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

Originally posted by hawkiye
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.

Good point. I know at least 12 college graduates who are working as bartenders.

Do you think they will re-elect Obama for 4 more years of this socialism/anti-capitalism?

I do not believe they measure this correctly as they have no reason to do so,that being said I do not care! I am trying to take care of my family as best I can and we help out everywhere we can,sometimes by donating to freecycle sometimes by sharing what little we have been blessed with. I believe if each one of us helps another then we all win and times will get better.

The way our government counts (or lies) about unemployment numbers is such BS. The way it works, if 100% of the work-capable adults are unemployed but their unemployment has expired...there is 0% unemployment. What we really need is a better "count" of the unemployed and under-employed. And it isn't difficult to do.

Even a simple TOTAL GROSS INCOME REPORTED TO THE IRS / TOTAL NUMBER OF WORK-CAPABLE ADULTS would give us some number (lets say $40K). While that number may not be "real", meaning that the actual number may be different...it would be a valid gauge of trends. Then, over the years, we can have a real view of how things are. The current unemployment numbers are nothing but BS. They are there to disguise the truth and never account for the under-employed. I personally know a number of people who used to make $100K and now make around $20K. Where are they counted in these numbers that are supposed to reflect the state of the economy?

Originally posted by Snoopy1978
reply to post by Propulsion

 

Single father of two maintaining a home, food, unexpected expenses all on delivering pizza or misc dock work? Not only that but you're a-ok with your suddenly massive drop of lifestyle and beat your chest like it's no big deal? You must be an ubermensche indeed!

Im a successful business owner, single father of one and would know how hard it is juggling things like work and day care plus unexpected illnesses, accidentes, birthdays, christmas, stress, missed work etc. If I was suddenly ruined and had to scrape to live, I'd be angry, depressed and would throw my pride to the winds. Delivering pizzas and raising two children by yourself? Ok, sure.

So I guess you are saying I should suck unemployment dry? And NO I don't raise my children by myself. Their mother works nights, and I work during the day. Our relationship didn't work out for the best, but we have enough respect for one another to put our indifferences to the side, and do what is right for our children. You didn't read the part where I had to give up my home and other things to live to my means? I had everything I wanted in life. I am a g-d fearing man, and I believe there is a reason for everything. If anything my situation has made me stronger. I had the attitude..."If I work hard and go above and beyond, I will prevail". Well it didn't work out that way. Now I could run around and cry like a little baby wondering why I got the raw end of the deal, but I have my children, and I need to do what's best for them. I have talked with people just like you. Think you have it all figured out. Well, it doesn't always work out that way. You could easily get into a car accident, and become paralyzed from the neck down. What will you do then? I still have stocks, bonds, cd’s, etc…But I have had to cash in on some of them to keep myself afloat. You have to do what you have to do.

Originally posted by SuperTripps
What r all of people complaining about

Stock market has bees soaring for 2 months straight let alone 3.5 years


Stop your beetching

So stock manipulation and speculation has done wonders for those in charge of the corruption. Should I be happy for that?

I don't care if the stock market goes to 50k - doesn't mean a damn thing to me. Wall street and main street are two different things.

reply to post by Propulsion


i have plenty of DIGNITY! I resent the fact that you are parading around your SACRIFICES as if you were GOD HIMSELF! i have been looking for work for over a year in my feild. turns out my feild isnt hiring unless you have a F***** DEGREE! i refuse to put myself even further into debt to get the degree. it also turns out that i sometimes have problems communicating with people unless im F***** pissed, as is the case right now. i REFUSE to work fast food, its degrading to have bosses who are clueless about there operation, when you know more about the food service industry than quite a few senior managers! secondly i have been working freelance in Texas since we moved here from CALIFORNIA. i may not make what i did, but were ok for the moment. my job is set to end and im freaking out, with no further prospects... so dont tell me im WORTHLESS i already feel that way cause no one wants me as an employee. I DONT WANT PITY JUST A JOB! A REAL JOB!

reply to post by taws6

They're not posting false information. You're the one that is. Quit trying to maleducate people that demonstrate more logic than you.

The unemployment statistical surveys do not account for the unemployed persons that are no longer eligible for unemployment assistance due to having expired welfare. They are homeless, living in tent cities at best, without phone or address for an employment statistical survey to be sent to them.

The survey results don't account for people that are underemployed, working too few hours, and not earning enough to be considered meaningfully employed.

What is it about the above that you find so difficult to comprehend?

There is nothing you can claim that evades the fact that homeless people that are unemployed and willing to work should still be counted as unemployed.

And I must add, "employment" under a slave wage is not meaningful or adequate employment, and shouldn't be ignored by the employment surveys.

According to the BLS: www.bls.gov... A survey is how unemployment numbers are measured, even though, the OP and the article he cites does not discuss the methods used. The real problem, as others have mentioned, is not merely confined to total unemployment, but branches out to under-employment and low wage work.

reply to post by SJE98
some one that see the light . ( pardon me while I do cartwheels and jumps up and down , yells yes yes) you got it!!!

reply to post by hounddoghowlie
your not if you like some 4.5 million other would be then you would be in the pie graph charts , till then your numberless

Originally posted by Blaine91555
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

This is what happens in an economy with strong reliance on services. Many people (the majority, probably) simply have no marketable skills.

