Unemployment rate drops to 8.3%, 243K jobs added

posted at 8:40 am on February 3, 2012 by Ed Morrissey

The US economy had a good month for job creation in December, according to the new report this morning from the Bureau of Labor Statistics.  We added 243,000 net jobs and the unemployment rate fell two-tenths of a percent to 8.3%:

Total nonfarm payroll employment rose by 243,000 in January, and the unemployment rate decreased to 8.3 percent, the U.S. Bureau of Labor Statistics reported today. Job growth was widespread in the private sector, with large employment gains in professional and business services, leisure and hospitality, and manufacturing. Government employment changed little over the month.

There seemed to be a glimmer of hope on workforce participation, too, although not much motion:

After accounting for the annual adjustments to the population controls, the employment-population ratio (58.5 percent) rose in January, while the civilian labor force participation rate held at 63.7 percent. (See table A-1. For additional information about the effects of the population adjustments, see table C.)

The number of persons employed part time for economic reasons, at 8.2 million, changed little in January. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.)

In January, 2.8 million persons were marginally attached to the labor force, essentially unchanged from a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. (See table A-16.)

The key measure of labor underutilization, the U-6 number, declined slightly on a seasonally-adjusted basis to 15.1% from 15.2% in December.  That is the lowest U-6 number since February 2009, although it’s still far above the 8-9% range of the second Bush term.  That measure dropped most significantly in the fourth quarter of last year, falling 1.2 points.

There were some changes made to the surveys this month, which is a routine part of adjusting for population shifts.  In this case, it tended to be a wash for the overall jobless rate but lowered participation rates by three-tenths of a point.  That’s why the report says that the civilian-population participation rate was unchanged at 63.7% when it had been 64.0% in December.  The BLS will not restate past results as part of their update.  The U-6 numbers are not based on that survey and so are more consistent within their series.

The AP reports that the expansion was broadly based as well:

Employers have added an average of 201,000 jobs per month in the past three months. That’s 50,000 more jobs per month than the economy averaged in each month last year.

The Labor Department’s January jobs report was filled with other encouraging data and revisions. Hiring was widespread across many high-paying industries. Pay increased. And the economy added 200,000 more jobs in 2011 than first thought.

And the unemployment is nearly a percentage point lower than over the summer, when feared a recession was imminent. The last time the unemployment rate has dropped for five straight months was in late 1994.

It falls to a Reuters analyst, David Sloan, to inject a cautionary note:

January’s non-farm payroll with a 243k increase was sharply above a consensus increase of 150k with positive if undramatic back month revisions. The breakdown looks positive almost across the board with manufacturing at +50k particularly impressive. Workweek data was improved, sustaining an upwardly revised December level, though hourly earnings with a 0.2% rise merely met consensus. The unemployment rate saw another significant fall, by 0.2% to 8.3%, when the consensus was for no change, with the fall due to increased employment not losses in the labor force. The broader U-6 measure of labor market slack, after three straight 0.4% plunges, saw only a modest fall of 0.1% to 15.1%, but there can be no doubts over the positive nature of this report. There is only one obvious significant caveat, an unusually mild winter restricting the number of seasonal layoffs, which are always heavy in January. Unadjusted, January payrolls still fell by 2.689 mln.

We’ll see if this continues, or whether it plateaus as the CBO expects.  If it continues, Barack Obama might start seeing his approval numbers sliding upward again.

Update: Zero Hedge points to a curious change in the number of people not in the labor force:

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!

I’m looking at the A-16 historical record (for people not in the labor force, not seasonally adjusted), and the number of people 16 years or older not in the work force changed from 87,212,000 in December 2011 to 88,784,000 in January — which is an increase of 1.572 million, not 1.2 million.  That doesn’t affect jobs added, which are calculated in a separate survey, but it would tend to impact the U-6 rate by increasing the denominator of the calculation, which would lower the resulting ratio or percentage.  Let’s take a look at the raw numbers in those categories:

  • Want a job now (in thousands, total set) — 6495, up from 6135 in December
  • Plus, Available to work now — 2809, up from 2540
  • Plus, Discouragement over job prospects — 1059, up from 945
  • Plus, reasons other than discouragement — 1749, up from 1595

The drop in the U-6 looks like it’s indicating a decline when we’re in fact seeing a modest increase in discouragement, even with the added jobs.

Update II: Steve Eggleston writes to tell me that Zero Hedge was looking at seasonally adjusted figures from table A-1 while I was checking A-16.  The change in A-1 is 1.177 million, rounded up to 1.2 million.  Also for clarification, the “plus” items in the bulleted list above are subsets of the “Want a job now” category.

