Topic: Labor Force Participation

[michelleo]

I don't watch leftie news channels, but apparently there's much rejoicing this morning about a lowered unemployment number today.  Unemployment rate is down to 8.6%.

But labor force participation is also down, and its now at 64%.  So to get a sense of context, I went out to the BLS website and this is what I found:



Since Obama was elected, the percentage of Americans actually employed has gone down from 66% to 64%, and continues to trend downward.  With debt exponentially rising, and employment falling, is there any hope for an economic turnaround?  I can't see how it's possible.

[Pandora]

Heard:  Duh Wun extols his focus on jobs, jobs, jobs; seems his focus and intent was to destroy every one he could "get his hands on".

[Libertas]

It's all about the destruction...

...sure wish our side (do we have a side?) would fight fire with overwhelming firepower...

 

[Damn_Lucky]

Only in Obamaland could you lose 400,000 jobs and gain 120,000 jobs and still lower the unemployment rate.

[Libertas]

This is the save & create crowd, ya know?  Too bad all they know how to do is to save bullsh*t and create misery...

[warpmine]

Congratulations, we've made it. America is Europe

[charlesoakwood]

It's all about the destruction...

...sure wish our side (do we have a side?) would fight fire with overwhelming firepower...

 

Yeah, we have a side.  The problem is
too many of them haven't been elected yet.

[Sectionhand]

Stymie reduces the unemployment figure by declaring a centain percentage of them "not there anymore" . Very convenient !

[warpmine]

UNemployment rate goes down due primarily to attrition which is the reason the rate came down from 10% U-3 rates to begin with. Once again the metric has changed similar to jobs created or saved or the metrics that calculate inflation rates. Food nor fuel is taken into account. Not related is the amount of weather stations went fron over 6000 to 1500 and those are near concrete structures or in and around cities. Little wonder why their average temps have gone up

[Pandora]

Expanded upon and expounded at American Thinker:  O's Legacy: Unemployment Rate Now Meaningless

A segment ....

Among those they have not fooled, of course, is de facto Tea Party father Rick Santelli of CNBC.  "I don't trust [these numbers]," said Santelli Friday on Squawk Box at the very moment the figures were released.  "I want to see the labor force participation rate because personally I don't trust the U3 rate...and when you throw in the politics of the day -- because this is such a big number that resonates with the public -- there's a lot of movement in these numbers that can alter the rate significantly."

Santelli's initial instincts, of course, were right on the money.  The participation rate had been jiggered to make Obama look good.  Or, since it's 8.6, make him look less bad.  And yes, "the politics of the day," as Santelli said, is the entire reason.

Even Santelli's regular antagonist on CNBC, liberal economist Steve Liesman, admitted that this was the case -- albeit in gentler terms: "The workforce declined by 315 thousand and that makes it easier to get to the lower unemployment rate."  Uh, ya think?  Now, just where the hell did those 315 thousand people go?  They have given up hope, so the administration is just pretending that they aren't there anymore.

Actually, it's worse than that.  A closer look at the figures shows that some 435 thousand non-working adults have been statistically vaporized, while the newly employed 125 thousand folks are counted, equaling the net loss of adult workers of over 300 thousand.

Translation: the administration lied to us to make itself look good.  That big Obama supporter Steve Liesman is admitting this on an NBC network is significant.

Which is why I believe this cooking of the books may be reaching a critical mass of ineffectiveness.  Taking the work of Pethokoukis into account, the workforce is now officially only 64% of all adults -- which means that something on the order of only 55% of adults are now working.  (This should be the permanent metric, and not some esoteric U3 number, anyway, but that's another article).  This is not sustainable or healthy.

And while most folks don't realize that only 55% of adults are working, they know something is wrong.  And they know a lot of those other 45%.  And many are obviously in that 45%, and they know that many are not legitimately retired or legitimately disabled.

[Libertas]

I'd like to buy fully into the inefectiveness sentiment, but everytime I do it fails to materialize when it matters most.  There are an awful lot of stupid people in this country, which is the only way leftists obtain power.  Get this CNBC clown to also admit that if unempoyment benefits are extended the rate jumps back up that would be good.  Get this chump to further recognize this is why Obama secretly hopes congress stalls on an extension going into an election year and I'll say this asshat is at least an honest asshat!

[charlesoakwood]

Rick Santelli 

[Libertas]

Rick Santelli  

One of the lone voices in the wilderness...
Could use more Santelli's, Barnhardt's, Schiff's...that's for sure!