Whether broadcast or online, all around the mainstream media today, there’s a bacchanalia in progress over today’s jobs numbers.
146,000 new jobs!
7.7% unemployment!
Recovery!
Success!
America was right to reelect Obama!
Whoo-hoo, v-i-n-d-i-c-a-t-i-o-n!
And yet, all it would take is a media with a shred of intellectual honesty and curiosity to report the truth about today’s numbers. A deep dive combined with a little historical context is something you would expect our media to participate in. But because that kind of reporting would betray Obama’s economic record as a failed one, it’s never-ever done, and never will be.
Thankfully, though, we have New Media, and all around the inter-web-nets today, the truth about this month’s report card on Obama’s job creation record is being reported.
But first, a little background…
For my list to make contextual sense, it’s important to understand exactly what the Labor Force Participation Rate (LFP) is. Essentially, this number measures the percentage of the civilian working-age population who are currently employed and those who are unemployed and actively seeking work. These are the people who are considered participants in our labor force.
Not included in the LFP are those of working age who retire, are in school or prison, have voluntarily stayed home to raise kids, or who have been discouraged and have given up the search for work after a long period of unemployment. The discouraged want and are willing to work but have lost hope, given up their job search, and subsequently dropped out of the labor force.
Quite remarkably, discouraged workers are not included among the unemployed. In other words, if everyone currently counted as unemployed suddenly became discouraged, the unemployment rate would drop to zero. Wouldn’t Obama and the media just love that.
Some leaving the LFP do so for legitimate reasons: a planned retirement, enlistment in the military, school, a new baby. But too many are no longer counted among the LFP because our current job situation is so dismal, they’ve simply given up. Some, like my wife, have been forced to retire early — which means lesser benefits.
We know discouragement is a large part of the problem because pre-recession CBO predictions about what the LFP would look like today were much higher than what it is today. We also know this because some discouraged workers are included in what’s known as the U-6 unemployment number; which takes into account the long-term unemployed who want full time work but have either given up looking or who have had to settle for part-time work. Today the U-6 unemployment rate is a whopping 14.4%.
Today’s LFP rate of 63.6% is a thirty-year low.
With all of this in mind… Here’s a round-up of the top ten reasons today’s jobs report is awful news, not good news.
1. In October, the LFP was 63.8%. This month it dropped to 63.6%. This means a whopping 542,000 people dropped out of the workforce in just one month and explains almost entirely why the unemployment rate edged down to 7.7%.
2. According to AEI’s Jim Pethokoukis, if the LFP was the same in November as it was in October (meaning those 542,000 had not dropped out), the unemployment rate today would be back over 8%. If the LFP was the same last month as it was exactly one year ago, today’s unemployment rate would be 8.3%. If the LFP was the same last month as it was when Obama took office, the unemployment rate today would be 10.7%.
3. Last year the American economy averaged 153,000 jobs per month. This year we’re averaging 151,000. We’re going the wrong way. By comparison, during the best job creation year of the 1990s, the American economy averaged 321,000 jobs per month.
4. Anywhere from 125,000 to 135,000 new jobs are required simply to keep up with the number of people who enter the labor force due to population growth. Because of this…
5. At the present level of job growth, it will take another 13 years just to reach pre-recession employment levels.
6. 73% of the jobs created over the last five months have been government jobs.
7. Most of November’s job gains (53,000) came from the service/retail sector. Construction lost 20,000 jobs, wiping out (and then some) a 15,000 gain in October. Manufacturing lost 7,000. 14,600 jobs came from the film business — a onetime and temporary anomaly.
8. According to Gallup, November saw the biggest decline since 2010 in the percentage of those aged 18 and older and employed full time. A drop from 45.7% to 43.7%.
9. The Establishment Survey (of businesses) show the economy created 146,000 jobs in November. The Population Survey (of people) shows we lost 122,000. This discrepancy could come from the fact that it’s not just businesses that create jobs. Many people are self-employed. Businesses might have created 146,000 jobs last month, but out among the people, 122,000 jobs were lost.
10. With a much smaller population to work with, the average monthly number of new jobs created by the Reagan Recovery as compared to what we saw today and all throughout the so-called Obama Recovery, tells the entire story.
—
What’s happening to our economy is no laughing matter. But what’s happening to our culture at the hands of the media is even worse. The media’s desperate desire to protect Obama is creating a New and Accepted Normal. Worse still, meager job growth, a sinking LFP (which means fewer taxpayers), and an explosion is government jobs is the new standard of success.
We’ve been through Great Recessions before. Our “recovery” didn’t have to be like this, and anyone old enough to remember the economy Ronald Reagan inherited and the one he left us with, will tell you that.
To protect a failed president, we’re being lied to and swindled by a media that’s certainly old enough to know better.
Note: Jim Pethokoukis’ indispensible reporting made this article possible. His work is not only linked here, but it’s where I found most of the links, as well. You can bookmark his site here.
Follow John Nolte on Twitter @NolteNC
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Anyone who supported Obama in the November Election does not deserve a Job.
I do not feel sorry for any of them.
Those same people that voted for King Barry don’t want to work anyway. Free stuff will fall from the heavens……….
Really? Is that what your view of the world really is or have you been brainwashed by your media of choice? The President won. Free stuff didn’t.
It sounds so much like sour grapes that it’s laughable. The country still has great issues but this King Barry stuff just means your not to be taken seriously. Any jobs are good jobs because it gets people back to a more normal life, their families benefit and the country is stronger for it. For people who say they are patriots, they sure do turn small when their chosen media wants them to.
