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  • Labor Day, the Day to Honor the Bureau of Labor Statistics!

    09/07/2015 9:15:08 AM PDT · by expat_panama · 28 replies
    Weekly investment & finance thread | Sep 7, 2015 | Freeper Investors
    Labor Day, the Day to Honor the Bureau of Labor Statistics! ---especially their wonderful Headline Unemployment Rate!I mean, ain't Democrats great when it comes to jobs?† Like the record in this case really speaks for itself the way first Clinton saves us from the horrible Reagan/Bush Era-of-Greed w/ its way over average unemployment and lowered it by 3 (count 'em) points!† Sadly, even though Gore was elected Bush junior got selected and he promptly soared unemployment up four agonizing points until His Holiness descended to earth and lowered it back down.† Facts are facts and it's all there in the...
  • Compare current president and past presidents using federal government economic data.

    03/08/2015 9:27:20 PM PDT · by WilliamofCarmichael · 20 replies
    Federal government agencies ^ | Marrch 8, 2015 | WilliamofCarmichael
    The table that I assembled is in response to vague references that we see and hear like "the BLS said", "the WSJ said", "radio/TV/Blog/column said" . . . the table has links directly to the original data. It's too large to post repeatedly on threads though I do hope to keep it current quarterly (with annualized data) until Election 2016. And change/add columns as needed.
  • Record 93,626,000 Americans Not in Labor Force; Participation Rate Declines to 62.6%

    07/03/2015 5:50:41 AM PDT · by TurboZamboni · 21 replies
    CNS ^ | 7-2-15 | Ali Meyer - A record 93,626,000 Americans 16 or older did not participate in the nationís labor force in June, as the labor force participation rate dropped to 62.6 percent, a 38-year low, according to the Bureau of Labor Statistics. In June, according to BLS, the nationís civilian noninstitutional population, consisting of all people 16 or older who were not in the military or an institution, hit 250,663,000. Of those, 157,037,000 participated in the labor force by either holding a job or actively seeking one. The 157,037,000 who participated in the labor force equaled only 62.6 percent of the 250,663,000 civilian...
  • Payroll Stats Become Even More Implausible: The Job Numbers Literally Do Not Add Up

    06/05/2015 1:23:53 PM PDT · by SeekAndFind · 18 replies
    Alhambra Investment Partners ^ | 06/05/2015 | Jeff Snider
    Payroll Stats Become Even More ImplausibleSince Q1 GDP was revised lower by almost 1% that meant estimates of productivity were going to be even more out of alignment than they were at the first release. Of course, in a less massaged environment productivity might have preserved some sense if there was less rigidity from the BLS on the employment side. In other words, when ďoutputĒ estimates were reduced (and they were, by more than GDP) it would make sense that everything would be revised downward in a more cohesive process. Instead, output was reduced significantly, by 1.4%, while total hours...
  • Steve Wynn: Economic recovery Ďpure fictioní

    05/06/2015 9:08:05 AM PDT · by Red Badger · 7 replies
    WND - FWIW ^ | 05-06-2015 | Leo Hohmann
    One of Americaís most astute businessmen, known for having expanded the Las Vegas strip of resort hotels and casinos in the 1990s, says the U.S. remains mired in an economic funk and any talk of a broad recovery is ďpure fiction. A lie.Ē Steve Wynn, the 73-year-old founder and CEO of Wynn Resorts, made the comments in a televised interview with Jon Ralston of PBSí ďRalston Live.Ē He opened the Wynn Hotel and casino in Macao, China, in 2006, and is known as an international gaming and casino magnate. Wynnís Macao operation recently reported a 28 percent quarterly loss in...
  • Unemployment Lower, Not Working At Record High

    03/07/2015 7:02:02 AM PST · by TurboZamboni · 15 replies
    WIBW ^ | 3-6-15 | CNNMoney/WIBW
    NEW YORK (CNNMoney/WIBW) -- There is good news, but there are still serious concerns because only 123,000 of those jobs were full time. Analysis will be found at the bottom of the story and in attached government reports. Officials claim that the U.S. economy added 295,000 jobs in February, which crushed expectations. That beat the estimate from CNNMoney's survey of economists, who predicted 235,000 job gains.
  • After 2 historic months of jobs growth, Illinois still lagging

