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Record 1.2 Million People Fall Out Of Labor Force In One Month
Zerohedge.com ^ | Feb. 3, 2012 | Tyler Durden

Posted on 02/03/2012 7:10:28 AM PST by Rennes Templar

A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is to crush the labor force participation rate to about 55%. Looks like the good folks at the BLS heard us: it appears that the people not in the labor force exploded by an unprecedented record 1.2 million.

No, that's not a typo: 1.2 million people dropped out of the labor force in one month! So as the labor force increased from 153.9 million to 154.4 million, the non institutional population increased by 242.3 million meaning, those not in the labor force surged from 86.7 million to 87.9 million. Which means that the civilian labor force tumbled to a fresh 30 year low of 63.7% as the BLS is seriously planning on eliminating nearly half of the available labor pool from the unemployment calculation.

As for the quality of jobs, as withholding taxes roll over year over year, it can only mean that the US is replacing high paying FIRE jobs with low paying construction and manufacturing. So much for the improvement.

(Excerpt) Read more at zerohedge.com ...


TOPICS: News/Current Events
KEYWORDS: bhoeconomy; bhofascism; corruption; democrats; economy; elections; fraud; nobama2012; obama; obamacampaign; obamadepression; obamalies; unemployment
8.3% unemployment has only one basis in reality, that being it is part of BO's re-election campaign.
1 posted on 02/03/2012 7:10:30 AM PST by Rennes Templar
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To: Rennes Templar

Beatcha!


2 posted on 02/03/2012 7:12:26 AM PST by Sudetenland (Anybody but Obama!!!!)
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To: Rennes Templar

obama regime trick figures may look to improve the unemployment rate but unlike a true recovery, that will not translate to more tax revenues.

Only productive citizens pay taxes. People who drop out of the labor force are not paying taxes, they are eating them.


3 posted on 02/03/2012 7:14:38 AM PST by silverleaf (Common sense is not so common- Voltaire)
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To: Rennes Templar

So they get the smaller percentage by dishonestly reducing the numerator of the equation.


4 posted on 02/03/2012 7:17:21 AM PST by circlecity
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To: Rennes Templar

No one is looking for work according to the liars, and everyone who wants a full-time job has one. The unemployment rate is -47.56%. Full employment. According to the Ministry of Truth.


5 posted on 02/03/2012 7:18:21 AM PST by LowTaxesEqualsProsperity
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To: Rennes Templar

*


6 posted on 02/03/2012 7:24:24 AM PST by PMAS (Romney = Democrat tested, Soros approved)
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To: Rennes Templar

We are making slow and steady progress destorying America.


7 posted on 02/03/2012 7:26:57 AM PST by Leep (It's gonna be a Newt day!)
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To: Leep

It is about to speed up. Each day the speed increases a little over the former day.


8 posted on 02/03/2012 7:29:46 AM PST by sport
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To: Rennes Templar
Lowest labor force participation rate in 30 years.

But don't worry. We're all doing great. I'm feasting on bogus statistics, and I'm fat and happy.

9 posted on 02/03/2012 7:31:45 AM PST by ClearCase_guy (When the night falls, it falls on me, and when the day breaks I'm in pieces.)
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To: silverleaf

Tax revenue. The reason for the mania to raise taxes is precisely to help cover up the declining number of real taxpayers.


10 posted on 02/03/2012 7:32:34 AM PST by jjotto ("Ya could look it up!")
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To: Rennes Templar

But the civilian employment to population ratio is STILL 58.5%, the same level as the Carter-era Malaise.

Administration claims the 1 million plus is false since there is a seasonal adjustment and actually 75,000 people were ADDED to the labor force.

But even with that rigging of the data, the employment to population ration remains at 58.5%.

http://confoundedinterest.wordpress.com/2012/02/03/unemployment-rate-drops-to-8-3-but-median-duration-of-unemployment-increases-to-21-1-weeks/


11 posted on 02/03/2012 7:39:03 AM PST by whitedog57
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To: ClearCase_guy

I am reminded of a truism: if you torture numbers long enough, you can get them to admit to anything.


