Unemployment Rate Down To 5.6%

I knew you would post this. It is a bittersweet report, but I am glad at least the rate is going down-seemingly. When you hear Penney's is closing stores, and Macy's is closing stores, it is scary. The economy is not as great as you would have us believe, NB.

Oh look, it's that time of month again.

Another attempt to mask the collapse in the US labor force with a seasonally-adjusted surge in part time low-paying jobs.

Case in point: after a modest rebound by 0.1% in November, the labor participation rate just slid once more, dropping to 62.7% or the lowest point since December 1977.

This happened because the number of Americans not in the labor forced soared by 451,000 in December, far outpacing the 111,000 jobs added according to the Household Survey, and is the primary reason why the number of unemployed Americans dropped by 383,000.

Yes, you don't have to be too smart to figure out that seasonal Christmas hiring helped but it was low paying jobs. And as has been happening a lot more people left the labor force.

Mitt Romney boasted that he would get the unemployment rate down to 6% by the end of his first term. Obama got it down to 5.6% in half the time, so it looks like we elected the right guy!!

It's sad what has happened to America.

The American tax payers are being robbed.

The Fed panicked because deflation reduces their wealth. That is why they pain deflation as a horror of horrors, because it threatens the inflated value of the assets they have accumulated during inflation. So they convince Americans of the need to 'steal' wealth from the future to protect the value of their assets. It robs What Americans (lower prices for housing, health care, food, cars, and education). What the Fed is doing is trying to keep that from happening, for its own selfish interest. It's a crime, a shame, an intellectual dishonesty; the Fed is stealing taxpayer money and giving it to the world's rich.

We are six year into Obama’s reign. The recession has ended long ago yet there are hundreds of thousands of people giving up looking for work. Wages of the middle class have dropped significantly and progressives seem to think this is good thing.

The quest for an oligarchy is coming from your quarter, and unfortunately you're eating up all of this anti-Obama nonsense in the process. There will come a day, when you're a senior citizen, when you regret your present day views!!

News Buzzard wrote:The quest for an oligarchy is coming from your quarter, and unfortunately you're eating up all of this anti-Obama nonsense in the process. There will come a day, when you're a senior citizen, when you regret your present day views!!

I don’t believe there will ever be a day that I will wish to be a burden on my children and grandchildren.

If you look at the numbers, the biggest increases in employment are in those ages 55 and older. QE has disproportionally hurt certain seniors. Those who are retired and living off nest eggs are not receiving interest while their purchasing power has been greatly reduced. Many are forced back to work.

Blame the guy who oversaw the near collapse of the economy, not the guy who is rescuing it without your help!!

News Buzzard wrote:The economy created 252 thousand jobs last month, and prior months were upgraded!

"Toxic loans" are being made again, so we'll have another mortgage-based crash—quite possibly with a Republican President to get the blame. (Or another Democrat to continue to blame Bush).

The “civilian labor force” rolls dropped by 273k, even though the population increased by more than 180k. Also please consider the fact nasty news that BOLS reports that a whopping 93 million Americans have left the work force as of last month, that’s an increase of 456k over November. Certainly a percentage of those are Baby Boomers are retiring, but the labor force participation rate is crystal clear, it is now at 62.7% and declining, it has matched a 37 year low. The u/e rate has again declined, and that is good news. But again, a large portion of that decline is due to the increasing number of people who have quit even trying to work. When the Democrats took control of Congress, the u/e rate was 4.5%..today it is at 5.6%, an increase of nearly 30%.

Our middle class took yet another hit, because wages fell. The number of manufacturing jobs fell by 12k as compared to November.

But, and it’s a huge but — government employment increased by 50%. And you are going to pay their salaries.
BPK.com

...and their bloated pensions...




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News Buzzard wrote:The quest for an oligarchy is coming from your quarter, and unfortunately you're eating up all of this anti-Obama nonsense in the process. There will come a day, when you're a senior citizen, when you regret your present day views!!

That's not what I'm reading from Internet accounts.

What was Solyndra, but Democrat oligarchy?

News Buzzard wrote:Blame the guy who oversaw the near collapse of the economy, not the guy who is rescuing it without your help!!

Rescuing it???

