New York, NY (PRWEB) April 16, 2012
March, U.S. employers added only 120,000 jobs, well below analyst estimates of 205,000, according to Michael Lombardi, lead contributor to popular financial newsletter Profit Confidential. The analyst wasn’t surprised by the weakness of this jobs growth, because it is a reflection of the weaker economic data he’s forecasted.
In his recent Profit Confidential article, Pathetic Job Numbers Expose “Fake” Economic Recovery, Lombardi highlights that, of the 120,000 in jobs growth in March, 31% was in the low-paying food services and drinking places category.
“The jobs growth is not putting pressure on wages, which confirms that people are taking any job they can, not necessarily good ones,” says Lombardi.
Lombardi is also concerned that more people fell out of the labor force and were not counted by the Bureau of Labor Statistics—more discouraged workers. “The number of people that are no longer considered part of the labor force by the Bureau of Labor Statistics has reached a record in March of over 88.288 million people,” says Lombardi.
Lombardi believes that, if more people are falling out of the labor force, it is because jobs are becoming harder to find, putting into question the current jobs growth. “Certainly, this is a reflection of this recession—and supposed jobs growth recovery—that is five years running now.”
With little jobs growth, no increase in wages and low-paying jobs still accounting for too large a fraction of the jobs growth, Lombardi wonders how this can be considered a recovery.
“The answer is that there is no real recovery, just rising government debt, artificially low interest rates, and an unprecedented increase in the money supply,” says Lombardi.
Profit Confidential, which has been published for over a decade now, has been widely recognized as predicting five major economic events over the past 10 years. In 2002, Profit Confidential started advising its readers to buy gold-related investments when gold traded under $300 an ounce. In 2006, it “begged” its readers to get out of the housing market... before it plunged.
Profit Confidential was among the first (back in late 2006) to predict that the U.S. economy would be in a recession by late 2007. The daily e-letter correctly predicted the crash in the stock market of 2008 and early 2009. And Profit Confidential turned bullish on stocks in March of 2009 and rode the bear market rally from a Dow Jones Industrial Average of 6,440 on March 9, 2009, to 12,876 on May 2, 2011, a gain of 99%.
To see the full article and to learn more about Profit Confidential, visit http://www.profitconfidential.com.
Profit Confidential is Lombardi Publishing Corporation’s free daily investment e-letter. Written by financial gurus with over 100 years of combined investing experience, Profit Confidential analyzes and comments on the actions of the stock market, precious metals, interest rates, real estate, and the economy. Lombardi Publishing Corporation, founded in 1986, now with over one million customers in 141 countries, is one of the largest consumer information publishers in the world. For more on Lombardi, and to get the popular Profit Confidential e-letter sent to you daily, visit http://www.profitconfidential.com.
Michael Lombardi, MBA, the lead Profit Confidential editorial contributor, has just released his most recent update of Critical Warning Number Six, a breakthrough video with Lombardi’s current predictions for the U.S. economy, stock market, U.S. dollar, euro, interest rates and inflation. To see the video, visit http://www.profitconfidential.com/critical-warning-number-six.