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St. Louis Fed's "Not In Labor Force" Data Is Now Officially Off The Chart

Tyler Durden's picture


The comedy continues: the April "Not in labor force" seasonally adjusted print: 88,419,000. And yet, the maximum reading permitted by St Louis Fed Not in Labor Force (LNS15000000) graph: 88,000,000. The data has now officially dropped off the chart. No further commentary necessary.


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Fri, 05/04/2012 - 09:22 | 2396496 Death and Gravity
Death and Gravity's picture

I predict markets will melt up today.

Fri, 05/04/2012 - 09:26 | 2396522 giovanni_f
giovanni_f's picture

Relax. There is nothing to "melt up". No "markets" left in the US, just casinos run by squids.

Fri, 05/04/2012 - 09:40 | 2396608 Oh regional Indian
Oh regional Indian's picture

Anyone who does not believe in the "Deep Manipulation of Everything" theories just needs to see stuff like this and figure...

Things have become so bad and still only squeaks of revolt. re-volt...hmmmmmm...english the mind-duck. Re-volt is to re-charge?

Anyways, somewhere is a model of almost Asimovian, Foundational, pre-historical complexity, mapping all these vectors to know exactly how much pain a dumbed down population will take.

Lithium in the water supply folks. Coming soon to a municipality near you.


Fri, 05/04/2012 - 09:58 | 2396692 V in PA
V in PA's picture

This is weak. A chart representing 'percent of population' not in work force is more accurate. This chart says nothing.

Fri, 05/04/2012 - 10:00 | 2396706 Oh regional Indian
Oh regional Indian's picture

Well V, it does say something. In fact it screams "OFF THE CHARTS"

to me anyways.



Fri, 05/04/2012 - 10:33 | 2396774 The Big Ching-aso
The Big Ching-aso's picture



Pretty soon the only people left in the Labor Force will be women ready to deliver.

Fri, 05/04/2012 - 10:53 | 2396916 toady
toady's picture

I know, how stupid is that?

Whoever put that chart out needs to be fired! Whoever approved the distribution of that chart needs to be fired! Whoever manages that group needs to be fired! I mean, how difficult is it to take a couple of rows of the bottom and add them to the top? Those @##$%% @%&&*+ @$+-*%%!

That's what the Bernank must be saying as he paces back and forth in his office...

Fri, 05/04/2012 - 13:27 | 2397460 MarsInScorpio
MarsInScorpio's picture

The more meaningful commentary on the chart, using your observation, is to ask, "What does this say about the quality of person employed at the FED?"


Fri, 05/04/2012 - 10:28 | 2396831 Stoploss
Stoploss's picture



Spit it out..

When you get that figured out, be sure to post it.

Fri, 05/04/2012 - 12:32 | 2397222 V in PA
V in PA's picture

Labor Force Participation Rate:


Adjust for year at the top of the page.

Edit: Original link was bad

Fri, 05/04/2012 - 09:28 | 2396531 GetZeeGold
GetZeeGold's picture



A little good news.....we have one job opening for a new chart maker.


Fri, 05/04/2012 - 09:38 | 2396596 midtowng
midtowng's picture

I'm predicting a negative unemployment rate in the future.

Fri, 05/04/2012 - 09:53 | 2396676 StychoKiller
StychoKiller's picture

Semi-log paper isn't even necessary yet, total FAIL!

Fri, 05/04/2012 - 10:36 | 2396855 Carl Spackler
Carl Spackler's picture

This chart furtherlegitimizes Ron Paul's argument in the FT yesterday about central bankers!

Fri, 05/04/2012 - 11:22 | 2397023 fockewulf190
fockewulf190's picture

Lol, that job has now been eliminated and replaced by a 99 weeker.

Fri, 05/04/2012 - 13:55 | 2397568 Mentaliusanything
Mentaliusanything's picture

jeez how hard is it to change the left side writing to "Hundreds of Thousands" 

And while their at it send silver bearded Chairman a cup cake sprinkiled with them.