    02/05/2015 8:17:17 PM PST · by george76 · 8 replies
    Illinois Policy ^ | February 3 2015 | Michael Lucci
    Illinois still lays claim to the worst recession recovery in the nation. According to the BLS household survey, there are still 216,000 fewer Illinoisans working than when the Great Recession began, the worst of any state and one of only 22 states that still have fewer people working than when the recession started. .... The business-establishment survey for the 2008-2014 period shows 114,000 fewer payroll jobs in Illinois than when the recession began, the second-worst record of any state, and one of only 15 states yet to break even on the recession. Only New Jersey is down more payroll jobs....
  • Record 92,898,000 Americans Not In The Workforce

    01/10/2015 9:02:10 AM PST · by BenLurkin · 58 replies ^ | January 9, 2015
    A record 92,898,000 Americans 16 years and older did not participate in the labor force last month, according to data released by the Bureau of Labor Statistics. The BLS defines people not in the work force as people 16 years and up who are not employed and havenít ďmade specific efforts to find employment sometime during the 4-week period ending with the reference week.Ē The labor force participation rate ó or the ďThe labor force as a percent of the civilian noninstitutional populationĒ ó also dipped back down to 62.7 percent, from 62.9 percent in November.
  • Something Stinks Inside The BLS Jobs Data

    12/07/2014 3:42:58 PM PST · by SeekAndFind · 12 replies
    Alhambra Investment Partners via Zero Hedge ^ | 12/07/2014 | Jeffrey Snider, via Alhambra Investment Partners,
    Submitted by Jeffrey Snider, via Alhambra Investment Partners,The juxtaposition could not be more fitting with all that is transpiring at this moment in economic history. On Monday, the headlines were filled with, Black Friday Fizzles as Sales Tumble 11% and ‚ÄėBlack Friday‚Äô Fades as Weekend Retail Sinks 11%. Then the ‚Äúemployment‚ÄĚ report comes out and now the headlines are, More Jobs and Higher Wages: U.S. Recovery Starts to Hit Home and Hiring Surge Gives U.S. Expansion a Lift Into 2015. The problem is one of mutual exclusivity as both narratives are totally inconsistent with each other even when factoring...
  • Giving up: 40% women, 28% men, 39% youth don't want a job

    11/14/2014 7:28:35 AM PST · by george76 · 56 replies
    Washington Examiner ^ | November 14, 2014 | Paul Bedard
    Nearly four in 10 Americans, or 92 million, are not in the labor force and now thereís a reason why: They have simply given up and donít want to work. According to the Bureau of Labor Statistics, the largest group of people not in the labor force are those who donít want a job, a remarkable statement on the nationís work ethic. The federal job counter said that 85.9 million adults last month didnít want a job, or 93 percent of all adults not in the labor force. ... Pew said that 39 percent of 16- to 24-year-olds donít want...
  • John Williams' Take On The October Unemployment Report: "The Economy Remains In Terrible Shape"

    11/10/2014 10:17:45 AM PST · by blam · 5 replies
    Zero Hedge - Shadow Stats ^ | 11-10-2014 | Tyler Durden - John Williams
    Tyler Durden 11/10/2014 When it comes to inflation data, there are two parallel sources: the BLS, and ShadowStats' John Williams, who continues to plough through the underlying "data" using pre-pre-pre-revision protocols, and every month reveals a parallel universe in which something shocking is revealed: the truth. Here is his take on the October "weaker but really stronger than expected" jobs numbers. Here is what really happened. From ShadowStats Never Recovered, the Economy Remains in Terrible Shape. The large number of opening headlines in todayís (November 9th) missive reflects various stories, ranging from twisted unemployment data, to an election dominated by...
  • Denver Census staffer brings data falsification to light

    10/07/2014 9:14:23 PM PDT · by george76 · 9 replies
    NYP ^ | October 6, 2014 | John Crudele
    A field supervisor in the Census Bureauís Denver region has informed her organizationís higher-ups, the head of the Commerce Department and congressional investigators that she believes economic data collected by her office is being falsified. And this whistleblower ó who asked that I not identify her ó said her bosses in Denver ignored her warnings even after she provided details of wrongdoing by three different survey takers. The three continued to collect data even after she reported them. ... Census is broken up into six regions. Cheating has already been proven in the Philadelphia region. And with this whistleblowerís letter,...
  • Obama Signs Executive Order To Legalize BLMís Land Grabs

