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Whopping 932,000 Americans Drop Out Of Labor Force In October; Participation Rate Drops To Fresh 35 Year Low

Tyler Durden's picture





 

The only two charts that matter from today's distroted nonfarm payrolls report.

First, the labor force participation rate, which plunged from 63.2% to 62.8% - the lowest since 1978!

But more importantly, the number of people not in the labor force exploded by nearly 1 million, or 932,000 to be exact, in just the month of October, to a record 91.5 million Americans! This was the third highest monthly increase in people falling out of the labor force in US history.

At this pace the people out of the labor force will surpass the working Americans in about 4 years.

 


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Fri, 11/08/2013 - 09:46 | Link to Comment SoilMyselfRotten
SoilMyselfRotten's picture

That means we'll be hearing about lower unemployment numbers?

Fri, 11/08/2013 - 09:50 | Link to Comment Shocker
Shocker's picture

Wow, that is all that needs to be said

Layoff List

http://www.dailyjobcuts.com

.

Fri, 11/08/2013 - 09:56 | Link to Comment aint no fortuna...
aint no fortunate son's picture

Those numbers are back where they were when women had been flooding into the workforce for a decade. Put another way, we now have an economy where the great majority of it's households are living at a 2-income pace, but pulling in a single income to support it. That should work out well...

Fri, 11/08/2013 - 09:59 | Link to Comment Max Hunter
Max Hunter's picture

We don't need no stinkin work force. Geesh. just look at the DOW

Fri, 11/08/2013 - 10:07 | Link to Comment redpill
redpill's picture

The free shit club just got a lot bigger

Fri, 11/08/2013 - 10:10 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Where's the baseball caps?

Fri, 11/08/2013 - 10:17 | Link to Comment kralizec
kralizec's picture

Zero participation rate, that'll do it!

Fri, 11/08/2013 - 10:48 | Link to Comment gmrpeabody
gmrpeabody's picture

For every old dinosaur 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 meant it!

Fri, 11/08/2013 - 11:12 | Link to Comment Steve in Greensboro
Steve in Greensboro's picture

"If you like your job, you can keep your job.  Period."

Fri, 11/08/2013 - 11:44 | Link to Comment Oracle of Kypseli
Oracle of Kypseli's picture

The US is running on fumes

 

Fri, 11/08/2013 - 11:55 | Link to Comment Popo
Popo's picture

So... Taper off?

Fri, 11/08/2013 - 12:06 | Link to Comment Bendromeda Strain
Bendromeda Strain's picture

More like tapered at both ends...

Fri, 11/08/2013 - 11:56 | Link to Comment economics9698
economics9698's picture

So who cleans up the tribes houses when no one works anymore?

Fri, 11/08/2013 - 12:10 | Link to Comment Bendromeda Strain
Bendromeda Strain's picture

Filipino slaves - just like the muslims

Fri, 11/08/2013 - 12:32 | Link to Comment Jack Napier
Jack Napier's picture

and how much of this statistic is due to the government shutdown? Probably more than speculated here. Oh wait, that wasn't speculated. What was speculated is that this pace will continue... it could.

Fri, 11/08/2013 - 12:32 | Link to Comment Eeyores Enigma
Eeyores Enigma's picture

It's the jobless recovery.

There will be no recovery until everyone is jobless.

I say that only half jokingly.

Fri, 11/08/2013 - 11:45 | Link to Comment Captain Kink
Captain Kink's picture

I almost choked on my coffee...thank you, Steve.

Fri, 11/08/2013 - 12:09 | Link to Comment Bendromeda Strain
Bendromeda Strain's picture

So, you were the down arrow...

Fri, 11/08/2013 - 10:49 | Link to Comment Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Hey deluded Baby Boomers! Think you are going to retire? Who is going to support your SS? The free sh*t army?

Fri, 11/08/2013 - 11:51 | Link to Comment dontgoforit
dontgoforit's picture

I guess we'll have to grow our own beans and potatos.

Fri, 11/08/2013 - 12:12 | Link to Comment Bendromeda Strain
Bendromeda Strain's picture

Mine your own bitcoins with a sharpened spoon...

Fri, 11/08/2013 - 12:24 | Link to Comment Bad Attitude
Bad Attitude's picture

I thought legalizing tens of millions of illegals was supposed to support my future Social Security retirement? And, all I've got to do is learn a little Spanish.

Forward (over the cliff).

Fri, 11/08/2013 - 11:08 | Link to Comment 2bit Hoarder
2bit Hoarder's picture

um hello ... that is called full employment .. get it straight.

Fri, 11/08/2013 - 12:12 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

Well, ain't that Grand?  932xGrand, to be exact. /s

Tyler, I don't doubt that the stats are bad, but we need the data to show how much is due to the Boomers retiring (voluntarily or otherwise), to get a better JPG.  It would also help to see the above data in context of the different Unemployment rates, e.g. U6.  Thx.

Fri, 11/08/2013 - 12:27 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

An analysis was done that rebuts the demographic explanation.

The bottom line on it was the numbers just aren't that big for retirees, and they didn't all avalanche into retirement age in this 5 year period.  That's a gradual thing, whereas the employment destruction was sudden.  Not to mention that 65+ age cohort has higher "still working" numbers than ever before.