Hope they choke him

Fri, 05/04/2012 - 09:42 | 2396616 SeverinSlade
SeverinSlade's picture

What happens when the total # of people not in the labor force EXCEEDS the total US population?

Perhaps that's what caused the big bang?

Fri, 05/04/2012 - 09:48 | 2396646 sunaJ
sunaJ's picture

That can't happen, but what can happen is the "unemployment rate" can drop to zero with virtually everyone out of work. 

Fri, 05/04/2012 - 10:05 | 2396722 SeverinSlade
SeverinSlade's picture

You underestimate the sheer retardedness of the US government.

Fri, 05/04/2012 - 09:22 | 2396498 brewing
brewing's picture

just getting laughable at this point.  where's MDB...

Fri, 05/04/2012 - 09:36 | 2396582 Hippocratic Oaf
Hippocratic Oaf's picture

MDB will show. Where the hell is ROboT tRaDEr?

Fri, 05/04/2012 - 10:15 | 2396764 Zero Debt
Zero Debt's picture

Both dropped out of the labor force to study exponential functions.

Fri, 05/04/2012 - 10:28 | 2396834 Dr. Engali
Dr. Engali's picture

Robo got ejected,along with a few other trolls.

Fri, 05/04/2012 - 12:22 | 2397233 Zymurguy
Zymurguy's picture

Wha???  Hopefully Robo wasn't booted... I never really considered him a troll.  I think maybe a little misguided but I don't think he was purposely posting here to be an asshole... unlike MDB.  Although MDB, in certain quantities was good for some comic relief.

Fri, 05/04/2012 - 09:24 | 2396506 Jendrzejczyk
Jendrzejczyk's picture

Humorous, but tragically so.

Fri, 05/04/2012 - 09:25 | 2396508 Caviar Emptor
Caviar Emptor's picture

I'm leaving this labor force before it's too late and everybody's leaving. 

I'll bring the beer. 

Fri, 05/04/2012 - 09:39 | 2396605 AL_SWEARENGEN

Charts, much like the money supply are easily expandable.

Fri, 05/04/2012 - 09:50 | 2396658 nonclaim
nonclaim's picture

Until it runs out of people... or will they apply the keynesian multiplier here too?

Fri, 05/04/2012 - 09:24 | 2396509 Cursive
Cursive's picture

I'm thinking that Joe Brusca is re-thinking his assualt on Charles Biderman.

Fri, 05/04/2012 - 09:30 | 2396535 giovanni_f
giovanni_f's picture

Bruschetta - re-what? People with a mission/agenda are caged in belief systems that are resistant to facts.

Fri, 05/04/2012 - 11:20 | 2397015 NotApplicable
NotApplicable's picture

Re-thinking? That statement contains implications that are simply not true.

Fri, 05/04/2012 - 09:25 | 2396512 the not so migh...
the not so mighty maximiza's picture

We need a bigger chart

Fri, 05/04/2012 - 09:38 | 2396593 agNau
agNau's picture

With a big enough chart, there will be no change.

Fri, 05/04/2012 - 09:41 | 2396613 mayhem_korner
mayhem_korner's picture



Eh, Chiefy?

This Chart, swallow ya whole...little shakin, little tenderizing, and down ya go... For ten thousand bucks, I'll bring ya the head, the tail, the whole damn chart.  (Quint, Jaws)

Fri, 05/04/2012 - 10:03 | 2396713 Pinktip
Pinktip's picture

Love Jaws....


"You'll ignore this problem until it swims up and bites you in the ass!" ....Hooper to Mayor.

The line I reference when trying to wake up friends and family.......:)

Fri, 05/04/2012 - 09:25 | 2396516 surf0766
surf0766's picture

Green shoots. We are buyers of equities here.

Fri, 05/04/2012 - 09:25 | 2396518 Caviar Emptor
Caviar Emptor's picture

I theenk we need a beeger chart

Fri, 05/04/2012 - 09:31 | 2396559 Cursive
Cursive's picture

@Cavier Emptor

I'm looking at it again and thinking "Thelma and Louise"....

