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Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low

Tyler Durden's picture


A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is to crush the labor force participation rate to about 55%. Looks like the good folks at the BLS heard us: it appears that the people not in the labor force exploded by an unprecedented record 1.2 million. No, that's not a typo: 1.2 million people dropped out of the labor force in one month! So as the labor force increased from 153.9 million to 154.4 million, the non institutional population increased by 242.3 million meaning, those not in the labor force surged from 86.7 million to 87.9 million. Which means that the civilian labor force tumbled to a fresh 30 year low of 63.7% as the BLS is seriously planning on eliminating nearly half of the available labor pool from the unemployment calculation. As for the quality of jobs, as withholding taxes roll over Year over year, it can only mean that the US is replacing high paying FIRE jobs with low paying construction and manufacturing. So much for the improvement.

Chart below shows it all - that jump is not a fat finger!

And Labor Force Participation:

This is the largest absolute jump in 'Persons Not In Labor Force' on record...and biggest percentage jump in 30 years.

Chart: Bloomberg


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Fri, 02/03/2012 - 09:55 | 2122794 the not so migh...
the not so mighty maximiza's picture

hahahaha , it will only be reported here, some extreme book cooking to win an election.


Fri, 02/03/2012 - 09:55 | 2122796 mkanterm
mkanterm's picture

So new babies count as labor force. What is this, China?? I think you are misinterpreting the data here for the sake of argument. This is just the census adjustments is all.

Fri, 02/03/2012 - 09:56 | 2122799 Fred C Dobbs
Fred C Dobbs's picture

new MillionDollarBonus_
Vote up!

Vote down!


The global recovery is back, and there's nothing doomer libertarians can do to stop it. Interest rates are low and economic growth remains steady, all of which bodes well for the Obama/Biden 2012 campaign. Libertarians have been DEAD WRONG about the economy, however much they lack maturity to admit it.


Fri, 02/03/2012 - 10:12 | 2122891 mkanterm
mkanterm's picture

Thank you

Fri, 02/03/2012 - 09:56 | 2122801 HD
HD's picture

...and no one sees through this?

All those unemployed, and those no longer receiving benefits are just going to sit and wait quietly until November?

Fri, 02/03/2012 - 10:30 | 2123005 Silver Dreamer
Silver Dreamer's picture

You're assuming elections are under the control of We the People.  Since when has voting at the federal level stopped fascism's forward march?  Even if Obama loses, Romney will take his place on stage.  The puppet strings remain the same.

Fri, 02/03/2012 - 11:42 | 2123271 prains
prains's picture

hay man the superfool is on this weekend

Fri, 02/03/2012 - 09:56 | 2122802 johnQpublic
johnQpublic's picture

doesnt a labor force of only 63.7% mean unemployment is actually 36.3%?


irregardless of whether you want a job, you need to have one(or a sugardaddy)

Fri, 02/03/2012 - 10:00 | 2122822 Iriestx
Iriestx's picture

Irregardless isn't a word.  It's either regardless or irrespective, but not both

Fri, 02/03/2012 - 10:35 | 2123017 Silver Dreamer
Silver Dreamer's picture

"Not both" is not a sentence either.  Your last comma shouldn't be there.  May we please stick to the issues and not beat each other up over grammar and spelling?  If you want to fight, fight over the issues.

Fri, 02/03/2012 - 10:55 | 2123059 Badabing
Badabing's picture

If the BLS can make up numbers than John Q. can make up words!

Fri, 02/03/2012 - 11:16 | 2123166 viahj
viahj's picture

here's one... "bullishit"  perfectly describes these BLS numbers and the market ramp jobs

not my creation so whomever it was can have the claim

Fri, 02/03/2012 - 11:02 | 2123106 Dr. Engali
Dr. Engali's picture

I was politely busted on that word a couple of weeks back. I'm glad I was because now I have stricken it from my vocabulary. And technically it's a vocabulary issue and not a grammar issue.

Fri, 02/03/2012 - 12:06 | 2123414 pods
pods's picture

I like to argue on issues, dis-irregardless of the grammar or spelling.

Fri, 02/03/2012 - 12:11 | 2123449 francis_sawyer
francis_sawyer's picture

I'm forming a new political party... It's based on the principle of


Anyone want to join?

Fri, 02/03/2012 - 11:05 | 2123123 GeezerGeek
GeezerGeek's picture

Spelling can be important. Improper spelling can lead to misunderstandings, and heaven forbid that we should have misunderstandings on ZH. Consider these examples, which I have actually encountered in the past (not all on ZH):

Do you support world peace? How about whirled peas?

Or consider hair's breadth and hare's breath.

Or prime evil and primeval.

I personally tend to place less credence in the writings of those who can't spell properly, but I do try to make allowances for those whose primary language is probably not English.

Fri, 02/03/2012 - 12:15 | 2123460 francis_sawyer
francis_sawyer's picture

My political party (above)... Supports a platform of WHIRRLED PEAS...

(PS... my all time favorite... Buffett, when he said assets would become WORTH LESS [which was interpreted as WORTHLESS])...

