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623,000 Full Time Jobs Lost Last Month

Tyler Durden's picture




 

So much for the surge in 691,000 full-time jobs in September. One short month later, indicating just what a farce the BLS's sampling process is, while the algo frenzy-inducing establishment survey showed a gain of 204,000 workers, the household survey had some other ideas. True, the headline household survey number rose by an almost identical 213,000 workers, however it is when trying to foot that number into the actual components, when one gets a headache. Because according to the same survey, a whopping 623,000 full-time workers (supposedly government) lost their jobs in October, nearly offsetting the entire 691,000 gain the month before which it turns out was purely for Obamacare (now hopelessly damaged) optics.

Ok, so to add up to the headline number at least part-time jobs should have soared right? Wrong. Because according to the BLS another 127K part-time jobs were lost in the month, for a total of 750K full- and part-time losses. In other words, the BLS' random number generator was working on overdrive once again.

Source: BLS

 

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Fri, 11/08/2013 - 10:07 | 4134912 LawsofPhysics
LawsofPhysics's picture

Don't believe your "lying eyes" sheeple, just accept our paper promises in exchange for your real assets and labor.

Signed,

The Bankers.

Fri, 11/08/2013 - 10:10 | 4134933 JailBank
JailBank's picture

Did that many Arby's and Ruby Tuesdays open up?

Fri, 11/08/2013 - 10:14 | 4134949 Headbanger
Headbanger's picture

Now say you're sorry again Barry!

Fri, 11/08/2013 - 10:27 | 4135030 SWRichmond
SWRichmond's picture

Manipulation of the facts going into the election. 

Fri, 11/08/2013 - 10:51 | 4135149 gmrpeabody
gmrpeabody's picture

For every old dinosauer job of the past that we can get rid of..., that allows us to replace it with 2 new "job lite" positions. No more concern about having to work too many hours, or which benefit package to enroll in. And worrying about what your retirement package will look like is a thing of the past.

We are your Progressive Administration that listened to you. When we said "yes we can"..., we ment it!

Fri, 11/08/2013 - 11:00 | 4135190 Max Hunter
Max Hunter's picture

Full time up 500k the lenght of the chart, Part time about broke even. Since Jan we are up 500k full time jobs in a work force of 130 million. How many are added to the work force each year? If it's the 250k/mo we always hear, We are down at least 1.5 million jobs for the year. I find this to be very bullish..

Fri, 11/08/2013 - 11:12 | 4135249 glenlloyd
glenlloyd's picture

250k added is probably a bit optimistic. Conservative estimates 100k addl to workforce per month. Probably somewhere between 100-200k.

Even at 100k the boat's sitting lower in the water every month. One reason they keep purging passengers at an alarming rate.

That doesn't even address the quality of the jobs / compensation.

Fri, 11/08/2013 - 16:48 | 4136607 CoastalCowboy
CoastalCowboy's picture

Yeah, one can go from one's part time as a meth lab grunt to a your second job as krokodile lab trainee then finish off the graveyard shift scrubbing the cum stains from the beds at some flop house rent by the hour fucktel.

Welcome to hope and change!!!!!

Fri, 11/08/2013 - 10:14 | 4134953 GolfHatesMe
GolfHatesMe's picture

Chipotles and Autozones

Fri, 11/08/2013 - 10:09 | 4134924 Rainman
Rainman's picture

If you like your part-time job, you can't keep your part-time job.

Fri, 11/08/2013 - 11:13 | 4135254 GMadScientist
GMadScientist's picture

If you don't like your part-time job, you must keep your part-time job.

Fri, 11/08/2013 - 10:09 | 4134926 toe
toe's picture

they should put the obama adminstration infront of a panel and have to explain all these stats. Everybody knows the government is full of shit but 99% of americans dont care

Fri, 11/08/2013 - 14:26 | 4135965 rustymason
rustymason's picture

I agree completely. The defendants -- every bureaucrat in the Federal government -- should be tied to a post and blindfolded. Questions should be fired from seven young men 10 yards away.

Fri, 11/08/2013 - 10:12 | 4134937 the not so migh...
the not so mighty maximiza's picture

its bad no matter what angle you look at it

Fri, 11/08/2013 - 10:16 | 4134967 kralizec
kralizec's picture

The beatings will continue until...well, they'll just continue...so STFU and enjoy it!

Fri, 11/08/2013 - 10:12 | 4134939 DaddyO
DaddyO's picture

Red, White and Blue Charts, Rah, Rah!

BLSBS, nonetheleass!