Fri, 05/04/2012 - 10:21 | 2396789 ViewfromUnderth...
ViewfromUndertheBridge's picture

Here you go[1][id]=LNS15000000

Fred reads Zero Hedge, fixed already...well kinda.

Fri, 05/04/2012 - 12:26 | 2397239 Zymurguy
Zymurguy's picture

Just like the credit ceiling... heck, just pop the top off that bitch and eliminate the ceiling, roof and the whole goddamn stops altogether.  Turn the machines back on!!!  Print baby print and blow this bitch up so we can get on to fixing the system by starting over and making fiat, fractional reserve, etc. illegal.

Fri, 05/04/2012 - 09:25 | 2396521 Change-In-Trend
Fri, 05/04/2012 - 09:27 | 2396523 laomei
laomei's picture

I like how it's climbing even faster during the "recovery" than it was during the "recession".  It's almost as if there was no recovery at all and it's really just a prolonged depression with no real end in sight.



Remember kiddies, once they get that number low enough, they can go all austerity again with unemployment benefits.  Once it falls under a certain threshhold, the emergency funding goes away. and back to 26 weeks you all go.

Fri, 05/04/2012 - 09:28 | 2396539 surf0766
surf0766's picture

26 is all there should have been to start with. We made a whole group of people lazy and unemployable

Fri, 05/04/2012 - 09:32 | 2396563 SeverinSlade
SeverinSlade's picture

How about 0 weeks instead?

Eliminate the criminal IRS, unconstitutional income and property taxes, and return to this country back to its founding principals.  Charity isn't charity when it's forced with a gun.

And to any idiot that says that us freedom loving Patriots are "heartless" for not wanting to have our private property stolen via taxation, I pose this question:  How much more likely would be to donate money to a worthy charity or give a loan to a friend or family member in need if you paid zero income or property taxes? 

Also, charity should never be given to receive a reward (i.e. a tax break). 

Fri, 05/04/2012 - 10:52 | 2396912 Almost Solvent
Almost Solvent's picture

Agreed, but those sucking on our tits outnumber us and we can't outvote them.


Everyone is waiting for those on the public teet to revolt first, but I firmly suggest that it is those whose teet is being sucked dry will have to be the ones to revolt first, otherwise the tits will dry up sooner rather than later.

Fri, 05/04/2012 - 10:59 | 2396942 Ying-Yang
Ying-Yang's picture

Are you saying Tit for Tat?

Fri, 05/04/2012 - 09:45 | 2396629 agNau
agNau's picture

With guns

And future unemployment extensions on the way. Unemployment under 8%...Mission Accomplished!......strike that......"Hope and Change in your pocket"!

Fri, 05/04/2012 - 09:28 | 2396544 SeverinSlade
SeverinSlade's picture

Oh boy, just imagine how this country will be if the maximum UI benefits returns to 26 weeks...How will anyone be able to afford all of the iGarbage?

Fri, 05/04/2012 - 09:26 | 2396524 alexwest
alexwest's picture

nice catch


Fri, 05/04/2012 - 09:27 | 2396534 alexwest
alexwest's picture

will last one please switch the lights off?


Fri, 05/04/2012 - 09:27 | 2396537 SeverinSlade
SeverinSlade's picture

From CTRL-P to CTRL-E.

"We're going to need a bigger graph."

Fri, 05/04/2012 - 09:30 | 2396550 Alex Lionson
Alex Lionson's picture

It is not even funny anymore...

Fri, 05/04/2012 - 10:15 | 2396769 Zero Debt
Zero Debt's picture


Fri, 05/04/2012 - 09:31 | 2396553 Manthong
Manthong's picture

This would have me worried were it not for all those new businesses they say are being started up.

It's a good thing the government is right there with helpful regulations, taxes and mandates to encourage a new dawn of entrepreneurshiip in this , the greatest nation in the world.. the birthplace of liberty.. the cradle of freedom.. 

I hear TSA is hiring.

Fri, 05/04/2012 - 09:33 | 2396571 SeverinSlade
SeverinSlade's picture

Seriously...Businesses have to PAY the government to hire more workers thanks to social security and medicare...all while being big brother's most efficient tax collector (thank you tax withholding).

