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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

Tyler Durden's picture




 

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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Fri, 12/02/2011 - 10:10 | 1938150 rambler6421
rambler6421's picture

I heard that some 300,000 aren't in the labor force anymore, so the unemployment rate decreased. 

 

libertarian86.blogspot.com

Fri, 12/02/2011 - 10:13 | 1938164 Tyler Durden
Tyler Durden's picture

Did you read the post you commented on?

Fri, 12/02/2011 - 10:15 | 1938180 trav7777
trav7777's picture

and he didn't put "bitchez" in the post...some people sheeh

Fri, 12/02/2011 - 10:18 | 1938195 AngryGerman
AngryGerman's picture

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...

Fri, 12/02/2011 - 10:22 | 1938219 Raskolnikoff
Raskolnikoff's picture

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.

Fri, 12/02/2011 - 10:24 | 1938221 Cash_is_Trash
Cash_is_Trash's picture

It's a pear-shaped recovery everybody!

Fri, 12/02/2011 - 10:30 | 1938255 Baron Robber
Baron Robber's picture

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?

Fri, 12/02/2011 - 11:00 | 1938384 Raskolnikoff
Raskolnikoff's picture

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. 

Fri, 12/02/2011 - 15:14 | 1939472 TruthInSunshine
TruthInSunshine's picture

 

 

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.

Fri, 12/02/2011 - 10:59 | 1938377 flattrader
flattrader's picture

There's plenty of jobs

Newt believes there are "jobs" for nine year olds to be janitors and greeters in their schools.

Fri, 12/02/2011 - 11:03 | 1938400 Raskolnikoff
Raskolnikoff's picture

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.

Fri, 12/02/2011 - 11:53 | 1938645 flattrader
flattrader's picture

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.

Fri, 12/02/2011 - 11:59 | 1938683 Raskolnikoff
Raskolnikoff's picture

I agree, LOL

Fri, 12/02/2011 - 10:24 | 1938225 ArkansasAngie
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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.

Fri, 12/02/2011 - 10:30 | 1938256 Raskolnikoff
Raskolnikoff's picture

It's not the media, it's the machines. Like a terminator movie.

Fri, 12/02/2011 - 10:24 | 1938232 pazmaker
pazmaker's picture

Tyler, I'll answer for him. "Nope I'm just pimping my blogspot!"

Fri, 12/02/2011 - 10:55 | 1938353 rambler6421
rambler6421's picture

Naw Tyler.  I'm just spam.

Fri, 12/02/2011 - 11:50 | 1938631 DOT
DOT's picture

Make mine with pineapple please.

Fri, 12/02/2011 - 11:07 | 1938428 The trend is yo...
The trend is your friend's picture

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

Fri, 12/02/2011 - 10:12 | 1938156 SheepDog-One
SheepDog-One's picture

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.

Fri, 12/02/2011 - 10:15 | 1938183 Apocalicious
Apocalicious's picture

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...

Fri, 12/02/2011 - 11:02 | 1938388 ElvisDog
ElvisDog's picture

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).

Fri, 12/02/2011 - 10:18 | 1938196 swissbene
swissbene's picture

yeah but new claims will be down

Fri, 12/02/2011 - 10:25 | 1938233 EscapeKey
EscapeKey's picture

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!

Fri, 12/02/2011 - 10:12 | 1938158 vipmoneymachine
vipmoneymachine's picture

Doesn't matter, buy when Dow is under 11500 and sell at 12500. Works all the time despite any bad news.

Fri, 12/02/2011 - 10:26 | 1938238 EscapeKey
EscapeKey's picture

That's what they want you to think.

Pennies, meet steamroller.

Fri, 12/02/2011 - 10:12 | 1938160 madmike117
madmike117's picture

Wow. Watching CNBC, the group orgasm going on is simply stunning. I really want in on that.

Fri, 12/02/2011 - 10:16 | 1938187 CORNGUY
CORNGUY's picture

Watching Bloomberg........they always have the sexiest commentators.     

Fri, 12/02/2011 - 10:19 | 1938205 Stuck on Zero
Stuck on Zero's picture

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.

Fri, 12/02/2011 - 10:22 | 1938217 Hippocratic Oaf
Hippocratic Oaf's picture

I turned all 5 TV's off in the office. Can't take it

Fri, 12/02/2011 - 10:24 | 1938229 Cash_is_Trash
Cash_is_Trash's picture

What's a tv?

