Breaking - unemployment is now below 10% - 9.7%

[malaise]

from CSpan 1

http://content.usatoday.com/communities/theoval/post/2010/02/obama-gets-good-news-jobless-rate-down-to-97-percent/1
<snip>
Some good economic news for Obama: The unemployment rate has dropped to 9.7 percent, no longer in double digits.

Last month's number was 10 percent.

Obama is expected to address the jobs issue today when he meets with a group of small business owners in Lanham, Maryland.
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[Mari333]

1. not in michigannnn

[ixion]

7. nor in Florida

it's about 12% here...

[liberal N proud]

2. Heard a talking head on ABC this AM say that is was going to stay at 10% or higher

January unemployment rate dips to 9.7%

The jobless rate drops unexpectedly from 10 percent while employers shed 20,000 jobs.

The Labor Department says the rate dropped because a survey of households found the number of employed Americans rose by 541,000. The job losses are calculated from a separate survey of employers.

More soon at: http://www.latimes.com/

[malaise]

12. You should only be worried when a talking head

gets it right. :D

[babylonsister]

3. Did you hear erin burnett hang the negative spin on this?

:puke:

[malaise]

6. No but I'm hardly surprised

:hi:

[HughBeaumont]

8. Fascism can be beautiful too!

Goldman-Sachs alum and free trader. Spokesperson for the corporate politburo. Piece of executive boot-shiner garbage, just like 85% of the people anchoring for that odious network (CNBC). I occasionally un-mute it to catch some smiling corporate/outsourcing defense. When my threshold has been reached, BACK it goes.

[DCBob]

14. She's cute but evil..

:)

[Political Heretic]

4. not in Oregon :(

but good news

[Mari333]

10. Lots of people getting jobs working the french fry lines

I know plenty of young people with college degrees flipping the proverbial burgers as we speak.

[DCBob]

5. The failmonger GOPers will say it should be below 6%.

Regardless its good news!

[malaise]

9. CSpan discussing this now n/t

[Kingofalldems]

11. Traitorous freepers will not like this one

[AllentownJake]

15. It's propaganda none the less

They took out people from the labor force to arrive at the number. The report itself says payrolls shrunk in January.

[NNN0LHI]

20. I thought you had a big long ass thread where you said you were leaving here for a while?

Just couldn't help yourself could ya?

It must be like a reflex.

:rofl:

Don

[AllentownJake]

22. I've been gone for almost 2 months

Don't worry, I'll be going back after today. Actually I'll be going back to where I normally post after 11am this morning. I have to go to the State Democratic Party convention today.

The last two days, made me want to see some old friends, and people who absolutely hate me.

:hi:

[laughingliberal]

41. Huh?? Reflex??? After all this time?? Would you suggest really slow reflexes??

Quite a few I saw post they were right around that same time who've been back a while. It's funny I haven't seen you posting about their reflexes.
:rofl:

[AllentownJake]

13. They played with the numbers

The report itself says that payrolls did not increase...they just added more discouraged workers to get the number to go down.

There are a few small bright spots in the report, overall, it's a steaming pile of shit.

[Political Heretic]

19. Yep I just discovered that too.

Sigh... I'm going to bed before I try to read any more of the details.

[MadHound]

16. Funny how that number works, 9.7 unemployed,

Yet we lost another 20,000 jobs last month. Let me guess, they're cooking the books by moving the numbers into the "discouraged worker" category, which they don't count.

[AllentownJake]

21. Ding Ding Ding

We lost more than 20,000 jobs as well.

[MadHound]

23. Hey there, good to see you back again.

Hope you had a nice break.

[AllentownJake]

24. I won't be around for long

Just thought I'd pipe in yesterday and today.

I was guessing they were going to cook the books on this report at the beginning of the week. The administration has no problem creating good news when it needs it.

[NNN0LHI]

25. Yea, President Obama put a bunch of Muslin terra-ists in charge of the Bureau Of Labor Statistics

http://www.bls.gov/cps/cps_htgm.htm

:silly:

[AllentownJake]

26. They played with the numbers

Don,

Why don't you read the report and tell me what the good news is in it and not the shiny U3 numbers.

[NYC_SKP]

27. Have they not always played with the numbers? Didn't Bush play with the numbers?

I suspect the numbers are played with, and always have been.

But lets not play apples against oranges, if there's the played with numbers and the real numbers, the point is still the same:

Some progress, reduction in the number, fudged as it may be.

[AllentownJake]

31. Democracy only works

When people have an informed position to make decisions. Barack Obama's administration continuing to shape government reports to fit their reality, instead of actual reality, is a disappointment to say the least, and like his predecessor, the truth is in plain site for the investor class.