One source from Capitol Hill wants to make this point as well:

Here is an important fact:  Despite a population increase…

  • People working in Jan. 2009 – 142,099,000
  • People working in Jan. 2012 – 141,637,000

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I thought it wasn’t about race with y’all. First someone threatens to fight me to the death, now people are throwing out comments about the President being “half-black” as if that’s some kind of disparaging attribute. HotAir…what’s happened?

libfreeordie on February 3, 2012 at 9:53 AM

President mom jeans is way more white than black homey. He knows nothing of the black experience and doesn’t mind their double the rate unemployment. You know…sorta “I don’t care about black people”, ala Romney.

Yet you libs are so happy about your first black president :) Oh, and if Herman Cain runs for president? Screw him! Call him Uncle Tom! Question his Vietnam credentials! Hang that n*gger!

DHChron on February 3, 2012 at 10:00 AM

when did liberals become Big Government advocates? Henry David is rolling in his grave.

DHChron on February 3, 2012 at 9:56 AM

Mills, darling, Mills.

libfreeordie on February 3, 2012 at 10:01 AM

Unemployment rate is 23% when you do the calculations using methods which were previously standard for government unemployment figures. Changes starting with the Clinton administration have artificially lowered the unemployment rate for political purposes.

http://www.shadowstats.com/alternate_data/unemployment-charts

“The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.”

Viator on February 3, 2012 at 10:01 AM

You’ll either lose, or I will die.

I’d love to fight you but will willingly die for Freedom.

Key West Reader on February 3, 2012 at 9:42 AM
uh-oh.

sesquipedalian on February 3, 2012 at 9:48 AM

Damn right, you punk

Key West Reader on February 3, 2012 at 10:01 AM

Obama gets the blame when the economy is down because he is the President..I agree with that.

He should also get credit when the economy is rebounding. You are hell-bent on Obama losing re-election to the point where you want to take way credit when it is due. This very sad.

it looks to me conservatives want America to fail for political gain

liberal4life on February 3, 2012 at 9:53 AM

When has Obama gotten the blame for anything? We’re threee years into this bufoon’s presidency, and he still blames Bush for the economy. However, in dumbass liberalland, Obama doesn’t deserve blame for things that go wrong, and can claim credit when things are going well. You should change your handle to clueless4life, and be done with it.

ghostwriter on February 3, 2012 at 10:01 AM

Nope we just wish people like you would wake up to the lie. The economy isn’t actually improving. Just the manipulated reports are changing.

There are still over thirty million people out of work. Tell them how great the economy is.

dogsoldier on February 3, 2012 at 9:58 AM

All I know is the economy is heading in the right direction. Companies are hiring and the unemployment rate keeps dropping.

I know you want America to fail so that your party can get some political capital. I would appreciate it if you admit your motives rather than spinning around the issue

liberal4life on February 3, 2012 at 10:03 AM

Hurry up and tell us the things JugEars did to improve the economy…QUICK!…before your brain cells die!

KOOLAID2 on February 3, 2012 at 9:59 AM

Hurry now! You’re killing our time and your brain cells!

KOOLAID2 on February 3, 2012 at 10:03 AM

THREE YEARS of Obamanomics and all he has is 8.3% unemployment to show for it.

What was it when he took office?

Oh, yeah, it was much lower.

Obama, increasing unemployment everywhere.

Gunlock Bill on February 3, 2012 at 10:03 AM

You’d better hope that the trend doesn’t continue or BHO will get re-elected and then take away your guns.

KeninCT on February 3, 2012 at 9:51 AM

Heh, Obama declaring them illegal by EO will not make them disappear.

roy_batty on February 3, 2012 at 10:04 AM

No darling, I’m quite aware of how screwed the economy is. I just find the reaction to this post to be amusing. I don’t know if you all remember, but during the second half of the Bush Administration those of us on the left (Krugman was one) kept pointing out that the economic numbers under the Bush Administration weren’t quite as good as everyone beleived. We pointed out that under employment was very high and that the freeze in wages meant that being employed did not mean you were making enough money to live on. And certainly not making enough if some emergency popped up.

libfreeordie on February 3, 2012 at 9:58 AM

This is ridiculous. Where do you get the idea that you get to look down your nose at anybody after posting nonsense like this?

ghostwriter on February 3, 2012 at 10:05 AM

This pile of crap is not only a lie it,s a Damn lie and for the life of i can not understand why Hot-Air would post this crap.One last question were in Gods name are all of these people who have vanish from the work force?

logman1 on February 3, 2012 at 9:59 AM

Oh, that was the reason Obama signed that new policy.. that “I can make people disappear” now thingy.

