Jobs, Jobs, Jobs yeah!

2 comments to Jobs, Jobs, Jobs yeah!

  • rainmaker

    1.2 million fall off the labor force and they print that crap. What, do they think we are all stupid? (The answer is YES) See the article below from Zero Hedge. The percentage of working age adults NOT WORKING is at an ALL TIME HIGH. If you want some really good graphs, go to the link below:

    http://www.zerohedge.com/news/record-12-million-people-fall-out-labor-force-one-month-labor-force-participation-rate-tumbles-

    Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low
    Submitted by Tyler Durden on 02/03/2012 08:51 -0500

    BLS Bureau of Labor Statistics Unemployment Withholding taxes

    A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is to crush the labor force participation rate to about 55%. Looks like the good folks at the BLS heard us: it appears that the people not in the labor force exploded by an unprecedented record 1.2 million. No, that’s not a typo: 1.2 million people dropped out of the labor force in one month! So as the labor force increased from 153.9 million to 154.4 million, the non institutional population increased by 242.3 million meaning, those not in the labor force surged from 86.7 million to 87.9 million. Which means that the civilian labor force tumbled to a fresh 30 year low of 63.7% as the BLS is seriously planning on eliminating nearly half of the available labor pool from the unemployment calculation. As for the quality of jobs, as withholding taxes roll over Year over year, it can only mean that the US is replacing high paying FIRE jobs with low paying construction and manufacturing. So much for the improvement.

    Chart below shows it all – that jump is not a fat finger!

    And Labor Force Participation:

    This is the largest absolute jump in ‘Persons Not In Labor Force’ on record…and biggest percentage jump in 30 years.

    Chart: Bloomberg

  • Kyle

    Thanks for the info Rainmaker! That chart looks like the “Persons not in Labor Force” giving Obama the finger!

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