Motley Fool Money: 12.04.2009
Motley Fool Hidden Gems Investing
The Motley Fool
4.3 • 3.1K Ratings
🗓️ 4 December 2009
⏱️ 20 minutes
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| 0:00.0 | Welcome to Lonely Full Money, I'm Chris Elham, and I'm on this full senior analyst, Seth |
| 0:09.2 | Jason, James Early, and Shannon Cervicus. Happy Friday. Happy Friday, you ready? |
| 0:14.0 | On today's show, we've got Comcast making a big play in the battle for your living room. |
| 0:19.4 | We've got the Fed Chief trying to get a job extension, and we've got Tiger Woods trying |
| 0:24.3 | to get out of the rough. But guys, let's start with the big macro. Big news is the unemployment |
| 0:29.4 | rate in November fell unexpectedly to 10 percent down from 10.2 percent. President Obama |
| 0:36.1 | called it the best jobs report since 2007. Shannon, that seems like kind of a low bar to |
| 0:42.4 | clear. Exactly right, which is why he cleared it. It is the best jobs report since 2007, |
| 0:48.5 | and you look at it a little more closely, and it really does seem to be legitimately |
| 0:52.3 | good news. Unlike, for instance, the little blipdown that we got back in July, which was |
| 0:55.9 | quickly reversed, and unemployment rate began to tick back up again, because it was some |
| 1:00.0 | statistical anomaly. This seems to be really good news. On a net basis, only 11,000 jobs |
| 1:05.6 | were lost last month that's compared with the hundreds of thousands of jobs that we've |
| 1:09.2 | shed since 2007. And if that is sustainable, I have some questions about whether or not |
| 1:14.0 | it is. That's excellent news. I don't buy it. I don't buy it. You're not buying it. |
| 1:19.2 | I agree with Shannon that if it were sustainable, and if it were real, it would be good news. |
| 1:23.9 | ADP, which has a broader measure, and is statistically considered a superior measure |
| 1:30.3 | of what's going on, has the opposite information. This 11,000 number, I don't know if you should |
| 1:34.7 | really believe that, because these numbers are routinely changed the following month |
| 1:39.6 | by up 60, 70,000 jobs. And the other thing is that the unemployment number, I mean, just |
| 1:44.2 | think about it on the face of it. You lose jobs anyway, but the unemployment number somehow |
| 1:49.4 | gets less. This is based on a survey, and that's the whole point. The ADP survey is considered |
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