Posted on 10/05/2012 11:45:46 AM PDT by Abiotic
We already noted the absolutely stunning surge in reported Household Survey jobs which "added" 873,000 jobs, or the most since 2003 and the second most in the past decade, which was just a little bit off the Household Survey used in the monthly NFP jobs changes, which came at 114,000, or about 8 times less. But what was the reason for this epic jump in Household survey jobs? Simple, and those who have read our series on America's transition to a part-time worker society know the answer. The reason is that the number of part-time people employed for economic reasons soared by 582,000 to 8,613,000, the most since October 2011, and the largest one month jump since February 2009, when "restoring" confidence in the economy was all the rage... and just before the Fed announced the full blown QE1 in March of 2009. Odd symmetry.
So putting it all together, what does this mean for the true state of the US economy? Recall back in September one of our Charts of the Day was the number of Unemployed and Underemployed for the month of August, which was 25.8 million. Readers may be surprised to learn that when putting it all together, in September this number increased to 26.2 million.
I believe you’ll also find that the number of people dropping out of the workforce roughly equals the exploding number on the disability roles. Why do that pesky survey “Have you looked for a job this week” thing when you can just collect disability. The is a scandal.
“Sprained pinky? Disabled. Sign here.”
“Feeling tired? Disabled. Sign here.”
“Coughing? Disabled. Sign here.”
“depressed due to no job? Disabled. Sign here.”
When people drop out of the workforce, the unemployment rate goes down because they are no longer counted as they are no longer looking for a job. This leads to the question: Does the fact that Obama no longer requires work for welfare affect the unemployment rate? Just a thought...
What I cannot understand is when good economic numbers occur it is assumed it is caused by actions taken by DumBO and not a future indicator without ZerO in charge.
Did I miss that September is seasonally adjusted with students going back to school?
These numbers are ALL from the GOVERNMENT.
who in their right mind trusts government to get ANYTHING right in the first place ? (only democrats do). Real unemployment I can guarantee you is over 20% ( and we've been debating their government numbers of 8%). Less people are working than ever before as % of population so by that stat, unemployment is 40% as workforce participation is around 60%, 50% of college grads can't get jobs ..
And obviously this is faked by Obama’s dept of labor. to get this Obama elected
This is government lies
This is government fraud
this is criminal
Look at the government schools, government housing projects, government can't do anything right and we all trust that these numbers are correct .That is our first mistake to trust government and then 2nd mistake is to trust anything the media says.
From what I just read, U6 is still at 14.6%. So essentially there was no change to the total number, just a shift between U3 and U6.
Romney should wait until theOne starts crowing about this fantasy unemployment rate at the next debate. He should then promise, once elected, he will review the process by which the statistics are derived and ensure it is fact-based rather than a adjustable number. It’s to his benefit, if elected to state an accurate starting unemployment figure.
This is government fraud
These numbers are ALL from the GOVERNMENT.
who in their right mind trusts government to get ANYTHING right in the first place ?
This POS Obama is a criminal
This is all lies
Do you or any of you here trust ANY of these numbers ever?
What has government been able to do successfully , the gov schools, the gov housing projects, what? Nothing. It's pure incompetence and we all trust their numbers and have for years. of course these latest October surprise numbers are total, criminal fraud.
Why does any one trust government to do anything? I don't
Question:
Since the employer and household surveys are just that - Surveys, they are Polls....what is the BLS margin of error for these Unemployment Percentages?
This is government fraud
These numbers are ALL from the GOVERNMENT.
who in their right mind trusts government to get ANYTHING right in the first place ?
We’re debating previous months government numbers with new government numbers, which are all BS anyway.
Anyone that trusts government is not living in reality but in a media created reality.
I work for lawyers, gathering documents and signatures (and notarizations)from clients at their homes. The last few months, there has been a total explosion in people contacting lawyers seeking SSI benefits, like by a factor of 5. Not sure what it all means.
“Romney should wait until theOne starts crowing about this fantasy unemployment rate at the next debate. He should then promise, once elected, he will review the process by which the statistics are derived ...”
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Excellent thought. I hope they pick it up.
I have come to pay a lot more attention to the Gallup unemployment numbers than those from the BLS: http://www.gallup.com/tag/Unemployment.aspx
>> The is a scandal.
The entire month of October should be devoted to discussing the lost labor, the diminished levels of employment, the diminished GDP.
And the scandal of how the Obama administration is fraudulently pushing people onto the disability rolls.
On another note, it is maddening to see so many of all political stripes (obviously Dems more than others ATM because their boy is in office) ignore the tremendous fall in the workforce participation level. In theory, due to the bogus methodology of the U-3 metrics, you could have 90% plus NOT working, but a LOW UE headline %. GRRRRRR
All he has to do is say, "The Romney Administration will use U6 -- remarkably unchanged at 14.7% -- as the official rate. The time for lying to ourselves as a country is over."
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