POLL: Job Report

If you follow headline news, then we don’t have to tell you about the kind of hit that the recent job report had on the major markets today. OUCH. Today the DJI fell 253.31 points, the S&P 500 lost 30.45 points, and the Nasdaq fell 65.71 points.

The government estimated the economy added no jobs at all in August, and the unemployment rate was unchanged at 9.1%. The recent job report was a definite letdown for investors today, so we want to know....

Where do you think the US unemployment rate will be at the end of 2011?

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As always, we would love to hear your thoughts on this current situation or even where you think things may go from here. Be sure to share in our comments section!

Every Success,

The MarketClub Team

19 thoughts on “POLL: Job Report

  1. Kennedy initiated the space program, Reagan promoted SDI and these programs had a profound effect rocketing us to world leadership in technology. There were new industries sprouting everywhere and there was a shortage of job seekers. That was the USA 1960-1990.

    The world has changed slightly since then. Now we eagerly await the announcement of a new "jobs" program from the teleprompter this week. Are we going to create new industries by fixing potholes? The communists have tried this numerous times and have proven that these proletariat jobs only result in uncontrolled inflation which is a legal way for the government to steal from its citizens.

    How do we solve the probem? Less government and less regulation. We need to have an unemployment problem in Washington!

  2. Agree with all of that. At the same time more money will be entering the system through Q3,4,5..... on a manufactured yield curve allowing for record profits and bonuses at our financial institutions.

  3. As long as you're blaming either the "liberals" or "the GOP,"--openly or silently--you're thinking with your glands instead of your brain. You want to debate whether Mommy wasted more money on that new handbag than Daddy blew at the racetrack, while the sheriff's pounding on the door with the eviction notice? It doesn't matter; you're bankrupt; you're foreclosed. And you're right where Washington and its puppeteers want you: easily manipulable based on your emotional reactions. They can get you all riled up to support more government intervention of some sort, which, whatever form it takes, will mean more debt, more taxes, more restrictions, and less service. Cutting the marginal income tax rates while borrowing ten trillion dollars for foreign wars is NOT fiscally conservative. Losing trillions of public money through federally-backed mortgages that extend "the dream of home ownership" to anyone with a pulse is NOT socially responsible. They ALL voted for the wars, the foreign aid, the bailouts, and sending our jobs overseas. Anything that comes out of the current bunch of clowns in D.C., from either party, especially in response to the crisis du jour, is almost certainly a wrong turn. They need to JUST STOP SPENDING. The field of Economics as practiced today is a load of crap; just a facade to add an air of legitimacy to the shell game, like a celebrity greeter at a Vegas casino. It can be used to justify ANYTHING. Throw the bums out and vote for anyone who promises to cut all spending across the board, excepting no sacred cows whatsoever--including the Pentagon, Israel, free birth control pills, national parks, and NPR. We must have EQUAL PERCENTAGE reductions to every department and every program. It doesn't matter how much you like it or how vital the Bible and your sociology professor told you it is; we are broke and we can't afford it. If you can't handle that, then you don't deserve a better economy.

  4. The real unemployment rate, if you count all the people who have lost jobs and have given up looking or are underemployed, is more than double the phony 9% numbers the government puts out. (Likewise, does anyone who has been to the grocery store or gas station lately think we have anything less than 9-10% inflation?)

    If we actually ended all the wars we have been fighting for more than a decade and brought the troops home, what would the unemployment rate be then? No chance of that, of course, but it is worth considering. Joining the Army is one of the few jobs available to many people nowadays.

    I hear endless talk about how we need more "jobs" and very little about exactly how these "jobs" will be created. We do hear that the "big companies" are sitting on huge amounts of money but are "waiting to invest". Actually, the big multi-national companies, which have exported most of our industrial base to places where labor is much cheaper and there are no environmental protection laws, is still busy investing in THOSE place, not here in the US, where the price structure continues to rise but not wages.

    This is wiping out what is left of the middle class. We used to make jokes about banana republics where a few people owned everything, well guess what, 400 Americans now sit on more total wealth than does the 150 million people who make up the lower economic classes in the US, half of the 100 million US households have less money thant a few hundred households, and it is getting worse my friends . . .

    So don't hold your breath for a rise in "consumer spending" because most of the consumers out here are trying to figure out how to just make ends meet. I don't think the 400 families can make up for this, even though the demand for extreme luxury items seems to be holding up . . ..

  5. Election year politics will cause a "reported" decrease in unemployment. The party in power manipulates the stock market to the extent it can and also any other statics includeing the unemployment.

  6. yes,i think this can be take in care by only one person thats is anil selarka,in his book sub prime resolve,but its possibel only when mr president and his teams read it,can some one arrange for him.

