The MSM doing their part to keep the recovery fantasy going. The Orwellian nature of all government reported data increases by the day. The story below reports the results of one survey while ignoring the results of the survey that actually calculates the unemployment rate.
Here is the link to the data I will reference:
http://www.bls.gov/web/empsit/cpseea03.htm
Here are the facts:
- The number of unemployed Americans jumped by 164,000 in December over November. This is during a month where there should be a lot of part-time hiring.
- The number of employed Americans actually went up by only 28,000.
- The number of unemployed Americans is higher today than it was in September.
- There are only 31,000 more Americans employed today than in September, even though the working age population went up by 578,000. MIRACULOUSLY, THE UNEMPLOYMENT RATE STAYED AT 7.8%!!!!!
- There are 1.7 million more people employed today than in January of last year. The working age population went up by 2.1 million people. But the unemployment rate fell from 8.3% to 7.8%. Only in Orwell’s 1984 world of newsspeak and doublethink would the unemployment rate go down. The BLS and your politician leaders want you to believe that 926,000 Americans chose to leave the labor force of their own free will and no longer want a job.
- The participation rate of 63.6% is still at 1983 levels.
The little MSM announcement says that retailers shed jobs in December. Considering our economy is 70% dependent upon consumer spending and December is when retailers normally hire extra employees, this little factoid should be a big warning. I also recall the MSM using hurricane Sandy as an excuse for every bad economic figure. I don’t see the MSM explaining the surge in construction jobs as just a temporary blip from Sandy repairs and rebuilding. Shocking!!!
The true unemployment rate is 23% as shown by John Williams.
Administrator says:
155,000 Jobs Added in December, Unemployment Rate 7.8%
Submitted by Tyler Durden on 01/04/2013 08:33 -0500
A surprisingly uneventful report, as BLS reports that 155,000 Jobs were added in December, right on top of the 156,000 expected, and in line with the number needed to keep up with the growth in the population, or at least the Old Normal growth. The unemployment rate was 7.8%, vs the 7.7% expected: who else is surprised that the rate is now rising with Obama reelected and when a lower unemployment rate means an earlier end to QE4EVA? The November unemployment rate was revised from 7.7% to 7.8%, just so headlines can proclaim the rate was unchanged, even though it was fractions away from a 7.9% print, compared to November initial 7.7%. According to the Household survey a materially less, or 28,000 jobs were added even as the number of unemployed rose by 164K. Average hourly earnings for all employees rose 0.3% in December from November, compared to the 0.2% expected. The confusion continues as the BLS reports retail jobs were mysteriously down by 19,000 even as every retailer announced it was hiring the kitchen sink, while manufacturing jobs supposedly rose by 25,000 while the ADP report reported 6 months of reductions in a row. Construction jobs increased by 30,000. The Underemployment rate, U-6, remains steady at 14.5%. ADP, which will certainly be revised lower now, remains a farce.
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4th January 2013 at 9:22 am
Administrator says:
Market Ticker ® Commentary on The Capital Markets Posted 2013-01-04 08:54
by Karl Denninger
Bureau Of Lies and Scams: +155k Employment
From our favorite dissemblers:
Nonfarm payroll employment rose by 155,000 in December, and the unemployment rate was unchanged at 7.8 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in health care, food services and drinking places, construction, and manufacturing.
Drinking places eh? Makes perfect sense to me
Internally the workweek was up a tenth and the average hourly wage up 7 cents, which is not all that awful.
Now let’s look at the household, unadjusted data, which is what I use for my tables.
And here we got big problems.
The employed count went from 143,549 (thousands) to 143,060, a decrease of 489,000 actual employed people.
At the same time the number of people “not in labor force” (those who gave up) went from 89,221 (thousands) to 89,445, an increase of 224,000.
The population of working-age people, however, went from 244,174 (thousands) to 244,350, an increase of 176,000.
So add the increase in the workforce to the decrease in employed people and you get 665,000 fewer people working, more than a half-million, adjusted for population change.