Further, the hispanic population of the US has a huge birth rate and they become job seeking age far more so than in the past, which offsets the boomer retirement numbers.

So . . . boomer retirements is a meme advanced by politicians.  That meme excuses policy, so they want it embraced.

Fri, 11/08/2013 - 10:37 | Link to Comment 1100-TACTICAL-12
1100-TACTICAL-12's picture

Good idea have some ballcaps made " Proud Sponsor of the Free Shit Army"..

Fri, 11/08/2013 - 10:40 | Link to Comment onewayticket2
onewayticket2's picture

we make caps.  how about F$A with a red line through?

Fri, 11/08/2013 - 11:19 | Link to Comment YBNguy
YBNguy's picture

"Free shit club," yeah they are most certainly an army. Wait until the EBT gets shut off and see how militant they get.

Fri, 11/08/2013 - 12:11 | Link to Comment CrimsonAvenger
CrimsonAvenger's picture

First rule of Free Shit Club is that you can talk as much as you want about it - there's no stigma whatsoever. Hell, feel free to make rap videos about your EBT card and post them online, it's cool.

Fri, 11/08/2013 - 12:47 | Link to Comment TBT or not TBT
TBT or not TBT's picture

Preppers' zombie fantasies come true.

Fri, 11/08/2013 - 10:44 | Link to Comment SquirrelButtDan
SquirrelButtDan's picture

I like "Coerced Sponsor of the FSA" better. 

Fri, 11/08/2013 - 11:33 | Link to Comment RaceToTheBottom
RaceToTheBottom's picture

You can put WalMart on the back.....

Fri, 11/08/2013 - 12:45 | Link to Comment jal
jal's picture

" Proud Sponsor of the Free Shit Army"..

A BIG PICTURE OF THE BANKER WITH HIS BAG OF LOOT.

Fri, 11/08/2013 - 12:33 | Link to Comment davinci7_gis
davinci7_gis's picture

That damn George W Bush...we wouldn't be in the situation we are in today if it wasn't for him.

/sarc

Fri, 11/08/2013 - 10:16 | Link to Comment remain calm
remain calm's picture

Bush really fucked things up, thank God Obama is here working on cleaning up his mess. Things will be much better any time now. We are sooo fucked. Our kids and grand kids are going to have every right to euthanize us when we get old

Fri, 11/08/2013 - 10:23 | Link to Comment corporatewhore
corporatewhore's picture

There isn't a dime's worth of difference between either party except the speed of the decline/crash into the wall.  You're either accelerating with the Dems or intermittently breacking with the Reps.

Nothing but government nonsense since the Gulf of Tonkin.  Time to tune in, turn on, drop out

 

Fri, 11/08/2013 - 10:27 | Link to Comment autofixer
autofixer's picture

[correction] Nothing but government nonsense since: 1913. 

Fri, 11/08/2013 - 12:06 | Link to Comment HardAssets
HardAssets's picture

[correction]  nothing but government nonsense since when Al Hamilton first sought to create a big central government/big insider business partnership to screw over the people. They bought off the bonds used to pay Rev War vets (since they had no hard real money) at pennies on the dollar. And then later redemed them at full face value. 'Screw those vets !' as far as they were concerned.

This sh*t has been going on for a long time. (And that's just the American version.)

When will people grow tired of it ?

Fri, 11/08/2013 - 12:15 | Link to Comment eclectic syncretist
eclectic syncretist's picture

If you block off the x-axes of these graphs and try to find the inflection points where the Fed started making things better with their QE ZIRP crap, it can't be done.  In fact, these graphs point out quite clearly that the Fed's trillions of dollars in gifts to the rich didn't have any effect at all on the employment trajectory.  Why aren't these graphs getting rammed up Bernanke's ass at the Congressional hearings?

Fri, 11/08/2013 - 12:18 | Link to Comment Bendromeda Strain
Bendromeda Strain's picture

Dude! I have long felt that Hamilton was the first corrupt seed planted in the system. Heck, even his provenance reminds one of our current corruptor in chief.

 

Fri, 11/08/2013 - 12:52 | Link to Comment TBT or not TBT
TBT or not TBT's picture

Damn, Frank Marshall Davis was laying pipe back in the 18th century? Fucking vampires!

Fri, 11/08/2013 - 11:17 | Link to Comment toady
toady's picture

You beat me ro the tune in, turn on, quote.

Looks like the boomers / gen xer's are finally taking the good doctors advice!

Fri, 11/08/2013 - 11:27 | Link to Comment redd_green
redd_green's picture

so true, so true.   Anyone who thinks either party will fix anything, any tiny thing, is sick on fluoridated water, and GMO foods.

Fri, 11/08/2013 - 10:45 | Link to Comment dontgoforit
dontgoforit's picture

More voters for the communists.  Get enough on that side of the page and there won't be any more 'elections.'

Fri, 11/08/2013 - 11:00 | Link to Comment SokPOTUS
SokPOTUS's picture

I sure hope the hell Daryl Dixon has saved a few arrows...