Fri, 05/04/2012 - 09:30 | 2396555 phalfa5
phalfa5's picture

Justin Wolfers  twit tweet  -  Since Jan 2009, the private sector has now created a net positive number jobs (+35K).  Public sector has cut 607K jobs. 



.... haven't seen his seasonally adjusted nubers yet ...


Fri, 05/04/2012 - 09:31 | 2396556 crawldaddy
crawldaddy's picture

Ladies in Gentleman I am here to inform you that the 6 americans that want a job, have a job, therefore I m proud to announce 100% employment in the USA.



Fri, 05/04/2012 - 09:32 | 2396564 Seditious Blasphemer
Seditious Blasphemer's picture

Im no economics expert, dont know all the lingo and such, but...

U.S. population being 313,000,000...
Not in workforce being 88,419,000...

Is that not a 35% unemployment rate, or is i an ignoramis?

Fri, 05/04/2012 - 09:34 | 2396577 SeverinSlade
SeverinSlade's picture

I guess, if we're expecting all newborns and children to be part of the workforce lol.

But yes, you have a valid point.  Fuck all of the "adjustments."  Give me the # of people that are technically part of the labor force.  Then compare that to the total number of jobs in this country.

Fri, 05/04/2012 - 09:42 | 2396618 Seditious Blasphemer
Seditious Blasphemer's picture

If those newborns and infants ever expect to pay off their $50,000+ "fair share" of the U.S. debt they incurred by being born in the United States of Prozac-istan here...

Then yes, they need to jump into the labor force without delay.

Fri, 05/04/2012 - 09:46 | 2396639 SeverinSlade
SeverinSlade's picture

I'd argue that kids should start applying for a job while in the womb.  Have to pay off their student loan somehow.

Fri, 05/04/2012 - 11:57 | 2397144 Omen IV
Omen IV's picture

I agree they need to have some skin in the game - maybe their foreskin would do as a down payment

Fri, 05/04/2012 - 11:04 | 2396957 toady
toady's picture

My oldest is turning 14 this month and the wife is on him to get a job... I keep telling her he legally can't until he's 16, but she doesn't care.

Fri, 05/04/2012 - 09:38 | 2396591 Comay Mierda
Comay Mierda's picture

Is that not a 35% unemployment rate, or is i an ignoramis?

you, sir, are a terrorist.

Fri, 05/04/2012 - 09:48 | 2396654 Seditious Blasphemer
Seditious Blasphemer's picture

Must. Click. Green. Arrow.

Could not stop myself from up-voting that for some inexplicable reason.

Fri, 05/04/2012 - 11:09 | 2396973 WAMO556
WAMO556's picture

I upticked you. The jocularity displayed was worth it. Just saying.

Fri, 05/04/2012 - 09:42 | 2396617 Global Hunter
Global Hunter's picture

children, retirees, unable to work etc. would be taken out of the 35% to get a true unemployment rate of people able and willing to work.  They're trying to baffle everybody with all these seasonal adjustments and birth/death IMO

Fri, 05/04/2012 - 09:45 | 2396628 DutchDude
DutchDude's picture

I'm not getting this chart? I though unemployment in the USA was about 10%

I'm confused :(

Fri, 05/04/2012 - 11:15 | 2396997 NotApplicable
NotApplicable's picture

They only count people as unemployed while drawing UE benefits.

Fri, 05/04/2012 - 09:48 | 2396650 realtick
realtick's picture

Infants and elderly are not expected to be employed.

The number you mean is called "Civilian noninstitutional population".

CNP = 242,784,000

NILF = 88,419,000

Unemp = 12,500,000

Total Out of Work = 100,919,000


Fri, 05/04/2012 - 09:32 | 2396569 youngman
youngman's picture

What is sad is that the Fed employ knows this...will hold a meeting..get a committiee together.....they will study it...come up with some ideas...make a plan...print a  big 200 page book...get some bids from minority owned firms...and then spend 100 million for someone to fix this graph.....

