Another Record for Obamanomics

And like all such records, it’s not one that’s doing the nation a damn bit of good.

 

Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low

By Tyler Durden | ZeroHedge

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! 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. As for the quality of jobs, as withholding taxes roll over Year over year, it can only mean that the US is replacing high paying FIRE jobs with low paying construction and manufacturing. So much for the improvement.

Chart below shows it all – that jump is not a fat finger!

 

Impressive in all the wrong ways.

All that stands between the United States and a real recovery with expanding employment is Barrack Obama and the Democratic Senate.  We really should fix that.

Admission: Journalists are Liberals Not Interested in Facts and Truth
Komen CEO defends decision to defund Planned Parenthood (UPDATED)
  • jim_m

    You need to resize your chart

  • jim_m

    Unexpectedly!!

  • http://pulse.yahoo.com/_R7FMXY3DZP7JF7SGSPIOSLLXNE Stephen

    Duck, conservatives – here come some facts. Time to switch over and watch Fox News…or else you might join the reality based crowd and know what the f you’re talking about– can’t have that – you won’t fit in anymore.

    Incoming… you’ve been warned!

    http://www.barackobama.com/postcard?source=jobs

    • jim_m

      Here you go Stevie, We will all be awaiting your answers to the following:

      If the economy is getting better, then why did new home sales in the United States hit a brand new all-time record low during 2011?
      If the economy is getting better, then why are there 6 million less jobs in America today than there were before the recession started?
      If the economy is getting better, then why is the average duration of unemployment in this country close to an all-time record high?
      If the economy is getting better, then why has the number of homeless female veterans more than doubled?
      If the economy is getting better, then why has the number of Americans on food stamps increased by 3 million since this time last year and by more than 14 million since Barack Obama entered the White House?
      If the economy is getting better, then why has the number of children living in poverty in America risen for four years in a row?
      If the economy is getting better, then why is the percentage of Americans living in “extreme poverty” at an all-time high?
      If the economy is getting better, then why is the Federal Housing Administration on the verge of a financial collapse?
      If the economy is getting better, then why do only 23 percent of American companies plan to hire more employees in 2012?
      If the economy is getting better, then why has the number of self-employed Americans fallen by more than 2 million since 2006?
      If the economy is getting better, then why did an all-time record low percentage of U.S. teens have a job last summer?
      If the economy is getting better, then why does median household income keep declining?  Overall, median household income in the United States has declined by a total of 6.8% since December 2007 once you account for inflation.
      If the economy is getting better, then why has the number of Americans living below the poverty line increased by 10 million since 2006?
      If the economy is getting better, then why is the average age of a vehicle in America now sitting at an all-time high?
      If the economy is getting better, then why are 18 percent of all homes in the state of Florida currently sitting vacant?
      If the economy is getting better, then why are 19 percent of all American men between the ages of 25 and 34 living with their parents?
      If the economy is getting better, then why does the number of “long-term unemployed workers” stay so high?  When Barack Obama first took office, the number of “long-term unemployed workers” in the United States was approximately 2.6 million.  Today, that number is sitting at 5.6 million.

      http://theeconomiccollapseblog.com/archives/if-the-economy-is-improving

      Click the link for the questions and links to supporting data (hat tip to Instapundit).  Waiting…..

      • http://pulse.yahoo.com/_R7FMXY3DZP7JF7SGSPIOSLLXNE Stephen

         Are you still waiting, Jim?

      • Gmacr1

        Let me beat fuvktard to it:

        “Its Bush’s faut!”

        I denounce myself.

        • http://pulse.yahoo.com/_R7FMXY3DZP7JF7SGSPIOSLLXNE Stephen

           Does this mean you’re not waiting anymore?

          • Gmacr1

            You are predictable.

          • http://pulse.yahoo.com/_R7FMXY3DZP7JF7SGSPIOSLLXNE Stephen

             You’re still waiting, right? Jim? You too, right?

          • Gmacr1

            For you? Seriously, who the hell do you think you’re kidding?

      • Gmacr1

        Just because our new resident Village ID10T is slavishly slobbering on his knee’s while doing the handwave of futility here’s another interesting FACT he can’t dispute as seen here: http://tinyurl.com/7az29ge

        It appears the record surge in people not in the labor force is not the only outlier in today’s data. For the other one we go to the Household Data Survey (Table 9), and specifically the breakdown between Full Time and Part Time Workers (defined as those “who usually work less than 35 hours per week”). We won’t spend too much time on it, as it is self-explanatory. In January, the number of Part Time workers rose by 699K, the most ever, from 27,040K to 27,739K, the third highest number in the history of this series. How about Full time jobs? They went from 113,765 to 113,845. An 80K increase. 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: surely an indicator of the resurgent US economy… in which employers can’t even afford to give their workers full time employee benefits. We can’t wait for Mr. Liesman to explain how this number, too, is unadulterated hogwash, and how it too is explained away to confirm economic strength. Incidentally this is not the first time we have discussed the issue of part vs full time workers: for more see here: “Charting America’s Transformation To A Part-Time Worker Society, Following 6 Straight Months Of Full Time Job Declines”

        Steven? Facts trump talking points you got from a fax or where ever you were told to go to get them. My advice? Go get a few tabs of Thorazine and kick back. It’s going to be rough for you all the way through November when your world ends.