12 posted on 02/03/2012 7:42:48 AM PST by andy58-in-nh (America does not need to be organized: it needs to be liberated.)
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To: All

b


13 posted on 02/03/2012 7:49:11 AM PST by Maverick68
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To: jjotto

“Tax revenue. The reason for the mania to raise taxes is precisely to help cover up the declining number of real taxpayers.”

Yes I think the true measure of how the economy is doing is Tax revenue, especially State tax revenue’s.

By law people have to report their incomes and the Tax revenue shows both the number of people working and how much money they are making....


14 posted on 02/03/2012 7:52:46 AM PST by desertfreedom765
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To: desertfreedom765

By law people have to report their incomes and the Tax revenue shows both the number of people working and how much money they are making....
_____________________________________________________________
People don’t obey laws anymore. They cheat, defraud, manipulate anything they can. There is a growing underground work force that doesn’t pay taxes. People are bartering for things and using unlicensed services. Young families are getting divorced so that one of the parents can claim all the freebies...the “family” is still living together. As numbers appear to be looking better, they’re actually doubly worse.


15 posted on 02/03/2012 8:01:34 AM PST by sanjuanbob (Festina Lente)
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To: sport
“It is about to speed up. Each day the speed increases a little over the former day.”

This kind of progress used to be referred to as a ‘Quickening’.

16 posted on 02/03/2012 8:04:33 AM PST by fella ("As it was before Noah, so shall it be again.")
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To: Rennes Templar

The feds should stop putting out these almost useless employment stats which are abused by both parties. We should start a new set of stats that actually tell us something. Maybe stats that account for all working age Americans:

1. Full time employed
2. Temporary or part-time employed
3. Unemployed and seeking work
4. Unemployed no longer seeking work
4. Those not working and on welfare
5. The independently wealthy who do not need employment

Those categories probably need some refinement, but the feds need to be stopped from their game playing and required to provide meaningful stats concerning the employment/unemployed/living off the government situation.

And maybe some stats to indicate the status of our retirement age population.


17 posted on 02/03/2012 8:11:32 AM PST by Will88
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To: sanjuanbob

No doubt everything you said is true. In a past job I knew someone who bounced from Temp work to Unemployment, all while having a side business. (and collecting freebee’s). Disgusting.

Still the law is the law and that does make it more accurate than the bogus unemployment rate.

Virtually all States have having budget problems in this Wonderful economy.


18 posted on 02/03/2012 8:12:37 AM PST by desertfreedom765
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To: Will88

And we’d need a category for homemakers, who perform one of the most important tasks.


19 posted on 02/03/2012 8:14:45 AM PST by Will88
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To: Will88
Unemployment Definition - Abbott and Costello

COSTELLO: I want to talk about the unemployment rate in America .
ABBOTT: Good Subject. Terrible times. It's 9%.

COSTELLO: That many people are out of work?
ABBOTT: No, that's 16%.

COSTELLO: You just said 9%.
ABBOTT: 9% Unemployed.

COSTELLO: Right 9% out of work.
ABBOTT: No, that's 16%.

COSTELLO: Okay, so it's 16% unemployed.
ABBOTT: No, that's 9%...

COSTELLO: Wait a minute. Is it 9% or 16%?
ABBOTT: 9% are unemployed. 16% are out of work.

COSTELLO: IF you are out of work you are unemployed.
ABBOTT: No, you can't count the "Out of Work" as the unemployed. You have to look for work to be unemployed.

COSTELLO: BUT THEY ARE OUT OF WORK!
ABBOTT: No, you miss my point.

COSTELLO: What point?
ABBOTT: Someone who doesn't look for work, can't be counted with those who look for work. It wouldn't be fair.

COSTELLO: To whom?
ABBOTT: The unemployed.

COSTELLO: But they are ALL out of work.
ABBOTT: No, the unemployed are actively looking for work. Those who are out of work stopped looking. They gave up. And, if you give up, you are no longer in the ranks of the unemployed.

COSTELLO: So if you're off the unemployment roles, that would count as less unemployment?
ABBOTT: Unemployment would go down. Absolutely!

