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Post by unlawflcombatnt on Sept 7, 2012 11:35:54 GMT -6
Once again, we were treated to another Employment report that is chocked full of contradictions and inconsistencies. The total number of jobs created, as per the Payroll Employment Report, was less than 100K. This number is acknowledged by almost every authority to be less than the amount needed to keep up with population growth. But despite that, the Unemployment Rate allegedly declined to 8.1%. How does the Unemployment rate decline when the working age population grew more than the # of jobs created? Of course, that's a rhetorical question. The answer is that an even larger # of people magically "dropped out" of the work force. According to the BLS, 579,000 Americans just got so lazy that they stopped looking for jobs. Either that, or they just became independently wealthy from their stock market investments, and no longer need the money. The other Employment Report--the Household Report--shows a loss of jobs to the tune of -119K. But thanks to those 579K unmotivated Americans who stopped looking for jobs, the number of people classified as officially Unemployed declined by a whopping 250K. So despite the net job loss, there were more than enough other factors to offset the job losses, resulting in a reduction in the Unemployment Rate. www.bls.gov/web/empsit/cpseea01.pdf
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Post by jeffolie on Sept 7, 2012 17:39:24 GMT -6
Rather than believe fake, false govt jobless weekly reports or even monthly reports, I consider barts U7 which is a broader and better measure than U3.
Additionally, I consider 'final demand' as retail sales divided among Type 1 upper 20% buying new stuff such as new SUVs or crossover cars, compared to the rest of us in the 80% buying staples and practical items. Without 'final demand' even the 'trickle down' Type 1 consumers will not be enough to manipulate our economy with 'bread and circuses' govt creations ... a failure would push America into an overt Greatest Depression such as 40% jobless and total abandonment of the Dollar in it current presentation...I use the word presentation because the currency creation on computers more resembles a powerpoint concept that a medium of exchange based in reality.
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Post by unlawflcombatnt on Sept 8, 2012 13:16:13 GMT -6
At the end of December 2008--the month before Obama took office-- 143.188 million Americans were employed (as per the Household Survey). Below is a copy of the BLS's Household Survery report, showing then numbers from Dec 2008. Currently, at the end of August 2012, only 142.101 million Americans were employed. That's a loss of over 1 million jobs. Regardless of whatever situation Obama "inherited" when he took office, there's no way he can brag about his job-creation record. It's been a disaster. With the exception of the Great Depression, Obama has the worst 4-year job-creation record in US history. Our working age population has increased +8.5 million since Dec 2008, while the # of employed Americans decreased -1 million over the same time period. That's 9.5 million more non-employed Americans than when Obama took office. Heckuva job, Barry!
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Post by jeffolie on Sept 8, 2012 15:02:11 GMT -6
Voters do pay attention to jobless reports and their own observations of friends, family and acquaintences to result in a GUT FEELING about the President's effectiveness.Good Reasons for Dropped from the working rolls: 1. retired on SS or pensions 2. injured, sick 3. permanently on disability 4. going to school 5. raising children Boomers retiring and others for good reasons do not belong in the group considered jobless. Some of the above may be in that group because they were fired and decided to go to school, file for disability, retire. So, in a good job market they may well still remain in the jobs group or job seeking group. Not every dropped person should be counted in the jobless group. The outsized dropped group clearly appears manipulated, so again I put little faith in the govt's U3, headline jobless rate. ======================== Record 88,921,000 Americans ‘Not in Labor Force’—119,000 Fewer Employed in August Than July September 7, 2012 (CNSNews.com) - The number of Americans whom the U.S. Department of Labor counted as “not in the civilian labor force” in August hit a record high of 88,921,000. The Labor Department counts a person as not in the civilian labor force if they are at least 16 years old, are not in the military or an institution such as a prison, mental hospital or nursing home, and have not actively looked for a job in the last four weeks. The department counts a person as in “the civilian labor force” if they are at least 16, are not in the military or an institution such as a prison, mental hospital or nursing home, and either do have a job or have actively looked for one in the last four weeks. In July, there were 155,013,000 in the U.S. civilian labor force. In August that dropped to 154,645,000—meaning that on net 368,000 people simply dropped out of the labor force last month and did not even look for a job. There were also 119,000 fewer Americans employed in August than there were in July. In July, according to the Bureau of Labor Statistics, there were 142,220,000 Americans working. But, in August, there were only 142,101,000 Americans working. Despite the fact that fewer Americans were employed in August than July, the unemployment rate ticked down from 8.3 in July to 8.1. That is because so many people dropped out of the labor force and stopped looking for work. The unemployment rate is the percentage of people in the labor force (meaning they had a job or were actively looking for one) who did not have a job. The Bureau of Labor Statistic also reported that in August the labor force participation rate (the percentage of the people in the civilian non-institutionalized population who either had a job or were actively looking for one) dropped to a 30-year low of 63.5 percent, down from 63.7 percent in July. The last time the labor force participation rate was as low as 63.5 percent was in September 1981. cnsnews.com/news/article/record-88921000-americans-not-labor-force-119000-fewer-employed-august-july
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Post by jeffolie on Sept 8, 2012 16:06:07 GMT -6
I should have had a 6th number: Mexicans returning to Mexico.
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Post by spudbuddy on Sept 14, 2012 4:30:22 GMT -6
The unemployment rate is sort of like watching reality tv (something I never do actually, just occasionally like to listen to other people complain about.) Perhaps this statistic needs to be replaced with something else - something that actually measures accurately all the "phantom" citizens out there - the ones that sort of flit by your peripheral vision - the ones that don't really participate in anything anymore. They exist in the dark market buried down deep in that soft underbelly of disenfranchised and marginalized non-earners of anything measurable by fiscal reports. They get by somehow (otherwise their corpses would wind up littering the public spaces and cause a lot of talk and suspicion.) They don't really matter in a shrinking economy. They are an embarrassment to unaccountable politicians. If this were 1970 they could all kind of wander off to the Rockies somewhere and start up cults and communes. Heck, they can't even do that anymore, it seems. They're so lazy, apparently, that they've earned degrees in record numbers. Astonishing. If every one of them instantly and together decided to descend en masse upon every pork and chicken factory in the nation, every franchised cookie cutter service provider, every big box retail outlet - and conduct rousing sit-down strikes demanding fair work at fair pay....while singing at the top of their collective lungs all those good old Woody Guthrie, Sis Cunningham and Cisco Houston songs about what the dignity of work used to sound like....maybe we'd get somewhere. Maybe we'd even wind up with a statistic that meant something real, understandable. Something you could really sink your teeth into. Something you could take to the bank.
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