Tag Archives: Bureau of Labor Statistics

8+ million dropped out of U.S. labor force under Obama

Look around you.

4 of every 10 working-age adults you see on the streets don’t work.

That’s because more than 8 million Americans have dropped out of the U.S. labor force in just four years, during the POS’s first term as POTUS.

The result is that only 6.3 of every 10 adult working-age Americans now work, which means those who work have even a heavier tax burden.

Forward

Terence P. Jeffrey reports for CNSNews, Jan. 20, 2013, that the number of Americans age 16 or older who decided not to work or even to look for a job increased by 8,332,000 to a record 88,839,000 in Barack Obama’s first term, according to the Bureau of Labor Statistics.

To be in the labor force a person must either have a job or actively sought one in the previous four weeks.

When Obama was inaugurated in January 2009, there were 80,507,000 American civilians age 16 or older who did not have a job or seek one. In December 2012, there were 88,839,000—thus, the increase of 8,332,000.

The increase in drop-outs resulted in a decrease in the labor force participation rate from 65.7% in January 2009, the month Obama was first inaugurated, to 63.6% in December 2012, the latest month reported. Before Obama took office, the lowest the labor force participation rate (63.6%) was in 1981, the year President Ronald Reagan took over from Jimmy Carter — the worst president America’s ever had until Barack Obama.

In the comparable period of George W. Bush’s second term, the number of Americans choosing not to participate in the labor force went from 76,808,000 in January 2005 to 80,380,000 in December 2012—an increase of 3,572,000 in absolute numbers, but not as a percentage of the labor force. The rate of participation in the labor force was the same in January 2005 as it was in December 2008—65.8%.

More Hope and Change Despair and Ruin!

H/t California Political News & Views

~Eowyn

Surprise! U.S. unemployment back to 9%!

Last month, the establishment media had an orgasm over the official U.S. jobless rate having declined to 8.3%.

In my post of Feb. 11, I called it baloney and pointed out how deceptive that 8.3% number is, due to the Bureau of Labor Statistics’ (BLS) “seasonal adjustment” and the exclusion of the long-term unemployed from the official jobless number. (See also my post, “Attn sheeple: U.S. economy is NOT improving,” Feb. 16, 2012.)

The skepticism is on point. Wolf Richter writes on Feb. 18, 2012:

“Now we’re in February, and unemployment after a year of fairly consistent improvement, is suddenly showing a sharp deterioration.

On Friday, Gallup’s mid-month unemployment reading, which covers the preceding 30 days, jumped from 8.3% in mid-January, the low point since the financial crisis, to 9.0%. An astounding increase. And its Job Creation Index confirmed that trend, dropping from +16 in January to +13 in February.

Worse, 10% of the employees in mid-February were part timers in search of full-time jobs…. Underemployment—a combination of the unemployed and part-timers who are looking for a full-time job—jumped to 19% from the mid-January reading of 18.1%. While Gallup’s unemployment reading has improved steadily over the course of 2011, the underemployment reading has simply gotten worse.”

There is another indicator besides Gallup’s mid-month jobless figure. It’s the Federal Reserve Bank of Philadelphia’s (FRBP) employment index.

The FRBP index reflects hiring plans by employers. Alarmingly, the index collapsed from 11.6 last month (January) to 1.1 in February. This means businesses aren’t hiring.

Over the years, the FRBP employment index has shown a strong correlation with the BLS jobs report. An index of 1.1 in February means only 50,000 new jobs were created, a far cry from the 243,000 the BLS claimed had been created in January (that figure, too, is deceptive).

Gosh, I wonder why we don’t hear or read about this news?

~Eowyn

Steep rise in food and gas prices under Obama

We are told that the U.S. rate of inflation for the month of December 2011 was a low 2.96%, and that the average for the year of 2011 was 3.16%.

But if your wallet seems a little lighter after a trip to the grocery store or gas station, you’re not imagining things. It’s just that — Surprise! — our government does not include food and energy prices when calculating the rate of inflation.

The inflation rate is calculated based on the Consumer Price Index (CPI-U) compiled by the U.S. Bureau of Labor Statistics (BLS) and is based upon a 1982 Base of 100. A Consumer Price Index of 158 indicates 58% inflation since 1982, the commonly quoted inflation rate of 3% is actually the change in the Consumer Price Index from a year earlier.

