Posted on 02/04/2011 10:24:33 AM PST by mojito
Probably the last chart to bury any doubt about just how truly horrible today's employment data was, comes from a little observed data metric: that showing the number of people who are not in the labor force, but who want a job now. The number just hit 6,643K, a jump of 431K from December, and the highest number in history. These are people that would send the unemployment rate to about 12.8% if they were in the labor force (and, as indicated, looking for a job). Nothing else needs to be said.
On the economy, on Egypt, on Obamacare....
What would this guy do if somehow a miracle ocurred and the MSM started telling the truth?
Well, perhaps when Jug Ears implodes his stink will stick so well to the MSM it’ll take them along too. One can always hope. Jug Ears has far less to answer for than the MSM who has been crapping on the US for decades. Like lawyers & bankers if they disappeared from the face of the earth no one would miss them...and the air would be fresher to boot.
If they did that, they would have to admit that the ‘hope’ was just hype...
Does this correspond to either U-3 or U-6 or some other metric? See:
http://www.shadowstats.com/alternate_data/unemployment-charts
The U-3 number is the headline number. BLS has been tracking U-6 whcih is supposed to include looking for work, but not recently unemployed.
I’ve always said the most honest number, as least for now is tax revenues collected. Tax revenues, specifically sales tax; are collateral “damage” for employment. How much are they down and recently?
I suppose we'll be hearing about another 400,000 people loosing their jobs this Thursday. I wonder how they'll explain that. Over 400,000 every week and it doesn't stop, yet somehow unemployment just seems to be disappearing (like the homeless during a democrat administration).
No, the real unemployment rate is 19-20%
I have a friend that has hung it up looking for a job. She is 48 and degreed. This number put out by BO plenty is nothing but BS.
No. It corresponds to people who no one wants to hire, who would like a ‘job’ at high pay without much in the way of duties.
If they really proposed to work, they would at least be out looking.
This is why I really like the sites like Zero Hedge they break it down and you get the real numbers where as the MSM seems to be all about propaganda. To get to the truth in an article from the main stream media you have to read through the entire article not just the lying headlines if they tell the facts at all.
For example look at this headline...
Treasury close to profit on TARP bank loans
Sounds good right? People would think hey this is great and may not even read further but then down at the very bottom we find out...
“When you factor those loans in, along with the cost of a foreclosure prevention program, taxpayers have only recouped $274 billion out of a total $410 billion. Treasury isn’t expecting to make all that money back. It recently estimated a final cost to taxpayers of $48 billion for the entire program.”
http://money.cnn.com/2011/02/02/news/economy/tarp/index.htm
I’m not an expert on labor statistics and the means the government uses to measure them.
However, I believe the figure cited in the article is some other measurement, but it seems to correlate more closely with the U-6.
It's not that they aren't looking for work...they were never on unemployment because they were never officially "employed."
Not to mention the price of gas and where its going, the wars in Afgan & Iraq, union corruption related to O’care waivers, waivers for Jug Ears buddies in re. EPA greenhouse gases, the ATF gun running to Mex, yapping about getting off the Arab oil teat but trying to shutdown domestic production, threatening to disobey a fed judge re. O’care and...
You’d think since there’s so much to report on they wouldn’t keep running stories on gun control and Palin.
The magic Muslim is a failure in his Presidency. He is very pleased at that right now. He has us right where he wants us.
The turmoil is Egypt is said to be caused by high unemployment and poverty, too.
Short time ago I joined the ranks of the “Unemployed”. Resume is being deployed, but not a peep yet.
“This officially sucks.
On a month-by-month basis the number of actual employed people dropped by more than 1.5 million! That’s a huge decrease and what’s worse, the trend is awful, being unbroken now since the first of last year.
Remember, we need about +150,000 in actual employment just to keep up with new entrants into the workforce. We instead lost ten times that number of actual employed.”
http://market-ticker.org/akcs-www?post=179152
As I said in another thread there are horror stories of unemployment that I am seeing with my own ears locally.
One job position was posted,1400-1500 applicants.The owner of the small HVAC company picked the best four called them told them come in and ride with manager/ceo in company van and work for two days NO PAY (A LIABILITY BTW) NOT ON THE BOOKS and then after he gets one week free work (he can’t pay the going rate of $20 an hr. to start-as all applicants are on unemployment and he does not want to ‘screw this up’) so he will pick one candidate after one week.
Sad in a once bustling town...
On top of that a wait for any refund from the IRS <-——thanks progressive democrats and OBAMA! until 14 Feb. and by that time the state will give an IOU as they are broke as they did last year! (People got their state refunds from last year 3 months ago)
On top of that inflation is hitting so bad you are scared to grocery shop,buy gas and live.
But Egypt is in trouble you see so everybody cry and believe Obama’s prayer load of BS. And don’t pay attention to the man behind the curtain we could be Egypt soon.
Don’t anyone DARE say IMPEACH and Obama because you are then a racists and the media say Bush was the hitler devil so hush and enjoy your poverty.
And then there are posters in this very forum dissing the tea party and I don’t know if they are GOP RINO idiots or DUmmie idiots. AND the only breaking news WAS Palin’s reality show YEAH that will save us all infighting before primaries or we know who is even running.
GO RON PAUL, GO SOME BODY THAT WILL BE HEARD ABOVE THE MSM lies. We need a brave strong leader and not a nas car driving pork funded politician! FLAME AWAY but I AM sick of the garbage!
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