Unemployment edges down to 8.5%, 200K jobs added

posted at 8:45 am on January 6, 2012 by Ed Morrissey

The US economy got off to a good start in 2012, thanks to a December increase in hiring that exceeded population growth in working-age adults, even after seasonal adjustments.  According to the Bureau of Labor Statistics, the economy added 200,000 jobs and the jobless rate dropped by a tenth of a point to 8.5%:

Nonfarm payroll employment rose by 200,000 in December, and the unemployment rate, at 8.5 percent, continued to trend down, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in transportation and warehousing, retail trade, manufacturing, health care, and mining.

The BLS recalculated its seasonal adjustments at the end of the year and re-reported jobless rate results for the last four years. This turned out to be a rather mild recalculation; it raised the rate in more months over the last year than it lowered, but the difference in every month was no greater than a tenth of a point. November’s rate went from 8.6% to 8.7%.

There are a few interesting points to note.  Even though the rate of initial weekly jobless claims has declined over the last few weeks, ther has been an increase of 150,000 people unemployed for five weeks or less.  The numbers declined slightly in all other time frames, but that’s something to watch.  The civilian population participation rate hasn’t changed at all from the 64.0% of last month, which remains the lowest level since the Reagan years and which keeps the jobless rate artificially low.  The civilian labor force — all the employed and all those seeking employment — actually declined by 50,000 people since November.  However, the U-6 measure of “real” unemployment dropped from 15.6% in November to 15.2% in December, which is the lowest in three years.

It’s a pretty good but not spectacular result.  In order to gain jobs, we have to net more than 125,000 jobs added each month.  At this rate, it would take 40 months to add 3 million jobs over and above population growth.  I’d rather go in that direction than the opposite, but we need a lot more robust job creation than this to get people back to work.

 

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Just wait until next month until all the seasonal jobs are over….

BTW..isn’t the real rate around 17%-18%, this only counts people that are actively looking for jobs, right?

nazo311 on January 6, 2012 at 9:51 AM

Here we go Sesque, an actual study:

http://research.stlouisfed.org/publications/review/10/01/Engemann.pdf

Greatest impact during recession:

- No college
- Male
- Single

Pretty much the definition of the Republican voter in the midwest.

angryed on January 6, 2012 at 9:51 AM

I would offer that those 200,000 jobs added were all temporary due to the Christmas holiday, and that you’ll see them all disappear this month. I have a couple friends who work for LL Bean in Maine, and that company always almost doubles it workforce over the Christmas season, then lets them all go in January.

TKindred on January 6, 2012 at 9:52 AM

if you’re trying to make a point, provide a link to a study done by someone other than a communist organization.

angryed on January 6, 2012 at 9:47 AM

it’s everywhere you look.

sesquipedalian on January 6, 2012 at 9:54 AM

I have a great idea for”The One” let’s put John Corzine in charge of jobs, then 1.2 billion unemployed will disappear, then “The Ones” reelection is guaranteed!

angrymike on January 6, 2012 at 9:55 AM

Greatest impact during recession:

- No college
- Male
- Single

Pretty much the definition of the Republican voter in the midwest.

angryed on January 6, 2012 at 9:51 AM

because minorities are more likely to be educated, married and female…?

sesquipedalian on January 6, 2012 at 9:56 AM

because minorities are more likely to be educated, married and female…?

sesquipedalian on January 6, 2012 at 9:56 AM

You’re not very bright.

angryed on January 6, 2012 at 9:59 AM

angryed on January 6, 2012 at 9:40 AM

I hear ya, except PBHO is too stupid to understand history and know that it won’t even scratch the surface. He’s got bigger plans and the word “liberty” isn’t included in any of them.

Bishop on January 6, 2012 at 9:59 AM

angryed on January 6, 2012 at 9:35 AM

Canadians rarely vote IN a political party. Rather, they vote out the other guy over some scandal or boneheaded policy. The Conservatives were wiped out in 1993 for a number of reasons, not least of which was their introduction of a still detested sales tax. However, that tax allowed the Liberals to coast for ten years, and helped wipe out the deficit. Then, thanks in small part to a precursor of Hot Air, a scandal brought down the Liberals. Policies had nothing to do with it.

To the extent I have a point, its that the Liberals and Conservatives don’t differ a heck of a lot on policy. They’re both left wing on social issues, and both had (by Canadian standards) fiscally conservative economic plans.

YYZ on January 6, 2012 at 10:00 AM

I provide a research done by university professors.

You provide a USA today poll and a communist blog piece.