Fri, 11/08/2013 - 14:20 | Link to Comment Praetorian Guard
Praetorian Guard's picture

Ok, so if 92 million are out of work... and taking this quote above "At this pace the people out of the labor force will surpass the working Americans in about 4 years." Does that mean we are close to 50% UNEMPLOYMENT??????!!!!!!!!!

Fri, 11/08/2013 - 10:10 | Link to Comment Dareconomics
Dareconomics's picture

The chart that explains the reason is right here:

http://dareconomics.wordpress.com/2013/11/08/qe-effect-on-the-labor-market/ 

Fri, 11/08/2013 - 10:58 | Link to Comment dontgoforit
dontgoforit's picture

Damn.  X marks the spot.  That chart is chilling.  How do you ever reverse such a thing?  It would take monumental effort, sacrifice and extreme economic upheaval.

Fri, 11/08/2013 - 11:16 | Link to Comment czardas
czardas's picture

Anyone who omits the disruptive effects of technological innovation and replacement of virtually all "muscle" jobs is not doing THEIR job.  The market can't absorb more because increasingly machines are doing the work - period.  Take the new factories around the world with minimal "staff", the replacement of workers in retail or the approaching disappearance of transportation workers  - these jobs once absorbed those without higher education, skills or higher ambitions but that's over.  I saw a special where yet another class is being hit - mechanics.  The railroads once employed thousands for safety checks, detecting rail and wheel cracks, routine maintenance but increasingly that is being done by machine faster, more accurate and cheaper.  

Fri, 11/08/2013 - 23:34 | Link to Comment acetinker
acetinker's picture

Folks think I'm a eugenicist, but I'm not, even though my middle name is Eugene.  I'm one of "those" people who has used machines to multiply his output, err I still do, every day.  It makes me sad and pissed off at the same time, but young college grads would have to pay me to employ them.  I can program my equipment, it will do what I tell it to do, relentlessly, without asking questions, without any personal drama, for as long as I can keep electrons flowing into them.

Yeah, I know the computer has displaced many, many laborers.  I also know that once programmed, the computer does not make human mistakes.  So do my competitors.  Maybe one sunny day, a self-aware computer will make me obsolete- the algos have done this already to market saavy investors.  We'll see, won't we?

Fri, 11/08/2013 - 12:30 | Link to Comment davinci7_gis
davinci7_gis's picture

I guess it can only get better from here on out?

Fri, 11/08/2013 - 10:09 | Link to Comment Headbanger
Headbanger's picture

So we go back to one car families and more eating at home.  We will know its really getting bad when I see those iron-on patches for kids blue jeans come back along with those balsa wood glider toys. And hoola-hoops!  But kids just might not be so fat either.

Fri, 11/08/2013 - 10:18 | Link to Comment max2205
max2205's picture

Classic h&s top

Fri, 11/08/2013 - 10:28 | Link to Comment autofixer
autofixer's picture

I had all of that and I was very happy! 

Fri, 11/08/2013 - 10:30 | Link to Comment Sudden Debt
Sudden Debt's picture

THE REASON BECAUSE THE PARTICIPATION RATE DROPPED IS BECAUSE OBAMA ISN'T THE SUPPREME LEADER!!!

JUST THROW DEMOCRACY OVERBOARD AND THINGS WILL GET BETTER!!

and if not... you can relocate to Russia I guess... if you're able to to get accross the Iron curtain that surrounds the US....

Fri, 11/08/2013 - 11:00 | Link to Comment Peter Pan
Peter Pan's picture

Obamacare woukd love to have that kind of participation rate.

Fri, 11/08/2013 - 11:07 | Link to Comment SokPOTUS
SokPOTUS's picture

Well, 932,000 potential new enrollees in just one month!  A few more months like that; and they'll reach their Obamacare enrollment targets early; website or not....

Fri, 11/08/2013 - 11:59 | Link to Comment l8apex
l8apex's picture

SD: can you stop yelling?  You're harshing my mellow.

Fri, 11/08/2013 - 10:31 | Link to Comment Vendetta
Vendetta's picture

you mean families living in just one car instead of 2?

Fri, 11/08/2013 - 10:48 | Link to Comment Sudden Debt
Sudden Debt's picture

I WONDER HOW HAPPY THEY FEEL ABOUT BUYING THAT VOLT BACK IN THE DAYS INSTEAD OF THAT LARGE TRUCK!!! WHOEHAHAHAHAHAHAHA!!

Fri, 11/08/2013 - 11:44 | Link to Comment RaceToTheBottom
RaceToTheBottom's picture

Not that it is of the scale and importance as the issues here, but with all the people eventually losing their houses and living out of cars (one or two), or even moving to apartments, many people will be having to give up their dogs.  This is especially true for the larger dogs.  They end up in shelters, and are too good for shelters. 

Pick them up!!!

We picked up the best German Shepard we have ever had from the shelter, from a lady that was living out of her car.....  Once dogs come from shelters, they love you twice as much and you cannot beat a GSP for a guard dog or just protection of family and stuff in the upcoming apocalypse...

Fri, 11/08/2013 - 12:00 | Link to Comment shovelhead
shovelhead's picture

Get them out of the shelters for the best taste.

The free range mutts are stringy and tough.

