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One Million People Dropped Out Of Labor Force In April: Participation Rate Plummets To Lowest Since 1978

Tyler Durden's picture




 

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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Fri, 05/02/2014 - 08:56 | 4719546 Haus-Targaryen
Haus-Targaryen's picture

BUT LOOK!  THE S&P IS AT ALL TIME HIGHS!  SURELY THE MARKET MUST BE DOING GREAAAAT!

Fri, 05/02/2014 - 08:59 | 4719569 Shocker
Shocker's picture

1 Million dropped out of the market, wow that is sad

Job Situation: http://www.dailyjobcuts.com

 

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Fri, 05/02/2014 - 09:00 | 4719573 Haus-Targaryen
Haus-Targaryen's picture

Who cares!?  

Stimulus!

 

Pretty soon they will all be drafted to go fight the Russians and will be employed again. 

Fri, 05/02/2014 - 09:04 | 4719605 Xibalba
Xibalba's picture

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."

Fri, 05/02/2014 - 09:09 | 4719632 eclectic syncretist
eclectic syncretist's picture

If this trend continues we'll eventually have 0% unemployment, but no one with a job!  WTF is up with that??!!!

Fri, 05/02/2014 - 09:13 | 4719654 GetZeeGold
GetZeeGold's picture

 

 

It's hope and change silly.

 

Too much more of this.....and we're all gonna die.

Fri, 05/02/2014 - 09:18 | 4719681 NoDebt
NoDebt's picture

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. 

Fri, 05/02/2014 - 09:23 | 4719715 negative rates
negative rates's picture

It's worse than that, it's the underground economy, and they don't pay taxes at all.

Fri, 05/02/2014 - 09:33 | 4719756 Keyser
Keyser's picture

And all he talking heads can spew is what a monster 288K number was added to the workforce... Pathetic... 

 

Fri, 05/02/2014 - 09:46 | 4719811 MillionDollarBonus_
MillionDollarBonus_'s picture

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.

Fri, 05/02/2014 - 09:54 | 4719837 nope-1004
nope-1004's picture

Tears of laughter, my blind friend.  1 million.  Wow.  Just 'frikin' wow.

 

 

Fri, 05/02/2014 - 10:02 | 4719891 Slave
Slave's picture

I know how we can get everybody working again....institute the draft and let's go FUCK UP RUSSIA!!!!

Fri, 05/02/2014 - 10:06 | 4719905 toady
toady's picture

Tune in, turn on, drop out.

Fri, 05/02/2014 - 10:30 | 4720008 Four chan
Four chan's picture

santellis jumping around in a cave is a good analogy.

Fri, 05/02/2014 - 10:21 | 4719958 rubiconsolutions
rubiconsolutions's picture

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”

Fri, 05/02/2014 - 14:20 | 4721159 daveO
daveO's picture

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. 

Fri, 05/02/2014 - 09:53 | 4719840 Blano
Blano's picture

Where the hell you been?  I actually miss your schtick.

Fri, 05/02/2014 - 09:54 | 4719847 Haus-Targaryen
Haus-Targaryen's picture

I would love to get a beer with you. 

Fri, 05/02/2014 - 09:57 | 4719864 RougeUnderwriter
RougeUnderwriter's picture

Do you work for CNN or MSNBC?

Fri, 05/02/2014 - 10:35 | 4720037 earnyermoney
earnyermoney's picture

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. 

Fri, 05/02/2014 - 10:52 | 4720139 Georgia_Boy
Georgia_Boy's picture

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!

Fri, 05/02/2014 - 09:35 | 4719762 old naughty
old naughty's picture

Are they trying to smoke us, that outsourcing didn't matter.

Bad to 36 years ago, before outsourcing even started.

 

Fri, 05/02/2014 - 09:27 | 4719728 eclectic syncretist
eclectic syncretist's picture

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.

Fri, 05/02/2014 - 09:39 | 4719780 Oh regional Indian
Oh regional Indian's picture

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

Fri, 05/02/2014 - 10:10 | 4719921 toady
toady's picture

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.

Fri, 05/02/2014 - 10:27 | 4719987 Blano
Blano's picture

It's election season already.

Fri, 05/02/2014 - 09:33 | 4719754 what's that smell
what's that smell's picture

why do you hate the jobless so much?

why don't you go kick the dog for dessert?

Fri, 05/02/2014 - 09:36 | 4719767 GetZeeGold
GetZeeGold's picture

 

 

Did you get lost on your way to Huffpo?

Fri, 05/02/2014 - 09:36 | 4719769 SWCroaker
SWCroaker's picture

Maybe he hates the situation, for being created by a broken system, one that makes victims of both employeed and unemployeed?