Like I said, you’re not very bright.

angryed on January 6, 2012 at 10:01 AM

The Conservatives were wiped out in 1993 for a number of reasons, not least of which was their introduction of a still detested sales tax. However, that tax allowed the Liberals to coast for ten years, and helped wipe out the deficit. Then, thanks in small part to a precursor of Hot Air, a scandal brought down the Liberals. Policies had nothing to do with it.

YYZ on January 6, 2012 at 10:00 AM

So they were wiped out because they raised taxes, but policies had nothing to do with it.

I see.

angryed on January 6, 2012 at 10:04 AM

It was a Chirstmas bounce—-> The biggest growth came in transportation, especially courier services that staffed up for the holidays, health care and manufacturing, according to the U.S. Bureau of Labor Statistics. Labor force participation is now at a 27 year low of 64%, and the labor force itself declined by 50K from 153,937 to 153,887. In fact, persons not in the labor force have increased by 7.5 million since January 2007! Ref.

Dollayo on January 6, 2012 at 10:05 AM

You’re not very bright.

angryed on January 6, 2012 at 9:59 AM

and you didn’t get to pages 15-17 of the doc you linked.

(as a reminder, you stated that “the people most affected by the depression so far have been white working class people.”)

sesquipedalian on January 6, 2012 at 10:08 AM

Wow, angrymike, that is an awesome idea for the other side….I’m sure Axelrod is thinking about that right about now….with all the perks Obama is giving away, & the Republican party beating each other up, Obamacare will probably be upheld in the courts, and the chosen one will be here 4 more years….I need some good news, help!

Belle on January 6, 2012 at 10:09 AM

Easy way for 0 to lower the unemployment rate more… just change the formula used to calculate the workforce and make those that are just looking for jobs considered “employed”.

Tuari on January 6, 2012 at 10:10 AM

With Obama’s policies, what goes down must go up, folks. There is a lot of road between here and November. We may see a tick down in unemployment for a couple of quarters, but then the bottom will fall out of it. Watch and see.

Rational Thought on January 6, 2012 at 10:10 AM

The patriotism showed by Real America in an effort to downplay the good jobs number is inspiring. To recap:

1. It was Christmas!
2. Have you seen the U6!
3. The Kenyan changed the numbers!
4. Good things Sears is closing! More unemployment.

Well done, Real America!

KeninCT on January 6, 2012 at 10:11 AM

Dollayo on January 6, 2012 at 10:05 AM

Seems to me, that is the important fact. I am not employed and don’t count, my neighbor same thing. But I most certainly am one of the “not in the workforse”.
Thesee unemployment numbers just give the “how dare you not love Barry” crowd some basis.
I’ll tell you what scares me, is when there is a new group of college kids looking for work………I’m cleaning out the basement/
Although maybe BO can hire them.

ORconservative on January 6, 2012 at 10:15 AM

The patriotism showed by Real America in an effort to downplay the good jobs number is inspiring. To recap:

1. It was Christmas!
2. Have you seen the U6!
3. The Kenyan changed the numbers!
4. Good things Sears is closing! More unemployment.

Well done, Real America!

KeninCT on January 6, 2012 at 10:11 AM

Learn some basic grade school math you douche.

tetriskid on January 6, 2012 at 10:17 AM

Here in hangin-chad Florida, unemployment benefits have been reduced to 24 weeks.

As other states continue to run out of Obama Stash, you’ll see the first time unemployment “claims” continue to decline, and voila! Obama is a hero.

Key West Reader on January 6, 2012 at 10:17 AM

The patriotism showed by Real America in an effort to downplay the good jobs number is inspiring. To recap:

1. It was Christmas!
2. Have you seen the U6!
3. The Kenyan changed the numbers!
4. Good things Sears is closing! More unemployment.

Well done, Real America!

KeninCT on January 6, 2012 at 10:11 AM

Smells like fear. You know these numbers are, um, suspicious, so you go to sarcasm. You know how dishonest this president is. You know how corrupt his administration is. Yet for some inexplicable reason, you still want to support him, so you’re scared. Scared that it isn’t a trend (it isn’t). Scared that the numbers are being massaged (they are). Scared that it won’t last (it won’t). Scared that the bottom will fall out of it right before the election (it will). That’s what a love affair with corruption feels like. It’s quite discomfiting, isn’t it? You never get to rest because you just know your boyfriend is up to something that’s going to hurt you.

Rational Thought on January 6, 2012 at 10:25 AM

It’s all smoke and mirrors. 50k of the 200k was just seasonal work like couriers. All BS. The unemployment rate is going down because more and more people are just giving up.