Originally posted by MidnightTide

Originally posted by SuperTripps
What r all of people complaining about

Stock market has bees soaring for 2 months straight let alone 3.5 years


Stop your beetching

So stock manipulation and speculation has done wonders for those in charge of the corruption. Should I be happy for that?

I don't care if the stock market goes to 50k - doesn't mean a damn thing to me. Wall street and main street are two different things.

That's actually demonstrably false. When the DJI or whatever other index we want to use pick up, those can generally be used as a decent (albeit not entirely, 100% accurate barometer) for what the economy as a whole is looking like. The dow jones industrial index is actually very helpful, but in general, when we see a rise in the market, one can usually assume that means more money is being made, which means aggregate demand is higher, and that companies are thus entering into more contracts, placing more order and so on ...

When wall street falls, so does main st., because there is no credit flow to go around to help small business - when wall st is feeling bullish, money is easily come by for investments. We're all tied in together, and no one industry is truly isolated or insulated from another (although this will vary with elasticity of demand, of course).

Right-Wing Media Rely On Discredited Evidence To Dismiss Positive Jobs Report

Right-wing media are rushing to put a negative spin on newly released jobs numbers showing a drop in the unemployment rate and a net increase in jobs by parroting the discredited claim that government data show that "1.2 million people dropped out of the labor force" last month. In fact, as economic experts have explained, that number reflected an increase in population from 2010 Census figures and is not the result of how many people "dropped out" of the labor force last month.

A blogger at Zero Hedge - one can only assume purposely - misreads the BLS report of job growth:

So today following an otherwise pretty darn good jobs report, we get the usual perma-pessimists at Zero Hedge and Rick Santelli over at CNBC proclaiming that the report showed a drop of over 1 million people from the labor force in one month. Of course, as ususal, both Santelli and Zero Hedge have a real reading comprehension problem and completely missed that this million+ people isn't some new January phenomenon, but a result of the BLS using the 2010 census data to have more accurate data. In other words, the changes in the Household Survey to the various measures had taken place over the years prior to 2010, but for simplicity's sake, the BLS incorporates these changes into one month (which they clearly point out).

A Times and WSJ analysts also agree the Zero Hedge conclusion that 1.2 million people 'fell out' is hokum.

What’s Behind the Unemployment Rate Drop? (WSJ.com)

Here’s what happened: According to the Census Bureau, the civilian population grew by 1.5 million people in 2011. But the growth wasn’t distributed evenly. Most of the growth came among people 55 and older and, to a lesser degree, by people 16-24 years old. Both groups are less likely to work than people in their mid-20s to early 50s. So the share of the population that’s working is actually lower than previously believed. Taking that into account, the employment-population ratio went up. The unemployment rate wasn’t affected.

“There was not a big increase in discouraged workers,” economist Betsey Stevenson commented on Twitter. “What happened was Census found a bunch of old people we had assumed died.”

No Rick Santelli and Zero Hedge, One Million People Did Not Drop Out of the Labor Force Last Month

So Rick/Zero Hedge, unless you would like to argue that the population of the United States also grew by 1.5 million in one month (since that is from the exact same report/revision you quoted), I think both of you should retract your extremely misleading statements about those not in the labor force increasing by over a million in January and simply admit that you are either too stupid or too focused on selling a particular world view to read the data correctly.

At the very least, a reputable financial news organization like CNBC needs to set the record straight on data like this as while Mr. Santelli is entitled to his own opinion, he is not entitled to his own facts, and the fact is 1 million people did not drop out of the labor force in January 2012.

January Jobs Report: Good News for the Economy, Bad News for the Pessimists

The demographic adjustments had no effect on the unemployment rate, says Mary Bowler, the resident expert in these matters at the BLS. And when it comes to labor force estimates, the steep jump in the number of those not seeking work came entirely from the census adjustment, which added 1.25 million people to that group. If you take out the census adjustment, the labor force numbers stayed essentially the same, as reflected by the labor force participation rate of 63.7%. In other words, the spike in the number of people no longer looking for work is entirely the result of some people at the Labor Department adding numbers to their spread sheets rather than an actual observed shift anywhere in the real economy.

Zero Hedge

Originally posted by badkittie748
reply to post by Propulsion

 

i have plenty of DIGNITY! I resent the fact that you are parading around your SACRIFICES as if you were GOD HIMSELF! i have been looking for work for over a year in my feild. turns out my feild isnt hiring unless you have a F***** DEGREE! i refuse to put myself even further into debt to get the degree. it also turns out that i sometimes have problems communicating with people unless im F***** pissed, as is the case right now. i REFUSE to work fast food, its degrading to have bosses who are clueless about there operation, when you know more about the food service industry than quite a few senior managers! secondly i have been working freelance in Texas since we moved here from CALIFORNIA. i may not make what i did, but were ok for the moment. my job is set to end and im freaking out, with no further prospects... so dont tell me im WORTHLESS i already feel that way cause no one wants me as an employee. I DONT WANT PITY JUST A JOB! A REAL JOB!

Where on G-ds given earth did I say you were worthless? You sound just like a person who IS pissed off at the whole world because you’re not getting your way! Nothing in life is perfect. If you are in a rut like I am, than do something about it. You getting all pissed off aren’t going to solve anything. I’m not your punching bag bubb, and that attitude you have will not get you a job!