Fri, 02/03/2012 - 10:10 | 2122884 Crash N. Burn
Crash N. Burn's picture

 Gotta make the people desparate enough to beg for the next step (in control). Unemployment and inflation.


"Inflationism, however, is not an isolated phenomenon. It is only one piece in the total framework of politico-economic and socio-philosophical ideas of our time. Just as the sound money policy of gold standard advocates went hand in hand with liberalism, free trade, capitalism and peace, so is inflationism part and parcel of imperialism, militarism, protectionism, statism and socialism." - Ludwig Von Mises

Your enemy is the state - Stephan Molyneux


Fri, 02/03/2012 - 10:13 | 2122900 mkanterm
mkanterm's picture

No because you obviously didn't pass macro 101 because if you did you would know that gosh.

Fri, 02/03/2012 - 10:26 | 2122969 Ghordius
Ghordius's picture

it's employed population divided by total population, i.e. including children and elderly. 63% is actually not that bad, internationally, but you have to be careful with the age cohort structure.

Brazil, at one point, had some 35% of the pop in their teens, now they joined the workforce

Fri, 02/03/2012 - 10:43 | 2123038 ElvisDog
ElvisDog's picture

You are missing the point. Those 1.2 million people are assumed by the government to have left the workforce voluntarily because they didn't need or want to work, so they aren't counted as unemployed. Even if you take the 1.2 million at face value, the idea that some or many of those people don't need or want a job is ludicrous.

Fri, 02/03/2012 - 11:19 | 2123175 RopeADope
RopeADope's picture

In other news, SSTF reports that it will go cash flow negative sooner than anticipated due to disability benefits being paid to 1.2M more people than expected in January.

Fri, 02/03/2012 - 11:01 | 2123101 whisperin
whisperin's picture

Yeah and if we apply that participation drop to the NFP don't you get a minus 900K NFP?

Fri, 02/03/2012 - 09:56 | 2122806 ekm
ekm's picture

I told you so.
Labor participation rate is quite lower. However, if they decide (NOT CALCULATE) to remove all unemployed from the labor participation rate, we could have 0% unemployment soon.
God, I feel like back in time, in Eastern Europe. All countries were fully employed.

Fri, 02/03/2012 - 10:18 | 2122931 victor82
victor82's picture

The only thing left is which bunk you get in the FEMA camp.

Top or bottom.

Fri, 02/03/2012 - 10:53 | 2123067 exi1ed0ne
exi1ed0ne's picture

In this market bottoming is all that's available

Fri, 02/03/2012 - 09:57 | 2122810 frostfan
frostfan's picture

But but but if we include people that aren't working as unemployed, that might make people sad and we need HOPIUM!!!!!



Fri, 02/03/2012 - 10:34 | 2123013 francis_sawyer
Fri, 02/03/2012 - 09:57 | 2122811 kralizec
kralizec's picture

Obamanomics, it gets results!

(I didn't say positive results!)

Fri, 02/03/2012 - 10:27 | 2122991 Xkwisetly Paneful
Xkwisetly Paneful's picture


Characterized by corporations hoarding cash, collecting lint on it out of fear of the thugs.

Fri, 02/03/2012 - 09:56 | 2122812 AU5K
AU5K's picture

The goal is to be at <7.5% by election day.  A 7.3 october print guarantees reelection.  they dont care how many are removed from the labor force to 'fix' the denominator.


unemployment is what we say it is.

Fri, 02/03/2012 - 10:00 | 2122827 JPM Hater001
JPM Hater001's picture

Get real.  The number will look good but when everyone knows someone unemployed or off the rolls it will be time for Reagans Famous: "When you loose your job its called a depression" quote.  Newt will be able to pull it off cleanly as he IS Ronald Reagan...

Fri, 02/03/2012 - 10:08 | 2122873 kralizec
kralizec's picture

I'd like to think you are right, but I dunno, Willard Romney has the E-GOP in the bag and buttloads of cash (contributor & personal)...and if Ron goes rogue, we would be assured of being stuck with this POS another term.

On the positive side, another term of this crap and we'll be starting over from scratch anyway...

Fri, 02/03/2012 - 10:27 | 2122989 victor82
victor82's picture

I had faith in Ron Paul until I found out he had made a Faustian Bargain with Mittens.

Ron Paul can't go rogue. It looks to me as if the Bushtards went to Paul and used his son against him the way Hyman Roth used Fredo against Michael Corleone in Godfather, Part II.

Now, who can you trust?

I'm down to Palin. She, I can trust. Maybe. At least all the right people hate her.

Fri, 02/03/2012 - 10:54 | 2123071 Silver Dreamer
Silver Dreamer's picture

"The best way to control the opposition is to lead it ourselves." 

When I see people mentioning other people like Newt and Palin however, I have to seriously ask the question:  Do you even know who the opposition is?  It isn't another candidate or party.  You're looking at the situation from the wrong perspective.  Lenin was of course right, but the two sides in competition right now are We the People and the fascist oligarchy!  The puppets that the oligarchy select for us to vote on are meaningless when it comes to the march of fascism.  When you control the entire political system of a nation state, it's awfully easy to control the "opposition."  Until more people finally wake up and realize that truth, we are going to continue to lose our liberties.