This is like saying a new medicine is working because we have fewer sick. Only problem is that we have fewer sick because so many of the sick are dying, not because anyone is being cured.

mitchellvii on January 6, 2012 at 10:28 AM

KeninCT on January 6, 2012 at 10:11 AM

What good numbers might those actually be? Some of those jobs will be seasonal and some will be long term. You have the lowest work force numbers in a generation. 7.5 million Americans are so discouraged they aren’t looking for a job and aren’t counted. Lets add those back into the mix and see what really is happening. Just in the rural town I work in three businesses have gone belly up in the last quarter. This after the town finally got back on its feet between 2004 – 2008. The only business really doing well is the Thrift Store that is part of the Non Profit I run. We are drawing people from several rural towns because they can’t afford to buy new clothes and furniture. The economy is really purring isn’t it?

chemman on January 6, 2012 at 10:30 AM

It,s amazing to see people here at Hot-Air people that should know better to fall for these phony numbers.If you reduce the number of people in the work force by side of hand you will get unreal numbers.If the Bush administration had used this dishonest way to count people in the work force when the unemployment was 5.5%.The unemployment rate would have been around 2.9%.Another way to look at it .Let,s say a track coach reduce a mile run from 5280 ft. to 4280 ft. boy he would have his runners breaking world records ever time he had a track meet.But they would be unreal numbers.

logman1 on January 6, 2012 at 10:31 AM

CNBC

There are still 1.4 million fewer Americans employed from when the president took office in January 2009, a labor force participation rate at a record low and average unemployment duration double what it was then. The level of discouraged workers has surged 34 percent.

Wigglesworth on January 6, 2012 at 10:35 AM

Geesh…what pessimism here! Some of you seem to be actively rooting for more people to be unemployed and the economy worsen just to get rid of Obama. People > Politics.

inthemiddle on January 6, 2012 at 10:35 AM

Hmmm… from David Greenlaw of Morgan Stanley;

“some of the strength in this report should be discounted because of an seasonal quirk in the courier category of payrolls (Fed-ex, UPS, etc). Jobs in this sector jumped 42,000 in December, repeating a pattern seen in 2009 and 2010 (see attached figure). We should see a payback in next month’s report.”

http://www.zerohedge.com/news/massive-beat-not-so-fast-morgan-stanley-warns-42000-jobs-due-seasonal-quirk?

crazywater on January 6, 2012 at 10:35 AM

Easy way for 0 to lower the unemployment rate more… just change the formula used to calculate the workforce and make those that are just looking for jobs considered “employed”.

Tuari on January 6, 2012 at 10:10 AM

Dictates are like that. Of course no one seems to be interested in the 6 million jobs lost since pre-recession.

egmont on January 6, 2012 at 10:39 AM

Geesh…what pessimism here! Some of you seem to be actively rooting for more people to be unemployed and the economy worsen just to get rid of Obama. People > Politics.

inthemiddle on January 6, 2012 at 10:35 AM

Looks like skeptics and critical thinkers to me.

egmont on January 6, 2012 at 10:40 AM

Gotta hand it to gridlock, huh?

BKeyser on January 6, 2012 at 10:40 AM

This is great news. I’d enjoy it if they weren’t laying people off at my company today.

Nick_Angel on January 6, 2012 at 10:41 AM

Why did the market yawn at this info? Morgan Stanley reports 42,000 of the 200,000 is a seasonal quirk in the courier category (Fed-ex, UPS, etc), which will be given back next month.

jbenson2 on January 6, 2012 at 10:44 AM

Will there be anything left of the US as a constitutional republic in 2016? What would be the need for an election at that point?

Tuari on January 6, 2012 at 9:20 AM

No.

Mimzey on January 6, 2012 at 10:46 AM

Will there be anything left of the US as a constitutional republic in 2016? What would be the need for an election at that point?

Tuari on January 6, 2012 at 9:20 AM

No. Nyet
Mimzey on January 6, 2012 at 10:46 AM

FIFY

egmont on January 6, 2012 at 10:48 AM

I would like to be excited about this….key words would like however as I posted on the story about the 365,000 jobs added that number would be much lower and low and behold it was….last months figures were also adjusted down. Finally it seems the number of people who are discouraged and have stopped looking known as the U-6 # sits at 15.2%/so I am not sure how one can be pleased if that is factored into the equation……

Karla1953 on January 6, 2012 at 10:53 AM

Dude, chill. I’m actually happy about this. I want Obama to win. Seriously. GOP will won both houses of congress. With Obama in the WH it’s gridlock-i-licious. Which is the best possible scenario.

angryed on January 6, 2012 at 9:42 AM

..because the posting of a member of the senate every three days to prevent recess appointments worked out so well.

ed, Ed, ed, flush out your headgear, new guy. A Republican-controlled Congress ain’t gonna stop this guy from deconstructing this country. By the time 2016 rolls around, you will not recognize this country let alone have your precious, conservative nirvana.

