Skip to comments.US jobless rate falls, but labor force shrinks (Labor Dept. fudges numbers)
Posted on 02/03/2012 9:53:07 AM PST by tobyhill
US businesses cranked up hiring in January in a burst of job growth that pulled the US unemployment rate down to 8.3 percent, nearly a three-year low, official data showed Friday.
But Matt McDonald at Hamilton Place Strategies said the decline in the labor force participation rate, to 63.7 percent from 64 percent in December, was a worrying sign that people are still dropping out of the workforce.
"If that full participation rate is the goal, our economy is 'missing' 3.8 million workers," McDonald said.
The blockbuster jobs report blew past expectations, providing a shot of good news for President Barack Obama's reelection bid in November. The economy added 243,000 net jobs last month, the Labor Department reported, much better than the average analyst forecast.
Businesses put 257,000 jobs on their payrolls, while government layoffs, which had limited net jobs generation over the past two years, declined.
(Excerpt) Read more at gmanetwork.com ...
The list, Ping
Let me know if you would like to be on or off the ping list
Any doubt that fudging numbers will continue right through the election cycle?
Where is the truth in all this? Something(s) esoteric and arcane, or a simple source where reality and objectivity are more important than the “party line?”
This says it all. The Lame Stream Media is playing this game with Obama and they too need to be called out on it. Anyone with even a basic understanding of math how this works.
Shrink the pie but give the same amount then you get a bigger percentage.
The author must not be very familiar with English conjunctions. The proper word is "because".
If they massage these numbers any harder, they will get busted for prostitution.
The sudden drop is labor participation at the end of the year seems odd. It isn’t like “stop looking for work” is a New Year’s resolution. Did unemployment benefits and thus labor participation cut off recently?
Rick Santelli: Heres Whats Wrong With the Jobs Number
Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low | ZeroHedge
A report coming from 0dumb0’s labor dept indicating 243,000 jobs added.... yah, right, like the numbers are completely distorted by 0dumb0’s fellow socialist liars. But I did see headlines on a Mpls Red Star Tribune, absolutely gloating about this “good news”. RAT bastard lying pigs. Guess they forgot to talk about the 1.2 million people who dropped off the unemployment rolls.
Anyone who “believes’ 8.3% is clinically insane, a liar, a democrat, or on crack.
More likely all of the above.
FUDGED numbers just like they did when they rammed threw 0’care with the Medicare numbers.
UNTIL WE FIX DC, AND I MEAN CONGRESS AND PRESIDENT to limit their golden pay, perks, vacations, Platinum for life healthcare at tax Slaves expense, we will NOT FIX much.
They have to be brought down from their god position to common man’s position, pay into SS and Medicare and go on BC/BS and pay premiums and their pay raises are tied to Military and SS COLA raises, it can’t exceed what they give granny or our retired Military.
And TERM LIMIT THEM! No more kennedy dynasty’s.