Posted on 05/04/2012 5:33:55 AM PDT by TonyInOhio
Developing
This is the great statistical fakery of the whole endeavor: if they call you and say you just gave up looking for a job, they don’t count you as unemployed. For purposes of the survey, you’re retired and happy with no money worries.
U6 unchanged at 14.5%
they said the workforce participation, (i believe it represents the number of people in the workforce looking for work- someone please correct me if i’m wrong), is the lowest since 1981- there was a collective gasp of horror from the CNBC crew when that was mentioned...
(Wait, "Eric Holder"?)
That statistic is true but only half, well, maybe one-forth of the story. That number is only for 2012, i.e., every single week so far. Looking backward into 2011, 59 out of 60 weeks have been "revised" upward.
I put "revised" in quotes because something that is "revised" that much is not simply incorrect -- it's skewed.
from zerohedge.com
it is just getting sad now. In April the number of people not in the labor force rose by a whopping 522,000 from 87,897,000 to 88,419,000. This is the highest on record. The flip side, and the reason why the unemployment dropped to 8.1% is that the labor force participation rate just dipped to a new 30 year low of 64.3%.
I agree completely. But I also believe that 8% is NOT a magic number. People don't sit out there in voter land and say "Great, the number is now 7.99999%, so now I will vote for Obama." Instead, people look at their friends, neighbors, family members, and say "Oh, oh, we're in trouble". They will see that regardless of whatever contrived number the Obama administration manages to publish.
If you can stomach it, watch ABC,CBS and NBC nightly news tonight lol. They will spin this as great. However, nobody watches those shows anymore.
Holder on the brain, apparently.
I meant, FNS’s Eric Bolling.
A thousand apologies to Mr. Bolling.
I posted an article by Elizabeth McDonald of Fox News the other day that said 59 of the last 60 weeks had “revised up” figures.
Fewer jobs but U3 drops to 8.1%? Orwellian.
The fix is in. They’ll force a 7.9% report by October at the latest, truth be damned!
John Kerry, 3/6/2004:
“President Bush has overpromised and underdelivered on job growth.” Unemployment rate then: 5.6%
John Kerry 05/04/2012 : SILENT
OOPS sorry for the duplicate post!
Let me guess.. the drop to 8.1% is a result of tens of thousands of potential workers being abducted by aliens.
These reports are getting downright comical.
And CNBC won’t mention it at all. “Hey look over here! Facebook IPO! Oil less than $100 a barrel! Trouble in Europe! Apple!”
A new record has also been set. 88.4 million people are not in the workforce.
Unless Washington has a remake, and the Oboma Administration is fired, things are going to get a lot worse.
Over the last 15 weeks, the revised numbers, those numbers reported in secret, have added 92 thousand more unemployed people that go unnoticed.
Unemployment rate is:
number of people looking for work
--------------------------------------------------------------
number of people looking for work + number of people working any job.
When you reduce the number of people looking for work because they just gave up under the Obama economy, then unemployment goes down. And that doesn't even count the number of people working who want a full time job but can only scrounge up a part time job.
Don't be surprised if they tighten up the definition of "looking for work" between now and November. Right now you are looking for work if you can accept a job immediately (not when you get done with classes next month) and have mailed or posted a resume or application in the past four weeks. Reduce that to two weeks and eliminate relatively passive posting of the resume on the internet so you only count actual mailing or in person filing and the unemployment rate drops instantly.
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