Don’t you see what they’re doing with your conservative candidates? Crazy Eyes Bachmann, Newter is a nut job (their assertion), Santorum and his wife playing with a their stillborn baby. Cain is shagging every woman in sight (even while he was surviving colon cancer).

Ed, I loves ya like a brother, but we don’t stop this guy now and it’s a quick slide into the septic tank for the whole bleeding lot of us.

And the rest of you guys get a clue also. OBAMA HAS TO BE STOPPED! The guy is lawlessly taking over this country. He gets four more years and we’ll all be pinin’ for the fjords.

The War Planner on January 6, 2012 at 10:54 AM

You must be a closet Obama fan/voter, Ed and you deserve to take some MAJOR heat for your errors in this article as well for your hubris.

Enamored with the 200,000 number? Don’t be, Ed.The reason why the market has basically yawned at this BLS data is that as Morgan Stanley’s David Greenlaw reports, 42,000 of the 200,000 is basically a seasonal quirk, which will be given back next month, meaning the true adjusted number is 158,000, essentially right on top of the expectation. This is identical to the pattern seen in December of 2009 and 2010.

The nonfarm payroll number prints at 200K on expectations of 155K. The Unemployment rate comes at 8.5% – lowest since February 2009, and down from an upward revised 8.7%. U-6 15.2% down from 15.6% in November. Average hourly earnings rose at 0.2%, in line with expectations, previous revised to -0.1% from unchanged. Private payrolls +212L vs Expectations of 178K. Manufacturing payrolls rose 23K vs Expectations of 155K.

Yet the unemployment rate trickery still continues, with labor force participation (prior revised), now at a 27 year low of 64%, and the labor force itself declined by 50K from 153,937 to 153,887. In fact, persons not in the labor force have increased by 7.5 million since January 2007!

The bottom line? Dropping off of labor statistic rolls is the way to reduce UE. bahahahahahahahahahahahahahahahaha

DevilsPrinciple on January 6, 2012 at 11:07 AM

Geesh…what pessimism here! Some of you seem to be actively rooting for more people to be unemployed and the economy worsen just to get rid of Obama. People > Politics.

inthemiddle on January 6, 2012 at 10:35 AM

Welcome to Real America! Undefeated!

KeninCT on January 6, 2012 at 11:11 AM

KeninCT on January 6, 2012 at 10:11 AM

^^^^^^ Basket Case ^^^^^^

DevilsPrinciple on January 6, 2012 at 11:13 AM

However, the U-6 measure of “real” unemployment dropped from 15.6% in November to 15.2% in December, which is the lowest in three years.

Yeah, we’re doing just FABULOUS!

GarandFan on January 6, 2012 at 11:20 AM

I’d like to know how many were public versus private jobs.

PattyJ on January 6, 2012 at 11:22 AM

Obama has always been an extremely lucky politician and it’s continuing now. The sex scandal got him a Senate seat. The financial collapse got him the Presidency. And it looks like the timing is perfect with the recovery happening during election year. Reagan got the perfect timing in 84, as well, and no one was going to beat him.

gumbyandpokey on January 6, 2012 at 11:23 AM

Lies, damned lies, and statistics. What better timing that during the GOP primaries (and their resulting media coverage) for the Obummer regime to spin jobless numbers to their favor.

The jobs added in the last quarter were for Santa elves and Hanukkah Harry’s helpers. They are low-wage paying sales and warehouse jobs that mostly will decline by the beginning of February. Transportation probably gained some seasonal jobs or increased deliveries to ship and deliver holiday goods, but those increases will fizzle out in the first quarter. Seasonal adjustments, me arse.

The private sector needs to create good paying jobs that help folks raise families, and it is not happening due to uncertainty and lack of confidence in President Jackass. They’re saving, not investing.

Philly on January 6, 2012 at 11:27 AM

wow, i think it says a lot how some people are going out of their way to put this in a negative light. SMH, is that really necessary? You come across as wishing for the worst “wait until this happen, wait until that happens” ….just saying.

But on another note if the trend continues in the right direction, expect this to help Obama as well in his landslide win against the ‘wallstreet poster boy” that the GOP establishment decided to run in the year of OWS and income inequality

In hindsight…the tea party really screwed this up….by blending with GOP!!

Can.I.be.in.the.middle on January 6, 2012 at 11:29 AM

Ed: It’s a pretty good but not spectacular result.

So I’m supposed to believe the gubmint’s numbers ? I’m not buying it.

williampeck1958 on January 6, 2012 at 11:30 AM

Good article on Zerohedge about the unemployment rate

excerpt:
It won’t surprise anyone that as of December, the real implied unemployment rate was 11.4% (final chart) – basically where it has been ever since 2009 – and at 2.9% delta to reported, represents the widest divergence to reported data since the early 1980s. And because we know this will be the next question, extending this lunacy, America will officially have no unemployed, when the Labor Force Participation rate hits 58.5%, which should be just before the presidential election.

