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One Million People Dropped Out Of Labor Force In April: Participation Rate Plummets To Lowest Since 1978
And so the BLS is back to its old data fudging, because while the Establishment Survey job number was a whopper, and the biggest monthly addition since January 2012, the Household Survey showed an actual decline of 73K jobs. What is much worse, is that the reason the unemployment rate tumbled is well-known: it was entirely due to the number of Americans dropping out of the labor force. To wit, the labor force participation rate crashed from 63.2% to 62.8%, trying for lowest since January 1978! And why did it crash so much - because the number of people not in the labor force soared to 92 million, the second highest monthly increase ever, or 988K, only 'better' than January 2012 which curiously was the one month when the establishment survey reported a 360K "increase" in jobs.
End result: the number out of the labor force is now an all time high 92 million, and the labor force tumbled by 800K to 155.4 million from 156.2 million as the delayed effect of the extended jobless benefits ending finally hits. What is most amusing is that the "persons who currently want a job" was unchanged at 6,146K - even the BLS said it was "puzzled why so many unemployed people are not looking for jobs." We have some ideas, and no, they don't include the addition of 234K "birth/death adjustment" jobs.
Participation Rate:
People not in the labor force:
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BUT LOOK! THE S&P IS AT ALL TIME HIGHS! SURELY THE MARKET MUST BE DOING GREAAAAT!
1 Million dropped out of the market, wow that is sad
Job Situation: http://www.dailyjobcuts.com
-
Who cares!?
Stimulus!
Pretty soon they will all be drafted to go fight the Russians and will be employed again.
even the .01% are blaming the fed http://www.cnbc.com/id/101635189#_gus "He blamed the expanding inequality between the haves and the have-nots on the effect of the Federal Reserve's stimulus program, which inflated asset values."
If this trend continues we'll eventually have 0% unemployment, but no one with a job! WTF is up with that??!!!
It's hope and change silly.
Too much more of this.....and we're all gonna die.
I'm sorry, but the enormity of a MILLION people leaving the work force in a single month just hit me. A MILLION people.
I sure hope every one of those 288K people who got a job enjoy paying for the 4 others they're going to have to carry on their backs. No doubt all of those 288K jobs are nice 6-figure jobs with bennies, though. Because if they were mostly McWage jobs, the math might not work out so well.
It's worse than that, it's the underground economy, and they don't pay taxes at all.
And all he talking heads can spew is what a monster 288K number was added to the workforce... Pathetic...
This jobs number is just spectacular! Are you serious? 288k JOBS? This is frikin awesome! What a slap in the face for all the naysayers that didn't believe in the recovery! Stocks are soaring, gold and silver have been flushed down the toilet, and every major economic indicator is indicating sunny days for the US economy. If this isn't enough to make ZH cynics and greasy golbugz cry, then I'll be damned.
Tears of laughter, my blind friend. 1 million. Wow. Just 'frikin' wow.
I know how we can get everybody working again....institute the draft and let's go FUCK UP RUSSIA!!!!
Tune in, turn on, drop out.
santellis jumping around in a cave is a good analogy.
The BLS and the way they put these bogus numbers out reminds me of what James Angleton, former CIA offical said:
"Deception is a state of mind and the mind of the State”
They time the largest phony employment gains with the biggest dropout months. if the market(yea, what market?) was paying attention to this, it wound be down a couple of hundred.
Where the hell you been? I actually miss your schtick.
I would love to get a beer with you.
Do you work for CNN or MSNBC?
MillionDollarBonus_ hmm. That aproximates the earnings of the Nobel Peace Prize. Maybe you're Paul "Freddie" Krugman hidding behind a clever handle. If not, I think you do a bang up job providing insight into the thoughts of that weasel.
Yeah, my thoughts exactly. What are you all so mad about ... it's all good right? Now that we have the ACA subsidies to add to our other subsidies, more people can choose not to work. Don't be so backwards, it's a good thing. Work to live, not live to work. Turn on the cable, catch up with Facebook, it sure beats going to the office!
