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Starting A Housing Bust From Scratch

D G Wrote: Apr 05, 2013 12:09 AM
Does everyone know job creation so far in 2012 is about 20% less than same period of 2012.? (First quarter 2013 vs. first quarter 2012). We will not know exactly until BLS releases the March 2013 report tomorrow morning. Economists estimate 193,000 jobs were created in March 2013. Using that number, let's compare jobs created by month for non-farm payrolls. 2012: Jan 311,000; Feb 171,000; Mar 205,000 .... Total 687,000 2013: Jan 119,000; Feb 236,000; Mar 193,000 .... Total 548,000 The decrease in jobs created for the quarter is 179,000 or about 20%.
D G Wrote: Apr 05, 2013 9:22 AM
BLS report was issued this morning. Jan and Feb 2013 revised upward. March was disappointing.

2012: Jan 311,000; Feb 171,000; Mar 205,000 .... Total 687,000

2013: Jan 148,000; Feb 268,000; Mar 88,000 .... Total 504,000

The decrease in jobs created for the quarter is 183,000 or about 27%.

Labor participation rate sank sharply as about 500,000 people dropped out of labor force. Labor participation rate is now at its worst since 1979.

Growing up in Harlem in 1977 everyone felt there was serious racial discrimination by banks with branches in the neighborhood. There is no doubt getting a loan was impossible even if you had an account at the bank and a steady job.

Fast-forward to 2007 and the start of the Great Recession and everyone in my old neighborhood in Harlem felt there was serious racial discrimination by banks with branches in the neighborhood for making loans too easy to get. Even people that didn't have bank accounts or a steady job often were able to live the American dream with no...

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