Fri, 02/03/2012 - 11:02 | 2123108 francis_sawyer
francis_sawyer's picture

Until more people finally wake up and realize that truth, we are going to continue to lose our liberties.

I've got news for you... You lost ALL your liberties back in 1913... You just aren't starting to realize that until now...

Fri, 02/03/2012 - 11:57 | 2123347 Jumbotron
Jumbotron's picture

Until more people finally wake up and realize that truth, we are going to continue to lose our liberties.

I've got news for you... You lost ALL your liberties back in 1913... You just aren't starting to realize that until now...




Give that man unlimted free copies of The Creature of Jekyll Island to give to all his friends and associates !

Fri, 02/03/2012 - 12:02 | 2123385 Silver Dreamer
Silver Dreamer's picture

Although I agree that the early 1900s were a mess, this goes back much further than that as you both already know.  It has been gradual of course, but you cannot ignore the results of the so-called Civil War and even the War of 1812 before it.

Fri, 02/03/2012 - 12:00 | 2123369 Silver Dreamer
Silver Dreamer's picture

Oh, I'm aware of what you're stating in general, but I meant more specifically how the entire system is out of our control now as individuals.  There's always more liberty to lose until you're lined up against a wall and shot too.  Although the odds are heavily against us, we must still fight none the less.  It is our duty to liberty itself and our children.

Fri, 02/03/2012 - 12:22 | 2123496 francis_sawyer
francis_sawyer's picture

There's always more liberty to lose until you're lined up against a wall and shot too.

Even that is an illusion...

A prisoner... Locked in a solitary cell & bound, gagged, & shackled can still exercise his free will I suppose by pissing himself...

'Liberty' is only a concept... It's fucking against the law to even try & kill yourself in our FREE SOCIETY...

Fri, 02/03/2012 - 12:04 | 2123406 Silver Dreamer
Silver Dreamer's picture

It should also be noted that my liberties are unalienable, and they cannot be "lost" simply because a law states it.  My rights are natural and no government decree will ever change that fact.

Fri, 02/03/2012 - 16:23 | 2124534 Tom of the Missouri
Tom of the Missouri's picture

Silver Dreamer, I am with Victor 82.   Palin would be a good choice about now.   She, like Paul, is not afraid to tell the truth and she stood up and defeated the good old boy Republican facisist in Alaska when governor. Unlike Paul, she also accomplished a few things in her brief political career.   As for you, what do you mean Lenin was right?  About what?  His preferred system of government?  I thought that collapsed with the Berlin Wall.    Only your guy Obama still believes in that? If you are talking about Lenin's preverable rope he bought from the capitalist though you are right about that for that is what Goldman is all about.

What's with the Sliver Dreamer thing?  Do you just dream about it while listening to  the great employment statistics on NPR instead of Rush  I bought mine already. Physical of course.


Fri, 02/03/2012 - 09:58 | 2122815 jelyfish
jelyfish's picture


Fri, 02/03/2012 - 09:58 | 2122816 tom a taxpayer
tom a taxpayer's picture

Lies, Damned Lies, and BLS Statistics.

Fri, 02/03/2012 - 09:58 | 2122818 Clayton Bigsby
Clayton Bigsby's picture

I sincerely hope the American people don't elect that butt pirate again based on shit like this, but unfortunately, they probably will...

Fri, 02/03/2012 - 10:01 | 2122834 JPM Hater001
JPM Hater001's picture

Hey, house...I dont know what country you are from but I dont see any leader doing the right thing.

Fri, 02/03/2012 - 12:02 | 2123392 jplotinus
jplotinus's picture

Election? What are you talking about? Obama or Romney, like Bush or Kerry, it really doesn't matter. For what it might be worth, Obama has more political talent than Romney, and that by a wide margin.

Fri, 02/03/2012 - 09:59 | 2122820 monopoly
monopoly's picture

I think they will dig into this very soon. Lets see if this is a sell the news item after the first hour. Not changing course at all. 

Fri, 02/03/2012 - 10:05 | 2122857 WonderDawg
WonderDawg's picture

I'm with you in spirit, but I've given up trying to guess WTF the market is going to do. Just sitting on the sidelines (mostly, other than some hemorraging March and April puts), holding dry powder, waiting, waiting...

Fri, 02/03/2012 - 09:59 | 2122821 falak pema
falak pema's picture

At least they got on one thing right : douse the FIRE brigade and ramp up the jack with tool box trade of Joe the plumber.

Fri, 02/03/2012 - 09:59 | 2122823 solgundy
solgundy's picture

nattering nabobs of negativism

Fri, 02/03/2012 - 10:02 | 2122830 cdude
cdude's picture

If you can't create jobs just get rid of the unemployed- problem solved.


BTW- What exactly IS the definition of "seeking employment"?

Fri, 02/03/2012 - 10:01 | 2122833 asteroids
asteroids's picture

The decline and fall of the US empire. So, so sad that the people in power can't be honest with their citizens and themselves.

