Hiring Surges in Pimps, Prostitutes and Drug Dealers

Yesterday’s unemployment report was a blockbuster... A dose of natural Prozac to the mind of the market.

The Dow closed at 12,862, a 3-year high. In fact, it was the highest in the Dow since May 2008.

Take a look:

It’s sloppy, but the Dow has also formed the same double bottom pattern (“W”) that we’ve seen in gold and silver.

Here’s a monthly chart of the Dow:

You can see the same pattern formed back at the end of 2003, beginning of 2004.

So what does this mean?

It could be a blockbuster breakout this year for stocks.

Yesterday, the Labor Department released its January unemployment report, showing that the U.S. added 243,000 jobs last month, pushing the unemployment rate down to 8.3%, its lowest level in three years.

The report was greeted with cheers, as well it should. And Obama was quick to pat himself on the back, as well he should.

However, hidden deep in the report was a shocking development that most would rather not talk about. You see, most of the employment gains came from the hiring of pimps, prostitutes and drug dealers.

That’s right: Pimps, prostitutes and drug dealers.

I’m being sarcastic of course.

But that’s how liberals and progressives greeted yesterday’s unemployment report.

I watched in amusement as they begrudgingly expressed happiness that jobs were on the rise.

It just wasn’t the jobs they wanted.

That’s because, dear reader, the oil and gas industry was the shining star in the employment picture.

The Labor Department makes this fact clear. While the total U.S. workforce has shrunk by over 4 percent since the recession hit in 2007, employment in the oil and gas sector has grown nearly 22 percent.

Take a look at how dramatic the disparity is:

The oil and gas industry employs about 2.1 million people in the U.S. directly and about another 7 million indirectly by purchasing their goods and services. And that figure is growing by the day.

And it’s not just the U.S. that’s experiencing an employment boom in natural resources.

Yesterday Canada announced its employment report too. Canada announced an increase of 2,900 jobs for January... 1,900 of which came from the oil and resource rich province of Alberta.

This coming Monday, CNBC is doing a big segment on North Dakota and the Bakken boom. It’s a must-watch-show for any investor in Bakken stocks.

The boom in the Bakken is accelerating. And along with it, social problems.

Oil production in the Bakken in North Dakota grew by an average 15,000 barrels per day each month between January and November 2011. North Dakota's shale wells produced more than 443,000 bpd in November, a record.

December’s production numbers will be released this month.  But it’s shaping up that 2011 will be a record year for North Dakota by huge margin. And 2012 looks even bigger.

According to the CNBC show that’ll air:

"It's actually become more intense," said Williston Mayor Ward Koeser. "There's been more people coming. There are more companies coming. There's more building going on. And there are more issues coming up."

In addition, even with a job, there's probably nowhere to sleep one night, let alone live.

Builders are feverishly trying to increase capacity, but right now, there is almost no vacancy. And prices reflect this.

In 2005, the average rent for a one-bedroom apartment in Willison, North Dakota? Less than $500. Today? More than $2,000 ... if you can even find one.

With a national unemployment rate still at 8.3%, some problems are good to have.

The original bull on America,

Brian Hicks
Publisher, Wealth Daily

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