Big layoffs are coming to eBay. The company is planning to slash 2,400 workers across the eBay and PayPal parts of the business..."
CNN Money

Falling gasoline prices may be great for consumers, but they’re tough on energy firms and their workers. The latest layoffs announcement comes from the oilfield services firm Baker Hughes, which plans to cut 7,000 employees — 11 percent of its workforce..."
ABC News

American Express will slash 4,000 jobs, even as the company reported that fourth quarter earnings were dented by foreign currency movements. Bloomberg reported that the job cuts are part of a restructuring, and a spokesperson said they will cut across the company..."
Business Insider

SALISBURY, Md. - A shocking turn of events on Wednesday, as aeronautical company Labinal Power Systems announced it will soon be closing its doors. This means over 600 employees -- about 94% from Wicomico County -- may be out of a job..."
WMDT-TV

In a wild swing of the ax that has shocked many pundits, Wall Street’s biggest banks have slashed nearly 50,000 jobs..."
NY Post

The drop in the price of oil will cost 9,000 workers at Schlumberger Ltd. (SLB) their jobs.
Yahoo Finance

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Outerlimits wrote:It's sad what has happened to America.

The American tax payers are being robbed.

The Fed panicked because deflation reduces their wealth. That is why they pain deflation as a horror of horrors, because it threatens the inflated value of the assets they have accumulated during inflation. So they convince Americans of the need to 'steal' wealth from the future to protect the value of their assets. It robs What Americans (lower prices for housing, health care, food, cars, and education). What the Fed is doing is trying to keep that from happening, for its own selfish interest. It's a crime, a shame, an intellectual dishonesty; the Fed is stealing taxpayer money and giving it to the world's rich.

We are six year into Obama’s reign.  The recession has ended long ago yet there are hundreds of thousands of people giving up looking for work.  Wages of the middle class have dropped significantly and progressives seem to think this is good thing.

Well stated.

U.S. initial jobless claims fall by 10,000 last week to 307,000

The number of people who filed for unemployment assistance in the U.S. last week fell less than expected, dampening optimism over the strength of the labor market, official data showed on Thursday.

In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending January 17 decreased by 10,000 to a seasonally adjusted 307,000 from the previous week’s total of 317,000. Analysts had expected initial jobless claims to decline by 17,000 to 300,000 last week.
Investing.com

NB's unicorns are about to arrive on his rainbow.






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"I'll get unemployment down to 6% by the end of my first term"!!-----Mitt Romney-2012

Run, Mitt, Run!!!  

Yes, participation in the work force is so low, how can you Dems. even pretend unemployment is down?

That's a favorite line of the Republicans, "90 million are not in the workforce, blah blah blah"! If you extrapolate the kids in high school, the kids in college and the senior citizens who have retired, that 90 million is really 20 million! There is no denying that 5.6% is a good number for unemployment, and in fact your leader of the obstructionist's pack, Mitch McConnell, tried to take credit for it despite the fact that the Republicans have passed zero jobs legislation. All of the nonsense they tried to pass was regulation killing stuff and tax cuts for corporations!

Where Did the Jobs Go?

"Somewhat remarkably, given that it has presided over the worst recovery–by far–of the post-war era, the Obama administration tries to slice and dice employment numbers to portray itself as a champion of job creation. There are, indeed, a few more jobs today than there were six years ago. Yet for most Americans, the employment scene has gotten worse, not better. Why is that?

{SNIP}

Think about this: despite American workers accounting for 70 percent of all population growth among adults, they received, on net, none of the post-recession jobs gains. As a result, there are 11 million more American workers outside the labor force today than 7 years ago. So, despite the trillions spent, the enormous interventions, the years spent trying to climb out of the economic doldrums, the total number of American workers who are employed today is 1.5 million less than at this time in 2007. All employment growth during this time went to foreign labor imported from abroad at less cost.

This is not an inexplicable phenomenon but the plain result of Washington policy: each year the U.S. admits 1 million permanent immigrants (overwhelmingly low-wage) in addition to 700,000 foreign guest workers, 500,000 foreign students, and 70,000 refugees and asylees. The number of foreign-born has quadrupled since 1970.

During that same time, the NYT reports: “More than 16 percent of men between the ages of 25 and 54 are not working, up from 5 percent in the late 1960s; 30 percent of women in this age group are not working, up from 25 percent in the late 1990s. For those who are working, wage growth has been weak, while corporate profits have surged.”

Powerline

Even LEGAL Immigration needs cutting!




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Last week Food Lion closed its 66 discount Bottom Dollar stores.

Women's fashion discount retailer Deb Shops is closing all of its stores in Michigan and nationwide.

