Skip to comments.MEDIA AGAIN HUMILIATED AFTER HYPING UNRELIABLE ADP JOBS NUMBERS
Posted on 01/10/2014 1:04:27 PM PST by Jim Robinson
More terrible economic news hit the struggling American people today when the Bureau of Labor Statistics announced that only 74,000 jobs were created in December, the fewest number in five years. The unemployment rate dropped from 7% to 6.7%, but that is due only to the disheartening fact that 525,000 of the unemployed stopped looking for work. As a result, the labor force participation rate dropped to its lowest point since 1978.
Still, President Obama enjoyed a week of celebratory news about job creation thanks to our objective, unbiased, not-at-all liberal media once again hyping the notoriously unreliable jobs report from ADP. The result of this, naturally, is to give Obama a couple of good news cycles, but to do so based on numbers the media know are frequently wrong and just as frequently overstate the number of jobs created.
Today's BLS jobs report -- the real jobs report -- is unqualified in its awfulness. And yet, these are the headlines Obama enjoyed this week thanks to a media irresponsibly using ADP. We'll start with Business Insider, an outlet as devoted to the super wealthy as they are to an oppressive federal government:
Business Insider: PRIVATE SECTOR JOBS SURGE BY 238,000 IN DECEMBER
CNN: Strong job gains at end of 2013
NBC News: Jobs report could show things are looking up
Bloomberg: Companies in U.S. Added 238,000 Jobs in
December, ADP Says Wall Street Journal: U.S. Private-Sector Adds More Jobs Than Expected
BusinessWeek: Companies in U.S. Added 238,000 Jobs in December, ADP Says
(Excerpt) Read more at breitbart.com ...
RE: MEDIA AGAIN HUMILIATED AFTER HYPING UNRELIABLE ADP JOBS NUMBERS
OK somebody explain to me why the BLS numbers are more reliable...
I hate this “stopped looking for work” nonsense. How are these numbers being collected? Are they real scientific polls that ask working age adults if they are employed and if not, do they want to be?
Yippee! So we don’t need to extend unemployment bennies afterall.
Actually, people are being abducted by aliens. That is why there are fewer available workers so the unemployment rate is unbelievably low.
that, or somebody dealt made a Gault’s Gulch.
How can these job numbers mean anything when every week there are more than 300,000 newly filed claims for unemployment?
If the Pubbies had a spine - they would agree to an extension of unemployment benefits only if these people were counted in the official unemployment rate - driving the rate to the real number that the American people can see.
It seems to me, to be humiliated, you would have had to have some self-respect to begin with.
I hate this stopped looking for work nonsense. How are these numbers being collected?
It is a euphemism for getting the last unimployment check. Being eligible for unemployment checks means “looking for work,” and pressing 1 on the phone number to the unemployment office bi-weekly for as many weeks as the state provides the checks. After that, one has ‘stopped looking.’
Nope. You can be ineligible for unemployment compensation (self-employed, working for a non-profit, etc.), be “looking for work,” and be counted as unemployed for the purpose of calculating the unemployment rate.
T W tv cable news stations are broadcasting this lie:
“Lowest unemployment numbers in 35 years.”
viz “The seasonally adjusted unemployment rate rose from 4.3% in January 2001, peaking at 6.3% in June 2003 and reaching a trough of 4.4% in March 2007. After an economic slowdown, the rate rose again to 6.1% in August 2008 and up to 7.2% in December 2008” wiki
The jobs created number comes from a survey of employers, and the. The figures are manipulated. The percentage working comes from a survey of households. That is part of the reason that the two numbers can sometimes conflict.
NO. We need to extend unemployment bennies because it's not Opposites Day.
If you were REAL SMART like the President, you would understand, but you're not. You're just a simple peasant who can't read a Teleprompter.
No way they didn’t know the real numbers ahead of time. They’re only kept from us people ‘til the first Friday of the month.
So, they pumped up numbers early on because they know that bad news gets dumped on Friday’s because the news is less listened to on Friday. And there’ll be absolutely no one to answer to. They’ll just say: We made a mistake. That will be the end of it.
RE: “How can these job numbers mean anything when every week there are more than 300,000 newly filed claims for unemployment?”
That’s because new jobs are always being created each week.
Even during the worst months of the Great Recession, at least 100,000 “new” jobs were being created each week.