Drop in jobless rate is because fewer Americans than ever work

Message to the State Controlled Media and American sheeple mind-numbed with American Idol, DWTS, and porn:

The Economy Is Not Improving.

The Economy Is Getting Worse.

The reason why the unemployment rate has dropped to 8.1% in the latest report released last Friday is this:
The government’s jobless rate is not actually a measure of unemployment. Instead, the so-called jobless rate is merely the number of Americans who apply for unemployment benefits. This means that the official unemployment rate does NOT include millions of Americans who are unemployed but who do not qualify for unemployment benefits because they:

  • Were self-employed; or
  • Have exhausted their unemployment benefits; or
  • Have given up looking for work and have dropped out of the labor force entirely.

This is the reason why the official rate of unemployment has “dropped” to 8.1%:

More Americans have dropped out of the labor force and thus no longer qualify for unemployment benefits.

Tyler Durden reports for ZeroHedge, May 4, 2012, that in April the number of people not in the labor force rose by a whopping 522,000 from 87,897,000 to 88,419,000.
This is the highest on record.
The reason why the unemployment dropped to 8.1% is that the labor force participation rate just dipped to a new 30 year low of 64.3%.
These two graphs are the evidence (click graph to enlarge):



If the embedded link to ZeroHedge doesn’t work, here’s the link to the cached copy of the article:
https://www.zerohedge.com/news/people-not-labor-force-soar-522000-labor-force-participation-rate-lowest-1981
~Eowyn

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JosephBC69
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JosephBC69

All I know about this is: 1. I turned 69 on Feb. 17th; 2. I started my own business in the Summer 1963, age 19 years; 3. I live in one of the wealthiest [per capita] cities in Canada, and my business [residential contracting, improvements & upgrades, painting, landscaping, etc.] has been in severe decline for three years, maybe slightly more. I’ve survived four recessions: this is NOT a recession. After my divorce and loss of a paid-for house, etc. in April 2010, the economy continued its downward grind. For the past two years I lived on my savings and… Read more »

JosephBC69
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JosephBC69

Many thanks for yr thoughts, they’re appreciated. Yes, I have a few dozen silver Maple Leafs, enough for the first year of full-blown deflation. Soc Sec is not so badly off as alarmists will have us believe, to get their greedy paws on the last of our savings for Goldman Sachs et al., the creators of the Problem: Ponzi finance and worthless casino derivatives. Google or cluuz ‘Terrell Arnold’ for good info re Soc Sec. Keep on gardening: you learn by doing. On yr own in yr backyard using compost you should be able to raise enough to fill yr… Read more »

JosephBC69
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JosephBC69

Dear, dear Eo! Many thanks for once again digging down and revealing the TRUTH concealed by the feral gubbmint’s Daily Lies. As Dr Weaver so succinctly wrote in 1948: “Appearances do not exhaust reality.” You’re one of the best at removing the veils of deceit and duplicity: we are all indebted to you, as it makes our lives easier, knowing the enemy. Thank you again!

DCG
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Hope and change baby!
And the SRM keep on spinning…

joandarc
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joandarc

Thank you Dr. Eowyn for again exposing the statistical lies! Your reasons are spot on, as I am familiar with them, having worked for a state governmental agency that dealt with unemployment benefits and related taxation and rehabilitation issues! They just don’t stop lying, do they!

josephbc69
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I HEAR you, GF, and once again, you got it perfectly expressed. I’m sure many of our readers feel the same.

Alice Wolf
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You could look at it another way, okay? How about, Americans work just fine, it’s the Monetary System that doesn’t work. The only way to get We the People back to work, and start a real “human” economic recovery, is to reinstate Glass Steagall and stop the banksters from looting what was left in the monetary system. Since it is almost drained of any liquidity, there’s no way anything could be financed with what’s left, when FDR enacted GS there was still some money left with which to rebuild the US economy, but this time around, so much damage has… Read more »