Like I have been saying for the past 6 years, pass the public works infrastructure bill instead of doing nuthing.
Agree that 200K is a great number (the revised lower May number of 254K was still hot) but disappointed with the flat wage. It is possible that bls has no way to include fringe benefits as heathcare, childcare, elderlycare, bonuses, stock options, wellness subsidies, not to member free food and transportation from firms like google, yahoo, facebook and their wannabes.
Goes to tell you the big boys got the news last week and you only hear of it yesterday. That would explain why HPQ hit new 52 week lows DAILY in a row on 80% higher volume.
What a bunch of crooks.
If only the do-nuthing obstructionists would pass the infrastructure job bill proposed by Obama instead of passing bills to repeal Obamacare and renaming post offices to honor their donors.
The June print of 223K jobs added was just shy of the 230K consensus, but May's 280K gain was revised down to 254K and April's 221K to 187K. Combined, there was 60K fewer jobs created in April and May than originally reported.
The unemployment rate fell to 5.3% from 5.5% previously and 5.4% expected, but it's due to lower labor force participation rate - it fell to 62.6% from 62.9%. A year ago, it stood at 62.8%.
The broader U-6 unemployment rate fell to 10.5% from 10.8% in May and 12% a year ago.
The average workweek of 34.5 hours was flat for the fourth straight month. Average hourly earnings of $24.95 was flat, and up 2% from a year ago.
Released On 7/2/2015 8:30:00 AM For Jun, 2015
Prior Consensus Consensus Range
Nonfarm Payrolls - consensus is 230,000, Range of 202,000 to 252,000.
Too bad Congress are off campaigning and not doing anything with the pending job bills that Obama has proposed, from Nat Gas to Infrastructure Job Bills. In between are minimum wage which has not moved with inflation for decades. Money for the poor and middle class will be used, unlike the rich who invest in companies often in overseas. Alibaba alone had siphoned off hundreds of billions, hundreds of billions more in foreign mutuals, not to mention loans to Greece, Brazil, Puerto Rico, Vietnam ... everywhere but in USA.
Others have made the analysis for us already. Besides the article I had cited on SET vs FICA, his income really got big as his tax bill since he left office:
he tax forms showed Bush was earning roughly double the median household income throughout the 1980s. He also incurred significant losses from business partnerships between 1985 and 1988, when he actually declared a negative adjusted gross income.
His financial fortunes reversed when his father was elected president, as his income climbed from $96,583 in 1988 to more than $1.3 million in 1990. Bush also earned more than $1 million each year in 1992 and 1993. During the period, Bush undertook numerous profitable ventures with Armando Codina, a prominent Cuban supporter of his father's, and other Cuban exiles.
Bush's income declined under President Bill Clinton, dropping to $370,330 in 1994, and falling further to $283,428 in 1999, the year he took office as Florida's governor, when he averaged $189,734 per year. When Bush left public office in 2007, his bank accounts swelled. He earned nearly $28 million between 2007 and 2013.
There is an article pointing out that he had only paid 36% or higher only once in those three decades and that there are some years he paid nothing. Last he included self employed taxes which he should not have since self employed tax is really FICA for ordinary citizens. You and I don't add FICA on top of our FIT in effective tax rate calculations right?
Being a once upon a time Christian, there is a rule of tithe for all devoted members of the church, and more for the wealthy because they are able to with excess spendable income. Remember the way to heaven ... it is easier for a camel to go through the eye of a needle than for a rich man to ...
In History Channel's Bible Secrets Revealed, There were episodes in examining if Mary Magdalene an apostle and if she was a prostitute, or that she was the secret lover or wife of Jesus and the mother of their child. Does Ruth try to seduce Boaz? Does the Bible condone sexual promiscuity for the sake of procreation? Does Jesus’ kindness to the prostitute in Luke 7 means he is “open” to different sexual lifestyles? Were David and Jonathan Lovers etc. etc. etc.
One of the most humiliating revelations from Jeb Bush's tax records, which he posted online Tuesday, is that Bush is a true Scrooge when it comes to charitable giving. In 2013, he gave $110,616. That seems like a lot, until you consider it's only 1.5 percent of his $7.3 million income that year.
