The release of the employment data left all people with the remotest notion of what the terms social demographic and/or labour statistics mean. At the end of the show-line of the top two graphs, please notice that each makes a perpendicular deviation. One shoots straight up to the moon and the other falls off the cliff. Such an incident in graphic demonstration of statistics such as those being considered yesterday and to-day is....extremely rare. Rare enough, in fact, to have occurred only one other time....and that was during the Clinton Adminstration, and which was later confessed to have been a purposeful misrepresentation.
http://www.breitbart.tv/not-so-fast-santelli-deconstructs-jobs-numbers-2/ Click here to pick-up on Santelli's take about the jobs numbers. Very depressing
All OROGs know that my preference is not to borrow, but rather to serve up fresh writing. This entry below, however, is the best explanation of creative accounting by the O'bamaham administration. Those of us who are literate and old enough remember the Clinton Administration doing the same thing back in 1998 in an effort to mollify the electorate before the Congressional elections. The Tech Bubble was well underway by then, and became apparent to even the dullest Democrat observers by the year 1999. We forget that the "eight years of Clinton Prosperity were actually three bad years at the beginning and two bad years at the end. His and the Democrats tax increases in 1993 delayed the recovery that had already begun in 1992, but King George I was dead meat by that time anyway. Killed by Ross Perot and "Read My Lips". Clinton did not ever poll above 50.0 percent either in 1992 or 1996.
Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low
Submitted by Tyler Durden on 02/03/2012 08:51 -0500
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.
All OROGs should know that these graphs are radioactive, so they can be expanded to a readable size.