JellyToast on February 3, 2012 at 10:06 AM

his economy will rebound and Willard will never be President.

Obama 2012

liberal4life on February 3, 2012 at 9:43 AM

When the troll’s right, the troll’ right.

angryed on February 3, 2012 at 10:06 AM

If PBHO does try to take our guns at least he has a ready market to resell them in Mexico.

Bishop on February 3, 2012 at 10:06 AM

All I know is the economy is heading in the right direction. Companies are hiring and the unemployment rate keeps dropping.

I know you want America to fail so that your party can get some political capital. I would appreciate it if you admit your motives rather than spinning around the issue

liberal4life on February 3, 2012 at 10:03 AM

Me! I appreciate that you set aside some time each day…to publicly humiliate yourself!

KOOLAID2 on February 3, 2012 at 10:06 AM

All I do is worry for you. I mean, my God man/woman. You live in paradise. Go outside, get some sun and relax. It can’t be all that bad. As for your paranoid delusions about government enslavement, well…I don’t know maybe its time to come back in from the sun.

libfreeordie on February 3, 2012 at 9:51 AM

I’m a woman.

Now, let’s get something straight.

First of all, I absolutely loathe you. That’s a hard thing to achieve.

Second, If I chose to take you out on a boat (unlikely), the best I’d do for you is to use you as chum.

Third: I’m black.

How ’bout that?

Key West Reader on February 3, 2012 at 10:06 AM

libfreeordie on February 3, 2012 at 9:58 AM

Under Bush the media reported the U6 number contantly so we all knew what it was and the LSM called it a depression. Bush never manipulated the size of the labor force to make the problem go away.

You really do not get what’s going on with us at all! No shock there. Our current situation is at nightmare level.

It amazes me you would want to derive amusement from the topic, but you said it.

dogsoldier on February 3, 2012 at 10:07 AM

That’s what I suspected. There’s no way the unemployment rate drops at the rate it’s been doing so unless they’re just flat out removing millions of people from the workforce. And it’s shameful that they’re able to pull crap like this since we all know that the key statistic that everyone looks at is the unemployment rate. Why even bother reporting it anymore if it can manipulated so easily?

Doughboy on February 3, 2012 at 9:14 AM

That’s ridiculous. Nobody is manipulating anything.

ghostwriter on February 3, 2012 at 10:07 AM

This is why going with Willard was stupid. His only selling point was he could turn the economy around. Well, it’s already turned around, what else does he have? Nothing. All those precious independents the Mittbots are counting on will stick with Obama.

I can see a 40 state landslide win from my house.

Stupid Party….getting stupider by the minute.

angryed on February 3, 2012 at 10:07 AM

his economy will rebound and Willard will never be President.

Obama 2012

liberal4life on February 3, 2012 at 9:43 AM
When the troll’s right, the troll’ right.

angryed on February 3, 2012 at 10:06 AM

Yes, we’ve all seen the movie Dumb & Dumber!

KOOLAID2 on February 3, 2012 at 10:08 AM

Facts schmacts

All hail dear leader

Lsm is absolutely giddy

cmsinaz on February 3, 2012 at 10:08 AM

One last question were in Gods name are all of these people who have vanish from the work force?

logman1 on February 3, 2012 at 9:59 AM

Losing their homes and going on food stamps. Obamavilles.

dogsoldier on February 3, 2012 at 10:08 AM

I’m a woman.

Now, let’s get something straight.

First of all, I absolutely loathe you. That’s a hard thing to achieve.

Second, If I chose to take you out on a boat (unlikely), the best I’d do for you is to use you as chum.

Third: I’m black.

How ’bout that?

Key West Reader on February 3, 2012 at 10:06 AM

Why don’t you take it easy. This is an anonymous chat room for goodness sake. Your posts are way over the top.

ghostwriter on February 3, 2012 at 10:09 AM

Third: I’m black.

How ’bout that?

Key West Reader on February 3, 2012 at 10:06 AM

Aunt Tom?

angryed on February 3, 2012 at 10:09 AM

only a lib would say 8.3% is positive…brava!

DHChron on February 3, 2012 at 9:39 AM

That’s better than 8.5, or are conservatives not getting any better at math?

libfreeordie on February 3, 2012 at 9:44 AM

And yet it’s much, much worse than the 4.9% under our last President. Who has the trouble with math again, Sport?

ManWithNoParty on February 3, 2012 at 10:10 AM

Why don’t you take it easy. This is an anonymous chat room for goodness sake. Your posts are way over the top.

ghostwriter on February 3, 2012 at 10:09 AM

Meh. Let the woman vent.

angryed on February 3, 2012 at 10:11 AM

Another round of falling home prices in the last week and the predictable
bailout proposed.
Now unemployment is dropping. Sounds counter intuitive.
Did I miss something or am I just confused.