Full story:
http://www.zerohedge.com/news/real-jobless-rate-114-realistic-labor-force-participation-rate

Wigglesworth on January 6, 2012 at 11:30 AM

Get ready to see unemployment come dow to 5% and GDP growth to increase to 4%. After all, Obummer has to be reelected and who is going to dispute the numbers if they are fudged to make him look great. It’s going to happen.

they lie on January 6, 2012 at 11:30 AM

Some of you have to understand, the reason they extend unemployment and food stamps is to keep the unemployment rate low. People don’t have to look for work if they are being fed and given rent money.

Africanus on January 6, 2012 at 11:37 AM

Nov 2012 – Barry SoeZero wins the 2nd term as US president. Sesquipedalian is on the street celebrating.

Feb 2013 – GOP elites votes for the fusion with the Democratic party, in the name of national unity. National Salvation Front is created, and republic abolished. Long live the King!

July 2013 – MOstly white right-wingers republicans and some blacks and hispanic “collaborators” are kicked in their teeth – after all most of them are above 50 years old. Sesquipedalian is in charge of one of the reeducation camps. Also we find out why unemployment numbers improved – 1 million revolutionary guards were in training for the last year or so.

August 2013 – It’s a modern age – reeducation ended fast, the soap and fertilizer production soared. Sesquipedalian is promoted head of Ministry of Propaganda – after all the camp he supervised ended the reeducation of hostile elements first!

September 2013 – food production does not look too good despite all that extra fertilizer, killing all those gun-clinging farmers was not so bright. Sesquipedalian makes a speech blaming climate change and sabotage.

December 2013 – harsh winter. King SoeZero is coming back from Hawaii where he was celebrating since Nov 2012. The food-stamp people have a lot of stamps now but no food – streets are boiling. The king is displeased – camps are re-open to accomodate the dissenters.

Feb 2014 – 1st anniversary of the royal family coronation. Some pesky urban peasants are occupying the cities. Revolutionary guards are taking care of them. Sesquipedalian is fired from Ministry of Propaganda and sent to one of the camps as a traitor – as all big-mouth idiots are – after making a comment in private to his relatives about fuel rations.

1st May 2014 – Sesquipedalian suffer a serious and unfortunate accident at the daily carrot soup line. Twinkles down – there are no hospitals in the camps. In the cities SEIU are marching victorious celebrating Government Workers Day.

The End.

PS – I was born in a communist country and unfortunately still live in the aftermath – so STFU you marxist idiots.

Rookie on January 6, 2012 at 11:46 AM

Read Tyler Durdun post at Zerohedge.com.He says if the B.L.S.keeps lowering the labor force participation at this rate Phony rates he adds .The unemployment rate will be 0% by election date in Nov.2012.

logman1 on January 6, 2012 at 11:48 AM

wow, i think it says a lot how some people are going out of their way to put this in a negative light. SMH, is that really necessary? You come across as wishing for the worst “wait until this happen, wait until that happens” ….just saying.

But on another note if the trend continues in the right direction, expect this to help Obama as well in his landslide win against the ‘wallstreet poster boy” that the GOP establishment decided to run in the year of OWS and income inequality

In hindsight…the tea party really screwed this up….by blending with GOP!!

Can.I.be.in.the.middle on January 6, 2012 at 11:29 AM

It isn’t just here. No one is buying this. Even over at Obama central — MSNBC — they’ve got an online poll showing that over 60% see no improvement in the economy, despite these massaged numbers from the Politburo. Looks like Obama’s dishonesty is catching up with him.

Rational Thought on January 6, 2012 at 11:51 AM

Half of my office got laid off last month. All of those jobs were good-paying knowledge positions. No Hopenchange here.

Philly on January 6, 2012 at 11:54 AM

Remember when Pinochet was in charge down in Chile and people (who opposed him) just kept disappearing? They came to be known as “the disappeared.” We’ve got our own disappeared now in the United States of America. Every time the Obama labor department issues a new jobs report, another 50,000 Americans disappear from the labor market.