Fri, 05/02/2014 - 09:44 | 4719799 V in PA
V in PA's picture

Two weeks and 6 days... I'm going with the HuffPo troll theory.

Fri, 05/02/2014 - 09:54 | 4719843 -.-
-.-'s picture

........^^^^^^^^^^^^^^^^^^........

 

Okay...who the fuck is this emotionally unbalanced yokel? God damn, this site needs a "cleansing" nearly as bad as Christie's colon.

Fri, 05/02/2014 - 10:14 | 4719932 Drifter
Drifter's picture

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.

Fri, 05/02/2014 - 13:38 | 4720928 SeattleBruce
SeattleBruce's picture

While you're at it - don't say anything ever, and shut down ZH, 'cause it's all meaningless!

Fri, 05/02/2014 - 09:22 | 4719706 negative rates
negative rates's picture

That's your crazy mind working in overtime.

Fri, 05/02/2014 - 09:31 | 4719748 SoDamnMad
SoDamnMad's picture

It's the new math they are teaching in the schools and colleges.

Fri, 05/02/2014 - 09:44 | 4719804 Common_Cents22
Common_Cents22's picture

But the 0% will have to pay their fair share!

Fri, 05/02/2014 - 10:39 | 4720058 yogibear
yogibear's picture

"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.

Fri, 05/02/2014 - 13:49 | 4720985 SeattleBruce
SeattleBruce's picture

Til they say, "No moar!", and then the Murikan Dream will be No Moar.

Fri, 05/02/2014 - 09:09 | 4719636 pods
pods's picture

Of the 280k jobs, 83% are from BD adjustment.

1 million left the labor force.

Participation rate @1978 levels.

#Winning

 

Fri, 05/02/2014 - 09:25 | 4719720 tarsubil
tarsubil's picture

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.

Fri, 05/02/2014 - 09:30 | 4719746 pods
pods's picture

My fear is those 1 million still gotta eat and the government seems to print what it needs to feed them.

pods

Fri, 05/02/2014 - 09:43 | 4719796 tarsubil
tarsubil's picture

Let them eat fiat! I got it! Chocolate flavored Federal Reserve Notes! Genius!

Fri, 05/02/2014 - 09:46 | 4719810 V in PA
V in PA's picture

But Chocolate flavoring has value. Who is gonna pay for that?

Fri, 05/02/2014 - 10:21 | 4719954 tarsubil
tarsubil's picture

Artificial flavoring made from toxic waste! You'll get paid for disposal/flavoring notes! Win-win!

Fri, 05/02/2014 - 10:53 | 4720153 Overfed
Overfed's picture

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.

Fri, 05/02/2014 - 11:00 | 4720181 Georgia_Boy
Georgia_Boy's picture

Heh, maybe once we can't afford paper anymore, we'll have soylent Federal Reserve notes.

Fri, 05/02/2014 - 09:46 | 4719812 pods
pods's picture

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

Fri, 05/02/2014 - 09:34 | 4719760 what's that smell
what's that smell's picture

or having sex with pregnant women as a form of birth control.

Fri, 05/02/2014 - 10:47 | 4720113 Blano
Blano's picture

Is that a bad thing?

Fri, 05/02/2014 - 09:28 | 4719731 El Oregonian
El Oregonian's picture

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.

Fri, 05/02/2014 - 09:04 | 4719609 Headbanger
Headbanger's picture

Yeah but none of em will pass the physical !

Fri, 05/02/2014 - 10:00 | 4719639 Haus-Targaryen
Haus-Targaryen's picture

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 )

 

Fri, 05/02/2014 - 09:07 | 4719630 Two-bits
Two-bits's picture

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.

Fri, 05/02/2014 - 09:02 | 4719592 overmedicatedun...
overmedicatedundersexed's picture

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.

Fri, 05/02/2014 - 09:41 | 4719784 Eternal Complainer
Eternal Complainer's picture

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

Fri, 05/02/2014 - 09:05 | 4719614 Stoploss
Stoploss's picture

Barry Soetoro:

You're Fired..........

Box up you're shit and get the fuck out of the buikding...............

Fri, 05/02/2014 - 09:12 | 4719650 sodbuster
sodbuster's picture

He ain't got no shit- it's all shit he got from other folks. He is more worthless than tits on a bull.

Fri, 05/02/2014 - 09:15 | 4719670 GetZeeGold
GetZeeGold's picture

 

 

5 years in and we still don't really know anything about this guy.

