MSM Hype: Unemployment Rate Drops To 8.3%! – Grim Reality: Thanks To 1.2 Million People Dropping Out of Work Force In One Month…
Don’t buy into today’s BS unemployment rate drop the MSM and the Dems have been crowing over. And yes, you read the headline correctly, a stunning 1.2 million Americans dropped out of the work force during December alone artificially lowering the official unemployment rate.
To make matters worse, the jobs gained are classified as “low-wage jobs.”
Via Zero Hedge:
A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is to crush the labor force participation rate to about 55%. Looks like the good folks at the BLS heard us: it appears that the people not in the labor force exploded by an unprecedented record 1.2 million. No, that’s not a typo: 1.2 million people dropped out of the labor force in one month! So as the labor force increased from 153.9 million to 154.4 million, the non institutional population increased by 242.3 million meaning, those not in the labor force surged from 86.7 million to 87.9 million. Which means that the civilian labor force tumbled to a fresh 30 year low of 63.7% as the BLS is seriously planning on eliminating nearly half of the available labor pool from the unemployment calculation. As for the quality of jobs, as withholding taxes roll over Year over year, it can only mean that the US is replacing high paying FIRE jobs with low paying construction and manufacturing. So much for the improvement.
Posted by ZIP on Friday, February 3, 2012, at 10:42 am | 
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Thank God Uncle Omar was still able to retain his position at the liquor store. That was a nail-biter.
The seasonally unadjusted data from the govt report today says that 2,689,000 jobs were lost from Dec 2011 to Jan 2012 (see Table B-1. Employees on nonfarm payrolls by industry sector and selected industry detail).
As with every statistic coming from this administration, it is bogus, a fabrication, meant only for the Media to use to promote Obama in the election.
The only incredible thing here, is that they have the nerve to post these numbers, and still let on that they removed 1.2 million people from the workforce.
They must think that we are not paying attention.
So what would putting these 1.2 million people back into the calculations do to the unemployment rate?
Has anyone run those numbers?
Did this originate from Recdep or Propdep?
They can spout all this crap all they want. Four people just got laid off from my employer today. That’s reality.
The lying arm of the democrat attack apparatus is now going into full swing.
O’bammy cain’t run on *his* record so watch for the vilification of his opponents at any cost. Even Mother Theresa would be a target if she were still with us.
Look for every citizen to become a victim of splattered mud from the coming fracas. Rational hearing will become a target as well.
Maybe I will consider hibernation until early November…
And how many did they eliminate from the “labor force” last month? Wasn’t it something like 500k?
All the while, real unemployment (u6) is over 15%. Real inflation is running a shade over 10%. And CBO predicts annual GDP growth of 2% for this year.
Good thing the msm is discussing the real issues, like Romney’s tax rate and Gingrich blowing magical dog whistles.
The U.S. economy created jobs at the fastest pace in nine months in January and the unemployment rate dropped to a near three-year low, offering a hopeful sign for hiring in the year ahead.
http://www.bls.gov/news.release/empsit.nr0.htm
@Grass Mud Horsey
see here: http://www.zerohedge.com/news/implied-unemployment-rate-rises-115-spread-propaganda-number-surges-30-year-high
Having reviewed the data up the ying yang, the Obama administrations propaganda is fuzzy math at best.
According to the Bureau of Labor statistics, since Feb. 2010, when Obama starts measuring his claim that 3 million jobs were created, the amount of people employed has only increased from 138.66 million to 140.79 million, a net increase of only 2.13 million. While that sounds nice, that is a pace of just 96,000 a month, which does not even keep up with the growth of the population — which grew at a pace of 163,000 a month — let alone replace the 8 million jobs that were lost in the recession.
@TZ- many thanks.
And soetero is a stuttering clusterf**k of a miserable failure.
Newsbusters called this a few months ago. the MSM will find ways to flat-out lie about the economy and unemployment in order to serve the best interests of BHO.
Spread the word on this loud and clear.
Lies, lies, and more lies to get the pos reelected.
The mfm is in full attack mode now.
I repeat this a lot.
Historically, elections hinge on 2 main issues, war and the economy.
Whether we like it or not, bs has the war subject pretty much where he wants it. Now he’s got to convince us not to believe our lyin’ eyes.
On the day everyone who wants a job drops out of the labor force, the unemployment rate will officially be ZERO%. All hail The MESSIAH!