Rational Thought on January 6, 2012 at 12:02 PM

It’s funny to see these left wingers acting like this is awesome after Obama has been in charge for 3 plus years and the economy has been atrocious the entire time.

therightwinger on January 6, 2012 at 12:02 PM

It,s amazing to see people here at Hot-Air people that should know better to fall for these phony numbers.If you reduce the number of people in the work force by side of hand you will get unreal numbers.If the Bush administration had used this dishonest way to count people in the work force when the unemployment was 5.5%.The unemployment rate would have been around 2.9%.Another way to look at it .Let,s say a track coach reduce a mile run from 5280 ft. to 4280 ft. boy he would have his runners breaking world records ever time he had a track meet.But they would be unreal numbers.

logman1 on January 6, 2012 at 10:31 AM

I have been tracking and commenting on this for almost three years now on HA and have informed folks here of how the administration has changed the methods for computing the U3 and U6, as well as spamming poor Ed with links to info and articles about this topic.

Yes the Zeroheadge piece spells out some of what I have been ranting about.

Our labor force is not shrinking. It grows month after month, but the number of jobs here IS shrinking. Emperor Zero desperately needs that unemployment number to go down, and so he directed the BLS to start arbitrarily writing off American Workers who cant find jobs.

Cute trick. But thats not all the magic math that’s been going on.

dogsoldier on January 6, 2012 at 12:04 PM

Remember when Pinochet was in charge down in Chile and people (who opposed him) just kept disappearing? They came to be known as “the disappeared.” We’ve got our own disappeared now in the United States of America. Every time the Obama labor department issues a new jobs report, another 50,000 Americans disappear from the labor market.

Rational Thought on January 6, 2012 at 12:02 PM

Great point. It scares me that we have lost enough labor market souls that the real unemployment rate is nearly 11 percent. The U6 has to be at least 17%. It has to get better. Obowma must go.

Philly on January 6, 2012 at 12:07 PM

It isn’t just here. No one is buying this. Even over at Obama central — MSNBC — they’ve got an online poll showing that over 60% see no improvement in the economy, despite these massaged numbers from the Politburo. Looks like Obama’s dishonesty is catching up with him.

Rational Thought on January 6, 2012 at 11:51 AM

It’s one thing to have a negative outlook, but it’s another to wishfully expect the good news to reverse itself to prove that Obama is a failure. We don’t need people losing jobs or not getting jobs to prove that. At the end, they are the immediate victims.

Can.I.be.in.the.middle on January 6, 2012 at 12:09 PM

Pepsi is weighing laying off 4,000…. ignore the spin… things remain rocky…

PA Guy on January 6, 2012 at 12:09 PM

reuters reports:

All told, 23.7 million Americans are either out of work or underemployed.

http://www.reuters.com/article/2012/01/06/us-usa-economy-idUSTRE7BM0AB20120106

And that number is lower than reality.

dogsoldier on January 6, 2012 at 12:17 PM

How much you wanna bet a lot more people will mysteriously vanish from the work force between now and November?
Doughboy on January 6, 2012 at 8:48 AM

I can see the headlines now:

FROM THE WHITE HOUSE – BABY BOOMERS ABLE TO RETIRE EARLY!

Thanks to President Obama, baby boomers have been retiring earlier and earlier. Some are retiring even in their late 50′s! The President happily pronounce his economic policies a great success and promised to “keep up the good work” if he is re-elected in November…

Mr_Magoo on January 6, 2012 at 12:23 PM

I see a trend and it is not towards lower unemployment, only lower employment.
http://www.bls.gov/news.release/empsit.t16.htm

Total not in the labor force 2010 DEC = 85,733,000
Total not in the labor force 2011 DEC = 87,212,000
Total not in the labor force 2011 NOV = 86,757,000
Total not in the labor force 2011 OCT = 86,181,000

Total multiple jobholders 2010 DEC = 6,884,000
Total multiple jobholders 2011 DEC = 7,030,000
Total multiple jobholders 2011 NOV = 7,083,000
Total multiple jobholders 2011 OCT = 6,989,000

LoganSix on January 6, 2012 at 12:24 PM

Pepsi is weighing laying off 4,000…. ignore the spin… things remain rocky…

PA Guy on January 6, 2012 at 12:09 PM

Boeing too, I think. And Kodak is going belly up. It’s awesome!

Mr_Magoo on January 6, 2012 at 12:25 PM

Want to be bet participation rate barely budges between now and the election?

ButterflyDragon on January 6, 2012 at 12:32 PM

Can.I.be.in.the.middle

Yes you can. It was called No Mans Land before, the area were all the corpses littered the ground because it was too foolish to go to retrieve them. No Hope there.

I’m not American – are you? Do you understand that those numbers are cooked? Counting only people filling unemployment benefit applications and not the others who gave up or are above the term limit after 3 years from the 2008 crisis?

I guess in US only the government employees don’t get the real situation.. just like in the rest of 3rd world banana republics/monarchies where the only good paid jobs to be found are in the government payroll.

Nobody here wants bad numbers to prove that 0bama is a failure because he IS. Since he was 14 years old.