Are they trying to smoke us, that outsourcing didn't matter.
Bad to 36 years ago, before outsourcing even started.
The writing is on the wall for anyone who cares to read it. The FedGov is fudging numbers in order to justify a tightening monetary policy. This will bring the markets down and bolster safe haven investments. It will hurt a lot of people, as it always has and always will. But it will line the pockets of the string holders, and that's what our FedGov is all about, after all.
So Now here is another classification, like the mobile ready wkfc....
The String Pullers and the Bag holders.
And then the Eric Holders but that is a whole 'nother story...
ori
I wonder what the unemployment number is for working age, not just those "actively seeking work". It's amazing what they can do with symantics.
It's election season already.
why do you hate the jobless so much?
why don't you go kick the dog for dessert?
Did you get lost on your way to Huffpo?
Maybe he hates the situation, for being created by a broken system, one that makes victims of both employeed and unemployeed?
Two weeks and 6 days... I'm going with the HuffPo troll theory.
........^^^^^^^^^^^^^^^^^^........
Okay...who the fuck is this emotionally unbalanced yokel? God damn, this site needs a "cleansing" nearly as bad as Christie's colon.
So stop reporting the fake jobs numbers, just report the labor participation number.
Reporting fake fudged fantasy numbers then saying how ridiculous they are is getting a little boring.
While you're at it stop reporting new stock market highs then saying how rigged and manipulated markets are.
While you're at it - don't say anything ever, and shut down ZH, 'cause it's all meaningless!
That's your crazy mind working in overtime.
It's the new math they are teaching in the schools and colleges.
But the 0% will have to pay their fair share!
"but no one with a job! "
Except banksters and those on Wall Street.
Why produce anything anymore? Just print money and hand it to other countries for items.
The other countries end up with a lot of worthless paper.
Til they say, "No moar!", and then the Murikan Dream will be No Moar.
Of the 280k jobs, 83% are from BD adjustment.
1 million left the labor force.
Participation rate @1978 levels.
#Winning
You don't get it. This is like if you're a male and the population of men around you starts pairing up with each other. It is easier for you to get a date with a chick. Since fewer people want to work, it is easier to find a job. This is great for our society. Believe me.
My fear is those 1 million still gotta eat and the government seems to print what it needs to feed them.
pods
Let them eat fiat! I got it! Chocolate flavored Federal Reserve Notes! Genius!
But Chocolate flavoring has value. Who is gonna pay for that?
Artificial flavoring made from toxic waste! You'll get paid for disposal/flavoring notes! Win-win!
Hey, it worked for fertilizer companies. They actually get municipalities to pay for their toxic waste flourine compounds and put it in the drinking water.
Heh, maybe once we can't afford paper anymore, we'll have soylent Federal Reserve notes.
What about free Candy Crush vouchers? Farmville credits?
If we keep this up we might get our Chocolate rations increased to 20 grams (from 30 grams).
pods
or having sex with pregnant women as a form of birth control.
Is that a bad thing?
Wow, I'll equate this to the American Motors 1970's Pacer automobile! What!?! you don't remember them? Well, as hideous as they looked back then it's no wonder you'd never want to be forced to revisit those times again.
Yeah but none of em will pass the physical !
Will the phyiscal be like the ECB stress tests?
The bar is
|---------------------------------------| high.
Average is
|-----------------------------------| high.
::Shit, everyone is going to fail.::
Then, 2 weeks before the exam, lower the bar to
|------------------------| high.
::BREAKING NEWS::
Per new state of the art physical fitness tests, members of the American Military are the most physically fit in the world. Destroying the evil Communist Russians Soveits will be no problem for out fit young men, women, and its* in uniform.
