Bullish!
It is. The whole GOP economic argument for unseating Obama is losing steam as well. Not that these numbers are true or accurate, but they’re solidfying the narrative that Obamunism is the light.
You can’t spell “BLS” without “BS.”
How can this possibly be reconciled with the Gallup figures?
Had to chuckle watching Chris Wallace on F&F touting the report as good news for Obama, yada yada yada.
Then, Eric Bolling pointed out that the report showed a lack of jobs created in construction and manufacturing, while most of the ‘new’ jobs were in services [as in hamburger flippers and other low pay, entry level type jobs].
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Stuart Varney talking about this being a ‘modest’ recovery. Not a good rate at this stage of the recovery. Record higest deficit ever — meaning that the debt ceiling will probably have to be raised by the end of the year.
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[Bolling pointed out that zero jobs were created in construction industry. So much for all those infrastructure, shovel ready, and similar jobs the $Trillions of dollars in new debt were supposed to create.]
Why is that? These numbers are not good, I know mr obama is graded on a curve but not this curved
So they are manipulating the numbers and having the msm repeat the lie. Did anyone expect anything less on any front? But here is the thing. You think that the 19.1% underemployed is going to watch Wallace or Matthews or whoever and say “screw reality, everything is just fine because the media says so!!!”. Stories don’t pay the bills.
Blue smoke and mirrors. Telling Americans who have it bad that they don’t ain’t gonna fly.
“NFP Prints At 227K On Expectations Of 210,000, Unemployment Rate At 8.3% Boosted By Temp Jobs”
“...Professional and business services added 82,000 jobs in February. Just over half of the increase occurred in temporary help services (+45,000).” Also, that Birth Death added 91K is also taking away from the lustre of the headline which is diamtetrically opposite of what Gallup found yesterday.”
http://www.zerohedge.com/news/nfp-prints-227k-expectations-210000-unemployment-rate-83
If the economy adds about 208,000 jobs per month, which was the average monthly rate for the best year of job creation in the 2000s, then it will take until March 2024—over 12 years—to close the jobs gap. Given a more optimistic rate of 321,000 jobs per month, which was the average monthly rate for the best year of job creation in the 1990s, the economy will reach pre-recession employment levels by February 2017—not for another five years.
227,000 jobs a month is barely treading water. Hell, we bring in 125,000 LEGAL foreign workers a month now. If anyone thinks that 8.3% unemployment (closer to 9% if you believe Gallup) and 227,000 jobs a month guarantees Obama a second term, then you must be an Obamabot hooked on his hope and change rhetoric.
If you use non-seasonally adjusted numbers, and take the BLS U-6 number [which includes under employed], then add back those not in the civilian labor force who want a job, you come close to Gallup’s 19.1% unemployment number.
“The civilian labor force participation rate, at 63.9 percent, and the employment-population ratio, at 58.6
percent, edged up over the month. “
These are the most important single statistics as they tell how many people are living off of the labors of those that are working. Doesn’t matter why the nonworkers aren’t working. A bunch aren’t working because they are retired or for other reasons unrelated to the state of the economy.
Also, automation puts people out of work.
The “unemployment rate” fiddle faddles with the definition of who’s “unemployed”.
In the final analysis, a society becomes unhealthy when too few workers are supporting too many nonworkers.
If you buy Bobo's numbers. I don't.
Want REAL, believable numbers? Go to Gallup.
There are over 2 million more than a year ago “not in the labor force”. Gone, just gone!
The participation rate is still .3% less than it was a year ago. Gone, just gone!
Add those components back to where it was a year ago and I guarantee the Unemployment Rate will be exactly where it was a year ago, 9%.
From BLS Frequently asked questions,
“Are undocumented immigrants counted in the surveys?
It is likely that both surveys include at least some undocumented immigrants. However,
neither the establishment nor the household survey is designed to identify the legal
status of workers. Therefore, it is not possible to determine how many are counted in
either survey. The establishment survey does not collect data on the legal status of
workers. The household survey does include questions which identify the foreign and
native born, but it does not include questions about the legal status of the foreign
born.”
Landscape Season!!!
They added an additional 13,000 temp jobs in one month.
Where did these all come from?
http://www.bls.gov/news.release/empsit.b.htm
They can make up "employment" numbers, but they can't make up state personal income tax revenue numbers. Which most states release monthly, BTW. :-)
Capiche?
I predict that when someone from the BLS finally talks about the blatant manipulation of the numbers it will be ignored or chuckled at by the media.
There are 2 million FEWER total number of jobs today than when Obama was anointed. The unemployment number will soon reach zero when every one will be discouraged and stop looking for jobs.
I am sure the smart people at FR are well aware that the 8.3% unemployment does NOT count those discouraged workers who are not looking for jobs, and those who are working part-time and those who are working in jobs below their skill level for lack of better jobs.
Add to the cities’ debt , the federal one at 17 $ trillion , exploded by democrat Obama’s 5 trillion borrowed.
Over 100 trillion in unfunded liabilities, massive state ,local and federal debt, massive consumer debt and much more.
That this society will collapse is a mathematical certaintity. Any fool can see that but the media lies and says the economy is improving: NO we are living off of and on debt.And Obama borrowing 5 trillion instead of cutting government and implementing austerity measures now ensures a collapse. Palin wanted to cut government spending and drill for oil. The liberal media called her dumb and many believed it. But she would have still won.And who is dumb now?