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Key Charts From The NFP Report: Records In Jobless Duration And People Who Want A Job As Civilian Labor Force Plunges
Here are the four most important data points and charts from today's job report: the civilian labor force declined from 154,198 to 153,883, a 315K decline despite the civilian non-institutional population increased (as expected) from 240,269 to 240,441: always the easiest way to push down the unemployment rate. Percentage wise this was a drop from 64.2% to 64.0%: the lowest since back in 1983. Naturally, this would mean that the people not part of the labor force rose, and indeed they did by 487,000 to a record 86,558 from 86,071. This also means that more people are looking for a job: and indeed, the number of "Persons who want a job now" rose by 192K to a record 6.595 million. And lastly, confirming the behind the scenes disaster of the US jobless picture, the average duration of unemployment rose to a new record 40.9 weeks from 39.4 weeks previously. And that is your "improving" jobless picture in a nutshell.
Labor Force Participation Rate:
People Not In The Labor Force:
People Who Want A Job Now:
And Average Duration Of Unemployment:
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I heard that some 300,000 aren't in the labor force anymore, so the unemployment rate decreased.
libertarian86.blogspot.com
Did you read the post you commented on?
and he didn't put "bitchez" in the post...some people sheeh
is the one the number of people who want a hand job now? bc then i am also one of them. i would also accept a blow job...
I don't like the people of 'occupy whatever' but when I hear someone like Newt retort 'go get a job' I have to scratch my head, it's like rubbing the salt in good.
It's a pear-shaped recovery everybody!
Why - because they want to end the fed, or because they want to bring back Glass-Steagel, or because they want to break up the TBTF banks, or maybe its because they want to stop the criminal banksters from funding politicians. Do you work for JPM or GS?
No, but the Democratic Party does work for them, hence these protesters belong in Washington DC, not Wall Street. They are very dishonest. But Obama and gang are pretty smart...they've gotta a lot of buffers placed between them and the real people, and they like to sacrafice some of those buffers every once in a while when it becomes politically expedient.
Point A: 350,000 people left the work force (350k more 'discouraged workers' last month alone) and are no longer counted when tabulating employment/unemployment data.
Point B: There was a net gain of 120,000 jobs in the U.S. economy last month, as 120,000 more employees were hired than were fired, based on today's NFP report from the BLS.
Point C: The U.S. unemployment rate, based on today's NFP report from the BLS, dropped to 8.6% from 9.0% a month ago, which is the lowest level of 'official' unemployment since March of 2009.
Can you spot the glaring bullshit above that could only be sold convincingly to only the most sheepliest of sheeple, bitchez?
We've not only arrived at Orwell's 1984 moment (consider also the new Defense Bill passed overwhelmingly by the Senate this week, which allows for the indefinite detainment and imprisonment of American Citizens plucked from U.S. soil, without any charges ever having to be filed let alone due process of a trivial trial [/sarc/] having to occur), Orwell, if he were to rise from the grave and visit his nation today, would utter W-T-F, before voluntarily crawling back into his grave.
There's plenty of jobs
Newt believes there are "jobs" for nine year olds to be janitors and greeters in their schools.
I was a teacher in China and Japan for a number of years, class sizes were 50 kids plus...everyday the kids get up early to clean the school grounds and stay late to clean the classrooms. There is nothing wrong with a janitors job, the kids clean and develop a health school spirit. The fact that Newt wants to pay some kids to do this is pretty generous.
Yes. I did this in my school too.
It's the REASON why he explains this is useful--
The children in the poorest neighborhood have no role models who have jobs.
Of course, the fat fuck is solidly in the service of those who created that situation.
I agree, LOL
I read it and am now wondering why I did.
All it did was piss me off and left me wondering how do you beat the shatheads who control the media.
It's not the media, it's the machines. Like a terminator movie.
Tyler, I'll answer for him. "Nope I'm just pimping my blogspot!"
Naw Tyler. I'm just spam.
Make mine with pineapple please.
An election is coming up, no matter what the real employment situation is, by november 2012 the unemployment rate will be sub 8. We are at a point where all gov statistics are manipulated
So then soon we'll have 2 guys workin, and hoping 1 of them doesnt quit or the unemployment rate will be doubled. What a joke this whole thing is. OH but Peter Tchir 'Robo' says this rally really has wings...whatever.