Fri, 11/08/2013 - 10:52 | Link to Comment therearetoomany...
therearetoomanyidiots's picture

Was it so bad back then?   At least I could get 20 bucks in my pocket, a pack a butts and hitchhike across country.  

I long for the 60s and 70s again.   Back when we were truly free before the hippies and commies used double speak to remove our freedoms. Thanks hippies and educational elite.

"Hippies, hippies everywhere...they want to save the world but all they do is smoke pot and smell bad"  -E Cartman

 

Fri, 11/08/2013 - 11:10 | Link to Comment pods
pods's picture

Not really related to the hippies. Moreso the money supply and severing the ties to gold.  The sixties were the peak after WWII when we basically destroyed the manufacturing capacity of most of the western world, by the late sixties our debt load was groaning.  Enter the 70's and the need for pure debt money and we have been off to the exponential races.

Just different points along the same timeline.  

pods

Fri, 11/08/2013 - 11:17 | Link to Comment therearetoomany...
therearetoomanyidiots's picture

I believe, most humbly, that hippies and the educational elite really ramped up the dumbing down of our schools leading the way to the most stupid citizenry since the French revolution.

Don't disagree with what you've posited here. 

Fri, 11/08/2013 - 11:53 | Link to Comment walküre
walküre's picture

Hippies are just sheep. More wool, that's all.

Fri, 11/08/2013 - 12:00 | Link to Comment dontgoforit
dontgoforit's picture

I'm with you, therearetoomany.  I hitched from Chi-town to Keystone, SD; E Tenn to LA & back twice.  Around the great lakes.  To Miami & back from E TN.  Things were fun back then.  I did that 16-day coast-to-coast trip with $10 in my pocket each time - and was only hungry 90% of the time, ha ha.  Cold though...and wet some times.  But met some great folks and saw parts of the country I'd have never seen otherwise.  You're right on the school thing.  No Child Left Behind is pulling all down to the lowest common denominator - just doesn't work.

Fri, 11/08/2013 - 12:59 | Link to Comment therearetoomany...
therearetoomanyidiots's picture

It's funny, in an underappreciated movie, that is actually quite an excellent movie, highly recommend it, Ride With the Devil, there is a quote about schools in the country.  Keep in mind it takes place around the KS MO border wars.  This quote says alot...

 

As I saw those Northerners build that town, I witnessed the seeds of our destruction being sown. The foundin' of that town was truly the beginnin' of the Yankee invasion. I'm not speakin' of numbers, nor even abolitionist trouble-makin'. It was the schoolhouse. Before they built their church, even, they built that schoolhouse. And they let in every tailor's son... and every farmer's daughter in that country. Spellin' won't help you hold a plow any firmer. Or a gun either. No, it won't, Mr. Chiles. But my point is merely... that they rounded every pup up into that schoolhouse... because they fancied that everyone should think... and talk the same free-thinkin' way they do... with no regard to station, custom, propriety. And that is why they will win. Because they believe everyone should live and think just like them.
Fri, 11/08/2013 - 12:10 | Link to Comment Herd Redirectio...
Herd Redirection Committee's picture

Hippies?  Or CIA agents who infiltrated the Peace Movement?

Laurel Canyon, any one?

Fri, 11/08/2013 - 12:46 | Link to Comment therearetoomany...
therearetoomanyidiots's picture

Sorry, can't buy it.   The hippies among others railed against the country, the establishment led on by the likes of Ayers, Dorn, Hoffman, Leary, etc.   Unfortunately, as it is today, spinelss university administrators and politicians gave into the pressure.  

No doubt agents got in there, I know of some possibly infiltrating, and definitely surveilling the 'Community for Non-Violent Action' run in Voluntown CT by the Quakers.  

But also as it is today, it is the TeeVee watchers impacted by the 'popular' that is the real problem.

Fri, 11/08/2013 - 16:13 | Link to Comment redd_green
redd_green's picture

man,  you're looking in the wrong place for the root cause of the problems in teh USA.   Look at the Fed, you'll find who ran our monetary system into the ground.

Fri, 11/08/2013 - 11:09 | Link to Comment The Limerick King
The Limerick King's picture

Great comment!!! Thanks for a lot of good memories from my childhood!

Fri, 11/08/2013 - 10:12 | Link to Comment SamAdams
SamAdams's picture

That is the takeaway here.  Fortunately, when I attended the State Republican Convention, all representatives and constituents avoiding addressing ANY issues, but instead exclaimed their love for God!

Yes, now is the time to pray to Jesus, that he may come back from his heavenly abode to save you from the bankers.  It worked well for the Russian during the Red Terror.  It should work equally well today. 

Fri, 11/08/2013 - 10:45 | Link to Comment tarsubil
tarsubil's picture

God helps those who help themselves. Making a mess and putting at His feet isn't really love, is it?

Fri, 11/08/2013 - 11:14 | Link to Comment Mike in GA
Mike in GA's picture

@SamAdams

I reject your hate speech against Christianity. 

Forgive them, Father, for they know not what they do

Fri, 11/08/2013 - 12:12 | Link to Comment useless_fact
useless_fact's picture

Luke 12:47

Jesus sounds like a swell guy.