    05/25/2014 6:07:54 AM PDT · by ilovesarah2012 · 48 replies ^ | April 30, 2014 | Robert Rich
    In yet another turn of events indicative of Obamaís tactics, the Commander-in-Chief has stooped to issuing yet another Executive Order in order to bypass Congress. The order, as so many before it, was in no way a change to the executive branch as it ultimately legalized the BLMís authority to snatch private land. A press release recently disclosed by U.S. Congressman Rob Bishop shows that he was able to find 14 missing pages from an internal Department of Interior (DOI) that had miraculously disappeared. Those pages revealed the slithering snake that Obama truly is and the lows heís willing to...
  • Report: More Than 92 Million Americans Remain Out Of Labor Force

    05/03/2014 1:23:57 PM PDT · by george76 · 27 replies
    CBS DC ^ | May 2, 2014
    Despite the unemployment rate plummeting, more than 92 million Americans remain out of the labor force. The unemployment rate dropped to 6.3 percent in April from 6.7 percent in March, the lowest it has been since September 2008 when it was 6.1 percent. The sharp drop, though, occurred because the number of people working or seeking work fell. The Bureau of Labor Statistics does not count people not looking for a job as unemployed. The bureau noted that the civilian labor force dropped by 806,000 last month, ... The amount (not seasonally adjusted) of Americans not in the labor force...
  • Fracking foes cringe as unions back drilling boom

    04/20/2014 10:24:03 AM PDT · by mdittmar · 15 replies
    yahoo ^ | 4/20/2014 | Kevin Begos, Associated Press
    Environmental groups cringe as some trade unions support oil and gas drilling, pipelines PITTSBURGH (AP) -- After early complaints that out-of-state firms got the most jobs, some local construction trade workers and union members in Pennsylvania, Ohio and West Virginia say they're now benefiting in a big way from the Marcellus and Utica Shale oil and gas boom.That vocal support from blue-collar workers complicates efforts by environmentalists to limit the drilling process known as fracking."The shale became a lifesaver and a lifeline for a lot of working families," said Dennis Martire, the mid-Atlantic regional manager for the Laborers' International Union,...
  • The dirty little secret behind today's employment report

    04/04/2014 9:23:57 AM PDT · by cutty · 12 replies
    Yahoo ^ | APRIL 4, 2014 | Jeff Macke
    There's a dirty little secret buried in the monthly employment data. It's a secret so dark, so exquisitely threatening to the financial media industry that those who reveal it risk being expunged from the community like magicians revealing their tricks. The National Bureau of Labor Statistics reported that 192,000 jobs were added to the economy in March. The unemployment rate stayed flat at 6.7%. The participation rate rose to 63.2%. Now the dirty secret: none of that actually matters very much. 1.The number itself is simply impossible to measure with any accuracy ... 2.The unemployment rate is irrelevant. ... 3.No...
  • BLS jobs data will be heavy on the BS

    04/04/2014 8:01:00 AM PDT · by SeekAndFind · 8 replies
    New York Post ^ | 04/04/2014 | John Crudele
    Itís time for the Bureau of Labor Statistics to own up to the fact that the nationís unemployment statistics have been compromised. Fridayís jobs report should come with a big asterisk detailing all the investigations the BLS knows about. Maybe the BLS thinks it canít afford to be that honest. But I say it canít afford not to be ó if it wants to maintain the long-term integrity of all its statistics. Iíve been telling you for months about the investigations being conducted by the Inspector General at the Census Bureau concerning the falsification of unemployment and inflation data. Probes...
  • Price of Ground Beef Climbs to Another Record High

    03/18/2014 8:47:09 PM PDT · by Olog-hai · 46 replies
    Cybercast News Service ^ | March 18, 2014 - 2:49 PM | Ali Meyer
    The seasonally adjusted price index for uncooked ground beef jumped 3.8 percent from January to February, as the average price for a pound of 100-percent ground chuck rose from approximately $3.59 in January to a new record high of $3.73 in February, according to data released today by the Bureau of Labor Statistics. The BLSís seasonally adjusted price index measures the relative change in the price of product from a baseline of 100. From January to February, the price index for uncooked ground beef rose from 248.864 to 258.323, its highest level ever. The 258.323 price index also indicates that...
  • A Labor of Love: This House of EBT Cards