Exactly. Moral hazard, prisoners dilemma, etc. When a society reaches the point where the rules-following hard-working ones are the suckers, well, then they decide to stop playing the game and game over...
I think, intentionally or not, there has been a consistent meme to keep the hard-working-tax-donkeys in line. (1) We're in a weak recovery, unemployment is going down. (2) The OWS crowd and anyone who is out of work should stop whining and get a job.
So, if you have a job, you probably know that the reality is it's really hard to get a new job so you keep your mouth shut and do whatever it takes to keep your job. If you're out of work, even if you know the MSM and government are spewing a bunch of BS you don't want to come off as a shiftless loser so you keep your mouth shut and engage in the futile search to find a new job (or just live off govt bene's for a while).
yeah but new claims will be down
And don't forget that since they shut down more factories than they laid off workers, the capacity ulilization in fact went UP.
RALLY ON!
Doesn't matter, buy when Dow is under 11500 and sell at 12500. Works all the time despite any bad news.
That's what they want you to think.
Pennies, meet steamroller.
Wow. Watching CNBC, the group orgasm going on is simply stunning. I really want in on that.
Watching Bloomberg........they always have the sexiest commentators.
Ever notice how similar Bloomberg is to a Vegas Casino? Great looking chicks. Urgency. Lots of noise and activity. Blinking lights and digits to confuse. Same psychology. Same suckers fall for it.
I turned all 5 TV's off in the office. Can't take it
What's a tv?
"What's a tv?"
Trained Victim......AKA....."taxpayer"
I've been trying to tap the BLS web site and see the raw numbers but I can't. The BLS must be getting hammered right now for requests by people asking "WTF?"
BLS wesite is outsourced to Goldman.
All seems pretty good to me. Might borrow some money to buy some stocks at these bargain prices.
No Borrowing For You !
leverage and go short and then leverage that - if you must gamble.
Full employment... soon.
http://www.bls.gov/news.release/empsit.t01.htm
All the noise is drowning out the news!! Ahh!
Okay, here are the not-seasonally adjusted numbers that matter from this report. I don't know why reputable sites such as ZH play along with the "seasonally adjusted" and "headline" employment number games promulgated by the CMSM. I would expect better.
U-3 fell to 8.2%, by far the lowest in over three years. The participation rate dropped to 63.9%, matching the record low for this series, matched three prior times this year.
A grand total of 576,000 people were welcomed into the ranks of the "Not in Labor Force", which swells to another record of 86.757 million.
The number of employed only rose by 83,000, as the unemployed fell almost 500,000 to 12.613 million.
Oh, and the civilian labor force - which should grow month-to-month - declined by about 400,000, and is now below the November 2010 level.
Clearly, the trend has been set: The official unemployment rate is quickly falling, but the number of people in our population who are retiring or simply giving up is rising just as dramatically, if not more.
We could be well below 8.0% in "official" unemployment by next November, but that would be outweighed by the reality of nearly 90 million people doing nothing.
Then again, since when has real reality mattered in this fascist little hellhole we call "Amerikkka"?
the gov't math makes it such that if you are unemployed long enough, you're no longer unemployed.
Feel free to puke when Obama goes on the campain trail and announces how he has "cut unemployment" and parrots this headline rate.
"if you are unemployed long enough, you're no longer unemployed"
Bingo
aka as "expendable", i.e., we ain't spending no mo money on you...go find a job or whatever...just get lost.
O'bummer's new campaign slogans...
4 more years!!! no more tears!!!
Just Biden my time, till the sun returns to shine...
Barry & Joe, a can-do team don't ya know!
Obama promised to fundamentally restructure America. He is currently engaged in fundamentally restructuring the definition of reality. It's the only way he gets to keep his job in November 2012.
And isn't the "Not in Labor Force" number completely subjective. The BLS can make that number whatever they want? It's stupefying to me that anyone (MSM included) could say with a straight face that in this time of economic stagnation and people falling off unemployment rolls that 576K people voluntarily decided not to work any more.