Fri, 02/03/2012 - 10:01 | 2122835 Tsunami Wave
Tsunami Wave's picture

So is anyone at fox news, msnbc, CNN, CNN headline news, cnbc, NBC, abc, CBS, PBS, Bloomberg, or elsewhere going to talk about this stunning revealing piece of news?? Any of these fuckers????

Fri, 02/03/2012 - 10:04 | 2122850 steelrules
steelrules's picture

NO NOT ONE. MSM what a joke.

Fri, 02/03/2012 - 10:13 | 2122895 Fastback
Fastback's picture

Absolutley, These Asshats are corrupt. They just want the illusion to keep going. It will be hard for them to not report something now that it is on DrudgeReport.


Fri, 02/03/2012 - 11:19 | 2123176 tarsubil
tarsubil's picture

This is why the shift will not be gradual. Once the truth gets out, it will spread like wild fire. If Zerohedge keeps it up, the dollar might be rejected domestically before internationally.

Fri, 02/03/2012 - 10:16 | 2122922 HD
HD's picture

Why would they? Can't control the people if you don't control the message.

Fri, 02/03/2012 - 10:29 | 2122997 Shizzmoney
Shizzmoney's picture

Seriously, they need to learn a cue from Mr. Winston Wolf:

Fri, 02/03/2012 - 10:02 | 2122836 Watauga
Watauga's picture

It is not at all fair that so many of you attack our President, Congress, and the system when it is so obvious that it is all working so well.  Why don't you just leave them alone and let them save us?  Given the chance, BHO and the Blue/Red Congress will lead us into Paradise.  They are SO wonderful.  Please leave them alone.

Fri, 02/03/2012 - 10:02 | 2122838 Jlmadyson
Jlmadyson's picture

I really cannot believe this shit they are pulling at the labor department.


These people got some real balls.

Fri, 02/03/2012 - 10:14 | 2122905 snowbaall
snowbaall's picture

I'm so confused.  Are things getting better?  Is the world still in the shitter?  All this stuff is beyond my pay-grade.  Well, at least my asshole still smells like roses.  Not too many can claim that.  Looks like I'm unique.

Fri, 02/03/2012 - 16:33 | 2124580 Tom of the Missouri
Tom of the Missouri's picture

Whoops. Sorry for interrupting.   When I saw you smelling your asshole, I thought for a minute you were my good friend Silver Dreamer.   My apologies.

Fri, 02/03/2012 - 10:24 | 2122970 WonderDawg
WonderDawg's picture

That was my first thought. Their strategy, I guess, is to tell lies that are so outrageous, people wouldn't think they'd have the balls to make up something that ridiculous and expect anyone to believe it, so, people believe it.

Fri, 02/03/2012 - 10:02 | 2122839 scatterbrains
scatterbrains's picture

The crooks are dangling the carrot a little bit high this morning but I'm sure there are plenty of suckers that will find a way to jump high enough to grab some stocks lol.  I bet most of this gets flushed by the close today.

Fri, 02/03/2012 - 10:04 | 2122840 Snakeeyes
Snakeeyes's picture
Unemployment Rate Drops to 8.3%, But Median Duration of Unemployment Increases to 21.1 Weeks


This was actually a BAD report since to many dropped out of the labor force, So, of course unemployment went down.

Fri, 02/03/2012 - 10:03 | 2122846 westerman
westerman's picture

Steel production is up 50%, wheat is up 35%, workers are happier than ever and they all hail comrade stal, ops I mean Obama.

Seriously where did these people go? Are housewives that fashionable?

Fri, 02/03/2012 - 13:25 | 2123778 Matt
Matt's picture

It doesn't matter who votes, it matters who counts the votes.

It doesn't matter who produces how much of what, or how many people are employed, it just matters who reports the statistics.

Fri, 02/03/2012 - 10:05 | 2122855 ekm
ekm's picture



Fri, 02/03/2012 - 10:05 | 2122861 The trend is yo...
The trend is your friend's picture

Seems like Goldman made the right call on the Russell 2000 long after all.  But the catch 22 is if the economy is improving and their is "job growth" then Bernanke can't consider further easing which is not what the banking cartel wants so at some point in the very near future (i hope for my portfolio's sake) the market has to shake out

Fri, 02/03/2012 - 10:06 | 2122863 LawsofPhysics
LawsofPhysics's picture

Is there a "black market ETF"?  Anybody?

Fri, 02/03/2012 - 10:25 | 2122982 WmMcK
WmMcK's picture

Vietnam?  Warning: It's a deep rabbit hole, but I'm long "Dong work for Yuda".

Fri, 02/03/2012 - 10:07 | 2122866 pacdm
pacdm's picture

But its all good news.

Europe is good Greece, Portugal, Italy, Hungery all doing fine.

ECB going to give banks 1 trillion euro+ at the end month.

Housing is fixed

Facebook IPO

You could go on.

The markets around the world  just keep going up what difference between 2011 and 2012

Just no more bad news.

Fri, 02/03/2012 - 10:07 | 2122867 pacdm
pacdm's picture

But its all good news.

Europe is good Greece, Portugal, Italy, Hungery all doing fine.

ECB going to give banks 1 trillion euro+ at the end month.

Housing is fixed

Facebook IPO

You could go on.