Fri, 11/08/2013 - 13:27 | Link to Comment LFMayor
LFMayor's picture

If he takes a whip and stripes banker asses, I'm with Him!!!

Fri, 11/08/2013 - 13:36 | Link to Comment Calmyourself
Calmyourself's picture

Your understanding of Christianity and by extension that passage is an excellent way to prove your ignorance, thanks for the heads up.  Useless indeed.

Fri, 11/08/2013 - 19:41 | Link to Comment tarsubil
tarsubil's picture

"The servant who knows the master’s will and does not get ready or does not do what the master wants will be beaten with many blows. 48But the one who does not know and does things deserving punishment will be beaten with few blows. From everyone who has been given much, much will be demanded; and from the one who has been entrusted with much, much more will be asked."

The "master" Jesus is speaking of is God. What Jesus is saying is, "If you jump off a cliff (you know the loving God does not want you to do this), you will break your legs." Your master, God, does not want you to jump off that cliff so it is in your own best interest to follow what you know to be His will. However, those who do not know their trangresses will be given pardon. To sin is self-destructive, to make a mistake is understandable. Yes, Jesus does sound like a swell guy.

Sun, 12/01/2013 - 13:10 | Link to Comment Hopeless for Change
Hopeless for Change's picture

Jesus loves you.  The rest of us think you're an asshole.

Fri, 11/08/2013 - 11:55 | Link to Comment walküre
walküre's picture

You got it. US Christians are a big part of the problem with our status quo. Servants to the establishment and never raising a finger to make a change because it could cramp their style. Hypocrites and dangerously delusional people.

Fri, 11/08/2013 - 12:17 | Link to Comment shovelhead
shovelhead's picture

That's right.

Some people telling you about a guy in an old book are far more dangerous than the bankster/govt. complex that rapes you every day.

Why are you worried about whether they raise a finger? Don't you have any of your own? Hypocrites and dangerously delusional, indeed.

I think your proportional meter may need calibrating.

Fri, 11/08/2013 - 12:42 | Link to Comment walküre
walküre's picture

That's because the sheep get indoctrinated every week to stay peaceful and not to rock the boat with the establishment. Jesus according to the book was alot more revolutionary than any of the glamour pastors out there today. They all preach a good sermon but there's no follow through. Tell you what. Close all churches for a year and see this nation get transformed for the better.

All that wasted time by millions of Americans trying to get a clue out of "scripture" which is made of some text collections of many moons gone by and trying to apply the "wisdom" in this day and age. Then the excuse they're just waiting for the 2nd coming any day now. Some say they hear "trumpets". Give me a break. Many good books have been written and many good people have been recorded that are fascinating. But you can't build a church around that, collect pittance and live the good life without lifting a finger.

Fri, 11/08/2013 - 13:39 | Link to Comment Calmyourself
Calmyourself's picture

My guy speaks about Jesus as a political revolutionary with thinly veiled references to our present situation, you do not know Christians like I know Christians.  Study the subject at huffpo or?

Fri, 11/08/2013 - 14:19 | Link to Comment SamAdams
SamAdams's picture

The original Jesus was a bit different than the religion which passes as Christianity today.  God does not require a book, nor does he play favorites, there is no monopoly on God (I am talking about the creator of the universe, not man's God.  There is a difference).  What are the origins of religion?  Is the bible literal, or is it a spun interpretation of truths regarding kings, astronomy and historically significant events?  Do people seek the truth, or lazily believe what their rulers tell them?

Did you know that Islam has more in common with Christianity, than Christianity with Judaism? Most people don't know this because they are only taught what their rulers want them to know.  The kings use religion to pit one people against another.  Fact check, the Palestinians have more Hebrew blood than do the modern Jews existing in the US Senate.  You see, being a Jew is no longer a race, but a religion at the broadest level, and a cult at the narrowest.

Once again, there are three major scams:  Money creation, Religion and War.

Fri, 11/08/2013 - 18:12 | Link to Comment walküre
walküre's picture

Then I'd care to listen to your guy if his sermons were online, youtube whatever. I know ALOT of Christians personally but except for a handful, most are too afraid to think outside the box.

The lien on creation for example is not ok with me. Where do we come from? Hard to believe evolutionary tales of basically gooman and millions of years. I have animals and observe them carefully. There's no way that we share the same make-up.

There have been earlier civilisations than the Old or New Testament are able to acknowledge or comprehend because the texts were written by people with a very limited worldview. Their scope was very narrow at the time. Basically all Jews or whatever their heritage was back then and their focus to establish a superior role as Jews. Poor Egyptians get a bad rap and so does every other culture or tribe that ever crossed them or was at war with them.

Either Christianity can expand and be more inclusive and willing to acknowledge that maybe Jesus (if he lived) was indeed not just one person but multiple characters who shared the same fate, then Christianity will have a chance as a theology. It has some important features for society but it cannot be singular and all encompassing. There is simply more to life than just the one faith and the one text.

Fri, 11/08/2013 - 10:13 | Link to Comment King_of_simpletons
King_of_simpletons's picture

We don't care if people drop out of the labor force. We only care that the adjusted numbers for part-time burger flippers comes out in the positive.

