Wednesday, May 11, 2011
Treasury Receipts Confirm Household Employment Survey
April 2010. April 2011. You are looking for HI receipts for April on page 6.
There was a YoY gain of 2.2%, but that is quite shocking when compared to March's YoY gain of over 5% YoY. I can only view this as indication that the rapidly rising initial claims numbers indicate rising unemployment, which was shown by the Household Survey ( -190,000 jobs ) last week.
It also seems very likely, looking at the "self" vs "wage" figures for March and April, that the havoc lies in small businesses that are being beaten down by cost increases. They're probably just giving up. I usually use the "self" returns as a proxy for small businesses. In this case, small service businesses.
This is a very large sample size of 100%, so I would take it seriously and start moving your assets to high ground. I do not think the good establishment survey figures for April jobs now hold any credibility - the net B/D adjustment NSA was 175,000. Additionally, it is hard to reconcile the gas supply(consumption) figures with growing employment.
while adjusting for changes in the money supply ?
That should show economic health right ?
I'm getting an error when clicking on your "April 2010" and "April 2011" links. The links don't look mangled though. Perhaps the server is down.
Something must be done or the conspiracy theories will meet up with the Mayan calendar theories. The last thing we need is a double whammy.
If it's moving, it's the product of money being spent.
Mark - Treasury is down a lot.
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