Fri, 12/02/2011 - 16:47 | 1939826 francis_the_won...
francis_the_wonder_hamster's picture

"What's a tv?"

Trained Victim......AKA....."taxpayer"

Fri, 12/02/2011 - 10:12 | 1938161 midtowng
midtowng's picture

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?"

Fri, 12/02/2011 - 10:17 | 1938190 vipmoneymachine
vipmoneymachine's picture

BLS wesite is outsourced to Goldman.

Fri, 12/02/2011 - 10:13 | 1938166 Paul Thomason
Paul Thomason's picture

All seems pretty good to me. Might borrow some money to buy some stocks at these bargain prices.

Fri, 12/02/2011 - 11:52 | 1938643 DOT
DOT's picture

No Borrowing For You !

 

 

Fri, 12/02/2011 - 13:01 | 1939008 bigkahuna
bigkahuna's picture

leverage and go short and then leverage that - if you must gamble.

Fri, 12/02/2011 - 10:13 | 1938169 GeneMarchbanks
GeneMarchbanks's picture

Full employment... soon.

Fri, 12/02/2011 - 10:13 | 1938171 Tsar Pointless
Tsar Pointless's picture

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"?

Fri, 12/02/2011 - 10:17 | 1938193 trav7777
trav7777's picture

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.

Fri, 12/02/2011 - 11:04 | 1938405 Dave Stoller
Dave Stoller's picture

"if you are unemployed long enough, you're no longer unemployed"

 

Bingo

Fri, 12/02/2011 - 12:13 | 1938750 pain_and_soros
pain_and_soros's picture

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!

 

Fri, 12/02/2011 - 10:55 | 1938355 GeezerGeek
GeezerGeek's picture

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.

Fri, 12/02/2011 - 11:07 | 1938416 ElvisDog
ElvisDog's picture

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.....

Fri, 12/02/2011 - 11:17 | 1938467 Tsar Pointless
Tsar Pointless's picture

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.

Fri, 12/02/2011 - 10:13 | 1938172 Josh Randall
Josh Randall's picture

People falling off the dole -- so the more 99'ers that fall off, the better the economy looks - what a concept, what a country 

Fri, 12/02/2011 - 10:14 | 1938174 CORNGUY
CORNGUY's picture

Shit, everythings good now.   

Fri, 12/02/2011 - 13:48 | 1939204 Esso
Esso's picture

Hells man, almost all them charts is goin' up. The economy's never been better, bitchez!

Fri, 12/02/2011 - 10:14 | 1938175 Robslob
Robslob's picture

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!

Fri, 12/02/2011 - 11:08 | 1938435 ElvisDog
ElvisDog's picture

Hah, that's funny. Take the land whales out of the Walmart $2 waffle maker line and send them to the front.

Fri, 12/02/2011 - 10:14 | 1938176 JPL
JPL's picture

As usual most wont understand what's really going on. Sad

Fri, 12/02/2011 - 10:20 | 1938210 swissbene
swissbene's picture

shortable er teachable moment

Fri, 12/02/2011 - 10:15 | 1938182 fonzanoon
fonzanoon's picture

from what I see online the futures are already slowly crapping out.

Fri, 12/02/2011 - 10:17 | 1938192 Everybodys All ...
Everybodys All American's picture

What were if any of the B/D adjustments in the report?

Fri, 12/02/2011 - 10:43 | 1938306 John McCloy
John McCloy's picture

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.

Fri, 12/02/2011 - 10:18 | 1938194 kito
kito's picture

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!!!

Fri, 12/02/2011 - 10:22 | 1938216 sabra1
sabra1's picture

you forgot waffle makers at $2! soon a box of wafflles will cost $20!

Fri, 12/02/2011 - 11:04 | 1938407 Kayman
Kayman's picture

A Chinese waffle maker for $2 ?  Does anyone have a picture of this "bargain" ?

Fri, 12/02/2011 - 10:18 | 1938198 Corn1945
Corn1945's picture

I love how the BLS Birth/Death site is still down.

Fri, 12/02/2011 - 10:19 | 1938200 Dick Darlington
Dick Darlington's picture

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

Fri, 12/02/2011 - 10:24 | 1938226 GeneMarchbanks
GeneMarchbanks's picture

Lucky you, Dick. These imbecile Eurocratz aren't letting our ECB to print prosperity. Idiots...