    02/07/2014 8:42:29 AM PST · by xuberalles · 9 replies
    Self | 2/7/14 | Self
    The economy added a paltry 113,000 jobs last month, well below the estimated 185,000; also a historically paltry number. Yet, right on cue, the unemployment rate magically dropped from 6.7% to 6.6%. Once again, the Bureau of Labor Statistics has dumped thousands from the workforce Ė roughly 10 million since 2008 Ė in order to concoct such laughable numbers. These are federal workers, paid by struggling taxpayers, who canít even give the public an honest answer. How do they know all of these people dropped out of the workforce? Did they ask each one? Are there enough quality jobs for...
  • Initial Jobless Claims Rise to 368,000, Bucking Latest Trends

    12/12/2013 6:55:56 AM PST · by SeekAndFind · 33 replies
    The Street ^ | 12/12/2013 | BY Keris Alison Lahiff
    Recent jobs data has demonstrated the labor market's resilient return to strength, but the latest initial jobless claims numbers released Thursday paint a different story. Seasonally adjusted initial jobless claims increased 68,000 to 368,000 for the week ended Dec. 7, 22% higher than a revised figure released a week earlier. The four-week moving average jumped 6,000 to 328,750. The increase in new claims for government unemployment benefits has negated recent declines and is higher than expected. According to analysts surveyed by Thomson Reuters, new claims were forecast to rise a modest 20,000 to 320,000 over the week.
  • Get ready for lies and Labor Department statistics

    12/03/2013 4:58:47 AM PST · by SeekAndFind · 8 replies
    New York Post ^ | 12/03/2013 | John Crudelle
    The Labor Department will release its latest unemployment data this Friday. But it wonít put a note in the news release saying that its jobless figures might have been fabricated. So Iíll write the note for the department, which is, understandably, shy about the whole matter. Warning: The unemployment numbers you see in this press release may have been fabricated. In fact, the jobless rate that seems so important to the Federal Reserve, economists, businesses and so many others might have been a joke for years. Use these numbers at your own risk.
  • The Other Reason The Fed Is Terrified Of A Government Shut Down

    09/24/2013 9:24:35 PM PDT · by SatinDoll · 10 replies
    The Zero Hedge ^ | 9/24/2013 | Tyler Durden
    While some have argued that the Fed is flying blind, given their endless efforts to convince the market that their actions (or inactions) are now all data-dependent - what happens when that data simply does not exist? As SMRA notes, the official word from the BLS [Bureau of Labor Statistics] is that they are working under the assumption that there will not be a government shutdown and the employment data will be released as scheduled; but what happens if the un-negotiation reaches beyond October 1st? How will our central-planners know what to do? Via Ray Stone of Stone McCarthy, The...
  • August 2013 NFP: NFP + 169K, Exp. 180K

    09/06/2013 5:30:46 AM PDT · by Perdogg · 22 replies
    Zero Hedge Twitter ^ | Sept 6 2013 | Tyler Durden
    NFP + 169K, Exp. 180K‚ÄĒ zerohedge (@zerohedge) September 6, 2013
  • The Lie Must Go On: BLS "Catches" BLS At Misrepresenting 2013 Job Gains By Over 40%

    08/06/2013 8:45:06 AM PDT · by Perdogg · 12 replies
    Zero Hedge ^ | Submitted by Tyler Durden on 08/06/2013 10:50 -0400
    Many were surprised when last month we exposed the divergent lies at the Bureau of Labor Statistics when comparing two otherwise convergent data sets: the monthly all-important Non-Farm Payroll report and the (one month-delayed) JOLTS survey. Specifically, what we showed is that the Net Turnover from JOLTS (Hires less Separations) is now 40% below the trendline of cumulative job additions implied by the Non-Farm Payroll report's Establishment survey which has become the holy grail for both the stock market and the Federal Reserve's tapering ambitions. Following the release of the June JOLTS update, we can report that the divergence within...
  • Obama Solves Mass-Layoff Problem by Laying Off Mass-Layoff Statistics Guys at BLS

    06/22/2013 3:47:34 AM PDT · by Kaslin · 18 replies ^ | June 22, 2013 | John Ransom
    The ďHelp WantedĒ sign is out again in America. But itís not what you think. A report from the newswire Reuters says that massive hiring is in effect for Obamacare with state and federal agencies hiring both directly and issuing grants to community organizations to act as kind of insurance agents, signing up as many people to Obamacare as possible under the law. ďState offices that will run insurance exchanges are hiring tens of thousands,Ē reports Reuters, ďeither on staff or through outsourcing firms. Federal agencies that are key to implementing the law, such as the Internal Revenue Service, plan...
  • Fire the BLSís Unemployment Rate: We need a metric that reflects population growth and job creation