The markets around the world  just keep going up what difference between 2011 and 2012

Just no more bad news.

Fri, 02/03/2012 - 10:07 | 2122870 alien-IQ
alien-IQ's picture

Sometimes, all you can do is sit back and marvel and the degree of shameless bullshit this government pushes on the people.

Truly an astonishing sight to behold.

Fri, 02/03/2012 - 10:08 | 2122875 Let The Wurlitz...
Let The Wurlitzer Play's picture

That 1M drop in the labor force is the Mexicans that left because things are now better in Mexico.

Fri, 02/03/2012 - 10:09 | 2122876 kralizec
kralizec's picture

Too bad nobody on the Hill has the stones to cut the funding off to these asshats!

Fri, 02/03/2012 - 10:11 | 2122877 Youri Carma
Youri Carma's picture

'If you can't make it, fake it'

Fri, 02/03/2012 - 10:16 | 2122919 alien-IQ
alien-IQ's picture

Government stats credibility is on par if not below that of "championship Wrestling"...And they share the same audience.

Fri, 02/03/2012 - 10:09 | 2122882 Fastback
Fastback's picture

Got it linked to Drudge......get the word out. This is a joke. The BLS will have us all dead soon.

Fri, 02/03/2012 - 10:11 | 2122888 victor82
victor82's picture

I'm sorry, Tyler, but I'd much rather see more manufacturing and construction jobs on this side of the Pacific. We have enough FIRE jobs. Manufacturing jobs, such as they may be, are a sign of long term health, imho.

Of course, it depends on where the wealth created by the manufacturer is repatriated, but there you have it.

Fri, 02/03/2012 - 10:15 | 2122915 El Hosel
El Hosel's picture

 Under the "new normal" guidlines 1,200,000 jobs were just "created", Rockin good news. Who says government can't create jobs.

Speach, Speech

Fri, 02/03/2012 - 10:31 | 2123006 fuu
fuu's picture

FIRE, what is it good for? Absolutely nothing.

Say it again...

Fri, 02/03/2012 - 10:12 | 2122892 oogs66
oogs66's picture lots dropped out, and lots found jobs...or someone made some typos?

Fri, 02/03/2012 - 10:14 | 2122903 alien-IQ
alien-IQ's picture

Has anybody noticed that the EUR/USD has dropped over 120 pips since the NFP was released yet the /ES will not pull back?

Fri, 02/03/2012 - 10:14 | 2122906 battle axe
battle axe's picture

Hey and American Airlines announced that 15,000 good paying jobs are going to be cut. "Obama Economic Policy: making the world a better place for you and me." I think I just invented his new campaign slogan.

Fri, 02/03/2012 - 10:15 | 2122912 Everybodys All ...
Everybodys All American's picture

Damn shame that the media will not report the truth any longer.

Fri, 02/03/2012 - 10:15 | 2122913 lizzy36
lizzy36's picture

Less people working than 2000, but 30 million people added to population. Obviously there is an underclass that just may not work again.

The reality is 90% of yanks will read the unemployment headline number. They have no clue what "labor participation" is.

Fri, 02/03/2012 - 10:36 | 2123007 BLOTTO
BLOTTO's picture

Thats it Lizzy...

All the masses want is a 2 minute news report  - the end.

The doors of perception have not yet opened for the herd.


Fri, 02/03/2012 - 11:09 | 2123137 Silver Dreamer
Silver Dreamer's picture


My TV is for entertainment, so who has time for facts anyway?  Tosh.0 is on!

/sarc off

Fri, 02/03/2012 - 10:18 | 2122917 Jlmadyson
Jlmadyson's picture

This is absolutely worse than any print under Bush.

I mean how in the world do 1.2M people fall off the labor map. Moreover add all the drops in the last few months what a complete joke.

Every single day this month 10000s of jobs cuts announced.



Fri, 02/03/2012 - 10:23 | 2122941 El Hosel
El Hosel's picture

Fuzzzy math GW Obummer

   This is "Great News" for the US Dollar, it should rally like crazy and croak oil and gold... Lets see if the "market" goes for the numbers.

Fri, 02/03/2012 - 11:03 | 2123114 BeerBrewer09
BeerBrewer09's picture

40 people layed off here last week. Morale is crippled, and things aren't looking good this year with inflation adding up to 40% (yes, 40%) in some areas of cost. Technological unemployment (software) is coming and that should shake another 100+. Soon I'll be brewing/farming/woodsplitting full time.

Good luck to all the invalids with no backup plan.

Fri, 02/03/2012 - 10:16 | 2122920 yogibear
yogibear's picture

Obama said he will get unemployment under 8% by election.  If he continues we could have an unemployment rate of 6% by November. A 100% he'll be elected at that point. Obama will use the BLS stats for his campaign.

Fri, 02/03/2012 - 10:17 | 2122929 mkanterm
mkanterm's picture

The change has nothing to due with economics and just a change in counting dur. Read the damn report this is from page 7

Fri, 02/03/2012 - 10:18 | 2122933 j0nx
j0nx's picture

Doesn't matter. The sheep are swallowing it hook line and sinker on the news forums. Obama creates 250k jobs and UE rate at 8.3%, suck it losers - I seriously just read that on a cnn forum...