Fri, 12/02/2011 - 10:28 | 1938249 Dick Darlington
Dick Darlington's picture

*FISHER: `RUNNING THE PRINTING PRESSES' FOR DEBT MAKES PROBLEMS

And still the only answer to ANY problem is always "let's print more". Prospereteee! ;-)

Fri, 12/02/2011 - 10:34 | 1938275 GeneMarchbanks
GeneMarchbanks's picture

Incomplete work, Dick. Very uncharacteristic of you.

MAKES PROBLEMS FOR CHINA & CO. He then added: LOL

 

Fri, 12/02/2011 - 11:08 | 1938433 Dick Darlington
Dick Darlington's picture

ROFLOL! +1

Fri, 12/02/2011 - 10:19 | 1938203 Iriestx
Iriestx's picture

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."

Fri, 12/02/2011 - 10:29 | 1938250 srsly-wtf
srsly-wtf's picture

The ONLY thing that matters right now is a Santa RALLY!

Fri, 12/02/2011 - 10:42 | 1938302 optimator
optimator's picture

The ONLY thing that matters is Bankster Bonus month, adjusted for real inflation too!

Fri, 12/02/2011 - 12:14 | 1938752 lead salad
lead salad's picture

Now that is funny!

Fri, 12/02/2011 - 10:19 | 1938204 goldencross10
goldencross10's picture

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

Fri, 12/02/2011 - 10:44 | 1938308 Iriestx
Iriestx's picture

Obama voters never were very bright to begin with.

Fri, 12/02/2011 - 13:13 | 1939063 bigkahuna
bigkahuna's picture

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.

Fri, 12/02/2011 - 10:20 | 1938207 sabra1
sabra1's picture

OT:

those satanist oldidorks hath communicated to the canadian government, that no holiday decorations are permitted in any government offices or buildings!

Fri, 12/02/2011 - 11:04 | 1938406 i-dog
i-dog's picture

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.

Fri, 12/02/2011 - 10:20 | 1938208 JSD
JSD's picture

http://www.youtube.com/watch?v=JbygGJAN7r4

 

Now guess which one is the market.

Fri, 12/02/2011 - 10:20 | 1938209 Lord Maximus
Lord Maximus's picture

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.

Fri, 12/02/2011 - 10:24 | 1938223 sabra1
sabra1's picture

i can't wait to see happy, slappy americans running to cast a vote for their favorite  ass raper!

Fri, 12/02/2011 - 10:44 | 1938305 Dr. Engali
Dr. Engali's picture

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.

Fri, 12/02/2011 - 10:20 | 1938211 Moneyswirth
Moneyswirth's picture

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!

Fri, 12/02/2011 - 10:45 | 1938312 Iriestx
Iriestx's picture

Not just buy, buy the shit out of it ON MARGIN!  Leverage your personal income to x10000+ like the banks do!

Fri, 12/02/2011 - 10:26 | 1938236 grid-b-gone
grid-b-gone's picture

For the talking heads, 8.6% is as complicated as they'll be willing to make it today.

Fri, 12/02/2011 - 10:27 | 1938237 yogibear
yogibear's picture

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. 

Fri, 12/02/2011 - 10:26 | 1938239 Lazane
Lazane's picture

salvation army, salvation army, throw a nickel in the drum, save another drunken bum...

Fri, 12/02/2011 - 10:27 | 1938245 Dr. Engali
Dr. Engali's picture

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.

Fri, 12/02/2011 - 10:28 | 1938246 Cone of Uncertainty
Cone of Uncertainty's picture

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.

Fri, 12/02/2011 - 10:28 | 1938248 Shizzmoney
Shizzmoney's picture

Temporary hiring -- seen as a harbinger for future hiring - increased 22,300 after adding 15,800 jobs last month.

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.

Fri, 12/02/2011 - 12:37 | 1938877 riley martini
riley martini's picture

 Corola  would lick the ass of his fascist masters . Corporate media conglomerates.

Fri, 12/02/2011 - 10:30 | 1938260 mailll
mailll's picture

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?

Fri, 12/02/2011 - 10:30 | 1938261 monopoly
monopoly's picture

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.

Fri, 12/02/2011 - 10:31 | 1938262 quacker
quacker's picture

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.

Fri, 12/02/2011 - 10:33 | 1938269 Shizzmoney
Shizzmoney's picture

The average work week was unchanged at 34.3 hours, with hourly earnings falling two cents.

Really makes me want to pop the champagne.