    05/21/2013 8:45:25 AM PDT · by SeekAndFind · 7 replies
    National Review ^ | 05/21/2013 | By Andrew Puzder , Michael Talent
    Each month, the Bureau of Labor Statistics releases its latest news on the job market. The agency breaks down the jobs data six different ways and calculates six different unemployment rates. But all this data does little to answer clearly the one key question: Is it easier to get a job now than it was before? If you just looked at Aprilís official unemployment rate of 7.5 percent, you could easily conclude that the employment situation is at least better than it was when unemployment peaked at 10 percent in October 2009. Yet, as millions of Americans know, jobs are...
  • Adjusted Recovery: Non-Farm Payrolls Leap +165k, Helped By BLS Birth/Death Adjustment Of +193k

    05/03/2013 1:27:47 PM PDT · by whitedog57 · 2 replies
    Confounded Interest ^ | 05/03/2013 | Anthony B. Sanders
    Good News! Non-farm payrolls increase by 165,000 and the unemployment rate declined to 7.5%. Bad News! It had to be helped by a 193,000 increase due to the BLS Birth/Death adjustment. May 3 (Bloomberg) ó Employment picked up more than forecast in April and the jobless rate unexpectedly declined to a four-year low of 7.5 percent, showing federal budget cuts failed to destabilize the U.S. labor market. Payrolls expanded by 165,000 workers last month following a revised 138,000 increase in March that was larger than first estimated. The median forecast of 90 economists projected a 140,000 gain. Revisions added a...
  • BLS Releases Another Phony 'Green Jobs' Report

    03/21/2013 4:47:21 PM PDT · by raptor22 · 12 replies
    Investor's Business Daily ^ | March 21, 2013 | IBD EDITORIALS
    Bad Data: As yet another Solyndra looms, a new government report shows that by the government's own broad definition of a green job, more can be found in a coal mine than near a solar panel. The second annual Bureau of Labor Statistics (BLS) report on "Employment in Green Goods and Services," released Tuesday, will be the last, allegedly a casualty of the same sequestration that claimed the White House tours and may doom the Easter egg hunt on the White House lawn. That is probably a good thing, for if it were published as a book, it would deserve...
  • Shocking Numbers That Show The Media Is Lying To You About Unemployment In America

    02/01/2013 8:47:44 PM PST · by blam · 78 replies
    TEC ^ | 2-1-2013 | Michael Snyder
    Shocking Numbers That Show The Media Is Lying To You About Unemployment In America By Michael snyder February 1st, 2013 Did you know that the percentage of the U.S. labor force that is employed has continually been falling since 2006 according to the Bureau of Labor Statistics? Did you know that the increase in the number of Americans "not in the labor force" during Barack Obama's first four years in the White House was more than three times greater than the increase in the number of Americans "not in the labor force" during the entire decade of the 1980s? The...
  • Here's the real unemployment rate

    01/15/2013 2:03:13 AM PST · by Brown Deer · 25 replies
    WND ^ | 1/14/2013 | Jerome R. Corsi
    Government's 'headline' statistics hide true conditionsThe real unemployment rate for December 2012 is closer to 23 percent, not the 7.8 percent reported by the Bureau of Labor Statistics, according to economist John Williams. Here is a more complete unemployment table that includes the seasonally adjusted unemployment percentages for U3 unemployment, as well as the same for U6 unemployment, followed by the ShadowStats Alternative Unemployment rate for both December 2011 and December 2012:
  • Why Reported Inflation Seems Different Than Reality

    12/23/2012 10:30:36 AM PST · by arthurus · 43 replies
    Zero Hedge ^ | 20 December 2012 | Tyler Durden
    But the manipulation of the data did not stop there. Aside from the weighting changes the BLS instituted a system of ďhedonicĒ adjustments. Hedonics adjusts the prices of goods for the increased pleasure the consumer derives from them. ďThat new washing machine you bought did not cost you 20% more than it would have cost you last year, because you got an offsetting 20% increase in the pleasure you derive from pushing its new electronic control buttons instead of turning that old noisy dial, according to the BLS. When gasoline rises 10 cents per gallon because of a federally mandated...
  • 73% of New Jobs Created in Last 5 Months Are in Government [Analysis To Share w/your Obama friends]