Fri, 05/02/2014 - 09:19 | 4719694 sodbuster
sodbuster's picture

Thank you MSM for not doing their job. They have their nose so far up Barry's ass, they can't see straight.

Fri, 05/02/2014 - 09:28 | 4719736 BeetleBailey
BeetleBailey's picture

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....

Fri, 05/02/2014 - 10:20 | 4719955 corporatewhore
corporatewhore's picture

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

Fri, 05/02/2014 - 10:37 | 4720033 RafterManFMJ
RafterManFMJ's picture

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.

Fri, 05/02/2014 - 09:45 | 4719805 A Nanny Moose
A Nanny Moose's picture

You didn't milk that...

Fri, 05/02/2014 - 09:25 | 4719722 BustainMovealota
BustainMovealota's picture

He never should of been "hired" in the first place.

Fri, 05/02/2014 - 09:37 | 4719774 pelican
pelican's picture

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. 

Fri, 05/02/2014 - 09:00 | 4719574 y3maxx
y3maxx's picture

...Are the Men and Women in America's Military part of the "employed"?

just askin

Fri, 05/02/2014 - 09:41 | 4719637 Cursive
Cursive's picture

@y3maxx

No.

 

ETA:  What fucking idiot downvoted that?  Here's your answer:

http://www.bls.gov/ces/cesfaq.htm

 

BLS is unable to quantify the impact of reservists being called to active duty in CES employment figures. In concept, persons on active military duty for the entire survey reference period are not included on employer payrolls. Some reservists hold jobs not covered by the payroll survey — such as the self-employed or those in agriculture — and others may not hold jobs at all. Any reservist who worked for or received pay from their regular employer during the survey reference period is counted on the employer's payroll. If reservists are replaced by new employees on an employer's payroll during the pay period including the 12th of the month, there is no net change in the number of jobs counted. If reservists are not replaced, a net decline in the employer's job count results. If a reservist and a replacement employee for the reservist each worked at any time during the same reference pay period, they are counted as two employees.

Government employment includes only civilian employees. Military personnel on active duty are excluded. Employees of the Central Intelligence Agency, the National Security Agency, the National Imagery and Mapping Agency, and the Defense Intelligence Agency also are excluded.

Fri, 05/02/2014 - 09:51 | 4719834 V in PA
V in PA's picture

Maybe it was a vote for 'No' ;)  

You did kind of word it like a survey.

Fri, 05/02/2014 - 09:45 | 4719809 Common_Cents22
Common_Cents22's picture

America has been liberated from JOB LOCK!!!!

Fri, 05/02/2014 - 09:57 | 4719860 failure to perform
failure to perform's picture

This story is being heavily censored. Can't even share it. Keep getting errors and page not found.

Fri, 05/02/2014 - 08:57 | 4719552 So Close
So Close's picture

Soon to be another non-essential, non-tracked, non-reported number except at shadowstats.

Fri, 05/02/2014 - 08:56 | 4719553 fonzannoon
Fri, 05/02/2014 - 09:12 | 4719653 NoDebt
NoDebt's picture

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.

Fri, 05/02/2014 - 09:24 | 4719717 RSloane
RSloane's picture

OMG Wal Mart of the future!

Fri, 05/02/2014 - 08:57 | 4719561 the not so migh...
the not so mighty maximiza's picture

they will get the number down to 0% unemployed by the election

Fri, 05/02/2014 - 09:01 | 4719568 Haus-Targaryen
Haus-Targaryen's picture

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.

Fri, 05/02/2014 - 09:09 | 4719633 Carnegie_IB
Carnegie_IB's picture

CNBC is still on the air? TV is so old fashioned. 

Fri, 05/02/2014 - 09:17 | 4719677 Haus-Targaryen
Haus-Targaryen's picture

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. 

 

Fri, 05/02/2014 - 09:15 | 4719669 gatorengineer
gatorengineer's picture

I think you hit it on the head, low unemployment is needed for immigration reform....

Fri, 05/02/2014 - 08:58 | 4719562 thesoothsayer
thesoothsayer's picture

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.

Fri, 05/02/2014 - 08:59 | 4719575 Winston Churchill
Winston Churchill's picture

You make a compelling argument.
This tax donkey is getting tired,where do I sign up ?

Fri, 05/02/2014 - 09:43 | 4719795 eclectic syncretist
eclectic syncretist's picture

Yeah!  If everyone gets laid off or quits working, then unemployment will plunge to 0%.  Maybe that's the plan.

Fri, 05/02/2014 - 09:50 | 4719827 dontgoforit
dontgoforit's picture

I'd rather eat dirt.  Where's your pride, people?  Man up.  Damn.