    • jim_m

      Not to put too fine a point on it but job creation is only half the battle.  When jobs lost exceeds jobs created you have increasing unemployment. Our current unemployment rates are artificially kept low by the BLS declaring that ever increasing numbers of workers have given up finding employment and these individuals are removed from the labor statistics.

      We have the lowest labor participation rates in 30 years and you call it a great economy.

      • http://pulse.yahoo.com/_R7FMXY3DZP7JF7SGSPIOSLLXNE Stephen

        Really JIm, or are you bullshitting again.

        Sow me where I said it’s a great economy?

        Oh you can’t… because you’re lying again.

        We’re waiting jim.

        • jim_m

          It seemed to be implied in your earlier response.  You claim that obama is creating jobs when the truth is that the labor force has shrunk to the smallest in 3 decades.

          Are you now saying that the economy is not doing well?  That would be quite a change for you.

          • http://pulse.yahoo.com/_R7FMXY3DZP7JF7SGSPIOSLLXNE Stephen

             The truth is 1) the economy is still struggling  and 2) you are so full of bullshit its hard to  tell when you’re intentionally lying or just displaying your stupidity.

          • jim_m

            So then there was no point what-so-ever to your first comment?  That is essentially what you just implied.

          • Jwb10001

            There is no point to any of Stephen’s posts.

    • http://profiles.yahoo.com/u/EU5DQWQTTHTPO4A4ZYSL3AAV2U Adjoran

       Can you teach us the song to sing to Dear Leader?

      • SCSIwuzzy

        Mmmm mmmm mmmm

    • GarandFan

       The BULLSHIT meter just went off scale.

      Stephen you really should pull your head out of your ass.  Better yet, tell your Obamassiah to kick everyone off the unemployment rolls.  That way he can brag that unemployment is at ZERO.  I’m sure he’d do it, it would be AN HISTORIC FIRST!

      • http://pulse.yahoo.com/_R7FMXY3DZP7JF7SGSPIOSLLXNE Stephen

         Yeah!

    • 914

      Stephie needs a med eval!! And some depends!!

  • 914

    Damn!! He’s good!! 

  • 914

    THE ‘Chicago way’  Is  a fast tobbogan to hell!!

  • herddog505

    Remember ’04, when we had “The Worst Economy Since the Great Depression”(TM)?  The unemployment rate then was around 5.5%.

    It’s amazing how the economy can improve merely by changing the party affiliation of the president, ain’t it?

    /sarc

    • jim_m

      The economy is booming!  The unemployed all left the labor force.  The homeless became the OWS movement. There are no problems in obamaland.  Dear Leader is doing a great job and he recently shot 38 under par!!!!

      Now excuse me while I boil my grass for dinner.

      • herddog505

        You’d better be using a solar stove to boil that water, mister!
        ;-)

    • http://wizbangblog.com/author/rodney-graves/ Rodney G. Graves

       There you go confusing reality with LSM reporting…

  • Sailorer

    The original premise is wrong. The discrepancy is due to the population adjustment – now using 2010 census info. See 
    http://www.ritholtz.com/blog/2012/02/no-rick-santelli-and-zero-hedge-one-million-people-did-not-drop-out-of-the-labor-force-last-month/

    • herddog505

      I don’t think the suggestion is that a million people suddenly dropped out of the labor pool, but rather that they were suddenly dropped by BLS.  This implication is that any improvement in the published unemployment figures is therefore highly questionable.  It’s a bit of a scam, really, akin to somebody claiming to his wife that there’s PLENTY of money for that new fishing rod because (oops!) he forgot to pay the mortgage this month.

      The indisputible fact is that, according to BLS, the labor utiliization rate is low and trending downward.  This is not a sign of a recovering economy, but rather of one staggering along.  Worse, if we assume that all those people who’ve left the workforce are on some sort of assistance (or, at the very least, not paying much if anything in federal taxes), it augurs no good for the deficit.

      http://data.bls.gov/timeseries/LNS11300000

    • http://profile.yahoo.com/QXTFSV7U6THRHEDGZ5JAYKTRTI David

       The American Spectator explains the same thing here

      http://spectator.org/blog/2012/02/03/participation-rate-issue-less

  • Brian_R_Allen

    Buraq Hussayn bin Buraq Hussayn bin Buraq Oogooboogoo Usama is to America’s future what Trofim Lyensko was to Soviet Agriculture, what Michael Jackson was to little boys bottoms and what the Soviet agent Alger Hiss et al were to the post-WW-II liberty of Eastern Europeans. 
    And stuff like that.

  • Brian_R_Allen

    Another Negative Record For Obamynomics #auspol #teaparty

  • http://profiles.google.com/rtssdorsai Jeff C

    17 million unemployed and 27 million part timers know the truth about the economy no matter what the BLS or the MSM report.  Oh, and they all have parents or friends that also know what sort of problems they are having …  44 miilion times 2 at least …

    That makes 88 million Americans who know things sucks based on personal experience …

    No amount of spin in the world will convince them since they know the reality …

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