Skip to comments.5 cautionary signs in Aprilís US jobs report
Posted on 05/03/2014 2:44:39 PM PDT by Olog-hai
At first glance, Fridays U.S. jobs report suggested that the agonizingly slow 5-year-old economic recovery had burst into a full sprint. Yet several cautionary signs emerged from the report, starting with that spectacular plunge in the unemployment rate.
Heres why: The government uses two surveys for the jobs report. The job gain comes from a survey of businesses, the unemployment rate from a survey of households. Sometimes, the two conflict. The survey of businesses showed 288,000 more jobs. Yet the household survey, in calculating unemployment, found that 73,000 fewer people had jobs.
Why did the unemployment rate sink? Because 806,000 fewer people were in the workforce. Many retired or ended their job hunts. And fewer-than-expected people began looking for work. The unemployment rate typically drops when fewer people seek work: If theyre not hunting for a job, theyre not counted as unemployed. All of which points to an underlying weakness in an otherwise improving job market.
(Excerpt) Read more at hosted.ap.org ...
In other words, they be lying.
Americans need to focus on bringing back American jobs.
We have been sending so many American jobs overseas now, for so long now, that nobody is focusing on Americans.
That must stop. China now makes more stuff, than Americans do.
Go in any store. In any city. Any state. Pick up anything, and take a look at where it was made:
A staggering number for one month, and that's on top of the already 92 MILLION that have already dropped out.
Reminder: Boehner and his excellency Hussein think we need to invite more mexicans in to augment our workforce!
93 million not participating in the workplace, many millions more on long term unemployment benefits, disability, EBT cards, rent & heat assistance, part-time only workers — the numbers working full-time and not on government benefits [the producers], are outnumbered by the moochers. Obama’s America.
“Why did the unemployment rate sink? Because 806,000 fewer people were in the workforce.”
Unemployment Drops to 0% as Last Worker Leaves Labor Force
The People’s Cube ^ | May 3, 2014 | Opiate of the People Posted by 4Liberty
Comrade Barack Obama today became the first to achieve a milestone coveted by enlightened central planners everywhere when the Bureau of Laborious Statistics announced the much-followed totally-meaningless “headline” U3 unemployment rate for last month was ZERO PERCENT! This means that the glorious economic recovery he engineered after the disastrous Bush years has now attained FULL EMPLOYMENT!
It is a tribute to Professor Obama that he was able to find the Holy Grail which eluded history’s greatest economic thinkers such as Lenin, Stalin and Mao. This landmark achievement along with his establishment of free healthcare for everyone via the Affordable Care Act cements his reputation as the Greatest Leader in this or any other universe for all time.
The dramatic moment occurred at 12:03 PM, four weeks to the day after Lyman Yilk, a pipe-fitter from Bittcling, Pa, finally gave up looking for work. Mr. Yilk has been unemployed since 2005 but was on a celebratory bender since the day after Mr. Obama’s first election and did not know that the Keystone Pipeline (which Mr. Yilk was hoping to find work on) had been cancelled due to environmental concerns. When he finally sobered up four weeks ago and learned the project was dead, he abandoned his search to find a job.
Mr. Yilk was the last worker to leave the labor force and turned the lights out as he left. According to the BLS definition:
Quote: U3: Official unemployment rate per the ILO definition occurs when people are without jobs and they have actively looked for work within the past four weeks. Without Mr. Yilk, there was no one actively looking for work any longer, hence the U3 rate was now ZERO PERCENT, praise Obama!
Gloom-and-doom naysayers were quick to note that the labor force participation rate had also dropped to zero percent which (according to them) was not a good thing as it meant no one was employed. Comrade Nancy Pelosi countered their racist, straw-man argument brilliantly by observing that it also meant no comrade was any longer “job-locked” and each was free to be an artist, writer, hooker, etc, and pursue their passion.
“There is no underestimating this tremendous achievement of Barack Obama” said Paul Klugeman, an expert on hiding declines and fudging economic statistics as well being the self-proclaimed “Conscious Liberal”. “Comrade Obama has achieved the socialist dream of freeing all of The People from the slavery of work and permitting them to live off of someone else’s dime as god, if he existed, would’ve wanted.”
Dr. Klugeman was asked if a problem would arise due to the fact that since no one was working, there would also be no one to pay for the benefits that all the non-workers were collecting.
“Nonsense”, he proclaimed. “The Fed will simply print money for artists and writers and hookers to use to buy things from China! What could go wrong?”
It seems so simple now, it’s a wonder no one ever thought of it sooner.
“The genius of Dear Leader Barack Obama lies in his simplicity”, said Dr. Klugeman.
Full sprint with a 1st qtr 0.2 GDP?