US Unemployment Rate at 8.3% in January – 12.8 Million Remain Unemployed – Worst Recovery on Record …Update: 1.2 Million Drop Out of Labor Force
Posted by Jim Hoft on Friday, February 3, 2012, 7:48 AM
Barack Obama is the worst jobs president since the Great Depression.
The Unemployment rate dropped to 8.3% in January from 8.6%.
The AP reported:
The unemployment rate fell for the fifth straight month after a surge of January hiring, a promising shift in the nation’s outlook for job growth.
The Labor Department says employers added 243,000 jobs in January, the most in nine months. The unemployment rate dropped to 8.3 percent from 8.5 percent in December. That’s the lowest in nearly three years.
Employers have added an average of 201,000 jobs per month in the past three months. That’s 50,000 more jobs per month than the economy averaged in each month last year.
The January jobs report was filled with other encouraging data and revisions. Hiring was widespread across many high-paying industries. Pay increased. And the economy added 200,000 more jobs in 2011 than first thought.
12.8 million Americans remain unemployed.
The Bureau of Labor Statistics reported:
The unemployment rate declined by 0.2 percentage point in January to
8.3 percent; the rate has fallen by 0.8 point since August. (See table
A-1.) The number of unemployed persons declined to 12.8 million in
January. (See the note and tables B and C for information about annual
population adjustments to the household survey estimates.)Among the major worker groups, the unemployment rates for adult men
(7.7 percent) and blacks (13.6 percent) declined in January. The
unemployment rates for adult women (7.7 percent), teenagers (23.2
percent), whites (7.4 percent), and Hispanics (10.5 percent) were
little changed. The jobless rate for Asians was 6.7 percent, not
seasonally adjusted. (See tables A-1, A-2, and A-3.)In January, the number of job losers and persons who completed
temporary jobs fell to 7.3 million. The number of long-term unemployed
(those jobless for 27 weeks or more) was little changed at 5.5 million
and accounted for 42.9 percent of the unemployed.
It’s an Obama world. Its an Obama recovery.
Barack Obama is also the first US President to lose one million jobs during a “recovery” period.
UPDATE: Record 1.2 Million People Fall Out Of Labor Force In One Month
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ar05075 commented:
Unemployment is actually 10.3%
Warthog commented:
Bullsh*t statistics, it’s what’s for dinner!
(Since you can’t afford beef anymore…)
Bitter Clinger commented:
Everyone who actually BELIEVES this number, raise your hand.
Finncrisp commented:
Please correct this post – The labor dept page also clearly states how many workers out of work who are not being counted. Don’t be duped – unemployment remains at 14+%
Bill Mitchell commented:
Does anyone else find it fishy that the numbers came in almost 100k higher than the estimate?
Either someone is playing games with the numbers or the estimators need to all be fired.
FYI commented:
1.2 MILLION PEOPLE DROPPED OUT OF THE LABOR FORCE IN ONE MONTH!!!
Sickofobama commented:
I heard overall it’s somewhere around 20%.
I’m sticking with that number.
Bitter Clinger commented:
@fyi: Here is the answer. When everyone who is looking for work drops out of the labor market, the unemployment rate will be 0%. All hail THE MESSIAH!
2centsworth commented:
Until next month they are quietly “adjusted”. The CBO chief believes them to be closer to 10%.
Always read the corrections and clarifications in a newspaper, track adjustment data, and always consider the source… if it comes from a politicians mouth- verify by reviewing the original source document TWICE/ once when originally released, and twice when it has (and it will) be amended.
2centsworth commented:
And while all the numbers and blah, blah, blah are swirling in your head… check your GUT and ask if you were better off before Obama’s policies or not.
Unseasonal Adjustments..real numbers commented:
The seasonally unadjusted data from the govt report today says that 2,689,000 jobs were lost from Dec 2011 to Jan 2012 (see Table B-1. Employees on nonfarm payrolls by industry sector and selected industry detail).
Ron commented:
When i saw this most eggscellent news i was wondering how you trogs where gonna try spinning it. Hoft has once again outdone himself. 23 straight months of private sector job gains! Obamas reelection is pretty much sealed. Better stock up on diapers.
James commented:
Ha Ha!! They dropped the rate .3 percent because only 240,000 jobs added. They are in full reelect obama mode. They have no shame whatsoever.
2centsworth commented:
Oh Ron, really. Obama’s re-election is pretty much sealed? Some of us have a long list of things about this administration’s policies and practices that will factor into our voting preferences and it won’t just be the nebulus job numbers. My list of “issues” (culled daily from various sources) is every bit as long as the Health Care Affordable Act – which is saying something. I have categories of czar activities, policy issues, foreign affairs, contradictions by Obama, Biden, Carney, Gibbs et al, a special category for Eric Holder, EPA, NLRB, failed Fed investments , crony capitalism- all kinds of detail on the daily activities that aren’t covered in the press. When Obama stops pretending not to campaign and actually calls his activities what it is, my list will go out to a carefully crafted list of distributors with all the citations and documentation attached. I would put my data up against your dead voter and dog any day.
retire05 commented:
What needs to be looked at is the employment participation rate. That rate was 63.7%, down from 64.2% in January, 2011, or down a half percent. Less people are participating in the employment rolls than a year ago. Also, 2,420,000 people have been dropped from the civilian labor force in the last year although the civilian labor force has only grown by 1,145,000.
These are bogus stats designed for reduce the number of people in the labor force in order to decrease the unemployment rate.
Reducing the number in the labor force by dropping those who have run out of unemployment benefits, it gives a false unemployment percentage. Those people still want jobs, they have just been dropped due to the expiration of their UE benefits.
#1AMERICAN commented:
These lying sacks of $hit will have the unemployment down to nothing come November and dip$hits will continue to believe their mooslime messiah…very sick world we live in now
JPL17 commented:
The numbers are totally bogus, people! The Bureau of Labor Statistics is purposely lowering the labor force participation rate to make it APPEAR that the unemployment rate is going down. But what in fact is happening is that the percentage of the population no longer looking for work is SKYROCKETTING. From Zero Hedge:
“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.”
SOURCE: http://www.zerohedge.com/news/record-12-million-people-fall-out-labor-force-one-month-labor-force-participation-rate-tumbles-
Don’t be fooled by the Bureau of Labor Statistics’ lies. They’re just manipulating the data the way Obama wants them to.
Gary B. commented:
They can’t count me anymore. I took early retirement. Social security at age 62. Totally unexpected.
Ron commented:
Its a conspiracy! Get my tin foil!
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