Blizzard of bad jobs news to hit Friday

[The Northerner]

The White House is bracing for an ugly unemployment report on Friday that is expected to be worse because of the three winter storms that hit the East Coast last month.

Goldman Sachs predicted the economy will lose as many as 100,000 jobs in February due to blizzard-like conditions that kept employers and prospective hires from getting to the office.

That could bump the 9.7 percent unemployment rate closer to 10, dealing a blow to Democrats hoping for a steady economic recovery in the months leading up to November’s midterm elections.

Economic officials on Monday were already spinning expectations for the report, saying it would be important to look past February’s figures to the “underlying trends,” according to White House economic adviser Larry Summers.

“The blizzards that affected much of the country during the last month are likely to distort the statistics,” Summers told CNBC.

Weekly figures suggest job losses are continuing. Unemployment claims jumped up 22,000, to 496,000 for the week of Feb. 20, and the four-week average of claims also rose by 6,000.

Read more: http://thehill.com/homenews/administration/84623-blizzard-of-bad-news-on-jobs

[upi402]

1. Summers, the 'S' in BS

The weather in the west was moderate, no snow in the northwest. Is the east coast the entire nation now? And the northwest had all time record snow last year. It was not mentioned in terms of recession. And the NW is where Boeing, Paccar, Microsoft, Nintendo, -much of the faint embers of our manufacturing for export remains there.

It's BS to pin bad economy on our not spending due to weather, or whatever.
WE DON'T MAKE SHIT TO SELL TO OTHER COUNTRIES ANYMORE (and we've figured it out already)

Banks wont lend because they know we wont be replacing all those lost jobs for half a generation, if ever.

[TheWatcher]

2. Wait, weren't we told this morning that the Economy was doing better DESPITE the Snow

http://www.reuters.com/article/idUSTRE6224G620100303

We TRULY live under Soviet Level Propaganda these days.

And for the most part, The Public, and many people on DU even, can't get enough of it.

The "Iron Curtain" has become "The Ignorant Curtain".

[Historic NY]

7. exactly.

[invictus]

10. +1

[AllentownJake]

3. Simple

If February was awful because of snow, than March has to be really great because of no snow, no correlating uptick in a month shows them to be liars. Personally, I expect a major revision downward of January numbers.

The seasonal adjustment number should catch this anyway, but we'll play the propoganda game for month.

[blue neen]

4. Your daily positive post.

n/t.

[TheWatcher]

6. Don't worry about it. Just turn on CNBC and BELIEVE. Or just pretend it doesn't exist.

It's worked out pretty well so far.

for the past 11 months at least.

Don't worry, they'll just bail out everything like they always do, and the Cocoon of Magical Rose-Colored Wonder will be kept intact for another few months or so.

By the time they are done constructing this Truman Show Of Bullshit, The Recovery will be so awesomely strong, none of us will ever have to work again anyway, so jobs will be pointless.

We'll just put an audio copy of "The Secret" in our iPods, a 24 hour feed of American Idol in the DVR, click away on Amazon.com and buy shit all day with Infinite Fiat from Helo Ben's Helicopters and Endless Electronic Debt created out of thin air, and we'll just sit back and "Recover."

I'm thinking about getting a neural implant with my Capital One Platinum Card at only 60000% Interest, so I can be permanently hooked in to XBox Live, so me and Shia LaBouf can get our fake war on in MW2, and pretend we're winning the War On Terror.

Hey, it will be just about as real as the one on the outside world.

It's going to be EPIC.

You'll see.

Praise Marty Moose.

Life Is Just A Fantasy, Can You Live This Fantasy Life

-Aldo Nova

[InkAddict]

12. Yup, my Second Life is doing just great, ty

Why, just this past month President/CEO L has given me, Seren, a free home in a nice, new neighborhood, LOL; however, I've wised up -- no partners or prim babies for this chick -- I even have a sweet "dream" HUD.

http://www.youtube.com/watch?v=3vijExjgP9I&feature=related

I'm on a rebound, yup, yup, yup!

[Juneboarder]

13. Can I move to your 2nd life?

LOL... :)

[HughBeaumont]

5. "They tell us we must learn to live with less, "

and teach our children that their lives will be less full and prosperous than ours have been; that the America of the coming years will be a place where — because of our past excesses — it will be impossible to dream and make those dreams come true. I don't believe that. And, I don't believe you do either.

That is why I am seeking the presidency. I cannot and will not stand by and see this great country destroy itself. Our leaders attempt to blame their failures on circumstances beyond their control, on false estimates by unknown, unidentifiable experts who rewrite modern history in an attempt to convince us our high standard of living, the result of thrift and hard work, is somehow selfish extravagance which we must renounce as we join in sharing scarcity.

I don't agree that our nation must resign itself to inevitable decline, yielding its proud position to other hands. I am totally unwilling to see this country fail in its obligation to itself and to the other free peoples of the world."



:rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl:

[MadHound]

8. They're blaming this on the SNOW

How sad, how desperate can you get. First of all, snow is accounted for with those two magic words "seasonally adjusted". Second of all, outside of the East coast, there wasn't that much snow.

This is just bullshit excuses for the fact that we've got a piss poor economy where we've outsourced our manufacturing sector and the service sector house of cards has collapsed. So what's their excuse going to be for March bad numbers, too much rain?

[HughBeaumont]

9. You think the Private Sector's ever going to blame themselves?

They know they're slowly running out of people to blame for their failures and obstructionism, so now they're reverting to elements. Classic. Kick that can, see how far it goes.

"It's the WIND'S fault that I can't start hiring!" See, I can do that too and make about as much sense.

Maybe they should start admitting what all of us already know: that they all live by this very destructive motto:

"It's not enough that I succeed, but that everyone else must fail."

[tritsofme]

11. The unemployment rate is going to have to increase before we see any serious declines

There are just too many discouraged workers sitting on the sidelines right now, when the jobs picture improves they will rejoin the workforce and give the appearance of a higher unemployment rate.

However I'm not sure if this month's report will be as bad as this article says. The ADP report released yesterday showed the lowest decline in private employment in two years.

[upi402]

14. We needs YEARS of job GROWTH, now slower decline

we are in ultra deep shit here. we don't make stuff and it ain't going the other way anytime soon. You're right; many are partly employed, under-employed, discouraged, and poverty-wage employed. BLS doesn't report how bad it really is at all. All the BS about a soft recovery is propaganda.

[Gin]

15. wonder if Goldman Sachs bet on this

[Kingofalldems]

16. Unemployment stayed the same--oops

Someone got it wrong. Interesting sig line.

[spanone]

17. now that it's friday and the real numbers are here, how about a self-delete

seeing how this story was trumped up horseshit

[madokie]

18. How did that work out for you today :-)

'Thehill' sorta, kinda sucks you know. And it dang sure isn't the best to begin an argument with.

[Kingofalldems]

19. Bad things about Democrats

Again.