BullShooterAsInElk on February 3, 2012 at 10:11 AM

Really. That was completely gratuitous. That racist crap reflects poorly on all of us. Obama is a loser because he is a freedom-loathing socialist, and not for any other reason.

ghostwriter on February 3, 2012 at 9:56 AM

lighten up. The libs are afraid to talk race…not me. It may be a PC world, but I don’t have to play along.

DHChron on February 3, 2012 at 10:11 AM

Aunt Tom?

angryed on February 3, 2012 at 10:09 AM

tee hee

DHChron on February 3, 2012 at 10:12 AM

If PBHO does try to take our guns at least he has a ready market to resell them in Mexico.

Bishop on February 3, 2012 at 10:06 AM

Heh.

Try it, Buh-roch.

Triple dog double dare your black skinny azz. And your big azz white woman, too.

/Oh, she’s black? Well then cawl me a racisss

Stupid skinny half white guy don’t know what side he’s playing.

Key West Reader on February 3, 2012 at 10:12 AM

That’s better than 8.5, or are conservatives not getting any better at math?

libfreeordie on February 3, 2012 at 9:44 AM

Dude, again, you’re doing the exact same thing – but in reverse – of what you were doing 5 years ago. Your outrageously outraged by something you did a short time ago. Each side does this. And it’s so predictable. And boring.

angryed on February 3, 2012 at 10:13 AM

Excellent inclusion of the zerohedge post. I started reading this and thought “I need to link the ZH post in the comments.” But no need for that when Ed puts it in the update!

ZH is my go-to news site. It’s mainly market related news, but the markets are the best proxy/indicator for what’s actually going on in the world and ZH lays it out plainly. (And I’m not directly involved in the markets at all.) As much as I love HA, what some vapid talking head on Fox or MSNBC said about what Romney said about what Newt said 10 years ago is not news (or even interesting, for that matter) and it’s becoming more and more annoying to have to filter through so much petty crap to get to the HA gems.

jarden on February 3, 2012 at 10:13 AM

It will be at or below 7.8% by the election. No surprise as the administration will just tweak it and make it so

gatorboy on February 3, 2012 at 10:14 AM

Too much grasping at technical straws here. All that matters is that the public believes the economy is improving…just look at the surging consumer confidence numbers and Obama’s surging approval ratings. Republicans will be fortunate to keep the House. The White House and Senate are goners.

gumbyandpokey on February 3, 2012 at 10:14 AM

You’ll either lose, or I will die.

I’d love to fight you but will willingly die for Freedom.

Key West Reader on February 3, 2012 at 9:42 AM

Easy there, internet patriot! No one’s taking your freedumm, no one’s fighting and no one’s dying. RELAX!

KeninCT on February 3, 2012 at 10:15 AM

Are you out of your ever loving mind?

Why not tell the truth about unemployment? Do a little research
and the facts will scare you.

Amjean on February 3, 2012 at 10:15 AM

The bitterness from conservatives anytime any positive economic data is reported is sad to behold. Country first or something.

libfreeordie on February 3, 2012 at 9:36 AM

Except that you don’t believe in anything that resembles math, just pedantic narratives. But, because you’re a failure with numbers I’ll go ahead and lay it out the narrative AND numbers. Maybe your grip on reality will improve :

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.

So yes, according to liberal math UE does drop when people don’t find work but merely drop out of the labor pool altogether. Liberal talking points first or something. (see chart below)

With friends like you, who needs enemas.

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/01/People%20Not%20In%20Labor%20Force.jpg

DevilsPrinciple on February 3, 2012 at 10:16 AM

Why don’t you take it easy. This is an anonymous chat room for goodness sake. Your posts are way over the top.

ghostwriter on February 3, 2012 at 10:09 AM

Your CONCERN is duly noted.

Dunedainn on February 3, 2012 at 10:16 AM

So after we compensate for 100,000 per month addition to the labor pool from population growth, an addition of 143,000 jobs = .2 percent drop in unemployment??

So to get to 4% by next month, we would only have to find jobs for 2.86 million people? Oh plus the other 100,000 that would enter the labor pool from population growth. So we’re only 3 million jobs from statistically full employment?!

Obama is working on that one guy’s resume…who’s next?