(* Please see "67 Facebook Gender Classifications." http://www.mirror.co.uk/news/technology-science/technology/facebook-gender-option-facebooks-new-3144022 )
Nah, the BLS will merely change the definition of employment. After the change, collecting a government check will be considered full employment. Imagine the numbers with that reality.
just think what the UE rate is when they kill billions of useless eaters off? now they are kind and just ignore that living people are there without jobs, but thru a magic wand wave of no longer seeking work, they no longer exsist...think for now I like this more humane treatment of us common folk.
Maybe this is what that Ukrainian guy with that long narration was referring to in his article when he mentioned '..Yellowstone could accomplish just what's necessary for the Western oligarchs, a matter he'd discuss another time...'
from the other day
Barry Soetoro:
You're Fired..........
Box up you're shit and get the fuck out of the buikding...............
He ain't got no shit- it's all shit he got from other folks. He is more worthless than tits on a bull.
5 years in and we still don't really know anything about this guy.
Thank you MSM for not doing their job. They have their nose so far up Barry's ass, they can't see straight.
Yeah...we do....
that he is a lying cunt bag...for one thing....all you really need to know about Fuckbama.....he's a lying cunt....
sometime after Nixon the press lost all their interest in exposing the hypocrisy and lies. Was it when they were bought by the corporate machines? I'm not sure.
The media is useless now except for the web. The matrix is now so interwoven between the politics, the media, the corporates we will all be dead before any fixing can occur if it ever will
You know all you need about him.
He's a minority! (1/2)
He has a family! (might be his)
He went to a swell school! (maybe)
He cares about you! (It's evident)
He's American! (maybe)
He likes to bow to foreign leaders, robots, and garden gnomes! (He's humble)
He got great grades! (not released)
He isn't a crack head nor does he ride the 'Horse'! (medical records unreleased)
He loves nature! (married a Yeti)
Etc etc etc.
You didn't milk that...
He never should of been "hired" in the first place.
Terrific news. If it wasn't bad enough I was drowning in taxes, now I get to support them also. I wonder when I get thrown into jail for being behind in my taxes that I literally don't have.
...Are the Men and Women in America's Military part of the "employed"?
just askin
@y3maxx
No.
ETA: What fucking idiot downvoted that? Here's your answer:
http://www.bls.gov/ces/cesfaq.htm
Maybe it was a vote for 'No' ;)
You did kind of word it like a survey.
America has been liberated from JOB LOCK!!!!
This story is being heavily censored. Can't even share it. Keep getting errors and page not found.
Soon to be another non-essential, non-tracked, non-reported number except at shadowstats.
We have arrived.
https://www.youtube.com/watch?v=h1BQPV-iCkU
Ya know, that may not be the paradise we think it would be. I just got ass-reamed by the wife for nodding off on the couch while I was supposed to be "watching the kids". Put me on one of those floating barcaloungers and I may never be awake enough to know I'm even alive.
OMG Wal Mart of the future!
they will get the number down to 0% unemployed by the election
nehhhhh ...
We'll have NEGATIVE unemployment, and CNBC will have some idiot talking head describing how dangerous negative unemployment is, and how we need to import more Mexicans ASAP!
Meanwhile, we'll have Rick Santelli slitting he wrists vertically as he finds it the only way to escape his coworkers.
CNBC is still on the air? TV is so old fashioned.
Given that CNBC is bombarded with these kinds of commercials;
http://www.youtube.com/watch?v=eF3mzTpFCrU
I am convinced that it (CNBC) is targeted at a the elderly who are no longer fit to manage their finances, are scared of the computer, and believe anything said on TV.
I think you hit it on the head, low unemployment is needed for immigration reform....
Why should I work for $11 an hour when I can get free housing, food stamps and Obamacare? And, pay no taxes. I can either be a slave or watch TV all day and drink beer or smoke crack and live off the government.
You make a compelling argument.
This tax donkey is getting tired,where do I sign up ?
http://www.benefits.gov/
http://usgovinfo.about.com/od/federalbenefitprograms/a/Are-You-Eligible-...
