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(Talking Points Memo)   Outraged by the re-election of the Kenyan Usurper, job creators added 146,000 jobs in November, dropping the unemployment rate to 7.7%   (livewire.talkingpointsmemo.com) divider line 315
    More: Interesting, unemployment, U.S., U.S. economy  
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996 clicks; posted to Politics » on 07 Dec 2012 at 12:41 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-12-07 08:58:19 AM
Ever since about 2000 I always read the word "usurper" with Marge Simpson's voice in my head.
 
2012-12-07 08:59:01 AM
Truly history's greatest monster
 
2012-12-07 09:02:32 AM
Who here really believes that unemployment is 7.7%
 
2012-12-07 09:06:26 AM

EnviroDude: Who here really believes that unemployment is 7.7%


I do. I believe the U3 is at 7.7% and accurate to 1 tenth of a percent. We can debate the merits of the U3 as an economic indicator but to deny it is stupid.
 
2012-12-07 09:06:47 AM
Wait, I thought the rate was going to go up considerably this month since they artificially reduced it back in October in order to make sure Insane OTaxus got back into office.
 
2012-12-07 09:07:00 AM
I don't know why anyone is surprised. Republican policy always bears fruit during Democratic presidencies.
 
2012-12-07 09:08:30 AM
Ha ha. The U6 dropped to so the Conservatives can't even use the contracting labour force market argument.

Maybe Obama is fudging the numbers to win the upcoming Presidential elections?

/suck it haters
 
2012-12-07 09:09:22 AM
After unskewing the results, I've determined that the real numbers are 800 million jobs lost and an increase in the unemployment rate to 100 billion percent.
 
2012-12-07 09:09:56 AM
Mitt Romney is such a great guy that he told Obama how to create jobs over their turkey chilli lunch, even though he lost the election.
 
2012-12-07 09:10:13 AM
BLS report for November 2008: 533,000 jobs lost. 

Clearly Obama made the economy worse.
 
2012-12-07 09:10:15 AM

hillbillypharmacist: Wait, I thought the rate was going to go up considerably this month since they artificially reduced it back in October in order to make sure Insane OTaxus got back into office.


These jobs were all created because industry thought Romney was going to be President. Once it really sinks in (perhaps on inauguration day) that the usurper is still in charge, expecting the U3 to skyrocket.

Or, this is still part of the Bush recover,

Or, they are skewed numbers.
 
2012-12-07 09:11:35 AM
I suggest Conservatives give up on the "economy is not improving" argument and switch to the "it is improving despite Obama" argument.
 
vpb [TotalFark]
2012-12-07 09:11:46 AM

EnviroDude: Who here really believes that unemployment is 7.7%


Everyone who has a grip on reality. I suppose unskewed_unemployment.com will be along soon.
 
2012-12-07 09:11:55 AM
...and the labor participation rate dropped back 0.2%. 146,000 new jobs filled, 540,000 potential jobs lost.

This is not the good news some would like it to be.
 
2012-12-07 09:15:22 AM

EnviroDude: Who here really believes that unemployment is 7.7%


The only unemployment measure you believe is one where it only goes up while Obama is President.
 
2012-12-07 09:20:48 AM

mrshowrules: I suggest Conservatives give up on the "economy is not improving" argument and switch to the "it is improving despite Obama" argument.


Thats next week.
 
2012-12-07 09:24:44 AM

mrshowrules: Ha ha. The U6 dropped to so the Conservatives can't even use the contracting labour force market argument.

Maybe Obama is fudging the numbers to win the upcoming Presidential elections?


That's clearly what is happening.
 
2012-12-07 09:26:29 AM

gerrymander: ...and the labor participation rate dropped back 0.2%. 146,000 new jobs filled, 540,000 potential jobs lost.

This is not the good news some would like it to be.


The labor force participation rate is dropping because Boomers are retiring in droves.
 
2012-12-07 09:26:54 AM
In other news, malls and big box stores are to be fellated for hiring workers whom they will shiatcan on January 2.
 
2012-12-07 09:28:55 AM
Once ObamaCare fully kicks in, 1 million jobs (all from small business) will be lost and your rent will go up you libturds.
 
2012-12-07 09:35:28 AM

Counter_Intelligent: I don't know why anyone is surprised. Republican policy always bears fruit during Democratic presidencies.


Ha!

And the results of Democrats' screw-ups only manifest during Republican administrations.
 
2012-12-07 09:37:01 AM

usernameguy: gerrymander: ...and the labor participation rate dropped back 0.2%. 146,000 new jobs filled, 540,000 potential jobs lost.

This is not the good news some would like it to be.

The labor force participation rate is dropping because Boomers are retiring in droves.


