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January unemployment rate drops to 9.7 percent
Yahoo finance ^ | Friday February 5, 2010, 8:34 am | AP/Yahoo

Posted on 02/05/2010 5:47:16 AM PST by central_va

WASHINGTON (AP) -- The unemployment rate dropped unexpectedly in January to 9.7 percent from 10 percent while employers shed 20,000 jobs.

The Labor Department says the rate dropped because a survey of households found the number of employed Americans rose by 541,000. The job losses are calculated from a separate survey of employers.

The report also included an annual revision to the estimates of total payrolls, which showed there were 930,000 fewer jobs last March than previously estimated. The department also revised down its estimates for April through October of last year, adding another 433,000 job losses.

November was revised up, however, to show a gain of 64,000 jobs.

All told, the department says the Great Recession has eliminated 8.4 million jobs. That's the most of any recession since World War II as a proportion of total payrolls.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Breaking News; Business/Economy; Culture/Society; Government
KEYWORDS: bhoeconomy; layoffs; unemployment
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To: central_va

Seasonally adjusted BS.

Use Karl Denninger’s analysis of these reports.

Also, if you go to MarketWatch, search “irishscot2.”
http://community.marketwatch.com/irishscot2

In my opinion “irishscot2” has THE best analysis of all government reports.

As he says about this one, these numbers are seasonally adjusted. They will be up again in the spring. He predicts unemployment (U3) will be over 12% by fall...election time. And he is very accurate in these predictions.


21 posted on 02/05/2010 5:58:02 AM PST by Ghost of Philip Marlowe (Prepare for survival.)
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To: central_va
So we are back to the Clinton era game.

During the Clinton years, they would over estimate the job gains and under estimate the losses to manufacture fraudulent propaganda for the Clinton regime.

Bush changed that. His administration tried to be as accurate as possible. Almost always they revised up the job gains after the fact.

Now we are back to the 0 regime massaging the number to generate favorable propaganda, then fixing their over optimistic numbers much later.

22 posted on 02/05/2010 5:58:05 AM PST by MNJohnnie ("The trouble with socialism is that eventually you run out of other peoples' money" Lady Thatcher)
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To: central_va
The unemployment rate dropped unexpectedly in January to 9.7 percent from 10 percent while employers shed 20,000 jobs.

?????????????? The only way that can happen is if a huge number of working-age Americans died last month. Or something funny is going on with statistics. As Mark Twain said, there are lies, there are !&^*&$#! lies, and then there are statistics.

23 posted on 02/05/2010 5:58:58 AM PST by Liberty1970 (http://www.caringbridge.org/visit/lydiablievernicht)
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To: central_va

Kind of like reporting 4.5% Unemployment was the worst economy since Herbert Hoover.

Losing 8.5 million jobs is now better than expected.


24 posted on 02/05/2010 5:59:16 AM PST by poobear
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To: central_va

Makes perfect sense to me.

Here, in St. George UT, we have a brand new business on the main drag. I’m guessing it will employ ten people and they are hiring! Maybe Obama counted them twice.

Only thing is, it’s a payday lender thingy....


25 posted on 02/05/2010 5:59:38 AM PST by Daisyjane69 (Michael Reagan: "Welcome back, Dad, even if you're wearing a dress and bearing children this time)
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To: central_va

SOMEBODY IS FUDGING THE NUMBERS!!!!


26 posted on 02/05/2010 5:59:55 AM PST by Laserman
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To: Farmer Dean

Want to know how statistical magic is performed today? If you are unemployed beyond a certain number of months, PRESTO!

You’re not unemployed anymore! You are a “discouraged” worker, and you don’t count as “unemployed” anymore!

Take the red pill, Alice, and welcome to the USSA!


27 posted on 02/05/2010 6:00:00 AM PST by Travis McGee (---www.EnemiesForeignAndDomestic.com---)
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To: Melchior

Yup, and the Chocco ration is going up to 25 grams.