Fri, 05/02/2014 - 10:49 | 4720127 RafterManFMJ
RafterManFMJ's picture

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.

Fri, 05/02/2014 - 11:25 | 4720316 Tall Tom
Tall Tom's picture

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.

Fri, 05/02/2014 - 09:29 | 4719739 BustainMovealota
BustainMovealota's picture

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!

Fri, 05/02/2014 - 09:47 | 4719813 A Nanny Moose
A Nanny Moose's picture

Will they have beer at FEMA camps?

Fri, 05/02/2014 - 10:07 | 4719907 Buckaroo Banzai
Buckaroo Banzai's picture

Your choice of Natty Light or... Natty Light.

Fri, 05/02/2014 - 10:45 | 4720101 sschu
sschu's picture

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 

Fri, 05/02/2014 - 10:54 | 4720155 RafterManFMJ
RafterManFMJ's picture

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?

Fri, 05/02/2014 - 10:58 | 4720175 sschu
sschu's picture

You sound like a 49ers fan .... or Broncos.

Fri, 05/02/2014 - 11:01 | 4720187 Overfed
Overfed's picture

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.

Fri, 05/02/2014 - 11:11 | 4720246 plane jain
plane jain's picture

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.

Fri, 05/02/2014 - 11:56 | 4720483 sschu
sschu's picture

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

 

 

Fri, 05/02/2014 - 08:58 | 4719564 ...out of space
...out of space's picture

another 1M people BTFD so they dont  need for work. its calld welth effect

Fri, 05/02/2014 - 09:01 | 4719585 d edwards
d edwards's picture

There are lies, damned lies, and gov't statistics!

Fri, 05/02/2014 - 09:17 | 4719684 youngman
youngman's picture

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....

Fri, 05/02/2014 - 09:25 | 4719724 negative rates
negative rates's picture

It was mom and dad who spent that last bid in 3 years, something aint right about her inheritance.

Fri, 05/02/2014 - 08:59 | 4719576 monopoly
monopoly's picture

And gold silver bounce back. Maybe the idiots are not as stupid as I thought.

Fri, 05/02/2014 - 09:19 | 4719697 CrimsonAvenger
CrimsonAvenger's picture

Actually, they're much, much stupider than you can imagine.

Fri, 05/02/2014 - 08:59 | 4719577 buzzsaw99
buzzsaw99's picture

BONUS TIME!!

Fri, 05/02/2014 - 09:02 | 4719590 buzzsaw99
buzzsaw99's picture

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!!

Fri, 05/02/2014 - 09:12 | 4719657 TheFourthStooge-ing
TheFourthStooge-ing's picture

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.

Fri, 05/02/2014 - 10:54 | 4720144 Frank N. Beans
Frank N. Beans's picture

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? 

 

Fri, 05/02/2014 - 09:17 | 4719680 Falconsixone
Falconsixone's picture

The good news is no one's watching.

Fri, 05/02/2014 - 09:02 | 4719595 pods
pods's picture

GD Creative Mobiles!

pods

Fri, 05/02/2014 - 09:03 | 4719597 wagthetails
wagthetails's picture

how else do you goalseek unemployment rate?

Fri, 05/02/2014 - 09:03 | 4719598 Space Animatoltipap
Space Animatoltipap's picture

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.

Fri, 05/02/2014 - 09:03 | 4719599 Flux
Flux's picture

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?

 

Fri, 05/02/2014 - 09:05 | 4719618 Carnegie_IB
Carnegie_IB's picture

seems there are lots of buyers. 

 

stock are made for selling. 

Fri, 05/02/2014 - 09:19 | 4719679 GetZeeGold
GetZeeGold's picture

 

 

Printing money can go on for EVA!!!!

 

I'm going to Zimbabweland!

Fri, 05/02/2014 - 09:07 | 4719627 kliguy38
kliguy38's picture

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'

Fri, 05/02/2014 - 09:11 | 4719647 Bill of Rights
Bill of Rights's picture

Funny thing is the Futures are not buying it...Oh and thanks for the Gold sale, in the End I still have real money.

Fri, 05/02/2014 - 09:11 | 4719652 Dr. Engali
Dr. Engali's picture

"Good" jobs report = moar taper.

Fri, 05/02/2014 - 09:20 | 4719699 fonzannoon
fonzannoon's picture

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.

Fri, 05/02/2014 - 09:31 | 4719737 Dr. Engali
Dr. Engali's picture

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.

Fri, 05/02/2014 - 10:40 | 4720065 Blano
Blano's picture

"this guy yellen"

Dammit fonz I just wasted some perfectly good coffee.