    12/07/2012 9:55:10 AM PST · by SoFloFreeper · 12 replies
    cns news ^ | 12/7/12 | Terence P. Jeffrey
    Seventy-three percent of the new civilian jobs created in the United States over the last five months are in government, according to official data published by the Bureau of Labor Statistics. In June, a total of 142,415,000 people were employed in the U.S, according to the BLS, including 19,938,000 who were employed by federal, state and local governments.
  • U.S. Shed 9,000 Mining, Energy Jobs in October, 17,000 Since May

    11/04/2012 4:42:41 AM PST · by george76 · 6 replies
    Heritage ^ | November 2, 2012 | Lachlan Markay
    Buried in Fridayís Bureau of Labor Statistics report on the countryís unemployment situation was this disheartening fact: 9,000 employees of the mining and resource extraction sector lost their jobs in October. That brings total job losses in that sector to 17,000 since May, according to BLS.
  • Putting Today's Job Number In "Seasonally Adjusted" Context (Read before you read the Gov't release)

    11/02/2012 6:05:47 AM PDT · by Zakeet · 2 replies
    Zero Hedge ^ | November 2, 2012
    Today's jobs number is expected to come at 125,000, with a high estimate of 154,000 from John Hancock financial, and a low of 30,000 from Westpac Banking, and with a whisper expectation at 150,000 courtesy of yesterday's "stronger than expected" ADP re-revised print. A beat or miss at over 1 standard deviation will promptly wake the HFT algos from their deep slumber. Wait did we say miss? Hah. Anyway, just to put today's seasonally adjusted expected monthly job growth in context, below is a chart showing the average seasonal adjustment for each month of the year in the past decade....
  • ADP Changes Methodology of Job-Counting; One Analyst Thinks The Change Suggests That Friday's.

    10/31/2012 12:49:01 PM PDT · by Perdogg · 12 replies
    Assuming the BLS even releases data on Friday, which they're still hedging about. ADP is a big payroll-service firm which releases its own assessment of job growth (or job losses), based partly on its own data. Their new methodology occasioned a revision to their already-reported September figures. ADP's new calculations put the monthly job creation [in September] at just 88,200, down from the 162,000 the firm originally reported earlier this month. ... The soft ADP count could add credence to those who believe the pace of job creation is slower than the government's numbers indicate. "It's huge, no doubt about...
  • Believe it Ė Employment Numbers Were Ginned

    10/15/2012 4:15:44 AM PDT · by Kaslin · 24 replies ^ | October 15, 2012 | Bruce Bialosky
    A couple weeks ago, this column analyzed the inflation rate reported by the Bureau of Labor Statistics (BLS), and concluded that you should rely on your common sense when the government reports questionable statistics. If they donít make sense based on what you see, experience, and hear from your friends, then theyíre probably wrong. Last weekís unemployment number Ė which decreased to a still-dismal 7.8% Ė should not only make no sense to you, but should have never made sense to the BLS and therefore should never have been issued. So am I just popping off or is there a...
  • We've Gotten To The Bottom Of The Mysterious Jobless Claims Report!

    10/11/2012 10:40:32 AM PDT · by blam · 13 replies
    We've Gotten To The Bottom Of The Mysterious Jobless Claims Report! Henry BlodgetOct. 11, 2012, 12:29 PM RealtyTrac After this morning's surprisingly positive jobless claims number was released, three things happened: 1.Lots of people felt better about the economy 2.Democrats cheered because they thought the number would help Obama 3.Republicans seized on confusing reports that the numbers had "excluded claims from one large state" (probably California) and blasted the number as wrong and misleading. Since then, the argument has raged on, and there have been a variety of different reports and interpretations. Well, we're glad to say that we've finally...
  • It's a Miracle! Initial Jobless Claims Rise to 327k [NSA], But Miraculously Fall to 339k [SA]

    10/11/2012 10:12:42 AM PDT · by whitedog57 · 2 replies
    Confounded Interest ^ | 10/11/2012 | Snakeeyes Econ
    The Bureau of Labor Statistics have another election present for President Obama: initial jobless claims dropped to their lowest point since 2008. Initial jobless claims fell to 339k and an upwardly revised (of course) figure of 369k from the previous week. This nosedive in initial jobless claims is consistent with the BLSí ďHail Mary!Ē jobs report released last week where 873k jobs appeared as if President Obama prayed at Lourdes for a miracle. On the other hand, initial jobless claims ROSE by 26k to 327k on a non-seasonally adjusted (NSA) basis. It appears that consumers arenít buying it. The Bloomberg...
  • Last week's jobs report...Oops "one large state didn't report some quarterly figures."