Fri, 11/08/2013 - 09:58 | Link to Comment SafelyGraze
SafelyGraze's picture

more people not-working than working!

this is the life of leisure that was promised back at the NY wold's fair

 

Fri, 11/08/2013 - 10:06 | Link to Comment Headbanger
Headbanger's picture

Which one? 1939 or 1964?   And look what we got !

Fri, 11/08/2013 - 10:06 | Link to Comment dontgoforit
dontgoforit's picture

ca. 1964/65 - I remember it.  The Wonders of Tomorrow or some such stuff.  It was a great fair, though. 

Fri, 11/08/2013 - 10:29 | Link to Comment BLOTTO
BLOTTO's picture

'Work' - it ruins your life.

.

Damned if you're working, damned if you're not...

Fri, 11/08/2013 - 10:19 | Link to Comment SamAdams
SamAdams's picture

Don't forget the golden globe of knoxville.  Peace on earth and equality for all, even if it means killing 3 billion people and impoverishing the rest.

Fri, 11/08/2013 - 10:50 | Link to Comment dontgoforit
dontgoforit's picture

Knoxville was a real disapointment.  That gulch they built it in was a dumpy place that separated downtown K'town from the UT campus and W Knoxville.  They cleaned it up only to see downtown start to fade and everything moved out to the west end of Kingston Pike.  Knoxville News Sentinel was a good paper back then, though - had a really good sports page with Tom Siler as Sports Ed. 

Fri, 11/08/2013 - 10:33 | Link to Comment Sudden Debt
Sudden Debt's picture

THEY ALSO PROMISED THAT EVERYBODY WOULD HAVE A PERSONAL HELLICOPTER INSTEAD OF CARS!!!

WHERE'S MY HUEY HELLICOPTER BITCHEZ!!!!!!

Fri, 11/08/2013 - 11:06 | Link to Comment AGuy
AGuy's picture

"WHERE'S MY HUEY HELLICOPTER BITCHEZ!!!!!!"

Bernanke: Sorry SD,  I needed all of the helicopters for money drops. My Bad!

 

Fri, 11/08/2013 - 10:50 | Link to Comment Mr. Magoo
Mr. Magoo's picture

What could possibly go wrong

Fri, 11/08/2013 - 09:55 | Link to Comment Oracle 911
Oracle 911's picture

Sure thing.

And fuck the congress and the whole system.

 

I tell you why because too qualifying yourself to be unemployed you need actively look after job, witch is quiet tiresome and sooner or later you will deprived from this.

And I have suspicion (as European), there are states where is a time limit how long can you been registered as "unemployed".

Fri, 11/08/2013 - 10:19 | Link to Comment Xibalba
Xibalba's picture

26 weeks, all states

Sun, 11/10/2013 - 10:03 | Link to Comment Oracle 911
Oracle 911's picture

Approx half a year, not much.

Fri, 11/08/2013 - 10:15 | Link to Comment auntiesocial
auntiesocial's picture

picture this: BLS boardroom meeting with this data on the conference room table and a blank whiteboard- 

"OK, fellas, how we gonna spin this one? it's a doozey!"

 

Fri, 11/08/2013 - 11:18 | Link to Comment auntiesocial
auntiesocial's picture

It's the Government Shutdowns fault" easy. peasy.

Fri, 11/08/2013 - 10:52 | Link to Comment fooshorter
fooshorter's picture

<--- Surprised by how bad the numbers are

<--- Not Surprised and the real numbers are much worse.

 

Hopefully circumstances get bad enough so that we can ALL live under the governments graceful hand! I mean we are just mindless peons that DESERVED to be ruled the by the 1%!! Now pass the popcorn and lets head to week 10!!

 

 

 

Fri, 11/08/2013 - 11:09 | Link to Comment AGuy
AGuy's picture

We need a chart showing full time employment. I am almost certain that a FTE chart would show a cliff dive, as businesses switch to part time and temp jobs.

 

 

Fri, 11/08/2013 - 12:09 | Link to Comment dontgoforit
dontgoforit's picture

The effects of 'ohdamnuscare'

Fri, 11/08/2013 - 12:55 | Link to Comment Smallfry
Smallfry's picture

Someone a few comments ago needed money for a friend's medical operation. Please pass along this site: GiveForward.com. It has raised $60 million for medical operations.

Fri, 11/08/2013 - 09:46 | Link to Comment j0nx
j0nx's picture

Holy shit!

Fri, 11/08/2013 - 09:47 | Link to Comment bubblemania
bubblemania's picture

Bullish!

Fri, 11/08/2013 - 09:57 | Link to Comment 101 years and c...
101 years and counting's picture

im sure it is.  ben can point to that as a reason to quadruple money printing since he (and the rest of the clueless apes running Fed Reserve banks) knows nothing about the real economy and how to actually create jobs and growth.

Fri, 11/08/2013 - 09:47 | Link to Comment nantucket
nantucket's picture

following prof. leary's advice and "dropping out".

Fri, 11/08/2013 - 10:14 | Link to Comment I am more equal...
I am more equal than others's picture

 

 

What about the "dropping acid" part? 

