"job losses over the summer were worse than first reported.... employment data reported over the summer may have underestimated the weakness of the labor market.... Monthly state employment figures are estimates...."
Translation: EVERYTHING the GOVERNMENT and MSM have been "reporting" has been a LIE!!!!!!!!!
Also see: Not Making It in Massachusetts
Massachusetts' Economic Magic
A picture says it better than I can.
Yup, THAT'S WHAT the BOSTON GLOBE BUSINESS PAGES have been doing to you for MONTHS, readers!
Didn't work.
"Downturn isn’t over yet for Bay State; Latest numbers change predictions for Massachusetts" by Robert Gavin, Globe Staff | November 15, 2009
The Massachusetts economy seemed to have begun a turnaround this summer as employment losses in August diminished to just a few hundred statewide. With the national job losses still mounting, it appeared the state would emerge from the recession sooner than the nation as a whole.
It was a lying mirage of BG you-know-what, readers.
September data, however, changed that outlook. Massachusetts shed more than 9,000 jobs that month, the most since April. Other data, such as plunging state tax collections, also suggested the economy was weakening.
And yet GOVERNMENT reported a roaring 3.5 percent growth last quarter.
Meanwhile, Massachusetts wasn’t getting much of a boost from stimulus programs such as “cash for clunkers,’’ which offered owners of old cars and trucks cash toward a new, more fuel-efficient vehicle, because of its minuscule automobile sector.
Right, we didn't benefit from the "clunker program!"
And WHAT ELSE, agenda-pusher?
State Lied About Stimulus
Slow Stimulus
Yeah, thanks for the OMISSIONS, BG!
As a result, it now appears the state will lag behind the national rebound by three or four months, according to a recent forecast by the New England Economic Partnership, a nonprofit research group. The US economy grew at a 3.5 percent annual rate in the quarter ended Sept. 30, while the state economy shrank at a 1.1 percent rate, according to reports from the US Commerce Department and University of Massachusetts.
So odd that ALL the STATES CONTRACTED bu the NATION GREW, isn't it, America? Yeah, keep digging, BG!
“The data was telling a different story this summer,’’ said Michael Goodman, economic analyst and professor of public policy at the University of Massachusetts-Dartmouth. “September seemed to mark a reversal of fortune.’’
Or WE WERE LIED TO because I'VE BEEN ALONG the WHOLE WAY!!!!
The steep job losses in September suggest that employment data reported over the summer may have underestimated the weakness of the labor market, analysts said. Monthly state employment figures are estimates based on a survey of businesses. The data can swing widely from month to month, and are frequently revised as more information is gathered from employers.
Translation: ALL THESE MONTHS or "news reports" have been NOTHING BUT a HUGE, STEAMING STINKING PILE of CRAP!!!!!!!!!!!
When the data are comprehensively revised at the beginning of next year, they are likely to show that job losses over the summer were worse than first reported, said Alan Clayton-Matthews, a Northeastern University economics professor. Declines in payroll withhold ing tax collections suggest more people may have lost jobs than were counted in the monthly employment reports.
Related: Massachusetts on the Mend
Massachusetts entered the recession about four months after the national downturn began in December 2007....
Yeah, and WHY DID the NEWS MEDIA not tell us until OCT. 2008, huh?
The BSing seems to be a PATTERN!!!!
***********************
But the disappointing September report showed the state’s economy was taking a different path. Having entered the recession later than the nation, it appears the state will emerge later, too. The Massachusetts economy is forecast to begin a turnaround in terms of production this month or next, about four months after the US economy.
“We took the hit later,’’ Clayton-Matthews said, “and we’re lagging on the way up, too.’’
This PoS lying puke! Yup, he's a Globe source, all right!
Except for the timing, the state recession will largely mirror the national downturn in depth and duration, each lasting about 20 months and resulting in the loss of about 6 percent of jobs, according to the New England Economic Partnership forecast.
As if it is a DONE DEAL and the RECESSION is OVER, huh, MSM LIARS!!!????
Related: What Type of Recession Is It?
