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Steve
Rancher
Joined: 13 Feb 2005
Posts: 9677
Location: Wildwood New Jersey
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 Posted: Fri Feb 03, 2012 1:48 pm Post subject: |
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| Looks like unemployed today was 8.3% nearly 1% percent better. Did the cost to keep yourself going go up because of energy prices. Mine did. Had to reach into the piggy bank to keep up. |
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Unemployment rate hits 8.3 percent after hiring burst
In the most impressive surge for the job market since early last year, the United States added 243,000 jobs in January, far more than economists expected. The unemployment rate dropped to 8.3 percent, the lowest in three years.
Hiring accelerated across the economy and up and down the pay scale. The high-salary professional services industry added 70,000 jobs, the most in 10 months. Manufacturing added 50,000, the most in a year.
The 243,000 jobs added far exceeded the estimate by economists
And a quarter-million people streamed back into the work force and started looking for jobs. Because people are counted as unemployed only if they are looking for work, that makes the drop in the unemployment rate all the more impressive. |
ever hear the old adage if it sounds to good to be true,... ?
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Steve
Rancher
Joined: 13 Feb 2005
Posts: 9677
Location: Wildwood New Jersey
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| Posted: Fri Feb 03, 2012 2:06 pm Post subject: |
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you really can't make this stuff up... but they did...
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What’s Behind the Unemployment Rate Drop?
Whenever the unemployment rate drops, economically savvy observers know to ask a key question: What happened to the employment-population ratio?
Under the government’s definitions, people only count as unemployed when they’re actively looking for work. So when the unemployment rate drops, it could mean that unemployed people found jobs, or it could mean that they gave up looking for work. The employment-population ratio, which measures how many people are actually working, is harder to fool.
“There was not a big increase in discouraged workers,” economist Betsey Stevenson commented “What happened was Census found a bunch of old people we had assumed died.”
The adjustments had other effects, as well. They made drop in the number of unemployed look smaller than it really was, and the rise in the number of employed look bigger |
so here is how it worked..
first we took a number.. and then we added a bunch of folk that we thought had died.. (mostly dead democrat voters) with that adjustment, it made the over 55 retired group grow and the under 24 group stayed stable .. so the actual labor force (those not retired) or in school)
it became proportionally smaller.. .
it works like this..
if half the population is over 55 and under 24, ..then the labor force is 50% (the other half)
so if 9% are not working. . you still have 41% or the population working..
now if the over 55 is increased by counting nearly dead voters,.. their proportion increases..
so now you have say 52% of the labor force not counted.. face it old dead folk may vote, but they are not great workers..
so that leaves say,.. 48% with 8% not working it still leaves 40% of the population working..
for a net loss of only 1% ,.. hey wait,.. didn't the unemployment number go down?
nope... we just added more dead to one number so it looked like it went down...
nothing like using your dead voters to their full potential   
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Mike
Rancher
Joined: 10 Feb 2005
Posts: 16951
Location: Montgomery, Al
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| Posted: Fri Feb 03, 2012 3:27 pm Post subject: |
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Sick of the BLS propaganda? Then do the following calculation with us: the US civilian non-institutional population was 242,269 in January, an increase of 1.7 million month over month: apply the long-term average labor force participation rate of 65.8% to this number (because as chart 2 below shows, people are not retiring as the popular propaganda goes: in fact labor participation in those aged 55 and over has been soaring as more and more old people have to work overtime, forget retiring), and you get 159.4 million: that is what the real labor force should be. The BLS reported one? 154.4 million: a tiny 5 million difference. Then add these people who the BLS is purposefully ignoring yet who most certainly are in dire need of labor and/or a job to the 12.758 million reported unemployed by the BLS and you get 17.776 million in real unemployed workers. What does this mean? That using just the BLS denominator in calculating the unemployed rate of 154.4 million, the real unemployment rate actually rose in January to 11.5%. Compare that with the BLS reported decline from 8.5% to 8.3%. It also means that the spread between the reported and implied unemployment rate just soared to a fresh 30 year high of 3.2%. And that is how with a calculator and just one minute of math, one strips away countless hours of BLS propaganda.
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Steve
Rancher
Joined: 13 Feb 2005
Posts: 9677
Location: Wildwood New Jersey
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| Posted: Fri Feb 03, 2012 9:52 pm Post subject: |
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| people are not retiring as the popular propaganda goes: in fact labor participation in those aged 55 and over has been soaring |
when I did the research on the unexpected almost unexplainable drop in unemployment I kept coming across the over 55 number... referred to as "retired"
When did we drop the age of retirement to 55?
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Oldtimer
Rancher
Joined: 10 Feb 2005
Posts: 24735
Location: Northeast Montana
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| Posted: Fri Feb 03, 2012 10:04 pm Post subject: |
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Stock market reaches highest level since nation's financial crisis
By Peter Schroeder - 02/03/12 04:40 PM ET
Boosted by a strong jobs report, the stock market climbed Friday to heights not seen since the beginning of the financial crisis.
The Dow Jones Industrial Average closed Friday up nearly 160 points, or 1.25 percent, reaching its highest level since May 2008. The NASDAQ jumped to its highest point since 2000, climbing 46 points or 1.61 percent.
The stock market spike came as new government data indicated the economy, in particular the job market, may be gaining ground quicker than previously expected.
Before markets opened Friday, the Labor Department reported that the United States had added 243,000 jobs in January, easily beating expectations from economists, who had predicted the number would come in around 150,000. In addition, the data revealed the unemployment rate had dipped to 8.3 percent, its lowest level in nearly three years.
Further goosing the stock market were additional economic reports released Friday that showed hiring in the service sector was at its fastest rate in nearly a year.
A growing stock market and decreasing unemployment rate bode well for President Obama's reelection chances; he hopes to run with a resurgent economy on his resume.
The president warned Congress Friday to make sure it did everything it could to keep the economy gaining momentum.
"Do not slow down the recovery ... don't muck it up," he said at an event in Arlington, Va. |
Stocks the highest they've been since the Bush Bust.... 
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Trinity man
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Joined: 12 Feb 2009
Posts: 1152
Location: Midway Texas
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Whitewing
Rancher
Joined: 04 Sep 2009
Posts: 2557
Location: Venezuela
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| Posted: Sat Feb 04, 2012 1:27 pm Post subject: |
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I certainly hope the US economy can begin adding some meaningful jobs once again (not just government hiring) and get back on its feet finally. There have been a lot of Americans suffering for a long time and it'd be nice see higher jobs figures translate into better home values, etc.
Having said all that, if my memory serves me correctly, it was President Obama who told us that if the Congress would only pass his stimulus package, adding tremendous debt to the country (which will be paid in part by OT's grandchildren) that unemployment rates would not rise above 8%.
I don't know why he felt the need to lie to the American public.
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hypocritexposer
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Joined: 12 Apr 2008
Posts: 17414
Location: real world
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