BTW: Has anyone seen Obama’s campaign ad: “African Americans for Obama”? Can’t wait to see the MSM go into convulsions when the GOP nominee launches his campaign ad: “European Americans for _____” TV screens will melt!
Are we really talking about the baby boomers coming out of the labor force? This WAS expected regardless if there was a recession or not….
Low paying jobs??? SERIOUSLY? For anyone that doesn’t have a job, ANY paying job is a good one.
http://www.zerohedge.com/news/final-nail-todays-nfp-tragicomedy-record-surge-part-time-workers
http://www.zerohedge.com/news/implied-unemployment-rate-rises-115-spread-propaganda-number-surges-30-year-high
http://www.zerohedge.com/news/nonfarm-payroll-surge-gain-low-wage-jobs
All of the details being pointed out here would be in full force in the MSM had the president had an R next to his name.
I’ll have to stay away from all TVs today.
I hope gasoline is 6 bucks a gallon come November. I drive a lot, but it will worth it to get rid of the commie.
@ZIP
‘Educate yourself’ also has the link to an update on this story. Only 10% of the increase in jobs this January were full-time.
http://www.zerohedge.com/news/final-nail-todays-nfp-tragicomedy-record-surge-part-time-workers
They make it all seem as if the clouds parted, and the beams of joy emanating from “The Won” are glimmering through the darkness, etc etc ad nauseam–
They conveniently leave out WHY the unemployment count fell– because there’s more and more people (of ALL colors) converting to classic, permanent government assistance who are no longer enrolled in “unemployment” benefits and are therefore no longer counted among the “unemployed”.
“Obamanomics” 101…
The way to reduce unemployment is not count the unemployed,
An application of political “smoke and mirrors”,
Lose a large number of unemployed [1M+] and there it is,
A rosy economic picture for the future, no effort required.
Rush is talking about this right now.
15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1%
Jimco, there isn’t a chance in hello that gas prices will go up. This is an election year…..that little problem will be controlled for now.
Kind of like how they determine how many illegals cross our border everyday.
Has there also been a decrease in food stamp applications?
In January, the number of Part Time workers rose by 699K, the most ever, from 27,040K to 27,739K, the third highest number in the history of this series. How about Full time jobs? They went from 113,765 to 113,845. An 80K increase. So the epic January number of 141.6 million employed, which rose by 847K at the headline level: only about 10 % of that was full time jobs.
They will lie ,cheat and steal… lie, cheat and steal… lie, cheat, and steal, to get him reelected. Their is no end they will go to have this character remain in the white house …. indefinitely!
I am Tyler Durden.
Flat out, total, and complete BS….move along. There is no truthful facts here.
Same crap they pulled last month.
How to calculate unemployment rate:
total # of people without jobs / total # of people
then multiply the result by 100 if you want the percentage.
Using any other formula is a manipulation of the facts — propaganda, another lie…plain and simple. It isn’t rocket science, it’s called basic mathematics. Any 3rd grader can do it. Are you smarter than a 3rd grader? Apparantly most of this governing class and all of the media is not.
Insulting…you thinking we’ll fall for a banana in the tail pipe.
The 1.2 million number doesn’t really mean anything, it was just a population adjustment: http://spectator.org/blog/2012/02/03/participation-rate-issue-less
Of course, all the new unemployment numbers are completely bullshit. Of course, Obama was and is a complete fraud. Obama was hand picked by Wall Street and Corporate America to continue what most of all our presidents beginning with LBJ were there to do, you know be a puppet.
But most of you have got to get with reality and stop thinking that the Republicans are ANY better at anything. All of you have got to stop believing in the false left/right paradigm. There in only one party now and they just have two heads. Both parties have been bought and sold for by the elite for decades.
The last REAL Republican this country had was IKE, the last REAL Democrat was JFK. IKE warned us of the coming takeover and JFK was fighting it and Nov. 1963 was all about a message to future leaders.
It’s nice to know it isn’t a loss of 2,932,000 jobs but …
“total non-farm payrolls rose by 243,000 in January and the unemployment rate decreased to 8.3 percent.”
A lie? Political manipulation? Or maybe it’s just that most people don’t understand what they’re looking at. The answer is the latter.
Those 243,000 jobs are the total after seasonal adjustments.
The question you should be asking is, what’s the un-tampered-with number before the adjustment?
Glad you asked. The Labor Department reported a loss of 2,689,000 jobs in January.
-2,689,000 jobs – (-2,932,000 jobs) (adjustment) = 243,000 jobs