I'll believe it when I see it. At my office they're clinging to their posts like lampreys.
 
2012-12-07 09:41:11 AM
"It's good news against expectations, but that's about it," said Steve Blitz, chief economist at ITG Investment Research.

The numbers had some puzzling contradictions, particularly in the assertion that Sandy "did not substantively impact" the jobs count for November, and in substantial downward revisions from previous months.

Also, the drop in the unemployment rate appeared to reflect little more than a continued exodus of workers from the labor force.

The labor force participation rate, already around 30-year lows, fell further in the month to 63.6 percent. That represented 350,000 fewer workers.

In all, there were a net 122,000 fewer people with jobs.

An alternative measure of unemployment, which counts those who have given up looking for jobs as well as those working part-time for economic reasons, also edged lower to 14.4 percent.

"Same old, same old. The government managed to get the unemployment rate down by shrinking the labor force and convincing a lot of people they're better off collecting unemployment benefits or living off welfare than working," said Peter Schiff, CEO and chief global strategist at Euro Pacific Capital. "It's more bogus government numbers."

Source

Statistics are fun, but reality can be a real bummer.
 
2012-12-07 09:45:17 AM

vpb: EnviroDude: Who here really believes that unemployment is 7.7%

Everyone who has a grip on reality. I suppose unskewed_unemployment.com will be along soon.


Shadowstats.com has been around forever. And yes, it's about as grounded in reality as you'd expect.
 
2012-12-07 09:46:29 AM

Mentat: Once ObamaCare fully kicks in, 1 million jobs (all from small business) will be lost and your rent will go up you libturds.


You mean like Papa John said? Face it, employers are going to realize that they can treat their employees like human beings and still make a profit.

/Why don't I have you in pink yet?
 
2012-12-07 09:47:52 AM
i.imgur.com
 
2012-12-07 09:48:04 AM

you have pee hands: Shadowstats.com has been around forever. And yes, it's about as grounded in reality as you'd expect.


Wow, they don't waste time: "Have you ever wondered why the CPI, GDP and employment numbers run counter to your personal and business experiences? The problem lies in biased and often-manipulated government reporting."

100% of me are unemployed, but the government claims the unemployment rate is less than 100%? BOGUS NUMBERS!
 
2012-12-07 09:50:10 AM

usernameguy: gerrymander: ...and the labor participation rate dropped back 0.2%. 146,000 new jobs filled, 540,000 potential jobs lost.

This is not the good news some would like it to be.

The labor force participation rate is dropping because Boomers are retiring in droves.


and its about damn time.
 
2012-12-07 09:51:56 AM
146,00 jobs created
540,000 people dropped from labor force

What's really causing the unemployment rate to go down?
 
2012-12-07 09:57:10 AM

Il Douchey: 146,00 jobs created
540,000 people dropped from labor force

What's really causing the unemployment rate to go down?


People retiring, apparently.
 
2012-12-07 10:01:18 AM

RexTalionis: Il Douchey: 146,00 jobs created
540,000 people dropped from labor force

What's really causing the unemployment rate to go down?

People retiring, apparently.


Some of them voluntarily too
 
2012-12-07 10:01:57 AM

Gulper Eel: In other news, malls and big box stores are to be fellated for hiring workers whom they will shiatcan on January 2.


unemployment numbers are adjusted for seasonal jobs likes that. so you don't see artificial bumps/dips in nov/dec and jan.
 
2012-12-07 10:02:12 AM
95% of the new jobs are paid Heritage Foundation fark troll accounts though
 
2012-12-07 10:02:47 AM
In other news, malls and big box stores are to be fellated for hiring workers whom they will shiatcan on January 2.

Ahhh holy sh*ttttttt
 
2012-12-07 10:04:19 AM

EnviroDude: RexTalionis: Il Douchey: 146,00 jobs created
540,000 people dropped from labor force

What's really causing the unemployment rate to go down?

People retiring, apparently.

Some Almost all of them voluntarily too


FTFY
 
2012-12-07 10:06:29 AM

hillbillypharmacist: Insane OTaxus


That's my new favourite.
 
2012-12-07 10:09:44 AM

Jackson Herring: In other news, malls and big box stores are to be fellated for hiring workers whom they will shiatcan on January 2.

Ahhh holy sh*ttttttt



I love how proof from the right that the economy is in shambles is that apparently stores are starting to hire seasonal workers in October and November now.
 
2012-12-07 10:12:14 AM

Slaxl: hillbillypharmacist: Insane OTaxus

That's my new favourite.


