Posted on 01/10/2014 5:42:52 AM PST by John W
Job creation stumbled in December, with the U.S. economy adding just 74,000 positions even as the Federal Reserve voted to take the first steps in eliminating its stimulus program.
The unemployment rate dropped to 6.7 percent, below economist estimates and due primarily to continued shrinkage in the labor force. The labor force participation rate tumbled to 62.8 percent, its worst level since January 1978.
(Excerpt) Read more at cnbc.com ...
What a bunch of cr*p statistics.
Obviously unemployment isn’t getting better.
We need JOBS.
Not fiddling with statistics. Bring back US jobs.
Yep. Exactly.
From Business Insider:
The Jobs Report just came out and it was very bad.
The 74K new jobs was much worse than the 200K that was expected.
But at the same time, there was a HUGE drop in the unemployment rate, from 7.0% to 6.7%.
There was also a big drop in the Labor Force Participation Rate, which helps the unemployment rate to fall.
So now Janet Yellen has a slightly tricky position. This number does not suggest an economy that’s hitting “escape velocity.” But on the other hand, we’re getting closer to unemployment levels where the Fed might be inclined to tighten. But on the third hand, we don’t know how “clean” that unemployment number is because fo the ongoing decline in Labor Force Participation Rate.
So things just got a bit trickier for Janet Yellen, who now doesn’t have a smooth path out of the current plan.
Read more: http://www.businessinsider.com/things-just-got-trickier-for-janet-yellen-2014-1#ixzz2q0IYD6bC
No all of these numbers are seasonally adjusted and account for those sorts of things. Seasonal adjustments are used to make all data point comparable.
We’ve got the most corrupt government on the planet right now.
Somebody is doing something right.
And the weekly chocolate ration has been increased from 30 to 20 grams!
Obama be praised!
“The unemployment rate dropped to 6.7 percent, below economist estimates and due primarily to continued shrinkage in the labor force. The labor force participation rate tumbled to 62.8 percent, its worst level since January 1978”
The attempted Forced Federal Concentration Camp U.S. Territory is going to meet total resistance by the free people.
It’s all my fault. I just changed my TSP allocations.
Oh, no! Look at all those unemployed moochers that so many at FR hate! And they all voted for Obama! They deseve what they get!
The unemployment rate is a ratio. The denominator is the number of persons in the labor pool. The denominator is slipping faster than the numerator which is the number of new unemployed.
The labor pool is shrinking because people have given up or are underemployed and are working multiple jobs. Persons who take a second or third job are not reducing the number of unemployed.
When the underemployed and frustrated are factored in, the unemployment rate is well over 16%.
Personally I know people that are still waiting to bounce back from 2009. In the next 5 to 6 years I don’t think they will ever have the opportunity.
I have heard from several young people that they have taken second and third jobs. Although they are naturally upbeat at their young age they are increasingly frustrated. They’re also bright enough to know that dramatic increases in the minimum wage will result in losing a job or two.
Under Obama the USA is in decline largely because of his policies.
I heard that kind of number last week -- it was be in the very high 11% range. Just this report probably raises that to the low 12% range now, which would in fact be in the 13%'s if we didn't count the military as "persons employed" as we did before they made one of their "adjustments" in the the 1982 recession.
Notice in the chart it was even lower pre-1979. That’s because there were a lot more single income families back then.
Good luck with getting the MSM to use U6 instead of U3. Here on FR, the always-wrong kindergarten economists were ridiculing such a notion and fighting it hammer and tong at least as far back before the housing bubble blew up.
This is a political lie to improve prospects in the 2014 midterms.
This is only going to get worse for those who depend on the public believing those numbers.
Back then, you didn’t have to work three jobs to support your government leech.
“But on the other hand, we’re getting closer to unemployment levels where the Fed might be inclined to tighten”
And due to Federal attempted takeover (higher prices-—watch prices rise even further), the smaller number of EMployed will be paying higher and higher to federal program scams, including the Extortion-Care attempt.
Indeed. It’s important to note that they were single income families because they didn’t need to be two income families. Now in many cases single-income families used to be two income families and they’re in trouble. Any participation number today in fact signifies far more economic distress than a comparable number back then.
At this rate, we’ll be at “full employment” by June!
Funny math, indeed. At this rate the endgame is a reported unemployment rate of near zero, with those employed working for the government. /S
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