To measure the cost of living for consumers and come up with the Consumer Price Index, the Bureau of Labor Statistics prices everything consumers spend money on — haircuts, plane tickets, medical care, clothes, etc.. Then all of the expenditures are categorized and weighted based on the amount that the average consumer spends on those categories. The percentage change from month to month is the rate of inflation, and it’s usually expressed as an annualized number.

But the BLS discards two categories — food and energy — when calculating the core inflation rate because, it is argued, the prices of food and energy are easily affected by the capricious nature of weather and political winds.

That, of course, makes the official inflation rate quite deceptive because the plain truth is that a big chunk of our pay checks actually goes toward food and gas. And, it turns out those prices have skyrocketed under Obama.

Christopher Goins reports for CNS News, January 20, 2012, that during the presidency of Barack Obama, the prices of the following have increased by double digits, according to BLS data:

  • The price for a gallon of regular unleaded gasoline in the city has jumped 83%, from $1.79 in January 2009 to $3.28 by December 2011.
  • The price of one pound of 100% ground beef has gone up 24%, from $2.36 in January 2009 to $2.92 by December 2011.
  • The price of one pound of sliced bacon has gone up 22%, from $3.73 in January 2009 was $3.73 to $4.55 in December 2011.
  • Ice cream prices, for a half-gallon, rose 19.1%, from $4.44 in January 2009 to $5.25 in December 2011.
  • Whole wheat bread prices increased 5.02% from $1.97 in January 2009 to $2.07 in December 2011.
  • The average retail price of a dozen Grade A eggs increased 1.30%, from $1.85 in January 2009 to $1.87 in December 2011.
  • Only the price of whole milk prices slightly declined by 0.28%, from $3.58 in January 2009 to $3.57 in December 2011.

Two groups of Americans are especially affected — the poor and the elderly.

Poor and low-income Americans are most affected by increases in food and gas prices. At the same time, older retired Americans who depend on income generated by interest on their savings have seen their income dwindle to near nothing because of the low interest rates offered by banks and the U.S. Treasury. Those rates, calibrated to what the government claims is the official inflation rate, are at a historic low, barely above 1-2%.

How are we liking the Hope and Change?

~Eowyn

Brace Yourselves!

 

FROM JEROME CORSI’S RED ALERT

REAL unemployment rate: 22.4%

Exposed! How government lies with job statistics

010912jobs

Editor’s Note: The following report is excerpted from Jerome Corsi’s Red Alert, the premium online newsletter published by the current No. 1 best-selling author, WND staff writer and senior managing director of the Financial Services Group at Gilford Securities.

The real unemployment rate for December 2011 is closer to 22.4 percent, not the 8.5 percent reported by the Bureau of Labor Statistics, Jerome Corsi’s Red Alert reports.

John Williams, author of the “Shadow Government Statistics” website, argues that the federal government manipulates the reporting of economic data for political purposes.

In the Jan. 6 Bureau of Labor Statistics news release, the unemployment rate was reported to have fallen 0.2 percent to 8.7 percent, as revised for November 2011.

Williams recreates a Shadow Government Statistics alternative unemployment rate reflecting methodology that includes “long-term discouraged workers” that the Bureau of Labor Statistics (in 1994 under the Clinton administration) redefined those considered “unemployed.”

The BLS no longer considers as “unemployed” those workers without jobs who have not looked for work in the past year because they feel no jobs are available.

Williams has demonstrated that it takes an expert to truly decipher BLS unemployment statistics. For instance, in Table A-15, titled “Alternative measures of labor underutilization,” the BLS reports what is known as “U6 unemployment.” U6 unemployment includes those marginally attached to the labor force and the “under-employed,” those who have accepted part-time jobs when they are really looking for full-time employment.

While the BLS was reporting seasonally adjusted unemployment in December 2011 at only 8.5 percent, it was also reporting U6 seasonally adjusted unemployment in December 2011 was 15.2 percent.

The only measure BLS reports to the public as the official monthly unemployment rate is the seasonally adjusted U3 number.

Williams calculates his “Official SGS Alternative Unemployment Rate” by adding back into to the BLS U6 numbers those long-term discouraged workers who have not looked for work in the past year.