  7. Hi John,

    I have to tell you it's not the GOP that will be to blame for unemployment. OB has been president for almost 3 years. He and his democratic congress supported the wars, tarp, the stimulous and the socialist policies of taking over private companies. The republicans just took control of the House. They do not control both houses, yet. Had you seen any improvement in the first two years he was president? He has passed Obamacare and so many regulations that hurt businesses instead of help. Please explain to me how the GOP can be blamed for zero jobs reported for August. Who went on vacation during almost every hard time that the USA has faced? OB even appointed a jobs czar who is the CEO of general electric. He farmed out thousands of job to China. Is this the GOP's fault?

    He has placed our country in great debt, let the housing market drop, created no additional jobs and continues to want more money and regulations to control businesses.

    Take your blinders off and do some research.

  8. Hi John Crosier,

    What kind of koolaide have you been drinking? He's been president for almost three years now and two years with a dem run congress. Oh, I know, it's Bush's fault......still. Bush also had a democrat run congress who voted for the wars, the tarp and the stimulus. Did you know that ob's job's czar, ceo of general electric, shipped jobs overseas? And he is in charge of jobs in the good old USA. Please think about it, take off your blinders and get out of that fetal position. Are you a member of a union, have a government job by chance or maybe you are a professor.

    It is the socialists who are trying to bring down our country.

  9. I think it's time to be very careful in the market. Next week we should know.
    Above 1240 - still okay.
    Below 1143 - bearish, good place for stops
    below 1100 - I want to know what to short
    above 1332 - Long - be prepared with watch list

    Companies should bring jobs back to US. Heavy taxes on every US listed company which has foreign employees overseas. T admits they can bring 5000 jobs back to US. They should be made to do so even if they don't get their merger.

  10. The skewed unemployment rate to exclude those who have not found employment is a lie that some economists want to hide the realities and governments find convenient. Recession is already in place but all the tricks in the book are being thrown at it. QE3 will happen soon as government and the fed have run out of all other options.

    They should have allowed the true recession to have hit in 1994 in stead of looking for more votes. Remember election year is looming!!!

  11. Companies I am around actually need to hire more help. we each are doing the work many people used to doing in many industries. As long as this regime wants to punish achievement companies will not hire new people. They are scared to actually grow because they will be taxed and punished. What liberals don't understand is companies don't pay more taxes, it is passed on to the consumer through higher cost of goods and services. So they will continue to keep their capital until the future is more certain. The so called rich are the ones who spend monoey and create jobs tax them more and more and they will quit creating jobs and just hang onto their money. I know some of those people, thats not talking points, its reality. I agree with Mike. Well said, I don't need to repeat it. John read what you wrote it makes no sence. Higher unemployment will help the GOP. I don't think anything will help the current administration.

  12. It amazes me that no one is talking about bringing jobs back on shore, manufacturing jobs that have been sent around the world and we import back. I do understand the cost of what we buy would cost a little more if we made everything in the good old USA, but with the jobs generated it would not take long before the costs vs. wages equaled out.
    Let’s support Americans today and not all the other countries around the world who don’t buy much from us.

  13. The unemployment rate of 9.1% is the best case scenario. There are, according to the BLS "About 2.6 million persons were marginally attached to the labor force in August, up from 2.4 million a year earlier" Those 2.6 million are not included in the unemployment rate. There are 8.8 million underemployed, who are those that can't find full-time work, but want to work full-time. When those two groups are considered, the more "real" unemployment rate is 16.2%. If you look at John Williams' shadowstats.com, the underemployment rate is about 22%. the 9.1% stat is very misleading and it doesn't reflect reality.

  14. I think the GOP will do anything to win next election and that includes trying to keep employment down
    and keep investers from investing, if they can.

  15. Its already well above 9.1%

    Just because someone has "stopped looking" for a job, doesn't mean that they are not "unemployed".

    U.6 is over 16%

  16. I have to vote for below 9.1% because Obama is going to tell us about his jobs growth plan next week. It has to be so good that it was postponed for a vacation to rest up before campaigning for it when it is revealed. You know it takes a lot of energy to go around pitching it by reading off the tele-prompters and asking for billions more to implement a plan.

  17. This isn't even rubberband powered airplane science.

    No jobs, declining middle class wages for a decade = less discretionary
    money to spend.

    Inflation far higher than 'official adjusted rate' = less money for necessities.

    More foreclosures and bankruptcies.

    Less money available for consumer purchases = fewer sales of products, lower margins & profits, higher risks.

    Resulting in few new jobs, more layoffs, more outsourcing.

    And the vicious cycle rolls on.

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