    10/11/2012 7:52:56 AM PDT · by Beave Meister · 10 replies ^ | 10/11/2012 | Tyler Durden
    This is just getting stupid. After expectations of a rebound in initial claims from 367K last week (naturally revised higher to 369K), to 370K (with the lowest of all sellside expectations at 355K), the past week mysteriously, yet so very unsurprisingly in the aftermath of the fudged BLS unemployment number, saw claims tumble to a number that is so ridiculous not even CNBC's Steve Liesman bothered defending it, or 339K. Ironically, not even the Labor Department is defending it: it said that "one large state didn't report some quarterly figures." Great, but what was reported was a headline grabbing number...
  • New BLS Data Add to Bad Labor Market Story

    10/11/2012 6:43:45 AM PDT · by SeekAndFind · 6 replies
    RCM ^ | 10/11/2012 | Katie Furtick & Anthony Randazzo
    New employment data released Wednesday threw yet another grenade into the explosive controversy following last week's report on September unemployment numbers. The Job Openings and Labor Turnover Survey (or JOLTS) showed that since December 2007 there has been a net loss of 4.67 million jobs. But as scary as that number is, it does not tell us much on its own, any more than single data points like 7.8 percent (official unemployment), 14.7 percent (unemployment including workers who stopped looking for a job), or 114,000 (number of jobs created in September). To understand what these numbers mean and whether employment...
  • Scary: Obama Appointed the Jobs Number Cruncher; Scarier: Her Resume

    10/09/2012 12:33:43 PM PDT · by SeekAndFind · 39 replies
    Townhall ^ | 10/09/2012 | Charles Payne
    First, I'm a grandfather for the first time, and it's an amazing blessing. The country my granddaughter has come into is at a very dangerous point. The economy is teetering, but Main Street is being told it's all okay. What's problematic is the rapid decline in the last year. That unemployment rate number on Friday was a total farce, but even if it was completely honest, 7.8% is way too high for an economy that supposedly turned the corner a long time ago. The number doesn't jibe, with an economy growing at 1.3%. The only honest aspect of the report...
  • Wake Up Media, the BLS Has Been Fudging Its (Unemployment) Numbers for YEARS

    10/09/2012 5:18:11 AM PDT · by Zakeet · 10 replies
    Zero Hedge ^ | October 9, 2012 | Phoenix Capital Research
    Pop QuizÖHow does the US economy add 800K+ jobs during a month in which employment taxes and consumer spending FALL? Answer: magic! Or actually the BLS [Bureau of Labor Statistics] lied... again.Itís truly staggering to see this brazen a lie out in the public. Even by the BLSís standards (which has been massaging the hell out of its jobs data for years) this latest monthly employment number was a stretch. Of course, no one bothers explaining just how fraudulent the data was, because that would mean questioning the credibility of the BLS. Instead the whole issue becomes one of politics...
  • Part-Time Job Working on Yard Swells Employment- LOL

    10/08/2012 6:20:02 AM PDT · by Kaslin · 18 replies ^ | October 8, 2012 | Morgan Brittany
    I have had enough of being thought of as stupid.† Iím sick and tired of the media, the administration and the spin doctors putting statistics and information out that is so cock-eyed, it is laughable.† It has been going on for a long time but this week the unemployment numbers were so ridiculous I thought I was watching an SNL comedy routine. How in the world do they think that they can get away with something so ludicrous?† If they wanted to manipulate the numbers to make Obama look good, they should have at least lowered the number to 8%...
  • White House Manipulating the Jobs Data? Unpossible...

    10/07/2012 7:29:59 AM PDT · by Snuph · 24 replies
    Zerohedge ^ | 10/06/2012 | CrownThomas
    ABC is reporting that the White House has told defense contractors to not issue layoff notices until after the election. They even went as far as to offer to pay for any legal fees associated with not giving employees proper notice - pardon, you will pay for any legal fees associated with the administration keeping the unemployment rate artificially low. Two things: 1. Why aren't we hearing more about this from the mainstream media (rhetorical)? 2. Still think the jobs report yesterday was real?
  • On jobs numbers, BLS vows there's no conspiracy (The BLS is just plain BS!)