Fri, 12/02/2011 - 10:33 | 1938271 Dick Darlington
Dick Darlington's picture

OT: Quote of the day!

*FISHER SAYS `WE ARE PRETTY UNPOPULAR AT THE FED'

Fri, 12/02/2011 - 10:35 | 1938276 Lazane
Lazane's picture

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. 

Fri, 12/02/2011 - 10:38 | 1938285 SheepDog-One
SheepDog-One's picture

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.

Fri, 12/02/2011 - 10:40 | 1938292 alagon
alagon's picture

Slightly off topic here, but what would happen if the employment rate was at 100%?

Fri, 12/02/2011 - 10:40 | 1938295 yogibear
yogibear's picture

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.

Fri, 12/02/2011 - 10:41 | 1938301 The Axe
The Axe's picture

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.

Fri, 12/02/2011 - 10:44 | 1938309 vegas
vegas's picture

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

Fri, 12/02/2011 - 10:48 | 1938319 JSD
JSD's picture

Bill with another whiff of sanity (@Pimco):

Gross: While the 8.6 number is a good number for the , I’m not sure if it’s a good number at your house.

Fri, 12/02/2011 - 10:48 | 1938320 Snakeeyes
Snakeeyes's picture

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

Fri, 12/02/2011 - 10:49 | 1938322 Kina
Kina's picture

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.

Fri, 12/02/2011 - 10:49 | 1938323 American Dissident
American Dissident's picture

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?

Fri, 12/02/2011 - 10:51 | 1938334 banksterhater
banksterhater's picture

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

 

Fri, 12/02/2011 - 10:53 | 1938339 Number 156
Number 156's picture

Your government at work trying its best to deceive you. January will be a complete disaster.

Fri, 12/02/2011 - 10:52 | 1938340 Archimedes
Archimedes's picture

Denninger is calling for outright fraud committed by the government and he makes a strong case!

Fri, 12/02/2011 - 10:52 | 1938342 MFL8240
MFL8240's picture

Courrpt Goverment looking to promote more of the anti American Obama by using misleeding and phony lies and manipulation.

Fri, 12/02/2011 - 10:53 | 1938344 Eireann go Brach
Eireann go Brach's picture

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!

Fri, 12/02/2011 - 11:02 | 1938368 lolmao500
lolmao500's picture

All those people who apparently ``died`` in the last month (1.5 million) is very bullish for the death industry! Krugman right again!

/bitchez

Fri, 12/02/2011 - 11:15 | 1938460 flattrader
flattrader's picture

>>>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.

Fri, 12/02/2011 - 10:58 | 1938369 Sudden Debt
Sudden Debt's picture

At least it's not as bad yet as it was in 84!

Fri, 12/02/2011 - 10:59 | 1938374 2discern
2discern's picture

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...

Fri, 12/02/2011 - 11:05 | 1938410 Clam McCain
Clam McCain's picture

blah blah bitchez

 

Fri, 12/02/2011 - 11:08 | 1938431 Peter K
Peter K's picture

But Liseman on ComedyNBC just said it was a good number. Do you think he has a political agenda? :)

Fri, 12/02/2011 - 11:13 | 1938451 New American Re...
New American Revolution's picture

That first chart looks like a head and shoulders that has reached its objective.

Fri, 12/02/2011 - 11:26 | 1938511 libertarian_neocon
libertarian_neocon's picture

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...

 

Fri, 12/02/2011 - 11:34 | 1938548 dcb
dcb's picture

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

Fri, 12/02/2011 - 11:43 | 1938597 MFL8240
MFL8240's picture

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

Fri, 12/02/2011 - 11:45 | 1938609 RichardENixon
RichardENixon's picture

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.

Fri, 12/02/2011 - 12:33 | 1938863 karzai_luver
karzai_luver's picture

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.

 

Fri, 12/02/2011 - 12:53 | 1938964 Shizzmoney
Shizzmoney's picture

Republican Strategist to Republican politicans: "Don't say, "Capitalism"

http://www.youtube.com/watch?v=pn6C7PN_pyk

Fri, 12/02/2011 - 14:24 | 1939289 ebworthen
ebworthen's picture

 

 

"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.

Fri, 12/02/2011 - 14:44 | 1939392 boiltherich
boiltherich's picture

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. 

 

Fri, 12/02/2011 - 14:48 | 1939402 Bansters-in-my-...
Bansters-in-my- feces's picture

The radio

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