As a reminder when this chart is below the zero line we’re losing on the number of people with jobs compared to those who are of working age. That is, we’re losing our tax base upon which the nation’s ability to fund its government rests.
And all of this, if I’m right in how I’m reading it, should show up in the employment rate of the population, which I warned last month may have cycle-peaked and be headed back down.
I was: The employment rate ticked down three tenths to 58.5% (following last month’s two tick decline), and that confirms what I suspected when I looked at the raw data up front:
This report sucked.
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4th January 2013 at 9:26 am
Eddie says:
La-la-la-la-la-la. Everything is wonderful…..NOT!
I don’t watch TV, but the spin, even in the newspapers, is appalilng. Thanks for generating some numbers we can trust, even if the news is bad.
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4th January 2013 at 9:45 am
AWD says:
The usual bullshit. The new Obamacare taxes are kicking in as we speak, and those that didn’t lay off workers or cut their hours will now do so instead of paying tens of thousands in new taxes.
The fiscal cliff deal screwed the average American while continuing TBTF and corporate tax breaks. The average joe will have $1-2k less to spend, which will lower GDP by 1%. Unemployment will break bad for years to come. When (not if) the government gets around to austerity, unemployment will rise to 20% or more.
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4th January 2013 at 9:57 am
bluestem says:
The crap coming out of DC is only going to get worse before it gets better, if it does get better. I am becoming more doubtful and am concerned for our country. John
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4th January 2013 at 10:02 am
sangell says:
They can add a million jobs per month but if earnings are DOWN we are going down hill. When government revenues start going up we can say the recovery has begun.
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4th January 2013 at 10:05 am
Administrator says:
Where The Jobs Are: “55 And Older”
Submitted by Tyler Durden on 01/04/2013 09:49 -0500
A good jobs report? Sure, if one is 55 and over. In December the American jobs gerontocracy continued its relentless course, and as the two charts below summarize since Obama’s first term, some 2.7 million jobs in the 16-55 year old category have been lost. The “offset”: 4 million jobs for Americans between 55 and 69. For all those young people graduating from college (with $150,000 in student loans) who are unable to get a job, here is our advice: tell your parents, and grandparents, to retire already. Oh wait, they can’t because Bernanke destroyed their savings. Oops – better luck next time.
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4th January 2013 at 10:06 am
beast rudolfo says:
maybe 926,000 boomer Americans died.
b.r.
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4th January 2013 at 10:59 am
a cruel accountant says:
It is cheaper to hire someone on medicare.
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4th January 2013 at 11:42 am
Concerned Millenial says:
You should see Twitter and facebook. All of the Obama lovers are basking in their glory over the BLS new report. It’s sad, to say the least.
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4th January 2013 at 12:21 pm
Micro-Be says:
Probably many of you know, but from my experience most of the positions are either senior positions and management or require 2-5 years of specific experience. I’ve already completed one internship. Many people are doing 4-5 internships and still not having luck. Then you have to consider that a good number of job postings are probably false. It seems that announcing positions for hire is a great way to data mine. The only people I know that are getting jobs are the ones that are networked with people already well established within a company or industry. Most people don’t know someone working within their field when they first start out. It’s rough out there.
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4th January 2013 at 12:30 pm
Thinker says:
And I know 5 people who have been laid off in the past week. Companies are paring down, with the reality that sales and orders are falling and aren’t coming back any time soon. My data projects unemployment surging in January, although I’m sure the government and media will spin it as weather-related or some such bullshit.
