When companies self-censor to wait until the days after the election to announce major layoffs.
Via commenter conservativegram in the Tip Line:
As Drudge would say-”Own it!”
“Nextel to cut 20% of jobs at Virginia headquarters”
In Past 48 hrs, following companies announded layoffs:
Caterpillar, CVPH Medical Center, Lightyear Haqwker Beechcraft, Westinghouse, Research in Motion, US Cellular,...
Total nonfarm payroll employment increased by 171,000 in October, and the unemployment rate was essentially unchanged at 7.9 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in professional and business services, health care, and retail trade.
Both the unemployment rate (7.9 percent) and the number...
Another one of those anomolies which makes the unemployment rate look better than it is. The rate as calculated drops when people drop out of the work force because they no longer are counted as unemployed.
So while the media and Obama campaign probably will try to spin the drop as a...
The U.S. unemployment rate was rose to 8.3% in July and a broader measure ticked up to 15%, even as the economy added 163,000 jobs. Why the increase?
The key reason is because the two numbers come from separate reports. The number of jobs added — the 163,000...
Obama endlessly cites the loss of 750,000 “per month” just before he took office, as if that bottom was destined to be continued forever but for Obama.
It’s the extrapolation fallacy.
This video pretty much sums up the theme:
Yet why shouldn’t Obama own at least some of those job losses between his election...
Just released June numbers:
Nonfarm payroll employment continued to edge up in June (+80,000), and the unemployment rate was unchanged at 8.2 percent, the U.S. Bureau of Labor Statistics reported today. Professional and business services added jobs,
and employment in other major industries changed little over the month.Household Survey Data
The number of unemployed persons (12.7...
The rate rose to 8.2%, but the real story via IBD, Core 25-54 Employment Rates Still Near Historic Lows:
The unemployment rate rose slightly to 8.2% in May, holding above 8% for the 40th straight month, the Labor Department reported Friday. But actual employment rates of core working age Americans suggests the...
We are at the mercy of misleading statistics which nonetheless form the media narrative.
I posted earlier today about workers leaving the workforce in droves, which drives down the nominal unemployment rate and renders it a misleading statistic. Yet the details are the details, and the headlines are the headlines.
Here are...
More news about the drop in the labor participation rate, via Zero Hedge (emphasis in original):
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%....
There is a new jobs report out, with the usual caveats that the work force is shrinking, but the nominal unemployment rate is down to 8.5%. That’s the number which counts politically.
The rate would be 10.9% if the same number of people were in the workforce as when Obama took office
The...
The more Obama pushes class warfare, the more people reject class warfare. That’s certainly not what I expected.
It’s the counter-indicator effect. If he’s for it, the opposite will happen. Perhaps he should announce an Unemployment Plan instead of a Jobs Plan.
It’s another one of those Obama paradoxes, like the Catch-2012.
From Gallup:
Americans...
There was an unemployment report released this morning which showed the unemployment rate dropping to 8.6%.
That’s a big plus for Obama, even though the drop almost entirely is the result of people leaving the workforce, as Jame Pethokoukis notes:
The mainstream media pays no attention to the underlying numbers. 8.6% is 8.6%. ...
Felix Salmon (h/t HotAir)
… I don’t see much hope that the unemployment rate will come down to a remotely acceptable level any time soon. Realistically, America’s unemployed are here to stay. And we’re only just beginning to understand how that’s going to affect the political economy of the nation.
A near permanent dependent...
There is a good reason Obama did not unveil his jobs bill prior to his jobs speech.
It’s because the jobs bill is not a jobs bill, it is the tax increase Obama has been hoping for since he was a candidate, taking $400 billion from people making $200,000 or more (couples making...
From Senator Jim DeMint, some obvious points about Obama’s complete lack of understanding of the job market (emphasis mine):
“I spent most of m life in business,’ DeMint told Glor, “and I’m hearing what the president is talking about, which are temporary incentives like giving a company 5,000 (dollars) to hire someone. It...
I have posted before about how the shrinking workforce tends to mask just how bad unemployment really is because people who have given up hope and stopped looking are not counted in the most widely cited calculation.
So the news yesterday that the unemployment rate held steady at 9.1% with zero net...
That’s how many net new jobs were created last month in newly released unemployment numbers:
The Labor Department says total payrolls were unchanged in August, weakest report in almost a year. It’s the first time since February 1945 th...
