Hah... the stakes just keep getting raised. Do you bet black or red? After all that is what the stock market has become... a day to day parlor bet based on headline news, what Obama will announce, what Bernanke will announce, what some official you've never heard of in Europe will say, what China will do with its daily commodity binge, or what an economic report will come in at. Our attention span has been morphed into that of a 4 year old playing video games as yesterday is forgotten and long term is 8 hours from now.
Here is the latest fun guestimate from Realmoney.com! I forgot to add in a good 50K jobs from oil spill myself. Maybe if we do an oil spill and census every month from here until 2012 we can have even more nirvana. Just imagine all the jobs created by an oil spill in the Atlantic, one in the Pacific and a third in the Gulf coast. Zoom zoom!
Robert Marcin Jobs Whisper 6/3/2010 1:27 PM EDT
I saw a report that cited 800,000 jobs as a possible number for tomorrow. Included were the huge census hiring at 500,000 and the private sector up 300,000 from a large positive birth-death adjustment and oil spill clean-up. If real private sector hiring is 150,000, then maybe we get 900,000 jobs reported tomorrow.
Perhaps that's what Biden and Obama were referring to yesterday when they cited improvement in the jobs report. What remains to be seen is how investors will treat a completely phony 900,000 jobs report.
If you are new to the site here is my take on what reality is on America's employment data [Apr 3, 2009: Real March Unemployment Rate Reaches 12.5%] [Oct 2, 2009: True September Unemployment in America Reaches Towards 14%; Our System is Broken]
And if birth death makes no sense to you, read on: [Jan 27, 2008: Monthly Jobs Report & Birth Death Model]
If you don't want to do all that reading truly this is all you need to know - we're becoming Greece as government or government/tax dependent jobs (healthcare, education) swamp the private sector. Ship a job to Chindia and add one in healthcare. Or federal government. Rinse, wash, repeat. Prosper.