28 posted on 02/05/2010 6:00:06 AM PST by PLMerite (Ride to the sound of the Guns - I'll probably need help.)
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To: central_va

Why do I suspect the accuracy/veracity of this report?


29 posted on 02/05/2010 6:01:46 AM PST by SumProVita (Cogito, ergo...Sum Pro Vita. (Modified Decartes))
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To: central_va

These guys are cooking the books. Unemployment drops to 9.7% with a concurrent LOSS of 20,000 jobs? Seems a sharp increase in the number of people giving up looking for work helped to depress the jobless rate. The number of ‘discouraged job seekers’ rose to 1.1 million in January.


30 posted on 02/05/2010 6:01:58 AM PST by jgilbert63
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To: central_va
The Labor Department says the rate dropped because a survey of households found the number of employed Americans rose by 541,000. The job losses are calculated from a separate survey of employers.

Who knew they had such strange dichotomies in their stats. Employed Americans...and what does that mean? What constitutes an employed American? My kid has a roommate who's working 20 hours per week, and desperately needs full time, but there are no full time positions at his work place at present. My point, does the figure of employed Americans include "under employed?"

And isn't this whole job stat a little suspicious coming out on the same day as the devastating news that the job losses were overwhelmingly underestimated for the past year and a half?

31 posted on 02/05/2010 6:02:21 AM PST by dawn53
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To: central_va

Surely the obama labor department would not find ways to manipulate data to make obama look good, just as he seeks more money for “jobs”?

It is fascinating that unemployemnt “dropped” even after last week’s revelations of a “missing” 824,000 jobs not calculated during the past year


32 posted on 02/05/2010 6:04:03 AM PST by silverleaf (My Proposed Federal Budget is $29.99)
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To: central_va

“unexpectedly”

There is that word again. This administration claims just about everything is “unexpected”! What a bunch of inept losers. Of course I think these numbers are being made up and manipulated!

The DOW shed 268 point yesterday so we had to say something to make it look like Green Shoots...


33 posted on 02/05/2010 6:05:01 AM PST by Syntyr (Mace, Kirk, Thomson, Griffin, Scusa, Martin, Gallegos, Hart - Remember the fallen of Kamdesh)
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To: OregonTide

OK that must be what the cooking is for. Maybe a new “spin”. To coincide with bogus government reports....Oh that explains it. Government Reports.


34 posted on 02/05/2010 6:05:46 AM PST by screaminsunshine
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To: central_va

Bogus #’s.....Obama will be spinning this today


35 posted on 02/05/2010 6:06:07 AM PST by OregonTide
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To: central_va
Varney says it's a statistical anomaly. Seems they happen to have found 500,000 jobs they didn't count!

I wonder if they found more ‘Gore” votes with those jobs!

36 posted on 02/05/2010 6:06:09 AM PST by tiredoflaundry (I will not be silenced.)
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To: central_va

“A sharp increase in the number of people giving up looking for work helped to depress the jobless rate. The number of ‘discouraged job seekers’ rose to 1.1 million in January from 734,000 a year ago.”


37 posted on 02/05/2010 6:06:45 AM PST by tobyhill
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To: jennyjenny
WTH? They did a survey?

The rate dropped because a survey of households found the number of employed Americans rose by 541,000, the Labor Department said. " - LATimes.

They called around - like a poll!! Did they just keep calling people until they got the number they wanted?

38 posted on 02/05/2010 6:06:46 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: central_va

What?!? Today, it unexpectedly dropped. Yesterday, it unexpectedly rose. The day before they had to adjust by adding more numbers. The day before that...


39 posted on 02/05/2010 6:06:51 AM PST by bgill (The framers of the US Constitution established an entire federal government in 18 pages.)
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To: tiredoflaundry

If job losses are increasing how is the % of unemployment going down. This one is by me.


40 posted on 02/05/2010 6:07:31 AM PST by screaminsunshine
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