Fri, 05/02/2014 - 09:04 | 4719607 Carnegie_IB
Carnegie_IB's picture

why get a job when you can smoke weed all day and still get up to $60k a year in welfare benefits.  

Fri, 05/02/2014 - 09:04 | 4719610 q99x2
q99x2's picture

Hell Ya Homey. You'll never hear me complain about not having work. I've got my FAFSA and my EBT.

Fri, 05/02/2014 - 09:05 | 4719612 Dr. Engali
Dr. Engali's picture

Why are so many not looking for jobs? because there aren't any to be had you stupid fucks.

Fri, 05/02/2014 - 09:13 | 4719660 Cursive
Cursive's picture

@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....

Fri, 05/02/2014 - 09:15 | 4719671 insanelysane
insanelysane's picture

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.

Fri, 05/02/2014 - 09:30 | 4719745 edifice
edifice's picture

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.

Fri, 05/02/2014 - 09:40 | 4719782 graneros
graneros's picture

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.

Fri, 05/02/2014 - 10:13 | 4719930 lakecity55
lakecity55's picture

Hey, I would hazard that a "real" poll would show The Queen's actual approval at about 30%.

Fri, 05/02/2014 - 10:23 | 4719967 IridiumRebel
IridiumRebel's picture

lower

Fri, 05/02/2014 - 10:50 | 4720131 sschu
sschu's picture

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

Fri, 05/02/2014 - 09:05 | 4719615 Quintus
Quintus's picture

In other news, Tractor Production in Siberia is at record highs, comrades.

Fri, 05/02/2014 - 09:09 | 4719638 Goggles Pisano
Goggles Pisano's picture

+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!!!!

Fri, 05/02/2014 - 09:09 | 4719640 PlusTic
PlusTic's picture

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

Fri, 05/02/2014 - 10:11 | 4719925 lakecity55
lakecity55's picture

My guess was about 20% actual unemployment.

Central-State planning has destroyed the markets.

Fri, 05/02/2014 - 09:10 | 4719648 Dr. Engali
Dr. Engali's picture

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.

Fri, 05/02/2014 - 09:12 | 4719655 NDXTrader
NDXTrader's picture

No worries...Cramer just said he's "not looking through the number. It's good"

Fri, 05/02/2014 - 09:13 | 4719662 lordbyroniv
lordbyroniv's picture

Thumbs up if you are working 

 

Down if you are unemployed

Fri, 05/02/2014 - 09:14 | 4719666 Ness.
Ness.'s picture

USD/JPY taking control of stocks again.

Fri, 05/02/2014 - 09:16 | 4719673 Matt_Master
Matt_Master's picture

Thats like the population of Australia, the UK and New Zealand out of work...yip green shoots all around...party time

Fri, 05/02/2014 - 09:16 | 4719675 F em all but 6
F em all but 6's picture

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)

Fri, 05/02/2014 - 09:26 | 4719726 PR Guy
PR Guy's picture

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.

Fri, 05/02/2014 - 10:50 | 4720133 forwardho
forwardho's picture

Your statement is not sarcastic... It is reality.

Fri, 05/02/2014 - 09:17 | 4719685 ssp2s
ssp2s's picture

Props to Kyle Bass for predicting this and getting the timing correct.  Wonder if any of his other predictions will come true?

Fri, 05/02/2014 - 09:20 | 4719687 Dr. Engali
Dr. Engali's picture

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...

Fri, 05/02/2014 - 10:22 | 4719952 IridiumRebel
IridiumRebel's picture

my folks live by Lunken....I'll get an update. There all kinds of military and "official" planes and choppers taking off from there. 

Fri, 05/02/2014 - 10:25 | 4719978 Edward1290
Edward1290's picture

northern suburban detroit last nite.........

Fri, 05/02/2014 - 09:22 | 4719712 BustainMovealota
BustainMovealota's picture

All setting up perfectly for the great reset of the USA.

Fri, 05/02/2014 - 09:35 | 4719723 all-priced-in
all-priced-in's picture

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.

 

 

  

Fri, 05/02/2014 - 09:35 | 4719763 eucalyptus
eucalyptus's picture

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? 

Fri, 05/02/2014 - 09:38 | 4719766 actionjacksonbrownie
actionjacksonbrownie's picture

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???

Fri, 05/02/2014 - 09:56 | 4719845 all-priced-in
all-priced-in's picture

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.  

 

 

Fri, 05/02/2014 - 10:41 | 4720073 actionjacksonbrownie
actionjacksonbrownie's picture

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>

 

 

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