Posted on 05/02/2014 9:00:21 AM PDT by Oldeconomybuyer
The household survey is simply insane. Do not pay any attention to it. Do not make eye contact. Just calmly walk away.
It’s simply not believable that the labor market contracted so violently according to one survey, while at the same time a separate survey of business establishments showed strong payroll growth of 288,000.
Consider this: The jobless rate fell because 733,000 fewer people were considered unemployed. That’s the largest one-month decline since 1949, when unemployment fell by 920,000 when two large national strikes concluded.
Nothing like that happened in April.
(Excerpt) Read more at marketwatch.com ...
In the defense industry people are being laid off by the thousands.
Wow, this is coming from Rex Nutting.
LOL
Is it possible that 733,000 people died in April? That would explain it.
Regards,
No, its the number of people dropped from the unemployment compensation rolls...........remember? Once you stop receiving unemployment, your officially no longer counted as unemployed.
Regards,
All of these statistics and numbers are pure bat guano.
The current Drudge headline states, “92,594,000: AMERICANS NOT WORKING HITS RECORD”.
Considering there are 314,000,000 Americans total, that would place the unemployed at about 29.5% not 6.3%.
Where do they get any of the numbers.
I’m thinking, “Thin Air”.
The unemployment rate isn't calculated from the list of people getting unemployment compensation. You can be unemployed without getting compensation if you were fired, haven't had a job yet, were an owner of the company (rather than an employee) that went out of business or just ran out of unemployment compensation time. On the other hand if you are in an approved retraining class you can continue collecting unemployment without counting as unemployed because you aren't actively looking for a job.
To count as unemployed you have to be not working, actively looking for a job in the last four weeks and available for work (so full time students who don't have jobs aren't in the labor force). Unemployment compensation generally has a job search requirement, so there is some overlap in the two numbers.
I think this means we’ll soon see inflation.
The main reason we have a drop in unemployment and labor participation is the retirement of baby-boomers combined with entitlement spending.
This is going to tend to reduce aggregate production. A drop in aggregate production combined with increased demand creating by entitlement spending is going to drive prices up.
In other words, we’ve got a huge number of people that are going to stop producing while continuing to consume. If younger workers were replacing these retirees in the job market, that would tend to limit inflation as the new workers would help maintain production, but that’s not happening.
This is one alternative: Production in China can rise as retiree’s consumption is made possible by increases production in China financed by government debt increases. As long as production in China continues to grow, inflation stays in check.
This might be worse than inflation in the long term, though, since it amounts to promising assets in the future to fund consumption today. New York City is already seeing large increases in Chinese ownership of properties.
There are too many of us that are not being counted.
When liars report stats you know the stats are lies. And the current administration has more liars than there are Obamacare participants.
Unlikely. About 2.48m people die yearly, and a high percentage are old and out of the labor force.
5% unemployment is considered “full employment”, as in, everyone that wants a job has a job and from then on it’s just “churn” of the same people taking different jobs.
So, they’re trying to tell us that the current unemployment rate is only 1.3% higher than that condition?
Huh?
It looks like the numbers you count as unemployed include my 14 and 9 year old children and their mid-70s retired grandparents.
Reagan manipulated the unemployment rate by adding in the active military. Clinton manipulated the unemployment survey by no longer doing the survey in inner-cities. He re-instated inner-city surveys just before the end of his 2nd term, thereby causing Bush’s unemployment numbers to look bad. Who knows what ‘magic’ Obama is using.
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