Jacksonville-based Body Central closing all of its 265 stores; 2,500 out of work

BOISE, Idaho (AP) — A technology company says it will lay off more than 1,500 employees at a Boise call center where workers handle questions about the federal health care law.

VANSANT, Va. -- Some 175 miners at three SunCoke Energy facilities were laid off today after their mines were idled, company officials announced this afternoon.

Ms. Kaminer will join a hundred or so of her colleagues on the unemployment line as The New York Times once again cuts costs by cutting journalists...

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So you may have described the loss of 10 thousand jobs while the economy is creating well over 200 thousand jobs a month. That's what it's like to be a gloomy on the Forum of GLoom!

Nearly 100 workers at Ford's Chicago Assembly Plant got a robocall telling them their services were no longer needed and they were terminated.
nwi timed

Turner Broadcasting, the parent company of CNN, will cut its total workforce by about 10% in the coming weeks through a mix of buyouts, layoffs and other measures, the company said Monday...The company said about 1,475 positions — out of 14,000 full-time positions worldwide — would be eliminated in the coming weeks. Within CNN Worldwide, where the workforce totals roughly 3,500, about 300 positions will be cut, according to a person with direct knowledge of the plan, totaling 8.5%.
CNN  

[HP] will also trim another 5,000 employees from its payroll. And even that won't be the end of a massive multiyear layoff that grows bigger every few months...

Back then, HP said it would cut 27,000. [HP] had doubled the target, to 50,000, with 36,000 employees already gone. On Monday, it bumped up the new layoff target, yet again, to 55,000..."
Yahoo Finance via Business Insider

[The] closure will cost the town of 5,000 people almost half of its tax revenue...Hundreds of mill workers from across the state will find themselves without jobs...More than 500 employees will be out of work in the third mill closure in Maine this year..."
Portland Press  Herald

WICHITA, Kan. - A major cut for the Air National Guard unit based at McConnell Air Force Base.

According to Sharon Watson with the Adjutant General's Office in Topeka, around 30% of full time guard members at McConnell will be cut. That works out to around 150 jobs. Plus at least 60 part-time jobs are being cut as well.
KWCH-TV

(Reuters) - Microsoft Corp will close its Silicon Valley research-and-development operation as part of 2,100 layoffs announced on Thursday, as it moves toward its new CEO's goal of cutting 18,000 staff, or about 14 percent of its workforce.

Gloomy, indeed...




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NH, he picks and chooses what he wants to believe.

March 9, 2015 -- The U.S. dollar surged again last week, with the DXY index gaining nearly 3 points to finish at 97.67. The extraordinary move upward came at the expense of precious metals, bonds, and U.S. stocks which all fell sharply – particularly on Friday.

Investors reacted to the jobs data. The financial media trumpeted unemployment “falling” to 5.5% in last week’s jobs report. Maybe investors relied upon CNBC’s analysis and reached the wrong conclusion; that the falling unemployment rate and the economic recovery behind it supports the rationale for the Fed to abandon stimulus and start raising interest rates.

If the Fed raises rates, it’s good news for the dollar.  However, even if Fed officials may use declining headline unemployment as an excuse to raise rates, they are smart enough to know the underlying jobs data is anything but good. Maybe last week’s reaction to the Employment Situation indicates investors know better too.

A deeper look at the numbers, once again, reveals just what a sham the headline unemployment rate is. The fact is that 92.9 million Americans are no longer receiving unemployment benefits and remain without jobs. The BLS shoves them off the books for purposes of calculating the headline rate. The rate of employment is the lowest it has been since women began entering the workforce more than 40 years ago, and it’s continuing to fall.

Even the 92.9 million number doesn’t tell the whole story. Contributor Guy Christopher astutely points out the media errs almost universally by publishing that number as the total unemployed. They forget to add back in the number of people that the BLS actually recognizes; those without work, but still receiving benefits. This amounts to another 8.7 million in the most recent report.

So the official government number of working age Americans without a job is actually 101,600,000.  And that doesn’t even take into account some of the adjustments the BLS makes to underreport the unemployment epidemic, prompting the head of the prestigious Gallup Organization to call the government's unemployment number "The Big Lie."

The real question is: when will investors return their focus to exponentially growing debt and perpetual deficits here at home?





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But the Libs look at ONE thing or the news that SOUNDS good.

More BS from the Right Wing Book O Mythology!!!

http://www.bls.gov/news.release/empsit.nr0.htm