Payrolls Surge By 236,000 In February, Following Big Downward Revision, Unemployment Rate Slides....

Zero hedge ^

[Perdogg]

February payrolls rose by a whopping 236,000, much better than the 165,000 expected. However this takes place as the January number was revised from 157K to 119K. The unemployment rate slides to 7.7%, on expectations of a 7.9%. This was the lowest unemployment rate since December of 2008. The civilian labor force dropped as usual from 63.6% to 63.5%. The household survey saw an increase of 170K jobs in February, following a 17K increase in January.

[Go Gordon]

They had to show the numbers getting better, so that in a couple months they can put the bad numbers back up and blame the republicans, and validate Obama’s predictions of sequester doom and gloom.

[Mrs. Frogjerk]

If somebody has to go out and work two part time jobs to get by, are these jackasses counting those two jobs as two new jobs?!

Something smells awful here.

I wonder what the “downward” adjustment will be next week.

[Henri Gaudier-Brzeska]

Made up numbers by made up experts.

[petro45acp]

Lies

Damn lies

Statistics

[expat_panama]

I like pundits thinking for me as much as the next guy, but here are the actual numbers from the BLS website:

 

Category	Dec.	Jan.	Feb.
	2012	2013	2013
Employment status	[Numbers in thousands]
Civilian noninstitutional population	244,350	244,663	244,828
Civilian labor force	155,511	155,654	155,524
Participation rate	63.6	63.6	63.5
Employed	143,305	143,322	143,492
Employment-population ratio	58.6	58.6	58.6
Unemployed	12,206	12,332	12,032
Unemployment rate	7.8	7.9	7.7
Not in labor force	88,839	89,008	89,304

What we got is that over the past couple months we're seeing 187,000 more jobs for a population that grew by 422,000 more people.

Oh goody.

[jiggyboy]

Looks like the fakery in the jobs report is going mainstream today, and all of a sudden.

“They” started a pretend reversal at about 10:12. I say “pretend” because that is definitely not a scheduled ramp time. (The usual starts are 9:45 when options open, 10:30 when oil closes, 11:30 when Europe closes, and noon. And yes that difference between 10:12 and 10:30 is all the difference in the world.)

Down we go today.

[ExNewsExSpook]

One more thought: Obama and the alchemists at the BLS know what’s coming down the road; the military is preparing to get rid of at least 220,000 service members—possibly more—by 2015, with most of the cuts coming in the Army and the Marine Corps. Most of those leaving will move onto the civilian unemployment rolls (many don’t realize that unemployment payments is a multi-billion dollar line item for the Pentagon each year).

On top of that, Obama’s budget cuts and sequestration will eliminate upwards of 700,000 defense contracting jobs in places like VA and CA. I heard yesterday that the first round of pink slips just went out at places like Newport News Shipbuilding in Virginia. Those numbers will surge in the coming months.

The “numbers” plan is simple. Drive the unemployment rate as low as possible before the sequestration effects arrive. Barry and his advisers know that low information voters will tolerate an unemployment rate below 8 percent (the “new normal”). But anything above 8% is a danger zone. Wouldn’t surprise me to see UE drop to around 7.1-7.2% by early summer, with the full expectation that defense cuts will push it back to around 8% by later this year.

[GoldenPup]

Unemployment Rate Slides....

THEY COOKED THE BOOKS!!!

Bunch of lying bastards.

[SeekAndFind]

Here’s a bit of reality:

We are 147k behind the jobs created for Jan and Feb 2012 so far.

Feb 2013 job creation: 236k

Feb 2012 job Creation: 271k

[matt04]

No doubt with a union mandated 7 minute break.

[sarge83]

Bingo! Its just retailers moving around the employment furniture to avoid current and future taxes from the fools in DC.

And this may be the new normal, lots of part time jobs because no business wants to offer a full time gig and pay out the nose with all the government enforced BS that goes with it.

[TwelveOfTwenty]

Fantasy.

Yup, here's the reality.

From Paper or Plastic Recovery: Multiple Job Holders Increase, Full-Time Workers Decrease, "But if we get down to the real nitty gritty of the numbers, you can see that full-time workers actually FELL while part-time workers ROSE."

And from the BLS, Table A-9. Selected employment indicators

[Wj33]

When the numbers move around this much and defy expectations this much, it just highlights the fact that it is all made up and the “experts” have no idea what is really going on. They just want it to look good.

And, they are probably fudging the numbers. Make that not probably, THEY ARE FUDGING THE NUMBERS.

[Chode]

yeah, right...