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4th January 2013 at 1:39 pm
AWD says:
This is the kind of dipshit parasite public servant we have working for us. The working person got fucked in the ass by the fiscal cliff agreement, and millions of people got another paid year off via unemployment “benefits” courtesy of Santa Obama. Watch the video from the link to gauge for yourself the intelligence of liberal socialists fucktard/libtards:
Hilda Solis: Paying People Not To Work Saved Millions Of Jobs
Secretary of Labor Hilda Solis made her ubiquitous post-NFP appearance on CNBC this morning and spouted the usual propaganda. However, while discussing how wonderful the ATRA was, the seemingly slap-happy Solis noted how great the fact that emergency unemployment benefits were extended for millions of people was – and that thanks to that (and the magic of the Keynesian multiplier), millions of jobs were saved. So, to sum up, paying people not to work, saved millions and millions of jobs? Indeed America, indeed.
http://www.zerohedge.com/news/2013-01-04/hilda-solis-paying-people-not-work-saved-millions-jobs
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4th January 2013 at 1:51 pm
Thinker says:
And some sources are starting to wake up and take notice: http://www.businessinsider.com/pct-job-losses-in-post-wwii-recessions-2013-1#ixzz2H1UeEcJN
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4th January 2013 at 2:21 pm
Llpoh says:
No surprise that over 55s get hired in preference to the young. Why? They come to work. I would sooner hire an old geezer using a walker than a dumbfuck tattooed thumb-ring wearing igizmo addicted kid who cannot do anything meaningful in the real world.
Not my job to pay for teaching those kids how to do stuff. It is their parent’s job, and they failed miserably. Tough titty to them.
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4th January 2013 at 5:14 pm
Llpoh says:
BTW – just as all boomers are not leeches on the ass of mankind, neither are all young folk. However, I am in the business of making money. Years of experience has proven to me that I do much better betting on older folks than on younger. It is a game of craps – older folks are 7s and younger folks are threes. I make a lot more money betting a 7 will turn up than a 3.
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4th January 2013 at 5:41 pm
Llpoh says:
People that thumb truth just because they do not like the truth are fucking morons. No wonder the world is going to shit.
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4th January 2013 at 5:42 pm
Llpoh says:
“Thumb down truth”
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4th January 2013 at 5:43 pm
Llpoh says:
All you fucking knitwits that think that young folk are good bets as employees should go out and hire one with your own money. People using their own money tend to avoid them like the plague. Anyone that thinks that employers – especially small business employers – should piss their money away buy hiring young folk are just plain stupid. It will not happen, and lo and behold, it is not happening. Their is truth in the numbers. And the truth is that the young make bad employees. Sorry about that – not my fault.
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4th January 2013 at 5:48 pm
ecliptix543 says:
Hurry up and croak, will ya?
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4th January 2013 at 6:06 pm
Llpoh says:
I am gonna live to 110. Out of spite if nothing else.
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4th January 2013 at 6:10 pm
Llpoh says:
Seems like all the small business folk are still at work so only the unemployed lazy ass young folk are around at the moment. Thumbs up will happen when the hard working old folks start showing up.
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4th January 2013 at 6:13 pm
ThePessimisticChemist says:
@LLPOH – Everybody affected by the SS tax increase at my company received an email from our CFO explaining what was happening, and why. He said complaints would be accepted in written form only, and submitted do your Congressman because this was out of his hands.
I went to his office and we had a 45min bitch fest about the state of the company over coffee.
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4th January 2013 at 6:32 pm
ThePessimisticChemist says:
State of the economy…not company.
Back to back posts with fucking massive mistakes. I think I need to unplug my brain this weekend….
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4th January 2013 at 6:33 pm
Llpoh says:
TPC – I suspect you are right – businesses will be blamed for the SS increase as many sheeple will be clueless about what is going on. At least he is listening to you.
What the Obama supporters are blissfully unaware of is that it is a spending problem, and the govt will keep grabbing money with both hands from working stiffs as they are not going to address the spending issue.
I disagree with regard to written complaints only. Anyone in my company can come see me at any time and complain about anything. They may not like the response, but they are welcome to air their grievances. The door is always open to them. What I find is that they do not abuse the policy. By requiring it in writing he is effectively putting up road blocks.
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4th January 2013 at 6:40 pm
ThePessimisticChemist says:
@LLPOH – Mostly he was being a smartass, stating that this was way over his head.
I work for a small company and like most (at least all I have worked for) we all have little time for petty bureaucratic nonsense, all of the officers/directors have open door policies.
Sorry for the confusion.