From Recession to Depression
"Economist sees 13% US jobless rate" by Bloomberg News | November 10, 2009
WASHINGTON - The US unemployment rate may rise to a post-World War II high of 13 percent in the aftermath of the recession, said David Rosenberg, chief economist at Gluskin Sheff & Associates Inc. in Toronto.
Then it is NOT an AFTERMATH it is a CONTINUING THING, isn't it?
“This is going to be the mother of all jobless recoveries,’’ Rosenberg, one of the first to forecast the recession, said yesterday. Rosenberg said the economy is “in a post-bubble credit collapse.’’ A 13 percent unemployment rate would be the highest since monthly records began in January 1948. Yearly records, which began in 1929, show joblessness climbed to almost 25 percent in 1933....
And if you consider the fact that the numbers are deliberately skewed lower, WE ARE THERE, America!!!
The GRAND DEPRESSION of 2009!!!!
The US economy could rival Japan’s so-called lost decade of the 1990s, Rosenberg said. “This has some prints of Japan in many respects,’’ where growth stagnated for years and prices fell. Rosenberg was Merrill Lynch’s top North American economist from 2002 to earlier this year.
I guess he would know what is coming.
--more--"
Yeah, you agenda-pushing, cheerleading liars never listened.
That’s still better than the last two recessions, when the downturn in Massachusetts was longer and job losses greater than the nation’s. The recession that began in 2001, for example, lasted two years in Massachusetts, compared with months nationally, while the state shed more than 6 percent of jobs, compared with about 2 percent nationally. That recession was led by a technology collapse, which hit Massachusetts’ tech-heavy economy particularly hard.
Yeah, YOU GOT IT GOOD, Massachushitts, so WHY are you complaining?!!!!
And WHY SHOULD I BELIEVE their account of the past anyway?
ONCE a LIAR....!!!
Massachusetts tends to lag behind the nation because its economy relies more on business spending than consumer spending, Clayton-Matthews said.
The BULLSHIT EXCUSES never stop, do they?
One day it is manufacturing that does us, blah, blah, blah!!
Whatever shit stick is handy, 'eh, MSM flackers?!!!!!!!!
The state has a high concentration of companies that sell equipment and services to other businesses, which typically wait for consumer demand to pick up before investing in technology, software, and other products.
But the government can RAISE TAXES!!!
Gee, then we are JUST CAUGHT in a VICIOUS CIRCLE since CONSUMERS are CUTTING BACK in light of FURTHER JOB LOSSES, huh?
Earlier this summer, it appeared that demand was picking up....
Only for ONE GROUP: Here Comes Santa Claus' Sleigh
You were BEING LIED TO by the PAPERS, readers, sorry.
In another good sign for Massachusetts, exports were increasing. The state has many companies that sell in foreign markets.
Yup, you are BUILDING THINGS for OTHER PEOPLE -- much as WESTERN CORPORATIONS EXPLOIT THIRD-WORLD NATIONS, America!
Welcome to the NEW ECONOMY -- as planned by the SAME PEOPLE PROMISING to "FIX IT!"
“But just because sales were improving doesn’t mean businesses were hiring,’’ Clayton-Matthews said. “They were still cutting costs and squeezing more productivity from existing employees.’’
--more--"
Related: The AmeriKan Slave
Yeah, or they are MOVING OUT!!!
EMC Moving Out of Massachusetts
Game Report: Mass. Loses to Michigan
"Preppy clothing seller Abercrombie & Fitch Co. plans to add new items at lower pries and continue to expand internationally -- where sales are stronger than the United States -- to combat declining profit as the US economy remains weak (Boston Globe November 15 2009)."
Related: "higher-than-expected earnings at Abercrombie & Fitch Co."
Pffft!
So which one is the lie, Globe?
Also see:
MSM Manufacturing an Economic Recovery
MSM Manufacturing an Economic Recovery (Part II)
Economic Recovery Missing Massachusetts
Slow Saturday Special: He's Got High Hopes
A plan for getting by, working less
I'm tired of being insulted and lied to aren't you, readers?
I look forward to the day the Globe is no more.