Fri, 05/04/2012 - 09:37 | 2396589 SeverinSlade
SeverinSlade's picture

But, but...This country would descend into total anarchy without the government being there to keep order and protect us!

Fri, 05/04/2012 - 09:41 | 2396615 youngman
youngman's picture

I was just thinking...maybe the Fed employee does not know......that is probably more like it...."back to coffee break..I did the stupid graph"

Fri, 05/04/2012 - 10:04 | 2396724 agNau
agNau's picture

Not until a committee is appointed to study the data and the findings are released, and distorted will anyone know........or would that be distorted and released.......and then redistorted by political hacks and re-redistorted information released to the media that cherry picks the sunny information for their fave .....and adds the negatives depending on the news needs of the market manipulators......
Never mind, I hear a set of new distorted revisions is on the way in a couple weeks.

Only When the sheeple hold a non functioning iPad in their hand, and their bellies are empty will they understand what is happening.

Fri, 05/04/2012 - 09:39 | 2396595 Vince Clortho
Vince Clortho's picture

Who should I mail my bid to?

Fri, 05/04/2012 - 09:34 | 2396576 Agent P
Agent P's picture

If this chart is correct, it can't get any worse from here.


Fri, 05/04/2012 - 09:36 | 2396583 marcusfenix
marcusfenix's picture

"you're off the edge of the map mate, here there be monsters."

Fri, 05/04/2012 - 10:22 | 2396796 Zero Debt
Zero Debt's picture

Remember those snake games in the 80s, when the snake hits the upper edge, it starts crawling in from the bottom

Fri, 05/04/2012 - 12:43 | 2397307 Liquid Courage
Liquid Courage's picture

OK, ya beat me to it.

Fri, 05/04/2012 - 09:41 | 2396614 Vince Clortho
Vince Clortho's picture

It's a new kinda chart showing that, at some point, the data ceased to exist.

Fri, 05/04/2012 - 09:45 | 2396631 mademesmile
mademesmile's picture

Chartmaker's thinking:

Once it gets to the top of the chart, it will balance on the edge then fall down the either side. Kinda like sailing off the edge of the world....

Fri, 05/04/2012 - 09:56 | 2396685 Seditious Blasphemer
Seditious Blasphemer's picture

Speaking of sailing....

Video = related :

Fri, 05/04/2012 - 12:40 | 2397295 Liquid Courage
Liquid Courage's picture

Here there be Dragons!

Fri, 05/04/2012 - 09:47 | 2396636 Wakanda
Wakanda's picture

OK, yesterday we had Ron Paul and Jim Grant given very good air time on the tube to criticize the Fed.

Today St. Louis Fed publishes "off the chart" unemployment.

Have I slipped into an alternative universe or is "something up"?

I can't remember so much honest information being shown to the sheeples.

Fri, 05/04/2012 - 10:00 | 2396702 Oh regional Indian
Oh regional Indian's picture

Wak, just wanted to tell you the Capacitor/DC/Far-a-day was brilliant!!!

And yup, the hockey stick is up.


Fri, 05/04/2012 - 10:04 | 2396719 mayhem_korner
mayhem_korner's picture

And yup, the hockey stick is up.


Umm...maybe try analogies that don't leave icky images in folks heads.

Fri, 05/04/2012 - 11:18 | 2397006 NotApplicable
NotApplicable's picture

FRED charts are hardly sheeple-feed. You can bet that CNBS will never show it.

Fri, 05/04/2012 - 09:46 | 2396637 AcidRastaHead
AcidRastaHead's picture

But scaling is so damn hard!

Fri, 05/04/2012 - 09:47 | 2396640 Backtable
Backtable's picture

I have to quit working. It's costing me too much.

Fri, 05/04/2012 - 14:59 | 2397743 HungrySeagull
HungrySeagull's picture

I have quit jobs in the past for precisely that reason

Fri, 05/04/2012 - 09:48 | 2396647 farmerjohn2112
farmerjohn2112's picture

According to the B(L)S's own stats, the working age population in 2010 (most recent numbers) of the US is/was ~ 238M. It's been a long time since I had high school math, but I'm pretty sure that 88.5M unemployed gives an effective rate of 37%.

