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 ...
Imagine the convolutions to cook these numbers. Don’t worry, they will be corrected in a few weeks. O simply couldn’t absorb the hit this week so the fix was in.
Good analysis!!
Another good one.
http://www.zerohedge.com/article/bloomberg-unemployment-and-potential-big-not-so-surprise
” As the recession gets longer, more and more unemployed people get disqualified from being included in the U-3 calculation — through a separate telephone survey — that produces that 10 per cent figure. That’s because they stop looking for work.
So, the unemployment rate could actually improve even as the job market gets worse.”
http://www.nypost.com/p/news/business/bad_feelings_grow_about_employment_qLBIbzzim4KJITI9zj3ldK
In New Mexico, in the trunk of a car parked near Bill Richardson's office.
When I logged on this morning, the AP/Yahoo headlines were as shown in the screen capture above.
Minutes later, the exact same story that was trumpeting "GREAT RECESSION" were now turned to the miracle story of ONLY 9.7%....
Do your own search on "Great Recession" and see what you get...just a few hours ago they were going doom and gloom...
They found jobs that were not counted. I guess it’s those ‘saved jobs”. barf
Last I heard the number was expected to go up and I recall a large group that was not being included. Think I heard this being discussed by Mark Levin.
To be candid, I believe NOTHING coming out of Washington. Even the CBO which used to be semi-reliable has been compromised to report rosy numbers on the Healthcare abomination.
yup! LOL
I don’t know what to say about this. The brazen absurdity of this is insulting.
The propaganda coming out of this government would have made Stalin green with envy.
Wow. I feel much better.
Was on job interview (first in several months) - when
told interviewer wasn’t employed he said wife had been laid off since October!
Feel much better about what?
Complete horsesh!t.
I checked the left wing blogs, and they don't believe it either. They're even calling it propaganda. They're not happy. It's obvious the American people aren't going to be fooled by this.
Utter nonsense.
That unemployment is dropping!
Dept of Labor:
Hey and they re-wrote and re-organized the BLS reports. Cool.
Did you notice that the BLS also fixed the 2009 report by adding back 920,000 in ‘unemployed’ error they left out of the 2009 data. See it’s that easy to fix the ‘errors’ in the monthly BLS report and slip the whole revised under the radar with the MSM. Cool manipulations.
So if the 10.0% rate in December was moved up with corrections, probably giving a real rate of over 19% so the drop in January was huge ... or is it hidden under the rug until they ‘fix’ it in the Feb 2011 report.
Dumber than a box of Kenyans if you buy this crap. And then they re-wrote and reformatted the entire BLS report. I am sure that is just updating to make the ‘new improved’ report high tech, don’t you?
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