Wait what? There are almost 13 million unemployed? Not according to my numbers…

Youngs98 on February 3, 2012 at 10:17 AM

Too much grasping at technical straws here. All that matters is that the public believes the economy is improving…just look at the surging consumer confidence numbers and Obama’s surging approval ratings. Republicans will be fortunate to keep the House. The White House and Senate are goners.

gumbyandpokey on February 3, 2012 at 10:14 AM

Yep.

angryed on February 3, 2012 at 10:17 AM

Viator on February 3, 2012 at 10:01 AM

I think SGS is overestimating the long-term discouraged workers some. The absolute highest I could get the unemployment rate (summing the officially unemployed, everybody who wants a job but is neither employed nor counted as unemployed – a number more than double the non-adjusted “marginally attached”, and the underemployed, and dividing that by that number plus the employed) yields a 16.2% “U-6+” rate. By the way, that is higher than any point prior to February 2009 and more than 3 percentage points higher than any time prior to Obama’s election in November 2008.

Steve Eggleston on February 3, 2012 at 10:17 AM

I haven’t had a chance to read all the comments, but this surely looks like a case of “Lying with Statistics” (in high school there was a book in the library with that title). By constantly reducing the denominator, Obama can get the unemployment down with fewer and fewer jobs added. And since students are becoming less proficient in math, the majority of Americans don’t have the right skills to understand how the administration is playing the system.

mathgal60 on February 3, 2012 at 10:17 AM

lighten up. The libs are afraid to talk race…not me. It may be a PC world, but I don’t have to play along.

DHChron on February 3, 2012 at 10:11 AM

What you did wasn’t talking about race. It was a stupid cheap shot at Obama’s race. With all of the things that you can use to hit Obama–his ignorance, his leftism, his incompetence, his ears, etc.–that racial crack was the best thing that you can come up with?

ghostwriter on February 3, 2012 at 10:17 AM

The reason the unemployment rate is dropping is because the government doesn’t count those who are no longer in the labor force. Those who aren’t looking for jobs, who have given up, etc.

That number is at a record high. good job, Obama.

When the overall pool is smaller, a small tick up in the jobs numbers is reflected by a smaller percentage of the total pool who don’t have them. If the pool is larger (ie, those 1.2 million not in the labor force are added), the unemployment rate doesn’t really move that much.

Good Lt on February 3, 2012 at 10:18 AM

Read this for the real story behind the numbers…

Employment Report: Blatant And Outrageous Lies

There are times when one questions a report as possibly being wrong or in error, and then there are times when one has to raise a flag and say “This is an intentionally false picture being presented by a government agency.”

voiceofreason on February 3, 2012 at 10:18 AM

Wait what? There are almost 13 million unemployed? Not according to my numbers…

Youngs98 on February 3, 2012 at 10:17 AM

ahhh numbers! They’re so great cause they are what you tell them to be.

DHChron on February 3, 2012 at 10:18 AM

Your CONCERN is duly noted.

Dunedainn on February 3, 2012 at 10:16 AM

Thanks for your input. However, I’m pretty sure that I wasn’t talking to you.

ghostwriter on February 3, 2012 at 10:19 AM

I give full credit where full credit is due, with regards to manipulating the unemployment rate, through the component known as labor participation.

Just who does the professional leftist garbage think they’re fooling on this board, by such blatant manipulation? Do they really think that the Hot Air crowd has the same economic IQ as, say, Good Morning America starring George Stephanopoulos?

MNHawk on February 3, 2012 at 10:20 AM

Obama gets the blame when the economy is down because he is the President..I agree with that.

He should also get credit when the economy is rebounding. You are hell-bent on Obama losing re-election to the point where you want to take way credit when it is due. This very sad.

it looks to me conservatives want America to fail for political gain

liberal4life on February 3, 2012 at 9:53 AM

I notice that you completely ignore the fact that 1.2 million people aren’t being counted in these numbers, you ignore that number like it doesn’t meant something. The depth of your delusion is staggering to say the least. Like I said before, if you hail these numbers are impressive, then you must think that Bush was some kind of economic genius for keeping his numbers so low. You mentioned before that you questioned the numbers under Bush… why are you not questioning them under Obama. Oh that’s right, you can’t quite bring yourself to look at the facts when your guy is in office.

Every time you post here you show everyone just how blindly partisan you really are.

ShadowsPawn on February 3, 2012 at 10:21 AM

Hey, if you can’t raise the numerator, lower the denominator.

John Deaux on February 3, 2012 at 10:21 AM

Obama–his ignorance, his leftism, his incompetence, his ears, etc.–that racial crack was the best thing that you can come up with?

ghostwriter on February 3, 2012 at 10:17 AM

It was the funniest thing. Stop going all lib on me ;) Discussing race isn’t “racism”. Stating someone is half black isn’t “racism”.

unless you’re a lib

DHChron on February 3, 2012 at 10:22 AM

Easy there, internet patriot! No one’s taking your freedumm, no one’s fighting and no one’s dying. RELAX!

