Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbl

Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low

www.zerohedge.com...

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

(visit the link for the full news article)

It has always irritated me that those who no longer qualify for unemployment benefits are not counted in the unemployment figures that the Government releases. Talk about misleading figures.

True unemployment is a whole lot higher than the Government would like to admit.

While the media and Goverment likes to play up the lower unemployment numbers, the reality is much worse.

www.zerohedge.com...
(visit the link for the full news article)

Originally posted by TDawgRex


It has always irritated me that those who no longer qualify for unemployment benefits are not counted in the unemployment figures that the Government releases. Talk about misleading figures.

Just to clear things up for those who don't know, this is not true. Counted labor force is anyone looking for a job. Whether on unemployment or not, that doesn't matter, but you do have to be looking for a job to collect unemployment benefits. So everyone on unemployment is counted as well as people not on unemployment looking for a job.

reply to post by taws6


So, how is the government going to track people no longer on unemployment to look for a job? Unemployed people looking for work who do not report in weekly for their benefits are not counted, because there is no way they possibly could be. The government has NO IDEA how many people are looking for work who do not collect unemployment benefits, and has NO IDEA how many have simply given up.

I agree with the OP, it is a ridiculous manipulation of numbers. I think they do it in election years especially to fool people into thinking that the sitting POTUS is doing a fantastic job and everything is hunky-dory. They also manipulate the stock market up at this time so the MSM gets together and sings a chorus of "Happy Days Are Here Again".

It's all a sick sham.

reply to post by TDawgRex


The grocery stores and department stores seem empty. I guess some of those people will take a bit to get on food stamps or whatever you call them. Also it may take awhile to get on welfare.

One grocery store had real knock out prices. I went expecting a crowd. No one there. -----------------

reply to post by taws6


Ok that's fine, but what about people that look for work outside of the unemployment office. I know many people looking for work, that don't claim unemployment and do not use the unemployment office to help them look for work. They are too independent to rely on a government institute to help them look for work.

How are those numbers verified? The truth is is much worse than any bureaucrat can identify. People that are looking for work and not reporting to those offices are much higher than those numbers.

....Agreed with fission. Star for you my friend.

reply to post by taws6

but you do have to be looking for a job to collect unemployment benefits.

No you don't. If you are a seasonal employee with a return date, you need not look. Same with all the union trade laborers. (concrete,iron workers,welders..etc.)

Originally posted by taws6

Originally posted by TDawgRex


It has always irritated me that those who no longer qualify for unemployment benefits are not counted in the unemployment figures that the Government releases. Talk about misleading figures.

Just to clear things up for those who don't know, this is not true. Counted labor force is anyone looking for a job. Whether on unemployment or not, that doesn't matter, but you do have to be looking for a job to collect unemployment benefits. So everyone on unemployment is counted as well as people not on unemployment looking for a job.

Seek the truth:

According to government statistics, if the same number of people were working today

that were working in 2007 then the unemployment rate would be 11%.

Millions of Americans have simply given up and dropped out of the labor force.

Originally posted by Eurisko2012

Originally posted by taws6

Originally posted by TDawgRex


It has always irritated me that those who no longer qualify for unemployment benefits are not counted in the unemployment figures that the Government releases. Talk about misleading figures.

Just to clear things up for those who don't know, this is not true. Counted labor force is anyone looking for a job. Whether on unemployment or not, that doesn't matter, but you do have to be looking for a job to collect unemployment benefits. So everyone on unemployment is counted as well as people not on unemployment looking for a job.

Seek the truth:

According to government statistics, if the same number of people were working today

that were working in 2007 then the unemployment rate would be 11%.

Millions of Americans have simply given up and dropped out of the labor force.

I'm sure that a lot of folk who have dropped out of the labor force are working for "Under the table" wages. I also know people who are out there making a living through eBay and Craigslist.

Then there are those who take up a criminal lifestyle.

Since they don't report their taxes, they are among those who have dropped out.

I try to be a pessimistic-optimist (expect the worst, but hope for the best), and hope that those who have dropped out have found a way to make ends meet...legally.

My Bro-in-Law buys old gas pumps, Lawn Tractors, and generally old stuff, (Think American Pickers) and refurbishes them and resells them on eBay. But he owns property so he does pay his taxes. His accountant hates him.

By claiming to know the unemploymeny rate they are trying to prove a negative which is impossible. Better to state what the employment rate is which can be figured out through taxes.