Fri, 05/04/2012 - 10:00 | 2396701 Global Hunter
Global Hunter's picture

so they've created a bubble in birth/death adjustments and seasonal adjustments, say they should create some derivative products on these bubbles!  Shouldn't give them any ideas I suppose...

Fri, 05/04/2012 - 09:58 | 2396693 TapperIsTicked
TapperIsTicked's picture

Shouldn't the caption be "Just rose off the chart". The only thing I see failling is that train off the cliff.

Fri, 05/04/2012 - 09:59 | 2396700 TonyCoitus
TonyCoitus's picture

According to the US Census Bureau:

2011 population estimate            312,000,000

Persons under 18 years old (24%)  75,000,000

Persons over 65 years old (13%)    41,000,000

Persons between 18 and 65         196,000,000


Soooo, 45% of USA population between the age of 18 and 65 are not in the workforce!

Fri, 05/04/2012 - 13:46 | 2397544 Kali
Kali's picture

Don't forget the incarcerated and those collecting Disability.  It is amazing to me how many people are not working.  I see it everyday.  I would add a percentage of small biz owners and self employed who are barely working or living off "savings" too.  I have said it before, used to be, when I was out and about working, the only people I would see out and about were stay-at-home moms, truly "disabled" people and retired folks. 

One of my good friends owns 6 child care centers.  She was just told at a conference, in the last two years, the child care providers in her State have dropped from 5000 to 3000.  40% drop!  People don't need child care if they are not working. I always ask her how her biz is doing.  I think  child care providers  are a very good indicator of how the job market is.  In addition, the government is directly competing with these small bizzes with Head Start programs and regulating them to death on top of it.  My sis in law has run a preschool for 30 years, she just put it up for sale, said the regulations are so ridiculous and expensive, she can't afford to run it anymore, even though she is at capacity with children.

As a side note, my biz has fallen off a cliff since Jan. 1.   Down on average 36%.   January and April have been the two worst months, down 50%.



Fri, 05/04/2012 - 10:01 | 2396703 Benjamin Glutton
Benjamin Glutton's picture

I have an idea...let's globalize our industries with slave labor, kill the black market with an alphabet soup of low level enforcement agents and crash the housing market with excessive lending followed by no lending.


you are here<-----------------

Fri, 05/04/2012 - 11:24 | 2397028 kurt
kurt's picture

Oh and start a race war, promote more financial inequality, push porno, hype up the murder lust via vidio games, have one-sided news, threaten retirees, increase cop shows, have cruelty comedy, use tax money to propogandize a captive citizenry, make it a stazi state, confuse sexuality, use experimental black ops, tell everybody the next big shortage is water, deregulate EVERYTHING, reward subterfuge, engage in trapdoor spider economic and business.

Fri, 05/04/2012 - 10:01 | 2396705 mayhem_korner
mayhem_korner's picture



I recommend converting the chart to a log scale.  :D

Fri, 05/04/2012 - 10:11 | 2396755 Taffy Lewis
Taffy Lewis's picture

"They" must be reading ZH.

St. Louis FED moves the scale up to 92,000 thousands:

BLS moves it up to 90,000 thousands:



Fri, 05/04/2012 - 10:43 | 2396882 mtomato2
mtomato2's picture

Your's is the comment I was scrolling down to find.

Fri, 05/04/2012 - 12:36 | 2397282 Liquid Courage
Liquid Courage's picture

Me too. Charting 101. But the s/w should do it automatically. Wonder how an "off-the-scale" chart'd get published. Politics trump Math?

Fri, 05/04/2012 - 10:12 | 2396757 Pairadimes
Pairadimes's picture

This chart describes a parabola. Somebody fit a function to this data and tell us when the rest of us quit the workforce.

Fri, 05/04/2012 - 10:25 | 2396812 JP McManus
JP McManus's picture

There's a reason why the chart only goes to 2015

Fri, 05/04/2012 - 10:28 | 2396829 mayhem_korner
mayhem_korner's picture



BLS version of the Mayan calendar...