Yeah! If everyone gets laid off or quits working, then unemployment will plunge to 0%. Maybe that's the plan.
I'd rather eat dirt. Where's your pride, people? Man up. Damn.
Ultimate fail.
Drink deep the gathering gloom, as darkness spreads in every room.
Look, my Kool-Aide addled friend, you equate slaving away for your master as some sort of moral imperative?
Flush out your headgear new guy.
The very reason this system of debt, death, and slavery continues is simply because everyone refuses to lie down in their traces and refuse to pull the masters' wagons.
Let me illustrate for you, I'd rather eat dirt:
Your job is prison guard and inside the fence are your kids and family, on starvation rations. Your refusal to quit, due to your misguided morals about your 'work' keep the gates manned and your own blood incarcerated and enfeebled - and eventually their kids as well.
Those who fasten a mouth on the tit of Leviathan will do more, in their millions, to hasten its death than the dutiful tax slaves like yourself. Every feeder on the system is a Patriot.
If you work off the books, that's another story but that's not how I read your righteous indignation.
When approaching a Yellow Light at an intersection the Driver has but two options. They can depress the Brake Pedal or they can floor the accelerator.
When stomping on the brakes fails to bring the desired affect (stopping the car safely) then it is extremely wise to stomp on the accelerator as to avoid the fatal consequence of a crash.
Well....The brakes on this economy and political system have failed.
What is the driver of the economy, the working class, going to do? Stomp on the brake pedal even more when it does not work? Or will they stomp on the gas?
Your choice.
Employer : Ok, the job offers $12/hr
Applicant: I can't work for you at $1 an hour.
Employer: I don't think you heard me. I said $12/hr
Applicant: NO , thats $1/hr. I'm getting $11/hr from welfare.
So thats it in a nutshell!
Will they have beer at FEMA camps?
Your choice of Natty Light or... Natty Light.
Here in Seattle we cannot find any workers for virtually any job. It used to be we were unable to find good workers, it has now morphed into any workers.
Even for decent wage positions with benefits and upward mobility.
We are trying to understand what is going on. Yes, the local economy is doing well, Boeing, Msft, Amazon, Starbucks etal are helping. But that is not a complete explanation.
My opinion is that the FSA is winning. War on men? This is what it looks like.
Getting out of this hole will take a miracle.
sschu
I'd panhandle, glean, and sell bodily fluids before I'd move to Seattle. Maybe the reason you cannot attract people to Seattle is because you're in Seattle?
You sound like a 49ers fan .... or Broncos.
I live a couple hours away from Seattle, and I cringe every time I have to go to that place. Seattle has to be the most unfriendly, nasty, shitty place in FEMA region X. I hate Seattle.
Could it be that housing costs there are so high that only upper income people can afford to live there? Not saying you aren't offering decent wages, just saying it is all relative.
Yes, the cost of living in Seattle is high. Housing is a big component of that cost. There is a move afoot to increase the min wage to $15 / hour. We will see some change, not sure if it will be $15 next year. This will not really help the low skill work force.
The City of Seattle has a large immigrant population, many unskilled (but not all). The schools are attrocious and traffic is a real challenge.
There are a lot of reasons people are not working in Seattle, but the lack of jobs is not one of these.
sschu
another 1M people BTFD so they dont need for work. its calld welth effect
There are lies, damned lies, and gov't statistics!
Those 1 million who left the workforce are the NEW MIDDLECLASS.....they have no job..live with mom and maybe dad...watch TV..play video games all day and eat...they will until mom and dad die.....then they will live off the inheritance....they will become consumers then...spend that windfall fast....
It was mom and dad who spent that last bid in 3 years, something aint right about her inheritance.
And gold silver bounce back. Maybe the idiots are not as stupid as I thought.
Actually, they're much, much stupider than you can imagine.
BONUS TIME!!
THE MSM SPIN: U.S. job growth increased at its fastest pace in more than two years in April and the unemployment rate dived to a 5-1/2 year low of 6.3%... BULLISH!!
