{"id":188230,"date":"2010-11-06T19:52:00","date_gmt":"2010-11-07T00:52:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/11\/06\/so-the-nfp-numbers-came-out-yesterday\/"},"modified":"2010-11-06T19:52:00","modified_gmt":"2010-11-07T00:52:00","slug":"so-the-nfp-numbers-came-out-yesterday","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/11\/06\/so-the-nfp-numbers-came-out-yesterday\/","title":{"rendered":"So, the NFP Numbers Came Out Yesterday"},"content":{"rendered":"<p>The Non-Farm Payroll report for October came out Friday, and it was <a href=\"http:\/\/www.washingtonpost.com\/wp-dyn\/content\/article\/2010\/11\/05\/AR2010110507116.html\">much better than expected<\/a>, growing by 151,000 jobs, much better than the forecast of 70,000 with unemployment (U-3) remaining at 9.6%, while the <a href=\"http:\/\/www.bls.gov\/news.release\/empsit.t15.htm\">broader U-6<sup>*<\/sup> fell by <sup>1<\/sup>\u2044<sub>10<\/sub> of a percent to 17%<\/a>.<\/p>\n<p>Even more significantly, it is more than the 125-150 thousand required to meet the natural increase in the workforce, meaning that at current rates, using the lower growth number, it would only take <span style=\"font-weight: bold;\">26\u2154 years<\/span> for us to recover our job losses since Wall Street imploded.<\/p>\n<p>By my math, this still qualifies as a jobless recovery, particularly since the <a href=\"http:\/\/blogs.wsj.com\/economics\/2010\/11\/05\/broader-u-6-rate-at-17-the-long-term-unemployed-and-the-dark-side-of-jobs-report\/\">total labor force has been shrinking as workers have become discouraged or otherwise left<\/a>.<\/p>\n<p><sup>*<\/sup><span style=\"font-size:78%;\"> &#8220;Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force.&#8221;<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Non-Farm Payroll report for October came out Friday, and it was much better than expected, growing by 151,000 jobs, much better than the forecast of 70,000 with unemployment (U-3) remaining at 9.6%, while the broader U-6* fell by 1\u204410 of a percent to 17%. Even more significantly, it is more than the 125-150 thousand &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,975],"tags":[],"class_list":["post-188230","post","type-post","status-publish","format-standard","hentry","category-economy","category-employment"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/188230"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=188230"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/188230\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=188230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=188230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=188230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}