KeninCT on February 3, 2012 at 10:15 AM

Screw you, Ken

Key West Reader on February 3, 2012 at 10:22 AM

I know you want America to fail so that your party can get some political capital. I would appreciate it if you admit your motives rather than spinning around the issue

liberal4life on February 3, 2012 at 10:03 AM

Remember from 2000-2008 when the average unemployment rate of between 5% and 6% was “The Worst Economy Since the Great Depression?”

I wonder what happened so that 8.3% is the Greatest Economy America Has Ever Known.

So you’ve got your work cut out for you – even if it drops that low (a good thing), it’s still the Worst Economy Since The Great Depression.

Those are the rules the Democrats wrote. We’re just holding you to them.

Good Lt on February 3, 2012 at 10:23 AM

You know, I have been thinking. I know that these numbers are supposed to be estimates, but now I really think that administration is just pulling numbers out of hat, just to get the unemployment numbers down.

I am hearing layoffs every where, including American Airlines and Microsoft, but I don’t see anywhere, where employers are hiring.

ConservativePartyNow on February 3, 2012 at 10:23 AM

it looks to me conservatives want America to fail for political gain

liberal4life on February 3, 2012 at 9:53 AM

I love you Mr. President! Give me a narrative and I’ll run with it…for serious!

DHChron on February 3, 2012 at 10:24 AM

It will be at or below 7.8% by the election. No surprise as the administration will just tweak it and make it so

gatorboy on February 3, 2012 at 10:14 AM

The libs think that 7.8 is some kind of magic number because Reagan managed to get re-elected with that level of unemployment. However, as usual they don’t get it. Reagan got re-elected because the economy was roaring, and everybody knew it–the 7.8-number was unimportant. That unemployment stat is just about only thing that Obama has in common with Reagan; the underlying fundamentals of the economy are too weak to sustain the job growth.

ghostwriter on February 3, 2012 at 10:24 AM

Key West Reader on February 3, 2012 at 10:01 AM

Key West, Kids were complaining about their dinner last night, so we took the opportunity to tell them about the Great Depression that their Grandparents lived thru. We are starting to prep them emotionally and physically for the times ahead.

Reality is setting in for me. I am glad you are still fighting, I hope I will come back but am feeling like resistance is futile.
(Seems to be their goal – both parties) The picture of Jeb and G Senior visiting with Obama in the oval office makes me think its time to get a tinfoil hat…lol

MontanaMmmm on February 3, 2012 at 10:24 AM

voiceofreason on February 3, 2012 at 10:18 AM

That’s 0.6% of the entire labor force that departed the working population in one month, three times the alleged drop in the unemployment rate. This means that internally, the numbers were even worse than they first appear!

Yes, full credit where full credit is due. Thanks for that link, voice. Every possible graph within easy reach.

MNHawk on February 3, 2012 at 10:25 AM

Mills, darling, Mills.

libfreeordie on February 3, 2012 at 10:01 AM

Mills? stumped me…I need the full name.

DHChron on February 3, 2012 at 10:27 AM

This is ridiculous. Where do you get the idea that you get to look down your nose at anybody after posting nonsense like this?

ghostwriter on February 3, 2012 at 10:05 AM

When someone has their head soooo far up it…they can’t look down their nose…they have to open their mouth, to see!

KOOLAID2 on February 3, 2012 at 10:27 AM

It was the funniest thing. Stop going all lib on me ;) Discussing race isn’t “racism”. Stating someone is half black isn’t “racism”.

unless you’re a lib

DHChron on February 3, 2012 at 10:22 AM

Whatever. I give up.

ghostwriter on February 3, 2012 at 10:27 AM

Steve Eggleston on February 3, 2012 at 10:17 AM

Screwed up the formula a bit (should not have included the economically-underemployed in the denominator twice). The “U-6+” is 17.0%, higher than any point before February 2009. Still a far cry from the SGS numbers.

Steve Eggleston on February 3, 2012 at 10:27 AM

MontanaMmmm on February 3, 2012 at 10:24 AM

Here is what I recommend:

:0X

Key West Reader on February 3, 2012 at 10:30 AM

Whatever. I give up.

ghostwriter on February 3, 2012 at 10:27 AM

now you’re learnin’ :) you weren’t gonna win that one. I’ll call myself racist thank you very much, but if you do it? That’s typical lib mudslinging. Might as well go hang at Kos.

DHChron on February 3, 2012 at 10:32 AM

Just wait for all the seasonal jobs to end and all the numbers to be revised downwards.

nazo311 on February 3, 2012 at 10:35 AM

voiceofreason on February 3, 2012 at 10:18 AM

Wow. that report is very glaring. I also think that obama is fudging the numbers.