YES! The lower the participation rate, the stronger the recovery!
Think about it. Fewer people participating in the labor force can only mean one of two things: the strong recovery has made these people prosperous enough to retire early, or the strong recovery has made these people prosperous enough that they are raising their kids up with two stay-at-home parents and paying bills with their capital gains.
or...maybe it means tens of thousands of baby boomers are retiring each month and are no longer counted; how much does that contribute to the lower participation rate?
The good news is no one's watching.
GD Creative Mobiles!
pods
how else do you goalseek unemployment rate?
Please don't be critical of the Orwellian people. Why? Just shut up, work and pay all your taxes, including your "health" tax. And be happy. Always. Because. Your. Are. Living. In. The. US.
Face it Tyler, you lost.
Your gold is going nowhere. Even WWIII couldn't budge it. It's just another currency to be manipulated, and in the big scheme of currencies, it's small potatoes.
Got stock?
seems there are lots of buyers.
stock are made for selling.
Printing money can go on for EVA!!!!
I'm going to Zimbabweland!
yes.... I'm sure those invested in gold are intimidated by a profound post such as yours and are at this very moment quaking in their proverbial boots. I suggest you trot right out and buy some clownazzfiffer stocks like NFLX or AMZN and buy every fochin dip you can.....after all.....daddy's comin'
Funny thing is the Futures are not buying it...Oh and thanks for the Gold sale, in the End I still have real money.
"Good" jobs report = moar taper.
This is the ultimate in funny Doc, you know i almost feel bad for this guy Yellen. This long end is fighting the fed bigtime and the fed sees nirp as far as the eye can see. she is going to start having to actually reduce the balance sheet to try to force the long end up. I think it won't be long before Yellen is screaming at Obama to start sending some actual checks to actual people to get things moving.
Banks love that flat yield curve. The Bernank threw one hell of a party and now grandma got stuck with the mess. oh well I hope Zero sends me a bigger check than Bush did. Gold is a little more expensive now then it was back then.
"this guy yellen"
Dammit fonz I just wasted some perfectly good coffee.
why get a job when you can smoke weed all day and still get up to $60k a year in welfare benefits.
Hell Ya Homey. You'll never hear me complain about not having work. I've got my FAFSA and my EBT.
Why are so many not looking for jobs? because there aren't any to be had you stupid fucks.
@Dr. Engali
I got a job offer yesterday. Problem for Obama is that I'd be replacing someone. The other problem? I'm probably 3 times more expensive than the current job holder. No net gain in employment and my employer just took a margin hit. It's OK, I'll easily save him 3 times my pay after about 3 months....
Jobs that require work do not fit into the life plans of today's young adults.
As Colbert said a few years ago, "we need these mexicans to pick our produce because no edumicated American is going to do this back breaking work." Of course he was applauded for championing illegal immigrants because the sheeple don't want to understand the real message; Americans don't want to do real work and since slavery has been outlawed, you need to let the illegals in. Somebodies got to pick the cotton, err, I mean strawberries.
Work?
Millennials and now "Homelanders" (2004-2025?) are becoming little versions of the Hunchback of Notre Dame, from staring into their phones all day. Keeping your neck at that angle creates serious musculoskeletal imbalances in the neck and shoulders.
I tell ya Doc, I no longer blame the politicians and gov't "workers" who manipulate, package, and sell this tripe. All of America's problems rest soley on the shoulders of we the people. How any large group of so called eductaed people sit by and put up with this crap without going completely postal is truly mind blowing. It's true many of us have read enough history to know all these tricks have been pulled before (many times) but watching it go down before ones own eyes vs reading about it in books is simply an astonishing thing. Obama has a 41% favorable rating...41%! That is nothing short of astounding. Now a days I look at people much differently than in my youth. I no longer give folks the benefit of the doubt. I just assume they are dumber than a brick and most times I am correct. That fact makes me sad.