That tax cycle wasn't an aberration. Every year since leaving the Florida governorship, Bush has given 3 percent or less of his income to charity, despite making millions of dollars every year.
Bush is just fine with his giving. "I’m proud of what Columba and I have contributed," he declared upon releasing the records. He shouldn't be.
(note midyear and not
Job cuts increased 9.3% M/M, midyear layoffs to its highest level since 2010
June Challenger Job-Cut Report: 44,842 from 41,034 in May.
The first-half surge was due largely to the decline in oil prices, which rippled through the energy and industrial goods sectors. All told, the drop in oil prices was blamed for 69,582 job cuts in the first half of 2015. That is second only to the 86,978 job cuts attributed to “restructuring.”
June ADP Jobs Report: +237K vs. 220K consensus, 201K prior.
Agree with the tenet of those crooked analysts in cohorts with their traders and paying bankers.
However, I am surprised at how fast the 3D space crashed even though there is no change to its potential. Heard a few loud mouths told us that they sold HP and moved to 3D stocks. e.g DDD steadily declined from above $60 to under $20 today, High was above $90 18 months ago. It is a case not to chase so called beaten down stocks. With that said, 3D still has a good story while Meg/Kathy have told a phony 5-year recovery plan of a story.
By Akin Oyedele
6 minutes ago 133
Consumers are feeling great about the US economy.
The latest reading of the consumer confidence index came in at 101.4, crushing forecasts.
Economists had expected an index print from the Conference Board of 97.4 for June, up from 95.4 last month.
In a preview of this week's economic data, BNP Paribas wrote: "The pace of payrolls growth continues to impress. While equities and gasoline prices have been relatively flat, the employment boost is expected to continue to buoy confidence in June."
Won't touch it above $27 now. When the insiders and institutions are selling, you won't find me standing in their way.
Data released today still show that home prices nationally and in vast majority of cities are still well below the 2007 peak when bubble was formed on those liar loans, negative amortizations and cash back mortgages.
For individual cities, take San Francisco includes neighboring Alameda CA, Contra Costa CA, Marin CA, San Francisco CA, San Mateo CA), May 2006 index was 218.37 and Apr 2015 was 210.18 ... but from what I read in local papers and numerous first hand stories, San Fran's home prices have gone through the roof and long surpassed the old record. Average resale homes in San Mateo County exceeded median price was $1.25 Million and Silicone Valley was above $915K in Apr per Bay Area News Group. Those number are at least 10% to 20% higher than what I recalled as the peaks during the bubble.
I don't have the San Fran county data but nothing but horror stories like $700K for a flea size cubical ...
Wonder why the discrepancy ... only thing I can find is CS excluded some sales like condos that Bay Area is full of. May be they exclude town houses as well.
But who the heck is this guy:
Hewlett-Packard: Chris Hsu Will Continue to Lead Enterprise Separation Efforts
DOW JONES & COMPANY, INC. 6:05 AM ET 6/30/2015
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2800)
Copyright (c) 2015 Dow Jones & Company, Inc.
The pink slips are not done flying at Hewlett-Packard.
CNNMoney (New York) June 4, 2015: 4:16 PM ET
Since being hired to run HP (HPQ, Tech30) in 2011, Meg Whitman has overseen a dramatic downsizing that has cut about 55,000 jobs. The painful moves have been central to Whitman's efforts to turn around a once-iconic company.
But Whitman is now warning more layoffs are likely in the near future, given turbulence in the global economy.
"I think we are through the vast majority but I suspect there will be more fine-tuning over the next couple of years," Whitman told CNN's Poppy Harlow in an interview at HP Discover this week in Las Vegas.
Asked how many cuts are ahead -- Whitman declined to specify, but noted it will depend on how the economy fares between now and November 1. That's when the 76-year-old company is splitting itself into two publicly-traded entities.
What a shame:
NBC (CMCSA -1.3%) is ending its business relationship with presidential candidate Donald Trump over "recent derogatory statements" about immigrants, it said in a statement.
The move means that the annual Miss USA and Miss Universe pageants (a JV between NBC and Trump) won't air on the network.
Trump also won't participate in The Apprentice reality competition show.
Univision had previously indicated that it wouldn't be broadcasting the pageants in the wake of Trump's remarks.