What I'm waiting for is Obama to hold one of his rallies with beaming faces in the background and say that even though unemployment is going down (thanks to him) that congress needs to pass his jobs bill now more than ever.....
No. I think it's the truest indicator we have in the employment situation report.
This group included those who have given up totally in the search for a job, but are not yet retirement age, as well as those who are retired (think baby-boomers), and other types.
So, I don't think it's subjective at all. On the contrary - it's entirely objective.
People falling off the dole -- so the more 99'ers that fall off, the better the economy looks - what a concept, what a country
Shit, everythings good now.
Hells man, almost all them charts is goin' up. The economy's never been better, bitchez!
And with the extension of jobless benefits look for this number to expand in perpetuity or until the oligarchs decide it is time to put everyone back to work in the U.S., also know as......WAR!
Hah, that's funny. Take the land whales out of the Walmart $2 waffle maker line and send them to the front.
As usual most wont understand what's really going on. Sad
shortable er teachable moment
from what I see online the futures are already slowly crapping out.
What were if any of the B/D adjustments in the report?
HAHA..you can't see that. Ben got clever and starting embargoing those numbers until after the market opens which is why the BLS site is usually down until around 9:20-9:50. I checked the site 10 mins ago it was still down. This along with constant upwards revisions is just another example of our loving government and their trickey.
Everybody happy!!! Welfare recipients getting free housing, cell phones, medical care and food. 401kers, iraers, pensioners all thrilled to see stocks flying closer to new highs. precious metal holders seeing healthy gains this year. bond holders having record returns, consumers getting towels for 1.29!!! Everybody is happy!! Enjoy the holidays!!!!! No need to be down about a paltry 8.6 pct of the population!!!
you forgot waffle makers at $2! soon a box of wafflles will cost $20!
A Chinese waffle maker for $2 ? Does anyone have a picture of this "bargain" ?
I love how the BLS Birth/Death site is still down.
We don't need no stinkin jobs when we have gubbmint doing the spending and The Man in the Beard doing the printing on behalf of everyone.
*FISHER SAYS FEDERAL GOV'T SPENDING HAS GROWN TO 24% OF GDP
Lucky you, Dick. These imbecile Eurocratz aren't letting our ECB to print prosperity. Idiots...
*FISHER: `RUNNING THE PRINTING PRESSES' FOR DEBT MAKES PROBLEMS
And still the only answer to ANY problem is always "let's print more". Prospereteee! ;-)
Incomplete work, Dick. Very uncharacteristic of you.
MAKES PROBLEMS FOR CHINA & CO. He then added: LOL
ROFLOL! +1
Holy shit the talking heads on CNBC are going to break they necks if they try to suck their own dicks any harder over the NFP "numbers."
The ONLY thing that matters right now is a Santa RALLY!
The ONLY thing that matters is Bankster Bonus month, adjusted for real inflation too!
Now that is funny!
All of the comments on CNN Facebook pg are saying Obama is doing a fabulous job and no one else could have brought down the rate this quick. lolololol
Obama voters never were very bright to begin with.
If you have not noticed, none of the voters in this country are very bright. The two parties are two wings of the same bird.
OT:
those satanist oldidorks hath communicated to the canadian government, that no holiday decorations are permitted in any government offices or buildings!
That's very cost conscious of them. Should take a good bite out of the deficit! And think of all the electricity saved, without those blinking lights heating the offices.
http://www.youtube.com/watch?v=JbygGJAN7r4
Now guess which one is the market.
Obama and Co. will have this rate below 8% by next fall. Count on it!!
This is all about Obama's Re-election. It's like he isn't even trying anymore. Why?...
They know something that we don't know.
Next summer and Fall are going to be on FIRE.
i can't wait to see happy, slappy americans running to cast a vote for their favorite ass raper!
There isn't going to be an election. I believe that we have had our last semi real election( assuming that any have been real in the first place). Besides,who are we going to choose from Newt,Mit? Ron Paul is the only real selection but I don't the powers that be will allow that. So our choices are Newt the hypocrite or Mit the empty suit.
