: Reported - 380,000, Revised - 388,000 Reported - up, Actual - up April 19: Reported - 386,000, Revised - 389,000 Reported - down, Actual - up April 26: Reported - 388,000, Revised - 392,000 Reported - down, Actual - up May 03: Reported - 365,000, Revised - 368,000 Reported - down, Actual - down May 10: Reported - 367,000, Revised - 370,000 Reported - down, Actual - up May 17: Reported - 370,000, Revised - 372,000 Reported - no chg, Actual - up May 24: Reported - 370,000, Revised - 373,000 Reported - down, Actual - up May 31: Reported - 383,000, Revised - 389,000 Reported - up, Actual - up June 07: Reported - 377,000, Revised - 380,000 Reported - down, Actual - down June 14: Reported - 386,000, Revised - TBD Reported - up, Actual - TBD US unemployment aid applications rise to 386K - Yahoo! News Since the numbers reflect that the odds of an upward revision are 100% (every week the initial number is lower than the revised) the number of 386,000 is likely closer to 400,000. The end of the second fiscal quarter is coming up for most companies. Companies that usually do 30-day notifications and want to start 3Q fresh would have already done their layoffs by the end of May. But some companies execute layoffs with their earnings statements to blunt that bad news and throw a bone to the analysts. This can be seen in the bubble in April. If companies come out weak on 2Q earnings - which is almost a certainty - this unfortunate trend is not going to get better in July or August. Sorry to be a Debbie downer.
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