CNN is there saying that 240,000 jobs are created

money.cnn.com...

Lol, omg this is too funny, they are doing their best to feed us the lies.

Originally posted by filosophia
By claiming to know the unemploymeny rate they are trying to prove a negative which is impossible. Better to state what the employment rate is which can be figured out through taxes.

I'm not a tax analyst, but the way I see it is if you take the data from the article, you will see a drop in the overall individual tax base over the years. I believe that's a given. The overall tax base is falling. Even despite recent gains in employment.

Maybe they should track unemployment figures through taxes. Of course, if I mow lawns for a living and only accept cash, then I wouldn't have to file a 1099 quarterly. A tax free income.

I'm sure the IRS would take exception to that.

Originally posted by THE_PROFESSIONAL
CNN is there saying that 240,000 jobs are created

money.cnn.com...

Lol, omg this is too funny, they are doing their best to feed us the lies.

What is annoying is that people are buying it.

Unemployment figures could be one of the biggest conspiracies around.

I love the line, "Hiring was much stronger than expected."

I hear that so often nowadays...but see otherwise.

reply to post by TDawgRex


ti is a conspiracy one that has been played onus for decades. They have so many ways to influence the numbers it isn't even funny. It started when 4% unemployed became considered full employment. Just like the job creation numbers are just as much fiction. They count every job so they can make themselves look good. The problem with this is when you go out gutting manufacturing and replacing those with minimum wage jobs often times it takes 3 of those minimum wage jobs to equal the one manufacturing job you lost.They leave out those that got discouraged and quit working, because it inflates the number. They count seasonal employment as job creation when it isn't really. It is all obfuscation to convince the people they are doing good and improving things and both Parties use these methods.

Originally posted by FissionSurplus
reply to post by taws6

 

So, how is the government going to track people no longer on unemployment to look for a job?

I think the census would be a start, total population minus employeed = total unemployment
I'm sick of the statistical tricks.

WRONG.

Over 2 million people weren't counted before the census numbers were added. NEVER COUNTED.

The census data added 850,000 to employed status, 500,000 to the labor force, and 1.2 million to the not in labor force.

To claim these people dropped out of the labor force last month is stu/pid, being they had never been counted in the labor force.

Your claim that 1.2 million dropped out last month is just wrong. Flat out wrong. BLS confirms this.

Never the Less, its gonna suck if the economy keeps improving...

I mean I am angry because there are no jobs and then I get even more angry
when there are more jobs added.

Since nobody can blame this on Bush, I wonder who we are gonna blame?

I hope it gets worse and worse myself.

Originally posted by FissionSurplus
reply to post by taws6

 

So, how is the government going to track people no longer on unemployment to look for a job? Unemployed people looking for work who do not report in weekly for their benefits are not counted, because there is no way they possibly could be. The government has NO IDEA how many people are looking for work who do not collect unemployment benefits, and has NO IDEA how many have simply given up.

I agree with the OP, it is a ridiculous manipulation of numbers. I think they do it in election years especially to fool people into thinking that the sitting POTUS is doing a fantastic job and everything is hunky-dory. They also manipulate the stock market up at this time so the MSM gets together and sings a chorus of "Happy Days Are Here Again".

It's all a sick sham.

It just amazes how people post information that is completely wrong and get stars and flags, then other people see the stars and think it must be true... oh no the world is ending.
Let me say this again so everyone understands, people collecting unemployment benefits has nothing to do with determining the unemployment rate. The rate is determined by a survey that is sent to people, they fill it out and send it back and that's how they determine the unemployment rate. Yes, the unemployment number is a very misleading number for an average person, but at least lets get the facts right
I'm not even going to get into the OP because that was taken out of context, 1.2 million people did not drop out of the labor force, that was an adjusted number for the past 12 months.
Anyway, things are bad, but not as bad as fear mongers are making it out to be.

And it does not include the under employed either. Lots of folks who finally found a job are working for half or less what they used to make.

reply to post by TDawgRex


Political nonsense to fake the unemployment numbers has gone on for a long time now. The real number without the lies was reported at 15.1% this morning. That and 8 million are working part time who want full time work.

Expect new formulas over the next couple of months because it is also being predicted that unemployment will shoot back up around the time of the elections and to hide that, Obama will need to change how they calculate this.

Parents basements must be getting pretty full these days. Soon people will have to put rooms in the Attic, the Garage and the Gardeners Shed