Rookie on January 6, 2012 at 12:39 PM

It’s one thing to have a negative outlook, but it’s another to wishfully expect the good news to reverse itself to prove that Obama is a failure. We don’t need people losing jobs or not getting jobs to prove that. At the end, they are the immediate victims.

Can.I.be.in.the.middle on January 6, 2012 at 12:09 PM

Pointing out that a corrupt president and a corrupt labor department are publishing false employment figures is NOT wishing people were unemployed. That is such typical spin by the servants of a dishonest regime. How ironic that you saw fit to boldface the word “wishfully” in your post above. It is, you, my friend, who is wishing these employment numbers could be true, because you know they are not, and you’re scared. When will the bottom drop out of this charade? Will it be right before the election? THAT is what you fear — and you should fear it.

Rational Thought on January 6, 2012 at 12:50 PM

NEWS

The civilian population participation rate hasn’t changed at all from the 64.0% of last month, which remains the lowest level since the Reagan years and which keeps the jobless rate artificially low. The civilian labor force — all the employed and all those seeking employment — actually declined by 50,000 people since November.

NOT NEWS

The “official” unemployment rate, blah, blah, blah….

Reporting the “official” unemployment rate with champagne and trumpets is somewhat akin to reporting that the rate of burglaries in the neighborhood has dropped dramatically because all of the burglars have been killed in drive-by shootings or, Option B, all the houses have been cleaned out already and there’s nothing left worth stealing.

Only the government (with a helpful hand from the media, including Hot Air) can take simple math and turn it into a pretzel.

If people stop looking for work because there isn’t any, we cheer because the “official” unemployment rate dropped. I hear the orchestra on the Titanic was terrific, too.

IndieDogg on January 6, 2012 at 1:07 PM

As linked from the Drudge Report:

Real Jobless Rate Is 11.4% With Realistic Labor Force Participation Rate

ITguy on January 6, 2012 at 1:15 PM

The bottom line here is that the Obama regime isn’t high-fiving themselves over this. President Zero’s remarks today were very, very tempered. He’s waiting to see how many people will catch on to the cooked books. If a mass of people catch on, he’ll lie low; if very few catch on, he’ll start bumping chests. He knows it’s a lie. Why don’t some folks here?

Rational Thought on January 6, 2012 at 1:32 PM

IndieDogg Option B, all the houses have been cleaned out already and there’s nothing left worth stealing.

Thread winner, and I read it all (until now, I’m quite a pesimist)

Rookie on January 6, 2012 at 1:40 PM

All Smoke and mirrors.

16,000,000,000,000.00 debt and rising fast.

(and not one new carrier to show for it)

Anyone can make happy days and good numbers with this spending spree.

But this shall not stand.

WryTrvllr on January 6, 2012 at 1:47 PM

What happens to the 8.5% when the military sheds 500k? woohoo…youth vote for O’bozo!!!

WryTrvllr on January 6, 2012 at 1:50 PM

Drudge has this link Real jobless Rate is 11.4%

I call these three year people. People who went past 99 weeks and now in the third year. I meet more and more. I have some in my family. Generally they live off a relative, unless they have a child to get welfare. Cannot count how many people I know have at least one in the family circle. When their life line falls away, watch out.

All told, 23.7 million Americans are either out of work or underemployed.

When 500,000 soldiers are phased out, whose jobs are these ex soldiers going to get? I would rather pay a soldier to be on standby, then pay a useless make work federal office clerk to push paper across a desk

entagor on January 6, 2012 at 2:14 PM

I love how the “dissent is patriotic” liberal trolls are in here trying to suggest conservatives are unpatriotic for looking beyond the 8.5% number to the workplace participation rate, number dropped out of workforce since 2007, etc.

I guess dissent is only patriotic if you’re liberal, and then it must be accompanied by destroying public parks and leaving millions in clean up costs to the taxpayers.

Look liberal trolls, we’re not cheering that people are out of work, we’re frustrated that the games played with the numbers aren’t reported, at least not the same way they are in a GOP administration. This administration can just throw people out of the workforce to push the numbers down, while previous ones were castrated in the press for 5.4% unemployment because job growth was slow.

And our fear isn’t that people will get back to work. It’s that this communist administration will further play games with the statistics to make things look better than they are as they regulate the economy and spend the country into oblivion.

PastorJon on January 6, 2012 at 2:15 PM

I would be happy to see the true unemployment figures decline, and I don’t care which side gets credit for it. The problem is that the scumbag politicians are pathological liars and executive administrations of both parties will manipulate numbers to suit their purposes. And the sheeple will believe them. Unemployment isn’t a game, but the two parties sure treat it like it is.