Hey, I would hazard that a "real" poll would show The Queen's actual approval at about 30%.
lower
Sorry, that is not entirely true.
There are jobs, and many will not take them for a variety of reasons.
Also, there is a serious mismatch between skills and applicants. Low or unskilled labor is getting massacred. Not surprising given the quality of our education system and the over-supply world-wide of unskilled people.
sschu
In other news, Tractor Production in Siberia is at record highs, comrades.
+234K jobs on BLS birth death adjustment and 1million dropped out of the labor force........HAPPY DAYS ARE HERE AGAIN, THE SKIES ABOVE ARE CLEAR AGAIN!!!!
6.3% is rather hilarious considering the u6 is still 11.8% and the reality is closer to 20%, but feel free to slam the bond mkt...the delusion of the century folks
My guess was about 20% actual unemployment.
Central-State planning has destroyed the markets.
Holy crap!. I just got a push notice from CNBS that futures were down due to jobs participation conecern. WTF is up with that? They never look deeper than the headline.
No worries...Cramer just said he's "not looking through the number. It's good"
Thumbs up if you are working
Down if you are unemployed
USD/JPY taking control of stocks again.
Thats like the population of Australia, the UK and New Zealand out of work...yip green shoots all around...party time
WHAT THE FUCK IS WRONG WITH YOU PEOPLE??? No one needs to work. We can just live off each other and borrow the difference. Long ink and paper. (sarc)
It worked in Ireland 2000-2008 - no economy to speak of, just kept on selling houses to each other and living the high life..... unfortunately, reality kicked in in 2008 and most house prices went down by about 75% in a matter of months. FUBAR'd all round.
Your statement is not sarcastic... It is reality.
Props to Kyle Bass for predicting this and getting the timing correct. Wonder if any of his other predictions will come true?
Any of you kentucky people get to see the black ops helicopters flying around your area with no lights last night "keeping you safe"?
http://www.700wlw.com/articles/local-news-119585/yes-those-were-black-op...
my folks live by Lunken....I'll get an update. There all kinds of military and "official" planes and choppers taking off from there.
northern suburban detroit last nite.........
All setting up perfectly for the great reset of the USA.
The drop in labor force is actually just recognizing the simple fact that -
many folks that have been listed as - unemployed & counted as in the work force - just because they were getting an unemployment check have stopped being counted because congress didn't extend the unemployment payments.
I wonder how many of the people that have not found a job in the last 6 months while collecting a check - really want a job?
I am not saying a low participation rate is a good thing - just that these people (many of them) have not been part of the work force for a long time.
Now they can get on disability.
This has interesting political impications. Low Info Voters see the sham Unemployment rate go down, which helps Obama and Democrats.
Unemployment rate decrease in part due to Unemployment benefits being stopped.
Will R's see this and turn on UE benefits again for pure political reasons?
Well lets see...
I don't have a "job", and I don't want a "job". Typical job around here pays $12/hr. Minus taxes/medical/EI... that leaves $9/hr, or $360/week. 2 kids in daycare = $300/week. Transportation = $60/week
Do you any problems with this employment scenario???
I had many people quit their jobs when they lost day care -
maybe grandma decides she is too old to care for 5 grandkids 3 of which are still in diapers
Mom looks at putting the kids in day care and discovered it will cost her more than she is making.
Do you think I should have said - OH wait - I will raise your pay from $12 up to $40 an hour so you can afford day care?
People make choices - having a child is a big one - having a few kids when you can't afford to even take care of yourself is a financial mistake.
I have no solution for this situation - but don't see it as an employment problem.
My Grandparents raised 14 children on a single income (with zero social assistance) - obviously not easy, but not impossible.
Now, it is impossible to raise 2 children on a single average income. It is absolutely obvious that average pay cannot remain at $12/hr and still have any kind of sustainable society. But that's okay - who needs sustainable when you have imported slave labour?
thank you .gov for all your endless wisdom
<end rant>