Everyone needs to calm down, STFU and buy some Zynga. Then you won't have to work another day in your life. To infinity and beyond!
Not just buy, buy the shit out of it ON MARGIN! Leverage your personal income to x10000+ like the banks do!
For the talking heads, 8.6% is as complicated as they'll be willing to make it today.
An election is coming up. Have to clean up the numbers and redo the stats. If the unemployment numbers are pushed down below 8% right before the election Obama gets his second term. If this continues forget about the GOP, their done. Stock market up, unemployment down, Obama wins second term. That was easy.
salvation army, salvation army, throw a nickel in the drum, save another drunken bum...
They can print all the lies they want to print. The media can spin the 8.6 headline as great Christmas news. But the truth is the American people know. Everybody knows this is a lousy economy and if they themselves haven't lost their job they know a handful of people who have. So let them keep lying and spinning the truth is out there and people can feel it.
Anyone no what the fuck the birth death was this month?
BLS site is not loading--must be diverting computing power for todays equity ramp.
Harbinger? Temp hiring has been BOOMING the last few months as corps get "more efficent". Yet good, full time jobs with pay/benefits have been DECREASING.
The smaller temp agencies who will actually try to focus on advancing your career, and offering better jobs with higher pay and a REAL chance of full-time employment, have been getting destroyed by bigger chop-shop firms that bascially just hire for high volume call centers and data projects like Robert Half companies and.....Robert Half companies.
Again, this means that the big corporations expand and smaller business and investors, suffer.
The serfdom is accelerating, folks.
http://bighollywood.breitbart.com/hollywoodland/2011/11/30/adam-carolla-trashes-occupy-wall-street-in-epic-rant/
Adam sums it up nicely
Corola would lick the ass of his fascist masters . Corporate media conglomerates.
More bogus govt. numbers to show how our economy is improving. I look at that other number. 400,000 first time unemployment claims each week. I thought we had to create over 180,000 jobs per month just to make the unemployment rate go down .1% ? Who's giving us this data, Al Gore with his fuzzy math calculator?
Always good to come here and get the facts. You do not have to agree with it, but these are the facts. And yes, I too turned the TV on mute. Cannot stand a shill, and Cramer fits that bill. And by 7 AM music for rest of the trading day and my news feeds. But I do not trade this market.
And here we go. What a waste our markets have become.
1/2 the 120k came from either retailers or temp job agencies.
And the Great Blizzard of Bullshit continues. It won't even be about spin any more - it will be about outright bad being declared outright good.
And this is what government and media will have to do from here on out to make Obama look good: Bad = Good, the equation of our times.
Really makes me want to pop the champagne.
OT: Quote of the day!
*FISHER SAYS `WE ARE PRETTY UNPOPULAR AT THE FED'
it used to be that these kind of charts would absolutely doom an incumbent president, though today obama's svengali elixir prepared especially by the "mainstream media" is keeping even the slightest potential for changing the suit in the nitwit house only a remote possibility.
Oh, all is well now? OK then we can pull all QE talk off the table and clawback all bailouts and TARPs and QE money...since its all so good and all.
Funny....just a few days ago everyone was in a panic demanding a new QE, and demanding it NOW!
All is well now, carry on.
Slightly off topic here, but what would happen if the employment rate was at 100%?
Face it, with better numbers/stats Obama wins a second term easily. Several more months to improve the stats and his second term is locked in.
I guess you people haven't been paying attention!!!! The FEDS job is to increase asset prices, not to help the unemployment rate!! Assets UP...well done...sarc.
Totally full employment!! [If only another couple of million people would just get the hell out of the way and stop looking for work.] Damn it, we got an election we got to win.
http://vegasxau.blogspot.com
Bill with another whiff of sanity (@Pimco):
Gross: While the 8.6 number is a good number for the #WhiteHouse, I’m not sure if it’s a good number at your house.
How much is just the Christmas season effect?
"It's Beginning to Look A Lot Like Christmas ..." Unemployment Falls to 8.6%, Labor Force Participation Falls to 64% - Greece Today's Winner of the "Bailout Bowl"
http://confoundedinterest.wordpress.com
The MSM is simply part of the lying game.