Fri, 05/04/2012 - 10:34 | 2396846 Carl Spackler
Carl Spackler's picture

Great point McManus.

They already fit a de facto function to the's called the end of the game at 2015.




Fri, 05/04/2012 - 10:30 | 2396838 grekko
grekko's picture

I guess now that they ran out of chart, it'll never get any worse.  How can you report more than the chart holds?  I guess the PTB are going to be really happy with this.

Fri, 05/04/2012 - 10:39 | 2396869 Ted Baker
Ted Baker's picture


Fri, 05/04/2012 - 10:42 | 2396878 Lincolns Mullet
Lincolns Mullet's picture

Odd...the reading from last month had a chart that went up to 92, not 88.  Why is the one above cut off now?

Fri, 05/04/2012 - 10:44 | 2396887 El
El's picture

Isn't it a little bizarre that the recessionary numbers in the gray areas on all these charts are better than what we are experiencing now. You /sarc

Fri, 05/04/2012 - 10:45 | 2396888 mademesmile
mademesmile's picture

Don't worry. When Obama is re-elected, he'll say he inherited the economy.

Fri, 05/04/2012 - 11:25 | 2397030 hadriansnightmare
hadriansnightmare's picture

we have had population growth since 1975... compare % from 1975 to now.  It might not be as bad as that chart looks (?)

Fri, 05/04/2012 - 11:56 | 2397141 LoneCapitalist
LoneCapitalist's picture

Can anyone tell me how they calculate the number of people "looking for work"?

Fri, 05/04/2012 - 12:31 | 2397260 Liquid Courage
Liquid Courage's picture

Calculate? Surely you jest! Try any of: ad lib, concoct, contrive, cook up, create, design, devise, dream up, fabricate, hatch, invent, make up, slap together, throw together, vamp ...

Well, they may have a "formula", but as programmers say: Garbage in, garbage out.

Fri, 05/04/2012 - 12:32 | 2397266 Zymurguy
Zymurguy's picture

Only those drawing benefits are "looking for work".  At least that's how the calculations are made.  If you've exhausted your benefits their formulas look at that as if you've gotten a job.  Same goes for college grads... they've never worked to begin with so they can't draw benefits and such aren't counted.

The formulas are continually adjusted as well to shine light upon the administration currently in office so the numbers look rosier and rosier each few years.

However, it's like cheating in golf... eventually you can't keep track of all the cheating and manipulation and how it effects your score.  Your score may look good but you still suck at golf.

Fri, 05/04/2012 - 12:57 | 2397363 LoneCapitalist
LoneCapitalist's picture

Thanks. Ive heard others say the same about those drawing benefits. Its absolutely incredible that the media reports this as useful data. I know, I should be used to it by now.

Fri, 05/04/2012 - 13:19 | 2397433 Westcoastliberal
Westcoastliberal's picture

Formerly self-employed whose business has gone defunct during this meltdown don't count either as they have no unemployment benefits.  And there are literally millions of people in this category.

Fri, 05/04/2012 - 12:30 | 2397254 Zymurguy
Zymurguy's picture

Has anyone from teh Fed' Reserve been laid off during this "crisis"???

Fri, 05/04/2012 - 13:17 | 2397428 Westcoastliberal
Westcoastliberal's picture

We need to conjer up the ghost of Dick Clark for a peek at the very TOP of the Charts.  Anyone have a quiji board?

Fri, 05/04/2012 - 13:52 | 2397563 The Navigator
The Navigator's picture

NILF - Sound like another acronym relating to getting screwed (MILF)

Sun, 05/06/2012 - 05:19 | 2400450 shuckster
shuckster's picture

high unemployment is great for politicians. they can blame everything on the unemployed - they have a constant stream of votes, all they have to do is hand out a few hundred dollars to every jobless person. the tension and infighting of the populace means that little attention is directed at the politician. policiticians love unemployment. The fewer people with jobs, the better

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