Recently by Robert Wenzel: ‘I Get Up Every Morning Thinking I Am Going To End Capitalism’

More evidence that Fed money printing is creating a manipulated boom.

Last week, Gallup released results of its Job Creation Index for the 50 largest metropolitan regions in the United States. The results showed that companies in every city were hiring more often than they were firing. 24/7 Wall St. reviewed the nine U.S. metropolitan regions where workers think hiring is strongest.

The Job Creation Index scores assigned by Gallup reflect the difference between the number of workers reporting their businesses were hiring compared to those who believed people were being let go. According to the report, the below nine cities received Job Creation Index scores of 20 or better, meaning the percentage of employees who believed their companies were hiring was at least 20% more than those who believed their employers were looking to makes cuts to the payroll. As you will note, it is all about high technology, government and oil – all sectors that are among the first to experience the flow of newly printed Fed money.

9. San Jose-Sunnyvale-Santa Clara, Calif. > Job creation index: 20 > Unemployment rate (Jan. 2012): 9.1% > Change in unemployment (Jan. 2011 – Jan. 2012): -15.7%

8. San Antonio, Tex. > Job creation index: 20 > Unemployment rate (Jan. 2012): 7.3% > Change in unemployment (Jan. 2011 – Jan. 2012): -6.4%

7. Houston-Sugar Land-Baytown, Tex. > Job creation index: 20 > Unemployment rate (Jan. 2012): 7.6% > Change in unemployment (Jan. 2011 – Jan. 2012): -12.6%

6. Atlanta-Sandy Springs-Marietta, Ga. > Job creation index: 20 > Unemployment rate (Jan. 2012): 9.2% > Change in unemployment (Jan, 2011 – Jan. 2012): -10.7%

5. Orlando-Kissimmee, Fla. > Job creation index: 21 > Unemployment rate (Jan. 2012): 9.5% > Change in unemployment (Jan. 2011 – Jan. 2012): -15.2%

4. Nashville-Davidson-Murfreesboro-Franklin, Tenn. > Job creation index: 22 > Unemployment rate (Jan. 2012): 7.2% > Change in unemployment (Jan, 2011 – Jan. 2012): -18.2%

3. Richmond, Va. > Job creation index: 22 > Unemployment rate (Jan. 2012): 6.6% > Change in unemployment (Jan. 2011 – Jan. 2012): -13.2%

2. Pittsburgh, Pa. > Job creation index: 22 > Unemployment rate (Jan. 2012): 7.6% > Change in unemployment (Jan 2011 – Jan. 2012): -6.2%

1. Oklahoma City, Okla. > Job creation index: 25 > Unemployment rate (Jan. 2012): 5.9% > Change in unemployment (Jan. 2011 – Jan. 2012): -3.3%

Reprinted with permission from Economic Policy Journal.

2012 Economic Policy Journal

The Best of Robert Wenzel

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