COSTELLO: The unemployment just goes down because you don't look for work?
ABBOTT: Absolutely it goes down. That's how you get to 9%. Otherwise it would be 16%. You don't want to read about 16% unemployment do ya?

COSTELLO: That would be frightening.
ABBOTT: Absolutely.

COSTELLO: Wait, I got a question for you. That means they're two ways to bring down the unemployment number?
ABBOTT: Two ways is correct.

COSTELLO: Unemployment can go down if someone gets a job?
ABBOTT: Correct.
OSTELLO: And unemployment can also go down if you stop looking for a job?
ABBOTT: Bingo.

COSTELLO: So there are two ways to bring unemployment down, and the easier of the two is to just stop looking for work.
ABBOTT: Now you're thinking like an economist.

COSTELLO: I don't even know what the **** I just said!

And now you know why Obama's unemployment figures are improving!


20 posted on 02/03/2012 8:19:08 AM PST by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working for)
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To: Rennes Templar
I just called the Labor Dept and told them to quit fudging the numbers.

I was told that part of the sampling was due to an adjustment in the annual benchmark where fewer companies are sampled so any increase in employment will result in a larger drop of unemployment percentage. The actual unemployment rate including those that gave up looking in 15.1%.

There was 137 million available jobs in Jan. 2009 but today they only calculate 135 million “available” jobs.

21 posted on 02/03/2012 8:24:32 AM PST by tobyhill (Obama, The Biggest Thief In American History)
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To: MrB

That is great MrB!


22 posted on 02/03/2012 8:24:46 AM PST by bp22 (Millions of Americans worship a supreme being whose name is not Obama.)
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To: MrB

A very good definition from Abbot and Costello, and a good explanation of why these statistics games played by the feds need to be stopped. About a half-dozen stat categories that they probably already have, if put together to add up to 100%, would give us a real picture of what is going on with our working age population.

And it should be against the law to release any employment stats without telling us what percentage of working age adults are on welfare.


23 posted on 02/03/2012 8:30:54 AM PST by Will88
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To: Will88

Never would work, those figures can’t be manipulated. But you are 100% right. Just aggravating why we can’t have straight forward communication on this.


24 posted on 02/03/2012 8:36:39 AM PST by Rennes Templar
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To: Rennes Templar

The MSM won’t care about bad numbers until a Republican’s in office.


25 posted on 02/03/2012 8:44:20 AM PST by GOPJ (GAS WAS $1.85 per gallon on the day Obama was Inaugurated! - - freeper Gaffer)
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To: sanjuanbob
People don’t obey laws anymore. They cheat, defraud, manipulate anything they can. There is a growing underground work force that doesn’t pay taxes. People are bartering for things and using unlicensed services. Young families are getting divorced so that one of the parents can claim all the freebies...the “family” is still living together. As numbers appear to be looking better, they’re actually doubly worse.

This is exactly what happened in the old Soviet Union and for the same reasons. Government...Government...Government. God save the Republic!

26 posted on 02/03/2012 8:47:15 AM PST by Don Corleone ("Oil the gun..eat the cannoli. Take it to the Mattress.")
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To: Rennes Templar

Obama is still counting on the stupidity of the majority of the country. Hey! An American Idol re-run is on! Gotta go!


27 posted on 02/03/2012 8:49:47 AM PST by crosshairs (Liberalism is to truth, what east is to west.)
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To: Will88

Scrutinize the next unemployment report directly at the http://www.bls.gov without getting it filtered through the attention-deficit media. You’ll see some of those breakdowns there as U4 through U6.


28 posted on 02/03/2012 10:08:32 AM PST by jiggyboy (Ten percent of poll respondents are either lying or insane)
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To: Rennes Templar

Another 10 million dropping out by November will get the rate under 7% and happy days are here again.


29 posted on 02/03/2012 10:11:02 AM PST by AU72
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To: Rennes Templar
http://data.bls.gov/timeseries/LNS11300000

You can pick the time span at the top of the page.