Interestingly, Williams’ “Official SGS Alternative Unemployment Rate” shows unemployment in December 2011 was 22.4 percent, the same as in December 2010, whereas the BLS figures were designed to report nearly a one-point decline, from a seasonally adjusted U3 rate of 9.4 percent in December 2010 to a 8.5 percent rate in December 2011.

~Tom in NC

This Is What a Double-Dip Recession Looks Like

Or is it the Second Great Depression?

Any doubters out there, still?

H/t UrbanSurvival.

See also:

New home sales on pace for worst year in history...

NATIONAL DEBT RISES BY $3 MILLION EACH MINUTE...

Obama sets record: $4,247,000,000,000 debt in just 945 days...

YORK: Spending, not entitlements, created huge deficit...

$500,000 federal stimulus grant created 1.72 jobs...

~Eowyn

Unemployment Stuck at 9.1%

Man worships Obama as the false idol leaves restaurant in Chicago, Oct. 31, 2010.

This morning, the Bureau of Labor Statistics jobs data came out.

There is no movement in the U.S. jobless rate. America is stuck at an official unemployment rate of 9.1%.

Among the major worker groups, the unemployment rates for adult men (9%), adult women (7.9%), teenagers (25%), whites (8.1%), Asians (7.7%), blacks (15.9%), and Hispanics (11.3%) showed little or no change in July.

The number of long-term unemployed (those jobless for 27 weeks and over), at 6.2 million, changed little over the month and accounted for 44.4% of the unemployed.

The absolute number of people working was down a further 38,000 for the month of July, making the civilian labor force participation rate a 63.9%. The employment-population ratio was little changed at 58.1%.

Obama 2012 campaign slogan:

Re-elect Barry! No Change and No Hope!

~Eowyn

Workers Toil for Union Greed!

One Year’s Worth Of Union Dues Could Support 265,447 U.S. Workers For A Year

by LaborUnionReport

Union bosses have been engaging in class warfare for so long now that it’s become standard for the media to echo the meme without challenge. An example of such mainstream Marxism is in today’s Bloomberg piece entitled ‘Runaway CEO Pay’ Could Support 102,000 U.S. Jobs, AFL-CIO Says. Bloomberg’s piece relies heavily on the AFL-CIO’s Executive Pay Watch, which was set up years ago to conduct a haves vs. have nots class warfare campaign to eventually have CEO pay limited by law or regulation. This was something union bosses accomplished to some degree with last year’s “Wall Street Reform.”

However disdainfully un-American it is to argue whether someone makes too much money in what was once the nation known as the land of opportunity, sometimes you have to roll with the pigs in the pigsty to show how stupid their arguments are. So here goes:

Here is the AFL-CIO’s statement:

In 2010, Standard & Poor’s 500 Index company CEOs received, on average, $11.4 million in total compensation. Based on 299 companies’ most recent pay data for 2010, their combined total CEO pay of $3.4 billion could support 102,325 median workers’ jobs.

Using a simple calculator, it is easy to determine that the “workers’ jobs” would pay $33,227 per year (about $16 per hour), not counting union dues, of course.

Given the AFL-CIO’s penchant for pushing an eat the rich ideology, it seemed worthwhile to use the unions’ own logic to run our own set of numbers to determine how many workers’ median jobs one years’ worth of union dues could support.

According to the Bureau of Labor Statistics, in 2010, there were 14.7 million union Americans belonging to unions. While that only represents 11.9 percent of all wage and salary earners, there is a substantial amount of dues money flowing to unions.

If we were to use a conservative figure of $50 per month for union dues, in 2010, unions collected $735,000,000 per month in union dues from America’s unionized workers. Multiply $735,000,000 by 12 months and you get a whopping $8,820,000,000 that was collected in union dues in 2010.

Divide $8,820,000,000 by $33,227 and you’ll find that if unions did not take union dues from workers in 2010, 265,447 workers’ jobs could have been supported.

Since union dues only go to support the salaries and benefits of union bosses, their staffs, and their golf courses, airplanes, and other costs, perhaps the argument really needs to be reversed. Rather than creating or saving jobs, given that unions do not produce a product and can actually be attributed with being masters of manipulation, buying politicians, killing companies, pushing policies that stifle growth, as well as creating huge pension and health care deficits, perhaps it’s really time to rein in union dues.

_________________

“I bring reason to your ears, and, in language as plain as ABC, hold up truth to your eyes.” Thomas Paine, December 23, 1776

Posted by Tom in NC