Fri, 11/08/2013 - 10:35 | Link to Comment Vendetta
Vendetta's picture

watching MSM news financial or otherwise is the same thing except more expensive

Fri, 11/08/2013 - 10:53 | Link to Comment Mike in GA
Mike in GA's picture

The most iimportant asset you'll have throughout your life is your mind and your ability to use it.  Don't mess it up with LSD. 

Fri, 11/08/2013 - 10:16 | Link to Comment CH1
CH1's picture

following prof. leary's advice and "dropping out".

Go Galt!

Fri, 11/08/2013 - 09:47 | Link to Comment MythicalFish
MythicalFish's picture

I am confused. How were furloughed govt employees treated for the October reading again? Not in the workforce total but not in the farmrolls delta either, right?

Fri, 11/08/2013 - 09:51 | Link to Comment dontgoforit
dontgoforit's picture

It these numbers reflect the govt shut-down (include all those folks who actually got paid, and maybe even got to keep their unemployment benefits) then it's a sham number because, as we all know, all those folks went right back to 'work' 16 days later.

Fri, 11/08/2013 - 10:59 | Link to Comment centerline
centerline's picture

Fade the headlines and individual data points.  The chart speaks for itself going back to 1978.

Fri, 11/08/2013 - 10:11 | Link to Comment Agent P
Agent P's picture

Furloughed, but expected to return to work soon.  Counts as unemployed for the household survey (UE rate) and remains in the labor force.  Does not count in the NFP number. 

Fri, 11/08/2013 - 09:48 | Link to Comment Bobbyrib
Bobbyrib's picture

So how does the unemployment rate rise if the labor participation rate fell?

Fri, 11/08/2013 - 09:51 | Link to Comment Rainman
Rainman's picture

Dammit...Quit trying to rationalize and BTFD !

Fri, 11/08/2013 - 10:16 | Link to Comment I am more equal...
I am more equal than others's picture

 

 

It is the new math.  They are using Jethro Bodine to do the cifering.

Fri, 11/08/2013 - 09:52 | Link to Comment Bosch
Bosch's picture

Because....science? 

Fri, 11/08/2013 - 10:12 | Link to Comment Agent P
Agent P's picture

.gov furloughs

Fri, 11/08/2013 - 10:25 | Link to Comment Sudden Debt
Sudden Debt's picture

YOU'RE GONNA GET FIRED IF YOU KEEP ASKING QUESTION LIKE THIS!!

WE HAVE YOUR IP!!

Fri, 11/08/2013 - 09:48 | Link to Comment GMadScientist
GMadScientist's picture

http://www.youtube.com/watch?v=k24mxNwANe0

"You're young and you got your health. What you want with a job?"

Fri, 11/08/2013 - 10:13 | Link to Comment rustymason
rustymason's picture

It's like Doc Swartz says, You got to have a little ambition!

Fri, 11/08/2013 - 09:49 | Link to Comment quasimodo
quasimodo's picture

This should be bullish for metals, finally folks will realize that the.........sorry, wrong headlines.

Fri, 11/08/2013 - 09:49 | Link to Comment GrinandBearit
GrinandBearit's picture

Yeah, the economy is improving!

How's that "hope and change" working out for you?

lol

Fri, 11/08/2013 - 09:49 | Link to Comment viator
viator's picture

Don't worry, soon everyone will be unemployed and the unemployment rate will fall to 0%.

Fri, 11/08/2013 - 09:49 | Link to Comment papaswamp
papaswamp's picture

Most. New jobs in the non-goods producing private sector. Can you say ACA employees? Yep...177,000 new jobs in that sector. Welcome to tax revenue/govt debt subsidized jobs. Amerigreece.

Fri, 11/08/2013 - 09:50 | Link to Comment Caveman93
Caveman93's picture

Who the fuck wants to work for funny looking green paper whose value is 97% less it's original in 1913? This is no surprise to me at all.

Fri, 11/08/2013 - 10:13 | Link to Comment Yes_Questions
Yes_Questions's picture

Off to the camp with you!

Bikinis optional

Fri, 11/08/2013 - 10:35 | Link to Comment Sudden Debt
Sudden Debt's picture

I'M NOT TAKING THAT MANDATORY SHOWER IF THERE'S NO HOT WATER!!

Fri, 11/08/2013 - 11:49 | Link to Comment RaceToTheBottom
RaceToTheBottom's picture

Trickle down economics....

And no it is not water, but like all piss, moderately warm....

Fri, 11/08/2013 - 10:14 | Link to Comment Agent P
Agent P's picture

As long as it buys beer...

Fri, 11/08/2013 - 10:26 | Link to Comment Sudden Debt
Sudden Debt's picture

if it pays the bills I do :)

 

Fri, 11/08/2013 - 09:50 | Link to Comment orangedrinkandchips
orangedrinkandchips's picture

IT WILL ONLY GET WORSE WHEN O'FUCKYOU-CARE COMES INTO PLAY.....YOU JUST WAIT...IM NOT SHITTING YOU

Fri, 11/08/2013 - 09:51 | Link to Comment NDXTrader
NDXTrader's picture

I'm no Ivy League economist, but how do jobs go up, participation go down and the unemployment rate go...up? That is a sophisticated equation right there

Fri, 11/08/2013 - 09:53 | Link to Comment uncle.bigs
uncle.bigs's picture

That's my question too.  Doesn't make sense.