Americans just can't come to grips with the fact that their government lies to them, especially in an election year.

Fri, 02/03/2012 - 10:19 | 2122934 kookaburra
kookaburra's picture

"As for the quality of jobs", perhaps Obama listened to Milton Friedman's advice, so he replaced shovels for spoons, you know, for the jobs creation program. Genius!

Fri, 02/03/2012 - 10:18 | 2122936's picture

Titanic Captain..."Yes, things look bad.....but pay attention to the violin players....not the water (debt) rushing in"

Fri, 02/03/2012 - 10:19 | 2122939 Lil Ms.Homesteader
Lil Ms.Homesteader's picture

According to Newspeak, it's 'doubleplusgood' news!

Fri, 02/03/2012 - 10:23 | 2122940 dwdollar
dwdollar's picture

There isn't anything anyone can say to make this look more ridiculous than it's face value. It is what it is folks. Welcome to the future. If they are cheating on the unemployment number, do you really think they aren't cheating on this number? You have to move away from government dependence in all aspects, including statistics, if you want the truth.

Fri, 02/03/2012 - 10:20 | 2122948 chindit13
chindit13's picture

For those who want to see it with their own eyes, go to the BS website at and download the pdf, then go to page 8.

There is also an interesting comment on page 6, as follows (as Tyler would say, no editorial comment necessary)

"The adjustment increased the estimated size of the civilian noninstitutional population in December by
1,510,000, the civilian labor force by 258,000, employment by 216,000, unemployment by 42,000, and
persons not in the labor force by 1,252,000. Although the total unemployment rate was unaffected, the
labor force participation rate and the employment-population ratio were each reduced by 0.3 percentage
point. This was because the population increase was primarily among persons 55 and older and, to a
lesser degree, persons 16 to 24 years of age. Both these age groups have lower levels of labor force
participation than the general population."

Fri, 02/03/2012 - 21:26 | 2125608 Pants McPants
Pants McPants's picture

Heh, great find Chindit13!

Fri, 02/03/2012 - 10:21 | 2122953 Captain Kink
Captain Kink's picture

Santelli just cited ZH! Go Rick!

Fri, 02/03/2012 - 12:05 | 2123202 Silver Dreamer
Silver Dreamer's picture

I never listen to Rush Limbaugh, but two days ago I had a long road trip.  For the 5 minutes I could stand, he mentioned Zero Hedge as well!

Fri, 02/03/2012 - 16:06 | 2124448 Tom of the Missouri
Tom of the Missouri's picture

What do ya have, little delicate ears sissy boy?    You probably voted for little delicate sissy boy Obama, too, didn't you.   Did you too go to Harvard like the Obama sissy boy Marxist or did you drop out of Missour State U like Rush? I am presuming something similar to the former.  That O, he is soooo smart. While at Harvard did you study Saul Alinski, too?    I am sure Rush appreciates you informing on him to TD like a good little minion while Rush broadasts the truth to millions every day for 20 plus years now while making billions from millions of common sense grounded loyal middle American listeners to help put fuel in his G5.  So you take road trips do you?   What did you do, go to New Jersey or Conneticut?    Well at least you know how to drive.  Maybe there is hope for ya.

Fri, 02/03/2012 - 10:22 | 2122955 stant
stant's picture

lies works so  much better than printing. but if you put the 2 together you get reseses pieces out the back of a unicorn.

Fri, 02/03/2012 - 10:22 | 2122956 Awakened Sheeple
Awakened Sheeple's picture

Gotta love Santelli quoting this and Zh.

Fri, 02/03/2012 - 10:22 | 2122960 eckart
eckart's picture

This report stinks!

Fri, 02/03/2012 - 10:23 | 2122962 Yen Cross
Yen Cross's picture

 Kudos to Santelli for giving props to ZH on that drop in participation. These f..king numbers are laughable. Keep it real Rick!

Fri, 02/03/2012 - 10:28 | 2122995 Village Smithy
Village Smithy's picture

It will be interesting to see if that little piece of ZH history ever makes it to CNBS's video replay list. I bet it will be as if it never happened. I missed it so I hope I'm wrong.

Fri, 02/03/2012 - 11:57 | 2123344 r101958
r101958's picture

I would like to see them report on another ''coincidence"; How there has been a 'miraculous' $5 increase in the spread between WTI and Brent. Was at $ at $15. More smoke and mirrors?

Fri, 02/03/2012 - 10:23 | 2122966 firerx
firerx's picture

Someone buy Tyler a drink, Rick Santelli mentioned Zerohedge this morning. :)

Fri, 02/03/2012 - 10:36 | 2123025 alien-IQ
alien-IQ's picture

Sounds like Santelli is going to find himself on the business end of the next BLS report if he keeps mentioning ZH on CNBC.

Fri, 02/03/2012 - 10:24 | 2122972 BurningFuld
BurningFuld's picture

Canada's participation rate has stayed at 66.7% year over year vs US rate now at damn socialists..........

Fri, 02/03/2012 - 10:25 | 2122981 Village Smithy
Village Smithy's picture

Obama obviously never ran track in high school. It's always a big mistake to peak too early. There will be no room to play with numbers by the time the autumn rolls around. Good luck with that.

