Reuters Writes: U.S. job growth weakest in three years
WASHINGTON (Reuters) – U.S. employers hired the fewest workers in almost three years in December, but the setback was likely to be temporary amid signs that cold weather conditions might have had an impact.
Nonfarm payrolls rose only 74,000 last month, the smallest increase since January 2011, and the unemployment rate fell 0.3 percentage point to 6.7 percent, the Labor Department said on Friday. The unemployment rate was the lowest since October 2008 and in part reflected people leaving the labor force.
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WOW. Really? Due to cold weather? I am shocked.
The real reason behind this is rotten fundamentals of the US Economy that are getting worst by the day. Please don’t get me wrong. I am acutely aware of how the US Government and our financial media “propaganda machine” portrays recent gains in the stock market. According to them the economy is doing great, everyone should join hands and sing kumbaya as the stock market takes off to infinity and beyond. Making us all wealthy in the process.
Yet, the reality is quite different. Even thought they have pumped a tremendous amount of money into the economy, it is getting weaker by the day. There is no pricing power and businesses are not hiring due to uncertainty. I continue to see this in the quarterly reports that I read. No matter what they want you to believe, the jobs are not coming back anytime soon. In addition to poor economic conditions, productivity gains, outsourcing, technological advances and even robotics are all taking a tall on real job creation.
The bottom line is this. If you have a good paying job….treasure it. If you don’t, try to get whatever you can. As the bear market starts in 2014, corporations and businesses throughout the US will hand out pink slips by the million. Just as they did in 2000-2004 and 2007 – 2010. I wish that wasn’t the case, but the reality can be harsh sometimes.
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Why cant dec 31 2013 dow 16,588 be the top and dec 31 2016 dow4,000 be the bottom. please tell me your dow targets. thanks alex
Hi John,
Thanks for your question. I am not sure if understood your question correctly, but I will try to answer anyway. Why? The market has a hidden structure within itself based on both price and time. It must hit that point before reversing itself and going down. That point is coming up shortly for the Bull Market we are currently in. There isn’t that much room left on the upside. In terms of the upcoming bear market….it will bottom in 2017 around 9000 on the DOW. The structure of the down move will be very similar to 2000-2003 bear market. I hope this helps. If you have any other questions, please let me know.
Or…you can learn a little bit more about timing here https://www.investwithalex.com/timed-value/
I do eilliot wave math and came up with this dow 4,000.
M5 2007 14198.10
MA 2009 6469.95
MC 2016 4000
14198.10-6469.95=7728.15×1.618=
Pts loss of 12504.1467-16588=4083.8533
Dow jones target. alex your math is great wow but dow 4,000 is real my friend alex.
Hi John,
I am well aware of elliot wave, but their work is too simple. They got a small part of how the market truly works (maybe 5-10%) and they apply it to everything. I wish that was the case, but its not. The market is a lot more complicated then 1.61 and 5-3 waves. If it wasn’t, they would be making a ton of money. For example, why are you using Fibonacci number in this case? There is no president in LONG TERM bear markets that indicate that bear markets develop into an easily predictable spiral. EW has a very poor track record here. Think more 1968-1982 bear market, not a complete collapse.