CHART OF THE DAY: The Scariest Jobs Chart Ever Looks HORRIBLE

Business Insider ^ | June 3, 2011 | Joe Weisenthal

[Zakeet]

The classic Calculated Risk jobs chart looks horrible after today's big whiff.

The "recovery" has clearly flattened out.

[Zakeet]

Obamanomics in action

As a member of the MSM business press, Business Insider is actually optimistic in their assessment of the current employment situation.

John Williams, Shadow Government Statistics makes a decent living converting economic statistics back to their original definitions (the Fed cooks the books mercilessly by frequently changing definitions) and by explaining the "numbers behind the numbers." According to John:

• The Feds assume a "birth death adjustment," i.e. someone, somewhere, creates a new job every time an existing job is lost. As explained here, using a more realistic measurement reduces yesterday's reported gain of 54,000 jobs to a loss of more than 200,000.
  

• The U-3 unemployment rate is the monthly headline number. The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment. Both of those are shown in the chart prepared by Williams shown immediately above.

• The seasonally-adjusted SGS Alternate Unemployment Rate (also in the above chart) reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.

Finally, according to John, yesterday's reported U-3 unemployment rate was 9.1 percent. The reported U-6 unemployment rate was 15.8 percent. The adjusted (to the historic definition) unemployment rate was 22.3 percent. This means that, using the original definition, the Business Insider chart is in reality roughly two and a half times worse than portrayed in the article.

[null and void]

Sure, it may look scarey to you or me, but to a certain occupier of the White House it looks like victory (over The Great Satan)

[cripplecreek]

[YankeeReb]

We need to get it right. There is no recovery flattening out, because there hasn't been a recovery to flatten. We're still in the same recession we were in 2008, Hussein's regime has only aggravated it and turned it into "The Great Recession" soon to be a Depression.

By the same reasoning there is no double dip because that implies we had a recovery. All this talk is just the Lamestream media's attempt to prop up "The Won" and it's getting to be a tough sell because the public aint buying the spin anymore.

Unless and until this trainee president is turned out of office and his policies reversed (not just tinkered with) this country will continue it's slow sinking into the swamp.

[hosepipe]

Don't tell me that Dingle Barry is beginning to STINK!?..

[pallis]

Notice how we never hear anything about the homeless these days?

[Texas resident]

Good point. Back when we had a real president, 1980-1988, 25% of all the news was about all the poor homeless folks and how Reagan’s policies created homelessness.

[GOYAKLA]

Please, if you can, show a jobs chart with the Legal Citizens vs Illegal aliens over the last 30 years, in the USA. Also one that might show the loss of jobs of Black Legal Citizens against Illegal aliens. The latter may make some Blacks leave the “Plantation”!
Thanks......

[Redcloak]

Yeah... How’s that Hopey-Changey thing workin’ for ya?

[Art in Idaho]

The socialist/communist destruction of free enterprise capitalism right on track. Will the electorate vote for more on November 6, 2012?

[Terry Mross]

But “Those who worship him” will continue to vote for him. They’re just plain stupid and very weak to have been brainwashed so easily.

[bicyclerepair]

Seems like in not too long, the thinkers will be outnumbered. It’s close now.

My sis-in-law (only one voted Øbama) is not an idiot, just lazy and fell for the propaganda. Not again.

[Kartographer]

OBAMAVILLE

Gett’n a head fake,
watchin' msn’s take;
All of their pundits oozing foul oil.
Clean’n my six gun on my front porch swing.
Felling my blood--
It’s beginnin' to boil.

Wasted away again in Obamaville,
Searchin' for a job so I can earn my salt.
Some people claim that Bush is to blame,
But I know it's Obama’s fault.

There’s no rhyme or reason,
They are all commitin’ treason
With nothing to show but a brand new tax or two.
But they are real beauties,
Despotic duties, how they got passed
I haven't a clue.

Wasted away again in Obamaville,
Searchin' for a job so I can earn my salt.
Some people claim that it’s Bush we should blame,
Now I think,-- hell with them it’s Obama’s fault.

I blew out my flip flop,
Stepped on a pop top;
Cut my heel, but I just cruise on back home.
Because no medical care will the doctors render
They say there’s little service I can tender
And there’s no need for me to hang on.

Wasted away again in Obamaville
Searchin' for a job so I can earn my salt.
Some people claim that Bush is to blame,
But I know, it's my own damn fault.
Yes, and some people claim that Bush is to blame,
And I know because of my vote it's my own damn fault damn fault.

[Gondring]

Gee...it's looking like I was right...

Nearly all of the net job losses were under George W. Bush.

But the normal recovery curve is being impeded under Barack H. Obama.

[Gondring]

Of course, the recession under Ronald Reagan yielded an unemployment rate of nearly 11%. Still, he won re-election in 1984.

Those who think BHO can’t win are delusional.

[Zakeet]

In response to a request for an unemployment chart covering the Great Depression.

It should be noted that many economists expect the U.S. unemployment situation to get much worse in the near future in the event of another depression (if the Federal Reserve ends its QE programs) or a hyperinflationary depression (if the Fed does not).

[Moltke]

Heh. I thought this thread was going to be about scary jobs! Now I see it’s only economics. Boring. /s

[Christian Engineer Mass]

If this chart is right about the general symmetry trend, in 12 months jobs will be WAY back up just in time for the election

[wmap]

What happen to although V recoveries looks closely like the L recovery

[webstersII]

“If this chart is right about the general symmetry trend, in 12 months jobs will be WAY back up just in time for the election”

The economy is about to take another downturn. Bernanke has cooked the books with QE2 and now it’s coming to a close.

The only way that will the jobs picture will be better next year is if the numbers go down another 10%, then go back up 5%.

In Democrat math this is a vast improvement.