{"id":434,"date":"2010-06-04T13:11:00","date_gmt":"2010-06-04T17:11:00","guid":{"rendered":"http:\/\/www.intuitiveinvestor.com\/web\/?p=434"},"modified":"2018-08-18T17:52:20","modified_gmt":"2018-08-18T21:52:20","slug":"official-unemployment-rate-data","status":"publish","type":"post","link":"https:\/\/jasonapollovoss.com\/web\/2010\/06\/04\/official-unemployment-rate-data\/","title":{"rendered":"Official unemployment rate data"},"content":{"rendered":"<p><span style=\"font-size: 16px;\">This morning the Department of Labor released both its jobs added and unemployment rate numbers for the month of May.\u00a0 In short, 431,000 jobs were created.\u00a0 That brought the unemployment rate down to 9.7% from 9.9%.\u00a0 Financial markets today are focused on the fact that 411,000 of the hires were for temporary census hires.\u00a0 According to the government data the private sector created 41,000 jobs.\u00a0 This compares with <span class=\"goog-spellcheck-word\">ADP&#8217;s<\/span> data yesterday which said 55,000 private sector jobs were created.<\/span><\/p>\n<p><span style=\"font-size: 16px;\"><strong>Analysis:<\/strong> I may sound like a stubborn, broken record here, but I am unconcerned that the private sector only created either 41,000 or 55,000 jobs last month.\u00a0 It has been my feeling all along that jobs would be very difficult to come by exiting the recession.\u00a0 Not only that, but the unemployment rate will remain stubbornly high for a very long time.\u00a0 But the real news in the data is that the U.S. private sector <strong>is<\/strong> creating jobs and consistently so.\u00a0 Additionally, 411,000 temporary jobs is still a lot of money being put into people&#8217;s pockets that didn&#8217;t have money before.\u00a0 It is still money being re-directed into the economy that was missing before.\u00a0 It is still people who have expanded economic options and a greater ability to make choices.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">The (so-far) big sell-off today indicates to me that there is a lot of speculative money in the stock market.\u00a0 In p<span class=\"goog-spellcheck-word\">revious<\/span> years\u00a0that speculative money was in the real-estate or commodities markets.\u00a0 If it takes a few slightly weaker than expected numbers to shake these folks out of the stock market I will be pleased with that outcome.<\/span><\/p>\n<p><span style=\"font-size: 16px;\"><strong>Importance grade:<\/strong> 8; same as yesterday.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">Jason<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This morning the Department of Labor released both its jobs added and unemployment rate numbers for the month of May.\u00a0 In short, 431,000 jobs were created.\u00a0 That brought the unemployment rate down to 9.7% from 9.9%.\u00a0 Financial markets today are focused on the fact that 411,000 of the hires were for temporary census hires.\u00a0 According [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-434","post","type-post","status-publish","format-standard","hentry","category-the-blog"],"_links":{"self":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/434","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/comments?post=434"}],"version-history":[{"count":0,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/434\/revisions"}],"wp:attachment":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/media?parent=434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/categories?post=434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/tags?post=434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}