As others have stated, reality is much different than the government propagandist numbers. Simply look around – anything improving? Is the national debt being reduced? Have the tax codes been streamlined? Have onerous job-killing fed and state regulations been reduced or eliminated? Are the strip malls filling up with new small businesses? Anyone seeing any factories being built or enlarged? Are people buying houses? Are fewer people on welfare and food aid and housing assistance and other government cash handouts? Are states’ tax revenues dramatically increasing? Has congress passed a freaking budget lately? And on, and on, and on…

AttaBoyLuther on January 6, 2012 at 2:21 PM

Unemployment edges down to 8.5%

This is only more proof that “Liars can Figure”!!

The books have been “cooked” to eliminate both ‘jobs’ and potential ‘workers’ from the calculation. The 8.5% is a lie…carefully constructed, but still a bald-faced lie!!! The true unemployment number is well into double digits.

Additionally, the “200K jobs added” is not even enough to accommodate new entries into the work force!!! This fact alone exposes the lie, because “unemployment” cannot truly be less if jobs are not even created fast enough to employ new workers (such as recent high school and college graduates).

The fact that “jobs lost or destroyed” are not accounted for also marks these pronouncements as ‘simply not credible’!!!

landlines on January 6, 2012 at 2:37 PM

Wow, Real America now has their very own REAL Unemployment rate! Remember, good news is baaadd!!

Well played!

KeninCT on January 6, 2012 at 3:08 PM

46 thousand alone are drivers hired just for the holiday season. Just as many cashiers and sales persons were hired for the season.

And they reduced the workforce by another 50 thousand

Hotair seems to be going downhill

LeeSeneca on January 6, 2012 at 3:17 PM

To quote a patriot, “YOU LIE!”

Colatteral Damage on January 6, 2012 at 3:53 PM

Sesquipedalian is in charge of one of the reeducation camps.

gonna be a lot of fun, but not for you, future camp dweller.

PS – I was born in a communist country and unfortunately still live in the aftermath – so STFU you marxist idiots.

Rookie on January 6, 2012 at 11:46 AM

those commies couldn’t even do reeducation right. in any case, your keen insight on US domestic politics from across the world is much appreciated.

sesquipedalian on January 6, 2012 at 4:10 PM

estimates, assumptions, statistics…obviously items that are set in stone and non-fungible.

Would you believe it if they said 7%? how about 10%? If not, then they are not trustworthy with any numbers. Add on to that, jobs don’t correct debasement or inflation, they only cushion the effect. Let me know when home prices, food prices, fuel prices, all correct themselves….which will never happen because government finds them either helpful or irrelevent to their view.

John Kettlewell on January 6, 2012 at 4:15 PM

Ok 200k new jobs. Lowers rate to 8.5%. What about the near 1.5 million new unemplotment claims last month. Is some one cooking the books here? Who would that be?

cjt1957 on January 6, 2012 at 4:31 PM

your keen insight on US domestic politics from across the world is much appreciated.

sesquipedalian on January 6, 2012 at 4:10 PM

I suspect you are from here in the US and your commentary is pathetic.

CW on January 6, 2012 at 6:54 PM

Why is it that when 200K jobs ARE LOST, the unemployment rate ONLY GOES UP from 9.5% to 9.6%. But, when 200K jobs ARE ADDED, the unemployment rate DROPS from 9.5% all the way down to 8.5%. Government lying to us once again to fudge the numbers.

And, this works ENTIRELY THE OTHER WAY AROUND whenever a Republican is in the White House!

Mahdi on January 6, 2012 at 6:59 PM

No wonder we have Obama for president. Our country is full of a bunch of intellectually lazy people. Here is the real jobs picture from Gerri Willis at Fox Business. Obama is a fake and a phony.

http://www.foxbusiness.com/on-air/willis-report/blog/2012/01/06/stop-cooking-books-mr-president

wodiej on January 7, 2012 at 5:50 AM

This is just the beginning of the manufacturing process for statistics favorable to the big O. This is all fake. He controls the data.

COgirl on January 7, 2012 at 12:09 PM

This is just the beginning of the manufacturing process for statistics favorable to the big O. This is all fake. He controls the data.

COgirl on January 7, 2012 at 12:09 PM

Presidents have manipulated numbers before, although not as much as Obama. As others have pointed out, many people know someone who’s been hurt by this deep recession. In spite of the media trying to protect him, even an online poll by MSNBC shows that the majority find no improvement in the economy. Reality may yet trump Obama and media manipulation. There’s only so far people are willing to go before they no longer trust you. If the media and Obama continue to say that things are improving, the public might just give up on them both. I’m still hoping that Obama buries himself and the media. They both deserve it.

Gladtobehere on January 7, 2012 at 7:42 PM

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