ConservativePartyNow on February 3, 2012 at 10:36 AM

MontanaMmmm on February 3, 2012 at 10:24 AM
Here is what I recommend:

:0X

Key West Reader on February 3, 2012 at 10:30 AM

Thx, lots going aroung lately. I find that I’m hugging them longer and tighter everyday. I’ts hard to not let them see us so worried.

MontanaMmmm on February 3, 2012 at 10:37 AM

Here is an important fact: Despite a population increase…
People working in Jan. 2009 – 142,099,000
People working in Jan. 2012 – 141,637,000

I have been saying this for three years, but now the manipulation is so gross it cannot be overlooked or denied any longer.

The Zero cannot “hide the decline.”

dogsoldier on February 3, 2012 at 10:38 AM

We are starting to prep them emotionally and physically for the times ahead.

Reality is setting in for me. I am glad you are still fighting, I hope I will come back but am feeling like resistance is futile.
(Seems to be their goal – both parties) The picture of Jeb and G Senior visiting with Obama in the oval office makes me think its time to get a tinfoil hat…lol

MontanaMmmm on February 3, 2012 at 10:24 AM

Yep, now’s a good a time as any to go off the grid. Better get in the bunker before they start looking for you.

KeninCT on February 3, 2012 at 10:39 AM

Steve Eggleston on February 3, 2012 at 10:27 AM

Have you seen the Youngstown State University Study on defacto unemployment?

Just curious.

dogsoldier on February 3, 2012 at 10:39 AM

Heart ache, bad new, wrong trend for haters

residentblue on February 3, 2012 at 10:40 AM

The Zero cannot “hide the decline.”

dogsoldier on February 3, 2012 at 10:38 AM

I think you underestimate the Zero. With the slobbering MFM on his side and the willing ignorance of the masses? I’d say he’s gotta good shot. Mittens isn’t the one to advance a counter narrative.

DHChron on February 3, 2012 at 10:41 AM

Have you seen the Youngstown State University Study on defacto unemployment?

Just curious.

dogsoldier on February 3, 2012 at 10:39 AM

No I haven’t. Kindly point me in the right direction.

Steve Eggleston on February 3, 2012 at 10:43 AM

Screw you, Ken

Key West Reader on February 3, 2012 at 10:22 AM

Preach it, Sista!

annoyinglittletwerp on February 3, 2012 at 10:45 AM

Republicans want America to fail so that they can win the Presidency.

liberal4life on February 3, 2012 at 10:48 AM

Screw you, Ken

Key West Reader on February 3, 2012 at 10:22 AM

Preach it, Sista!

annoyinglittletwerp on February 3, 2012 at 10:45 AM

Wow, all of the nuts are out today. I guess that’s what GOOD news does to REAL America!

KeninCT on February 3, 2012 at 10:48 AM

Two words; Cooked Books. Three actually; Lie.

Bmore on February 3, 2012 at 10:49 AM

I just flushed my low flow toilet for the twentieth time this morning. How much water did I save? and wtf did I eat last night!

DHChron on February 3, 2012 at 10:50 AM

Have you seen the Youngstown State University Study on defacto unemployment?

Just curious.

dogsoldier on February 3, 2012 at 10:39 AM

Found it. Some of the additional math (govt. subsidies) is interesting, while others (counting the prison population and the military as “unemployed”) is rubbish.

Steve Eggleston on February 3, 2012 at 10:51 AM

Republicans want America to fail so that they can win the Presidency.

liberal4life on February 3, 2012 at 10:48 AM

from the Bamster’s mouth to the masses! Ever get tired of buying into the narrative? or do you do that consciously for fun…to piss off conservatives?

DHChron on February 3, 2012 at 10:52 AM

Unemployment rate is 23% when you do the calculations using methods which were previously standard for government unemployment figures. Changes starting with the Clinton administration have artificially lowered the unemployment rate for political purposes.

http://www.shadowstats.com/alternate_data/unemployment-charts

Christ, its like reading a mother jones post. You people are learning!

libfreeordie on February 3, 2012 at 10:52 AM

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!

No doubt we can expect 1.2 million or more to mysteriously vanish each month from now on. Add that to the 10 billion jobs “saved” and the Obama economy will be the best evah!

cicerone on February 3, 2012 at 10:52 AM

KeninCT on February 3, 2012 at 10:48 AM

I’m not a nut-I’m a twerp…and I’m just being supportive of a good conservative.

annoyinglittletwerp on February 3, 2012 at 10:54 AM

Christ, its like reading a mother jones post. You people are learning!

libfreeordie on February 3, 2012 at 10:52 AM

Mills libfree, Mills. I need the full name.