[Statistical]

37. No the amount of the fudge is greater than the progress.

"Unemployment U3" fell by 0.3% from peak which equals = 450,000 people however to accomplish that stat the labor force was shrunk by 3 million people.

So to make it look like unemployment is half a million people less bad they had to remove 3 million unemployed from the workforce.

When the amount of the fudge is greater than the net gain that means the real numbers got worse not better.

[NYC_SKP]

42. Thanks, Statistical.

I always trust your numbers, and the interpretations thereof.

:donut:

[Statistical]

45. Generally I defend U3 numbers but this one is brazen.

I mean I might be wrong but I just don't honestly believe a net 3 million people left the workforce in last year.

If they didn't then that manipulation dwarfs the improved employment numbers of 500K.

Then again maybe I am wrong and a net 3 million people DID leave the workforce (died, retired, went to prison, became disabled, etc) I just think it is very "lucky" for the administration that it happened because it reduced unemployment by about 1.8%.

[NNN0LHI]

48. Besides the died, retired, went to prison, a lot of people are working under the table too

Happens during every recession. Very common. Lot of times people end up making more that way than they did with a real job.

I am sure this is part of it.

Don

[MadHound]

28. Funny, you know you were one of the ones who were, rightfully, claiming cooked books under Bush

Yet when it is plain as the nose on your face that they're doing the same under Obama, you stick your head in the sand and enter a state of denial.

Get this, the government, whether it's been Democratic or Republican, has been cooking the books on unemployment since the days of Reagan. It has been standard practice to move people into that "discouraged workers" category in order to make the U3 number look better. It has also been standard practice to use those fatally flawed methods of doing the household count, which we all know are horribly inaccurate.

So tell me, how do the numbers of unemployed people go up by 20,000 while somehow, miraculously the percentage figure goes down.

If you believe these figures I've got a bridge I want to sell you.

[NNN0LHI]

39. That was before TahtiNut enlightened me how the system worked

I was ignorant about the workings of the Bureau Of Labor Statistics before that. I remember the thread well. After that my opinion changed.

Hell, I learn something new around here every day.

Don

[SpiralHawk]

43. To be fair, that is a Bush-Republicon strategery

The Republicons are the clowns who thought up the discouraged workers ruse -- so they will just be their usual hypocritical selves if they start whining about it now.

[MadHound]

47. Actually doctoring the unemployment figures started under Reagan

And it has continued ever since. Bush I, Clinton, Bush II, and now Obama have all cooked the books on unemployment numbers, every single one.

[madmom]

My son has had 3 different interviews this past week after months of nothing. One even said

they were expanding and expecting to hire about 150 by the end of summer. Fingers crossed here:woohoo:

[Dappleganger]

38. Best of luck to your son! nt

[Vinnie From Indy]

17. bullshit!

I do not believe that for a second.

The unemployment numbers put out simply ignore a vast pool of labor that has been without jobs for a long time.

[spanone]

18. but chuck chode says there's still bad news.....

[Ganja Ninja]

29. That just means fewer people are eligible for unemployment.

They still haven't found jobs let alone long term, steady, well paying jobs.

[quiller4]

49. No--that isn't what the numbers mean. That isn't how the stats are computed

[deacon]

30. Or 30% under GOP leadership. Democrats always have to clean up their disasters.

Thats damn good for one year.

[galileoreloaded]

32. No, no it's not. Actually, there was an almost 1% increase in NSA U-3 from Dec.

An acceleration, not a slowing.

Better luck next month!!

[Statistical]

33. So $20K more jobs loss yet UE falls 0.3% = 450K people. BS

Unless a lot of working age people died, went to Prison, or simply vanished I am calling BS.
Someone is gaming the numbers to say YAY unemployment in the 9% range.


On edit: on antoher thread someone showed where the game is being played. The "workforce" = people willing and able to work has "shrunk" by 3 million people from 153 million to 150 million.

If you calculate the number employed and apply that to larger more realistic size of workforce then U3 is 11.5%.

The administration is essentially hiding 3 million undesirables because 11.5% unemployment would look bad.

No way 3 million people just suddenly become unwilling or unable to work. Work force participation is relatively steady at 66% until recently.

[AllentownJake]

36. The chocolate ration increased from 20 grams to 15 grams this month.

[rucky]

34. Wait a month for the adjustment. n/t

[madrchsod]

35. a few people were hired around here but....

there`s still around 6,000 still unemployed

[hobbit709]

40. "Figures don't lie, but liars can figure"

"There's lies, damned lies and statistics"

[CBR]

44. I am sure this is awful news somehow. Everything is. nt

[branders seine]

46. and you can believe them this time!

Really!