Fri, 11/08/2013 - 10:01 | Link to Comment nantucket
nantucket's picture

i think it's because most of the jobs were filled by people that already have 1 job, so now they have 2 jobs, so that gets counted as a job created, but the job created didn't actually move anyone from UNemplyed to EMployed.  it just employed someone already working.  also you could have a lot people with just 1 job getting fired and the role filled by someone who now works two jobs, so that makes unemplyment go up.

 

i don't know, I just made all that up, but it sounds like it could work.

Fri, 11/08/2013 - 10:19 | Link to Comment ejmoosa
ejmoosa's picture

Bump those that go from 1 to three jobs and you are spot on.

Fri, 11/08/2013 - 10:26 | Link to Comment corporatewhore
corporatewhore's picture

i work 3 jobs.  thanks for clarifying how i get counted.

Fri, 11/08/2013 - 10:46 | Link to Comment Vendetta
Vendetta's picture

our group had someone quit last month, I have been assigned his previous tasks so I just add the tasks to the two other jobs that two other people used to do that I do now as well.  So yeah it all makes sense when you see my 70 hr work weeks

Fri, 11/08/2013 - 12:54 | Link to Comment Herd Redirectio...
Herd Redirection Committee's picture

This is exactly why there are no jobs.  We talk about employers, when 150 years ago, we would be talking about slave owners.

Fri, 11/08/2013 - 10:05 | Link to Comment pepperspray
pepperspray's picture

Tweet that shit

Fri, 11/08/2013 - 10:18 | Link to Comment Agent P
Agent P's picture

See my post above...it's how the gov't furloughed workers are counted in the surveys (still in the labor force, but unemployed).  This will all reverse itself next month and the rate will tumble...expect to see Obama on TV very often in December talking about what a BAMF he is.

Fri, 11/08/2013 - 10:52 | Link to Comment Unprepared
Unprepared's picture

deleted... misunderstood the question

Fri, 11/08/2013 - 09:51 | Link to Comment orangedrinkandchips
orangedrinkandchips's picture

You HAVE to get a new insurance plan AND it will cost anywhwere from 300-400% more!!

 

HOW IN THE FUCK DOES THAT WORK FUCKFACE OBAMA?

Fri, 11/08/2013 - 10:33 | Link to Comment WillyGroper
WillyGroper's picture

But, but, but, he said he's sorry.

Uncanny knack for stating the obvious!

Fri, 11/08/2013 - 09:51 | Link to Comment Yen Cross
Yen Cross's picture

  Right in the middle of that other ZERO Carters administration! (1978)

Fri, 11/08/2013 - 09:52 | Link to Comment polo007
polo007's picture

http://www.reuters.com/article/2013/11/05/column-markets-saft-idUSL2N0IP1QW20131105

The QE deflation puzzle

Tue Nov 5, 2013 3:00pm EST

By James Saft

Nov 5 (Reuters) - When it comes to creating inflation, bond buying by central banks may actually ultimately be counterproductive.

Called quantitative easing, it continues to be a mainstay of the policy reaction to the ongoing economic malaise. Yet here we are five years later and the evidence that QE can kindle inflation, much less revive the economy, is decidedly mixed.

In part that may be because everyone realizes that QE isn't forever: ultimately the bonds the bank buys will have to be repaid. It is also true - and here we can consider the remarkable valuations of Twitter and Pinterest - that QE causes bad investments, which ultimately must be deflationary.

With U.S. inflation rising just 1.2 percent year on year in September, well below the Fed's 2.0 percent target, bond buying by the Federal Reserve will continue - a bit like the old joke about beatings carrying on until morale improves.

Very radical increases in bond buying in Japan under Abenomics - more or less a pledge to buy and buy assets until inflation reaches 2 percent - has also had only mixed success so far, with core inflation flat in the year to September. That this, the first time Japan core inflation hasn't fallen outright since the end of 2008, is seen as a victory is itself a bit of an indictment of extraordinary monetary policy.

Dangerously falling inflation in the euro zone has prompted calls for the ECB to join in the bond buying, despite its signal lack of success elsewhere. The ECB is arguably already engaging in QE as its program of providing long-term financing to banks often leads to banks buying government bonds themselves.

So, QE everywhere, and everywhere unsatisfactory inflation and at least the threat of falling prices. Could there be a relationship? Part of the failure of QE may be explained by the fact that as a percent of broader money supply the amounts involved are small. Banks must lend and businesses invest or QE will be swamped.

In some ways, all of the inflationary effects of QE are short-lasting and liable to reversed. Not only is everyone involved aware that ultimately the bonds are not being bought and burned, but bought and held, and thus must be repaid or will be sold by central banks.

Also, QE encourages private investors to gamble a bit, perhaps leading to poor choices.

"Unproductive investment is by nature ultimately deflationary," Michaela Marcussen, global head of economics at Societe Generale, wrote in a note to clients. "This is a point also worth recalling when investing in paper assets fueled by QE liquidity and not underpinned by sustainable economic growth."

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