Fri, 02/03/2012 - 10:29 | 2123000 wonderatitall
wonderatitall's picture



Fri, 02/03/2012 - 11:49 | 2123302 toomanyfakecons...
toomanyfakeconservatives's picture

Obama did have one job... lawyer for Acorn who sued Illinois over ID requirement to vote.

Fri, 02/03/2012 - 12:01 | 2123378 lakecity55
lakecity55's picture

Yeah, but, gee, he somehow no longer has a law license...

Fri, 02/03/2012 - 12:27 | 2123510 francis_sawyer
francis_sawyer's picture

Yeah... But he has the power of handing out Presidential Pardons... That's why he'll win in November...

That PARDON list (by 2016) is going to be pretty long...

Fri, 02/03/2012 - 11:54 | 2123324 Calmyourself
Calmyourself's picture

We can hope they have screwed the timing but this is all put together with WS, Fed and others coordination.  A true black swan will need to arise in order to throw off the number manipulation prior to the election. 

Fri, 02/03/2012 - 10:26 | 2122984 demsco
demsco's picture

Census Bureau adjustment:

The adjustment increased the estimated size of the civilian noninstitutional population in December by 1,510,000, the civilian labor force by 258,000, employment by 216,000, unemployment by 42,000, and persons not in the labor force by 1,252,000. Although the total unemployment rate was unaffected, the labor force participation rate and the employment-population ratio were each reduced by 0.3 percentage point. This was because the population increase was primarily among persons 55 and older and, to a lesser degree, persons 16 to 24 years of age. Both these age groups have lower levels of labor force participation than the general population. Data users are cautioned that these annual population adjustments affect the comparability of household data series over time. Table C shows the effect of the introduction of new population estimates on the comparison of selected labor force measures between December 2011 and January 2012. Additional information on the population adjustments and their effect on national labor force estimates is available at Do I agree? No, but there is a reason for the hokey stick
Fri, 02/03/2012 - 11:59 | 2123370 r101958
r101958's picture

sarc/on: I believe in coincidence. sarc/off

Fri, 02/03/2012 - 12:52 | 2123606 Matt
Matt's picture

A million people turned 55 last year. Bullish for health care stocks!

Fri, 02/03/2012 - 10:31 | 2122992 Monedas
Monedas's picture

Rush mentioned ZH again ! He suggested BLS "BS" was highly likely on his Thursday program !  Monedas  2012  The Muslim Jewish Conflict is like a Tom 'n' Jerry Khartoon !

Fri, 02/03/2012 - 10:28 | 2122994 Fix It Again Timmy
Fix It Again Timmy's picture

1.2 million people can now spend MORE time on FarceBook - BUY! BUY!  BUY!

Fri, 02/03/2012 - 10:29 | 2123001 Coldsun
Coldsun's picture

Tyler just got Drudged...

Fri, 02/03/2012 - 10:35 | 2123015 BLOTTO
BLOTTO's picture

The masses are just happy Janet and Chrissy are friends again. Don't worry about it...

RIP Jack.


Fri, 02/03/2012 - 10:38 | 2123029 Monedas
Monedas's picture

Looks like stocks and PM's aren't buying these phony BLS numbers !

Fri, 02/03/2012 - 10:40 | 2123030 dwdollar
dwdollar's picture

How many charts have we seen this week in which a peak occurred around 2000?

Fri, 02/03/2012 - 10:42 | 2123034 Frastric
Frastric's picture

Here's comes the recession, and as usual the fact that more people left the work force then entered it (700000 more people left the work force than entered it) is totally unreported. This is recessionary news, and it will probably show up in the BS BLS reports halfway into the year.

Unless it was a fluke...


Fri, 02/03/2012 - 10:42 | 2123035 Use of Weapons
Use of Weapons's picture

Off topic, but here's a guaranteed 600 reply topic:

Anonymous hacks white supremacy groups; Ron Paul "linked" to American Third position & BNP (UK) ~ expect media blow-out.


Contains the 'smoking gun' emails ~



Fri, 02/03/2012 - 11:47 | 2123295 toomanyfakecons...
toomanyfakeconservatives's picture

Boring and tedious... I don't see this "story" gaining much traction.

Sat, 02/04/2012 - 01:56 | 2126064 Use of Weapons
Use of Weapons's picture

Ahh... but the meat is in the effort, of course.

Fri, 02/03/2012 - 10:45 | 2123043 toomanyfakecons...
toomanyfakeconservatives's picture

Record 1.2 Million People Freed From Wage-Slavery... Most Want Their Chains Back

Fri, 02/03/2012 - 11:00 | 2123094 rsnoble
rsnoble's picture

I wouldn't exactly call living in a shelter with no health insurance that great.  Granted everyone's on the "make your own job" kick but that's essentially run your own business and the statistical success for that is what?  Unless you are lucky enough to live with someone else that doesn't make you pay or you're willing to walk outside with a backpack and stay there and beg for living...........there's no getting by in this world without making money.  If you like to eat you'll always be a slave in one way or another.  This society requires it.