DHChron on February 3, 2012 at 10:55 AM

I know that REAL Americans are guided by slogans (Let’s Roll, Mission Accomplished etc) and images of flags and eagles (Fox News)but I thought that a look at actual unbiased NUMBERS might be of use.

S&P 500 when BHO took office = 806.
S&P 500 today = 1,342.
That’s a 67% increase.

Sorry to upset you.

KeninCT on February 3, 2012 at 10:55 AM

libfreeordie on February 3, 2012 at 10:52 AM

oh, that was lib4life…my bad.

DHChron on February 3, 2012 at 10:55 AM

Republicans want America to fail so that they can win the Presidency.

liberal4life on February 3, 2012 at 10:48 AM

Nope. Wrong again. We aren’t liberals: Rooting for America to fail to win the presidency is what liberals do.

ghostwriter on February 3, 2012 at 10:56 AM

from the Bamster’s mouth to the masses! Ever get tired of buying into the narrative? or do you do that consciously for fun…to piss off conservatives?

DHChron on February 3, 2012 at 10:52 AM

I gather that based on the comments I read here. folks here are rooting for America to fail. It very sad. That unemployment rate is dropping. Jobs are being added, what is not good to like about this?

liberal4life on February 3, 2012 at 10:57 AM

Add that to the 10 billion jobs “saved” and the Obama economy will be the best evah!

cicerone on February 3, 2012 at 10:52 AM

we truly are blessed to live in such prosperous times.

DHChron on February 3, 2012 at 10:57 AM

KeninCT on February 3, 2012 at 10:39 AM

Nah, we’re not off the grid do you think I’d be typing this right now if we were. Just getting used to having less.

Can’t remember the last time we had a good piece of steak…can’t afford it. People that go grocery shopping can see the inflation.

MontanaMmmm on February 3, 2012 at 10:58 AM

I gather that based on the comments I read here. folks here are rooting for America to fail. It very sad. That unemployment rate is dropping. Jobs are being added, what is not good to like about this?

liberal4life on February 3, 2012 at 10:57 AM

You haven’t gathered anything about population growth, employment participation or cooked books. Pretty impressive. You’re either willfully ignorant or you cain’t read!

DHChron on February 3, 2012 at 10:59 AM

S&P 500 when BHO took office = 806.
S&P 500 today = 1,342.
That’s a 67% increase.

Sorry to upset you.

KeninCT on February 3, 2012 at 10:55 AM

You’re right. We can’t deny it. The economy is awesome. Obama has a superduper record on which to run his re-election campaign.

ghostwriter on February 3, 2012 at 11:00 AM

So the epic January number of 141.6 million employed, which rose by 847K at the headline level: only about 10 % of that was full time jobs.

J_Crater on February 3, 2012 at 11:00 AM

Can’t remember the last time we had a good piece of steak…can’t afford it. People that go grocery shopping can see the inflation.

MontanaMmmm on February 3, 2012 at 10:58 AM

I know a guy on Food Stamps has steak all the time :(

DHChron on February 3, 2012 at 11:01 AM

I mean like…Napolean Dynomite. Steak ALL the time.

DHChron on February 3, 2012 at 11:02 AM

I gather that based on the comments I read here. folks here are rooting for America to fail. It very sad. That unemployment rate is dropping. Jobs are being added, what is not good to like about this?

liberal4life on February 3, 2012 at 10:57 AM

Yay! the economy rocks! Obama rocks! Yay!

ghostwriter on February 3, 2012 at 11:02 AM

Can’t remember the last time we had a good piece of steak…can’t afford it. People that go grocery shopping can see the inflation.

MontanaMmmm on February 3, 2012 at 10:58 AM

That’s sad, and I’m not being sarcastic. I wish I could help. Best of luck to you. Really.

KeninCT on February 3, 2012 at 11:03 AM

Yay! the economy rocks! Obama rocks! Yay!

ghostwriter on February 3, 2012 at 11:02 AM

darn tootin’!

DHChron on February 3, 2012 at 11:05 AM

That’s sad, and I’m not being sarcastic. I wish I could help. Best of luck to you. Really.

KeninCT on February 3, 2012 at 11:03 AM

Shove it, buddy. Really. Nobody needs your cheap sentiment.

ghostwriter on February 3, 2012 at 11:05 AM

What’s sad is manipulating employment rate statistics by dishonestly reducing the numerator to the equation in order to achieve a preordained number. Employing such deception merely to enhance one’s reelection prospects is never something to be proud about.

tommyboy on February 3, 2012 at 11:06 AM

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