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4th January 2013 at 6:49 pm
AWD says:
One of Lipoh’s employees:
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4th January 2013 at 7:34 pm
Llpoh says:
AWD – my employees love me. Each and every one.
I see the small business folk have begun to arrive home. Welcome to the producers of the world! Welcome!
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4th January 2013 at 7:43 pm
Scott says:
Admin
Good article, That’s why I don’t watch or listen to the MSM any more. I get all my news and Info from the internet. TBP being one of the first sites I look at every evening. And I gave Llpoh a thumb’s up on all 8 of his comment’s. Being middle aged my self, everything said made sense to me. I see and experience those same things firsthand everyday in my line of work. It pains me to see my country everyday slowly sliding into the abyss!
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4th January 2013 at 7:51 pm
underfire says:
Llpoh says:
No surprise that over 55s get hired in preference to the young. Why? They come to work.”
Completely agree. Maybe I should restate that. For me, the only ones that show up wanting a job are the 55+.
Of course the young grow up with the goal of “getting out of this place.” This place being rural America where jobs often entail dirty fingernails, and the nearest McDonalds an hour drive away.
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4th January 2013 at 7:55 pm
Llpoh says:
Underfire – amazing how folks like us see the truth!
The attitude of employees is very much different from those of employers. Employees want employers to bear the cost of everything, while employers want employees that make them money. And employers hire those that fit that bill. Young folks do not generally meet the requirement. And those that do tend to leave after a year or two, making it difficult to recover training and recruitment costs. How unfair of us evil employers to want to make a profit.
Young folks need a severe attitude adjustment overall. It will be a painful adjustment. But it is coming.
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4th January 2013 at 8:30 pm
Administrator says:
Llpoh
I’ve experienced both types of young workers. I’ve had 20 something financial analysts who are smart, driven and never call in sick. They take classes after work and do excellent work on a consistent basis. It’s a pleasure having them as employees.
I also have a print shop that reports to me. We have nothing but problems with the 20 something workers. One played the disability card to the maximum for months before we fired his ass. He had the dreaded migraine headache disability. He got them every Monday during football season. We have others who are consistently late for work or call in sick one hour before they are due at work. They are lazy and not driven to succeed.
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4th January 2013 at 8:33 pm
Llpoh says:
Admin- unfortunately, I do not need too many financial analysts, so I only see the latter group.
One thing I have taken to doing when interviewing young people for jobs is stressing we do not allow mobile phones to be carried or used at work, and watching their reaction. Their jaws drop in disbelief and horror.
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4th January 2013 at 8:36 pm
TPC says:
It’s difficult for me to ever relate to llpoh’s posts, my field is just too damned different.
You’d love our plant manager though.
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4th January 2013 at 9:13 pm
underfire says:
TPC says:
It’s difficult for me to ever relate to llpoh’s posts”
I hear exactly what he’s saying. I’m at polar opposites to lipoh, the most employees I’ll have is maybe 6 or 8 in my ag and cattle operation, but I’ve been ” the boss” for 40 years. People from the outside looking in at a small business have a completely backwards view of what it is really like. This is a big part of why such a overwhelmingly high percentage of new businesses historically fail.
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4th January 2013 at 1:00 am
Llpoh says:
Underfire – good luck going forward. That six or eight you have can provide a lifetime’s worth of headaches.
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4th January 2013 at 1:03 am
card802 says:
I call it the Barney factor.
Too many parents raised their children in front of the boob tube watching a purple dinosaur slowly indoctrinate them that their decisions or choice’s in life do not have consequence. No matter what you do, you will never be a failure because I love you and you love me….
And the talk show media today?
Never had the responsibility of running a business, making a payroll, paying suppliers, paying all those taxes, swimming through the sea of regulations, trying to plan in an uncertain future of new taxes, higher taxes, obamacare and putting up with fucking Barney employee’s.
But when a caller calls to talk about the greedy businessman, the talk show host is an expert on all the is wrong with the businessman.
The Free Shit Army continues to grow and I don’t think there is a damn thing we can do about it but starve it.
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4th January 2013 at 7:56 am