Fri, 02/03/2012 - 12:03 | 2123396 r101958
r101958's picture

'I wouldn't exactly call living in a shelter with no health insurance that great.' 

100 years ago nobody had health insurance. Why is it necessary for 'happiness' now?


Thu, 03/01/2012 - 10:29 | 2212327 boiltherich
boiltherich's picture

100 years ago nobody had ANY healthcare to speak of, you could learn all they knew about health and biology/medicine in a few months.  And when people did need a doctor he only charged what they could afford, there was no private for obscene profit insurance companies, no global "nonprofit" hospital corporations making billions per year, no repetitive diagnostic testing at hundreds or thousands a pop, no $23,000 per dose orphan drugs...

"Alexion Pharmaceutical's Soliris, at $409,500 a year, is the world's single most expensive drug. This monoclonal antibody drug treats a rare disorder in which the immune system destroys red blood cells at night. The disorder, paroxysymal nocturnal hemoglobinuria (PNH), hits 8,000 Americans. Last year Soliris sales were $295 million. Since Alexion started selling Soliris two years ago, its stock price is up 130%."


We are lucky to live in an age where so much medical misery is a thing of the past, but the pricing of care is just not related to any real economic foundations, if we do not put a stop to this theft of capital by the industry it will kill the nation by 2020.  We need to make a system that delivers care but where fictional pricing is no longer a part of it, first to go will have to be insurance, it adds no benefit to care and takes untold billions.  They set prices and make policy and let us be frank, they are not doing a good job, in fact we would be better off if we had burglars just doing home invasions every night while we sleep. 

I was born in 1958, a normal delivery with Mom staying in the hospital for 6 days, total billing under $400.  People did not have to have insurance because they could afford the bills without it.  Insurance has created a system whereby the public would be bankrupted by a simple infection, and many are bankrupted even with insurance just due to their copays and share of costs.  You might not like Obamacare or universal care of any kind but get mentally prepared for it because it is in your future.

Fri, 02/03/2012 - 10:52 | 2123061 WoodMizer
WoodMizer's picture

The govenrment will lie until reality asserts itself.

Food stamps and Tax reciepts will continue to tell the truth; the BLS can say whatever they want.

Liars, and manipulators will out themselves with time.

Fri, 02/03/2012 - 11:06 | 2123125 youngman
youngman's picture

They had a stat out today that corporate profits are up ..but tax revenues are at a 12.1% rate..much lower.....something is up....

Fri, 02/03/2012 - 10:53 | 2123070 rsnoble
rsnoble's picture

I told you guys this market is just hovering for good news, fabricated or not. Like it or not we just smashed threw a huge trendline. That's what they were wanting. If it holds and continues to hold above this coming monday there's a high probability this POS continues higher. The feds hire the best technical traders in the world. Pile of horseshit or not, it is what it is.

Like I also mentioned earlier........they'll have 50% of population in tent city with 5.4% unemployment @ DOW 36k. LOL.

Fri, 02/03/2012 - 10:59 | 2123091 SmoothCoolSmoke
SmoothCoolSmoke's picture

Agree completely.  Bernake is looking at the SP 500 right now and saying  "Scoreboard"

Fri, 02/03/2012 - 11:07 | 2123109 razorthin
razorthin's picture

Oh yeah?  Well I am looking at oil today and other non-PM commodities and it is telling me WE lose.

Fri, 02/03/2012 - 11:19 | 2123174 boiltherich
boiltherich's picture

You beat me to it Razor, first thing I did was shoot a look at oil and other fuels and low there is gasoline at $2.9127 up 4.3 cents just on this news, meaning it will by $4.10 at the pump by the end of the month and that will kill any partying spirit engendered by this bogus employment report because people will realize they need TWO jobs to get by.

Fri, 02/03/2012 - 11:13 | 2123144 dwdollar
dwdollar's picture

They lie because it works. If 50% of the population starts living in tents, the people might stop believing the lies. I won't get my hopes up though.

Fri, 02/03/2012 - 11:23 | 2123197 rsnoble
rsnoble's picture

Don't get me wrong, im just refering to the technical perspective of the S&P, nothing else.  Eventually all the stuff makes a difference but when?  It is all ridiculous, yes things are fradulently better so now we need higher gas prices because more people are working(not). The BLS should be renamed to BFS.

Fri, 02/03/2012 - 10:59 | 2123087 razorthin
razorthin's picture

This market is ripe for a fukking crash.

Fri, 02/03/2012 - 11:02 | 2123107 Stuck on Zero
Stuck on Zero's picture

The labor force did shrink. 1.5 million Americans in the labor force just moved overseas.

Fri, 02/03/2012 - 11:03 | 2123118 Dr. Engali
Dr. Engali's picture

Is anybody else having a problem with the site or is it just my computer?

Fri, 02/03/2012 - 11:18 | 2123163 dwdollar
dwdollar's picture

Drudge Report is linking here.

ALSO, there is a bad script somewhere (probably an ad) that keeps crashing my browser (Firefox 4.0.1) for several days now. I have to turn scripts off to visit Zerohedge.

Do NOT follow this link or you will be banned from the site!