30 posted on 02/03/2012 10:17:39 AM PST by Chgogal (WSJ, Kristol, Krauthammer, Rove et al., STFU. Thank you.)
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To: Rennes Templar
Related:

US jobless rate falls, but labor force shrinks (Labor Dept. fudges numbers)

31 posted on 02/03/2012 10:24:51 AM PST by EdReform (Oath Keepers - Guardians of the Republic - Honor your oath - Join us: www.oathkeepers.org)
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To: Rennes Templar

not watching FOX so I have tried to watch CNN in the morning,
how on this earth can anyone take that channel seriously, they were all cheering up the unemployment figures, yesterday the debt has gone down, yea it is now only being spent 1.2 tril instead of 1.3 tril.

You’d have thought everyone was doing well if you watch the MSM, funny how they did not mention any of the real figures.

We all knew the MSM was going to fudge numbers and not report the real figures to help their messiah.
This is another reason why we need someone with balls in that whites house and it is not Romney, we need an investigation into the MSM working with this white house to get him elected and covering for him and ten have it go public.


32 posted on 02/03/2012 10:47:31 AM PST by manc (FOX, DRUDGE, HAS BEEN DISGUSTING IN THEIR BIASED ATTACKS V NEWT. I HATE OUR BIASED LIBERAL MEDIA.)
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To: Rennes Templar
Hmmmm....The workforce participation rate drops by 1.2 million in a month.

Wow!!! At that rate the population of the country would go to zero in less than a decade.

33 posted on 02/03/2012 11:19:17 AM PST by NRG1973
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To: Will88
So they get the smaller percentage by dishonestly reducing the numerator of the equation.

The problem is the way they define "no longer seeking work". If you are not getting unemployment, they say you are no longer seeking work. My sister in law has been "no longer seeking work" for almost 2 years now, despite applying to several positions per week.

Her unemployment benefits ran out less than a year and a half after she lost her job due to the hospital where she worked being sold to another entity. She lived in a state where unemployment was low enough that they didn't get the last increment of federal "emergency" benefits. So she got 6 months of state benefits plus 47 weeks of federal benefits. She's been out of work for something like 3 years now.

In my case, I've only had two jobs since getting my master's back in '77. Laid off from both of them. The first under the Clinton Consolidation of the defense industry, and now under the Obama cuts. I've "only" been out of work for about 13 months. I'll run out of unemployment benefits in about 4 more months, if I haven't found something by then. That's 6 months of state benefits and 47 weeks (about 10.5 months) of federal benefits. That "benefit" is less than 1/4 of my previous salary. And it's taxable, as is my severance pay from the lay off.

34 posted on 02/03/2012 2:24:28 PM PST by El Gato ("The second amendment is the reset button of the US constitution"-Doug McKay)
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To: MrB
No, the unemployed are actively looking for work. Those who are out of work stopped looking. They gave up. And, if you give up, you are no longer in the ranks of the unemployed.

It's actually worse than that. Even if you continue to look for work, if you aren't getting unemployment then you aren't counted as looking for work, and thus as unemployed. Plus, if you are working part time as burger flipper, instead of your normal occupation of Rocket Scientist, you aren't counted either.

35 posted on 02/03/2012 2:29:03 PM PST by El Gato ("The second amendment is the reset button of the US constitution"-Doug McKay)
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To: circlecity
So they get the smaller percentage by dishonestly reducing the numerator of the equation.

Actually they reduce both the numerator and the denominator. But until we get to the point were the discouraged are nearly as many as the labor force they will be reducing the numerator by a much higher fraction.

%unemployed = 100 *
(number "looking for work")/((number employed) + (number "looking for work"))

If they don't count as "looking for work" those who really are actually still looking but who can no longer get unemployment benefits that decreases both numerator and denominator, but the numerator by a larger fraction, and thus the %unemployed number decreases. Even if the "number employed" increases less than the number actually looking for work does, and even if it decreases.

36 posted on 02/03/2012 2:42:15 PM PST by El Gato ("The second amendment is the reset button of the US constitution"-Doug McKay)
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To: Rennes Templar

Now this is way so complicated for some; like talk show guy, Hughes H. Changing denominators and such, not withstanding the mathmatically challenged, this _is_ a significant reason USG unemployment is getting better, so quickly, too.


37 posted on 02/06/2012 12:48:41 PM PST by veracious
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