    10/06/2012 10:07:51 PM PDT · by tobyhill · 23 replies
    CBS ^ | 10/7/2012 | LUCY MADISON
    On the heels of a positive September jobs report, which showed a 0.3 percentage point drop in the national unemployment rate, prominent conservative Jack Welch and some others on the right are questioning the source of the numbers, suggesting on Twitter that the Obama team had in some way manipulated the data to their advantage. "Unbelievable jobs numbers..these Chicago guys will do anything..can't debate so change numbers," wrote Welch, the former chairman and CEO of General Electric, shortly after the September jobs report was released. Conservative radio host Laura Ingraham piled on in a Twitter message of her own: "Jobs...
  • Employment Report +114 [ less than working-age pop growth in survey- yet unemployment decreased! ]

    10/06/2012 8:26:24 PM PDT · by NoLibZone · 7 replies ^ | Oct 6 2012 |
    Look what we have here! The unemployment rate decreased to 7.8 percent in September, and total nonfarm payroll employment rose by 114,000, the U.S. Bureau of Labor Statistics reported today. Employment increased in health care and in transportation and warehousing but changed little in most other major industries. This is rather amusing; +114,000 is fewer than the working-age population growth in the household survey (206,000) and yet unemployment decreased. Huh? The household survey's unadjusted numbers, however, show some rather interesting figures, none of which make sense. "Not in labor force" increased by 386,000 while "employed" increased by 775,000 a net...
  • Another Phony Employment Report

    10/06/2012 2:49:01 PM PDT · by Abiotic · 8 replies
    Foreign Policy Journal ^ | 10-6-2012 | Paul Craig Roberts
    Fridayís employment report from the Bureau of Labor Statistics shows 114,000 new jobs in September and a drop in the rate of unemployment from 8.1% to 7.8%. As 114,000 new jobs are not sufficient to stay even with population growth, the drop in the unemployment rate is the result of not counting discouraged workers who are defined away as ďnot in the labor force.Ē According to the BLS, ďIn September, 2.5 million persons were marginally attached to the labor force.Ē These individuals ďwanted and were available for work,Ē but ďthey were not counted as unemployed because they had not searched...
  • Should the unemployment survey be updated? (Fix or Nix)

    10/06/2012 11:04:18 AM PDT · by SeekAndFind · 5 replies
    Hotair ^ | 10/06/2012 | Jazz Shaw
    Once upon a time --- back in the "good old days" when jobs were considerably more plentiful --- the monthly unemployment figures released by the Bureau of Labor Statistics (BLS) were barely noted by the majority of Americans. (Assuming, that is, that they were aware of them at all.) If unemployment is down around five percent and it goes up to 5.2 in July and down to 4.8 in October, nobody notices. As Ed Morrissey pointed out yesterday, such shifts can be accounted for by seasonal variations in labor demand, localized effects in particular industries or, as we probably saw...

    10/06/2012 7:21:45 AM PDT · by Snuph · 66 replies
    The Blaze ^ | October 6, 2012 | Jason Howerton
    In a heated debate with MSNBCís Chris Matthews, former General Electric CEO Jack Welch doubled-down on his claim that the Bureau of Labor Statistics survey released Friday, which showed a spike in employment and a drop in the unemployment metric from 8.1 percent to 7.8 percent, is bogus. Welch explained his rationale to the MSNBC host: ďWe had 600,000 government jobs added in the last two months. We had 873,00 jobs by a household survey ó which is a total estimate ó from 50,000 phone calls. Of those, 600,000 were temporary workers. Chris, these numbers are all a series of...
  • The Romney Jobs Bump

    10/05/2012 5:14:57 PM PDT · by Solson · 22 replies
    My pea brain | 10/5/2012 | Solson
    Indulge me for a quick moment....Looking at the jobs report today, we see the household survey showing a massive 583,000 jump in the number of part-time workers, the largest since 1983. As part of the explanation, workers commented they took part-time because of "slack business conditions or the only jobs they could find."So why, in September 2012 would this increase happen?I am not one to believe the numbers were faked. Nor do I necessarily believe, though I do not discount, the survey process being flawed to the point of causing this increase. I actually think it is because of a...