Nobody in Wall Street or the MSM will believe any of the bullshit data coming out except to know it is part of the game of deceit on all.
The media is as corrupt as the Bankers and politicians. The US is a Corpocracy.. govt of the banksters, by the banksters for the banksters.
Ask not what you can do for your country, ask what you can do for your banksters.
S H O C K I N G there is Zero accounting for the 250K in legal third world immigration or the economic terrorist invaders entering at the southern front...yet, there is shrinkage of the labor force. Could it be that the shadow cash paying economy is growing whilst the one composed by tax slaves and those playing by leviathans rules shrinks?
The birth/death IS MINUS 29K and look how many they revised DOWN YTD from Oct. (from +874K to +339K) so the quarterly B/D revisions are not as corrupt.
http://www.bls.gov/web/empsit/cesbd.htm
Your government at work trying its best to deceive you. January will be a complete disaster.
Denninger is calling for outright fraud committed by the government and he makes a strong case!
Courrpt Goverment looking to promote more of the anti American Obama by using misleeding and phony lies and manipulation.
Cue up the TelePrompTer to explain Obamanomics to Obama and his picked audience of govt and union workers, who are promised goodie bags that will include a bag of skittles and a joe Biden bobble head afterwards if they clap on demand like baby seals!
All those people who apparently ``died`` in the last month (1.5 million) is very bullish for the death industry! Krugman right again!
/bitchez
>>>All those people who apparently ``died`` in the last month<<<
????
If this is in relation to the BLS birth/death model, be advised that it is the birth/death of businesses that is being modeled, not people.
At least it's not as bad yet as it was in 84!
BLS is another outlet for the liar-in-chief to utilize just like the letters imply Bull Lying Sh*t. Now back to Obummer campaign headquarters MSNBC...
blah blah bitchez
But Liseman on ComedyNBC just said it was a good number. Do you think he has a political agenda? :)
That first chart looks like a head and shoulders that has reached its objective.
I created a chart of my own. If you keep the labor participation rate at 66%, where it was in November 2008, what would the unemployment rate look like. Based on my calculation, unemployment peaked in July of this year and is now still at 11.4%.
http://libertarian-neocon.blogspot.com/2011/12/86-unemployment-rate-is-c...
not that it matters, but using speed lines we are at a potential minor top at 10:30 friday am on the s and p
This just showed up on Fox news. If you go to the Obama media networks they are all giving each other high fives because they are too stupid to read the full report and willing to misleed if at all possible.
Stated:
The Labor Department said Friday that employers added 120,000 jobs last month. With that, the unemployment rate dropped to the lowest level in more than two and a half years. But a key reason for the sharp drop was that about 315,000 people had stopped looking for work -- for the Labor Department's purposes, they were not counted as unemployed.
Read more: http://www.foxnews.com/politics/2011/12/02/unemployment-rate-falls-to-86-percent-lowest-since-march-200/#ixzz1fOO6k2G3
Peer behind the curtain to observe the reality of the situation all you want, but the only thing the average voter is going to see is the "Unemployment Rate" steadily dropping between now and November, thereby ensuring Obama's re-election.
Back when i used to "work" the future was that by now all would be living a life of ease and leisure.
SO, now that we are getting the rewards of all this "productivity" , finally after all these decades , now everyone howls for more work?
Is that it? Really. Then get off this board and get to work there are peas to pick somewhere.
Republican Strategist to Republican politicans: "Don't say, "Capitalism"
http://www.youtube.com/watch?v=pn6C7PN_pyk
"Official" unemployment rate formula: (LIES/half-truths)(-2) + (-0.5) = Unemployment%
Thank you for the great charts; and for the cheese, mayonnaise, mustard, and bread to go with the bologna government unemployment report.
Note for some perspective that in 2007 there were 146,047,000 employed people and that was the peak of US employment.
There are now 140,580,000 employed people. There are 5,467,000 fewer people working now than 2007. Even though the population circa 20 years ago was growing by about 3.2 million per year net not counting illegal immigration. The millions of people who have lost jobs need reemployment and yet at 120k per month getting jobs is not even enough to accomodate new entrants into the workforce at a 66% participation rate.
The radio