DaddyO

Fri, 11/08/2013 - 10:14 | 4134945 Dr. Engali
Dr. Engali's picture

The Zero administration must have been in a quandry. Do we show a job loss and blame it on the tea party, or is there the possibility it could backfire and be blamed on Zero care? Ahh fuck it, lets screw with everybody's head and throw out a big number.

Fri, 11/08/2013 - 10:14 | 4134951 ejmoosa
ejmoosa's picture

Why is this data so distorted and making such little sense?

Our entire economy is now so distorted by the actions of the Federal Reserve.

 

The price we will pay will be extreme, both in value and years, to recover from.

 

Fri, 11/08/2013 - 10:31 | 4135052 pods
pods's picture

This tells me that they cannot reasonably measure this metric and it is a fluff statistic.

When you have swings this wild you are merely seeing noise or trying to measure something immeasurable.  Quite possibly you cannot really make a conclusion by looking at this short of a time period. You are merely seeing noise.

Kind of like the GW data.  Zoom in close enough and you can come to any conclusion you want.

pods

 

Fri, 11/08/2013 - 10:16 | 4134969 Cognitive Dissonance
Cognitive Dissonance's picture

Held together with duct tape and bailing wire.

<And liberal doses of hopium.>

Fri, 11/08/2013 - 10:18 | 4134981 orangedrinkandchips
orangedrinkandchips's picture

Will get worse as the year goes on....

PREPARE FOR O'FUCKYOURMOTHER-CARE......

 

Obama is one dumb fucker

Fri, 11/08/2013 - 10:22 | 4134999 The Fonz...befo...
The Fonz...before shark jump's picture

that sept print is such bullshit..they must have counted students going back to school or some shit to pad the numbers...wouldnt surprise me in the least

Fri, 11/08/2013 - 10:29 | 4135041 spanish inquisition
spanish inquisition's picture

They didn't want anyone to add part time and full time together and get over 1 million jobs lost in one month. That would be a downer and a potential political headache during the next election cycle. 

Knowing the Federal workers would get hired back, they added them in during September and took them out in October. That would eliminate any political issues down the line and zero out the numbers.

 

Fri, 11/08/2013 - 10:33 | 4135062 Seasmoke
Seasmoke's picture

Hanukkah shopping is around the corner !!

Fri, 11/08/2013 - 10:43 | 4135099 adr
adr's picture

The first day of Hanukkah in Thanksgiving. Is that why my wife has to go to work at 5PM on Thanksgiving day?

Fri, 11/08/2013 - 11:14 | 4135260 GMadScientist
GMadScientist's picture

No, because you're a washed up loser.

Fri, 11/08/2013 - 10:41 | 4135090 adr
adr's picture

Plain as day in the BLS chart the seasonally adjusted employed number dropped almost 800k between September and October. The non seasonally adjusted number only dropped just under 600k.

Maybe that's how they came up with +202k. Since the seasonally adjusted loss was greater than the actual loss, that means the difference is actual jobs created.

Like when you said you were going to spend $3.8 trillion but only spent $3.5 trillion, you actually saved $300 billion.

Fri, 11/08/2013 - 10:50 | 4135134 papaswamp
papaswamp's picture

Question for the ZH geniuses... If the BLS was closed during the shutdown..how did they take the survey? Or was the survey taken after it reopened....in which case the govt worker argument is null.

Fri, 11/08/2013 - 11:15 | 4135262 GMadScientist
GMadScientist's picture

Answer: the same way they always do...make it up.

Fri, 11/08/2013 - 10:53 | 4135161 yogibear
yogibear's picture

Bullish! Anything to make this market to go ever higher. It's been buy on the dips for years. Nothing has changed.

Fri, 11/08/2013 - 15:40 | 4136374 John___Connor
John___Connor's picture

Ok, I am utterly confused. According to the BLS +204,000 jobs were added in October. That link is here:

http://www.bls.gov/news.release/empsit.nr0.htm

But, if we go this detailed breakdown page we see that the BLS is also telling us -735,000 jobs were LOST in October. That link is here:

http://www.bls.gov/news.release/empsit.t09.htm

Also, if we go to another detailed breakdown page we see that the BLS is telling us -735,000 jobs were LOST in October. That link is here:

http://www.bls.gov/news.release/empsit.t01.htm

The summary does not add up to the details. Maybe I am missing something, but can someone please explain to me where the heck this +204,00 number is coming from?!?

Fri, 11/08/2013 - 16:12 | 4136497 reTARD
reTARD's picture

Obamacare in progress.

Do NOT follow this link or you will be banned from the site!