Broke Insane OTaxus
 
2012-12-07 10:13:50 AM

EnviroDude: Who here really believes that unemployment is 7.7%


So what you're saying is that you would believe it if the number were more to Obama's disadvantage? At what point would that be? The magical double-digit 10%?

Knowing you, you were one of those people who claimed that the polls were hopelessly skewed when they showed a clear Obama advantage, but tripped over yourself defending those same polls once the numbers started going Romney's way.

You're pretty pathetic, Phil.
 
2012-12-07 10:21:44 AM
I'm curious.  Not enough to look it up though.  Are the other unemployment numbers higher than normal for this 7.7% number?  U whatever numbers that show those who have quit looking, gone on disability, etc...
 
2012-12-07 10:24:57 AM

I_C_Weener: I'm curious.  Not enough to look it up though.  Are the other unemployment numbers higher than normal for this 7.7% number?  U whatever numbers that show those who have quit looking, gone on disability, etc...


There are U1-U6. U4-U6 are more inclusive and are, thus, higher numbers.
 
2012-12-07 10:26:08 AM

I_C_Weener: I'm curious.  Not enough to look it up though.  Are the other unemployment numbers higher than normal for this 7.7% number?  U whatever numbers that show those who have quit looking, gone on disability, etc...


The Bureau of Labor Statistics define U1-U6 as:

The six state measures are based on the same definitions as those published for the United States:

U-1, persons unemployed 15 weeks or longer, as a percent of the civilian labor force;
U-2, job losers and persons who completed temporary jobs, as a percent of the civilian labor force;
U-3, total unemployed, as a percent of the civilian labor force (this is the definition used for the official unemployment rate);
U-4, total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers;
U-5, total unemployed, plus discouraged workers, plus all other marginally attached workers, as a percent of the civilian labor force plus all marginally attached workers; and
U-6, total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers.
 
2012-12-07 10:27:25 AM

RexTalionis: I_C_Weener: I'm curious.  Not enough to look it up though.  Are the other unemployment numbers higher than normal for this 7.7% number?  U whatever numbers that show those who have quit looking, gone on disability, etc...

There are U1-U6. U4-U6 are more inclusive and are, thus, higher numbers.



Disproportionately higher, I mean.
 
2012-12-07 10:29:43 AM

I_C_Weener: I'm curious. Not enough to look it up though. Are the other unemployment numbers higher than normal for this 7.7% number? U whatever numbers that show those who have quit looking, gone on disability, etc...


U-6 is down the same .6% as the U-3 since July.
U-6 is down 1.2% since last November, whereas U-3 is down 1.0%

i.imgur.com
 
2012-12-07 10:33:55 AM

I_C_Weener: RexTalionis: I_C_Weener: I'm curious.  Not enough to look it up though.  Are the other unemployment numbers higher than normal for this 7.7% number?  U whatever numbers that show those who have quit looking, gone on disability, etc...

There are U1-U6. U4-U6 are more inclusive and are, thus, higher numbers.


Disproportionately higher, I mean.


I don't understand what you are asking.

The U4-U6 are always more inclusive, and thus, by that reasoning, they will be higher. However, even though the U4-U6 are higher, they almost always mirror the trend of the U3. Here is a chart with U1 (the lowest like), the U3 (the middle line) and the U6 (the top line). The U6 follows the U3 and U1 almost exactly:
www.ritholtz.com
 
2012-12-07 10:35:11 AM
This is obviously because of cannabis' growing legal stature.
 
2012-12-07 10:35:15 AM

RexTalionis: There are U1-U6. U4-U6 are more inclusive and are, thus, higher numbers.


Hey man, he's just asking questions.
 
2012-12-07 10:37:08 AM

Jackson Herring: RexTalionis: There are U1-U6. U4-U6 are more inclusive and are, thus, higher numbers.

Hey man, he's just asking questions.



Nope.  He answered it with the trend line.  But thanks for being the same charming person I've come to know and care so little about.
 
2012-12-07 10:41:16 AM

I_C_Weener: Jackson Herring: RexTalionis: There are U1-U6. U4-U6 are more inclusive and are, thus, higher numbers.

Hey man, he's just asking questions.


Nope.  He answered it with the trend line.  But thanks for being the same charming person I've come to know and care so little about.


So, to complete my answer - no, they are not disproportionate (though they are higher, by virtue of being a superset of U3).
 
2012-12-07 10:42:59 AM

MrBallou: Mentat: Once ObamaCare fully kicks in, 1 million jobs (all from small business) will be lost and your rent will go up you libturds.

You mean like Papa John said? Face it, employers are going to realize that they can treat their employees like human beings and still make a profit.

/Why don't I have you in pink yet?


I don't know, what's pink? And why do people still not realize when I'm being sarcastic?
 
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