Wasn’t the conservative media who “brainwashed” me. It was 35 years as a labor economist with the US government. We’re in a world of hurt, and those new jobs numbers show it.
During the early 1980’s, there was a big political kerfuffle when some economists began to assert that the US was being “deindustrialized”–that skilled, high-paying manufacturing jobs were being lost to overseas producers with lower labor costs. Turned out that trend was real, and has continued to this day. No, high-skilled jobs are not interchangeable with just any other jobs. But let’s just go ahead and throw more impediments in front of domestic industrial producers anyway, shall we? In the form of ACA, business and personal taxes, and regulation, they might put the final nail in our economic coffin. (extreme sarc.)
If that’s true about any jobs are good jobs, why were Bush and Reagan poo-pooed by the left/media that the entry level jobs or lower-paying jobs did not count? Check out the Reagan era job creation and the tax revenue that flowed into the Treasury. It was then that the dems were really getting warmed up with the runaway spending!
That treasonous SOB is not my President. Do not ever accuse me or anyone else here of turning small given what ignorant cowardly swine like you did and continue do to Reagan and Bush. If you don’t like the shoe being on the other foot than you and the rest of the traitorous commie maggots should have learned to STFU. Learn to take your deserved verbal beating boy.
if it weren’t for the free gifts, the bribes and the fraud, why would these people vote for obama? his record? if they voted for him on that then they have a mental disease.
Ya except for the richest cities, states and counties in America. They mostly voted for Obama.
So you’re finally admitting Democrats are the party of the rich? Congrats to you, I can’t afford to be a liberal.
You got that right.
NOR ARE THEY QUALIFIED FOR ONE, IN ANY CATEGORY. THEY MIGHT HAVE GREAT TATOOS THOUGH, AND COOL NOSE RINGS, EAR RINGS, AND WANT FREE ABORTIONS.
They want free Benghazi as well. What? Thats not a new birth control medicine?
And yet, I can guarantee I have a better job than you clowns.
What guarantee can you afford if you do not happen to have a better job?
And you’ll back that claim up just like your lord and savior O’Barry takes responsibility.
idiots I have a better job than the majority of Americans, so yeah, most likely I have a better job than you. I don’t need to prove it to you, and it’s not like you’d accept any proof anyways, your ilk just dismisses anything that contradicts your calcified little minds.
yes. Everyone who voted for Obama is a hipster. Wow I can’t believe there are so many young hipster out there. What happened to all the baby boomers?? Did they forget to vote this election?
Doom and gloom.
You voted for it traitor. When your starving in the gutter I’ll happily remind you of your stupidity with a kick in the gut.
I doubt it. You don’t have the balls to do that.
DHS Bought 750000000 Rounds of Hollow Point Ammo for Non-Target Practice Purposes before the Election! Don’t you see, the elections’ and their outcomes were predetermined. Your Vote NEVER Counted. You wasted your time, because it’s the ones who counted the votes that count. The Ammo is for YOU in the event that YOU stop b!tching and moaning on these message boards, and take action!.!.!
(Edited by author 1 day ago)
A little while ago I read FEMA is buying a lot of MREs. Why?
They’re preparing for hurricane sandy.
Dept of Education is buy ammo too.
The problem is we’re all paying for their ‘staycation’…
what an honest, hardworking pro American you must be with sentiments like this. Yes America would be much better off with 50% unemployment. You truly despise anyone who doesn’t have the same viewpoint as you.
It would be much better if a bunch of them HAD to go to work.
#11 — Most jobs created were in the hospitality, restaurant, waste management, and are low wage jobs. #12 — September and October jobs were also revised SHARPLY lower. This is particularly significant because employment is what is known as a LAGGING indicator. It lags behind the economic trend. However, there is embedded within it one LEADING indicator, which points toward the future of the economy. That LEADING indicator is revisions of previous months’ jobs reports. When previous months’ reports are revised downward (worse), it is one of the indicators that the economy is worsening! Dr. John Hussman has written about this phenomenon in his weekly economic commentary. In other econ new yesterday: *** Consumer sentiment suffered the WORST decline in recorded history last month. *** Gallup survey of small businesses released yesterday showed the worst hiring intentions since 2008. *** It was also reported yesterday that Europe’s economic powerhouse, Germany, has now slipped into recession. Their capacity to bail out the remainder of the continent grows weaker by the day.
It only gets worse from here. Calamity is certainty! Plan and prepare accordingly!
I would love to take this picture of Reagan, have it enlarged, then hanged up through out the entire WH, the senate/congress floor and their offices. To the point that where ever they look, they will always see the picture of Ronald Reagan.
Put it in BHO’s bathroom. It’ll scare the $h1t out of him.
He is a scary looking bastard.
Ditto, I can’t look at him right after a meal.
A picture of Reagan and a pile of spin. Funny thing is, if Reagan were alive today he wouldn’t even be able to win a nomination in this version of the Republican party. He raised taxes twice after lowering them.
He’s a liberal.
You are a clueless drone. You have no idea how Reagan’s policies fundamentally changed our economy. He actually had to work with a hostile HOR in addition to a hostile press. He only agreed to tax increases for the promise of spending cuts. Guess what, the Dems liied about the cuts and the media covered their asses as usual. Ahhhhh, it’s so easy being on the left. Why investigate anything when someone can feed you BS talking points and tell you how smart you are.
And you’re a lying coward. Go back to your circle jerk traitor.
wait til your kings taxes kick in in 2013. you’ll be living in your parents basement forever.
At this rate Slick-Smiley will achieve the vaulted honor of being
“The Soup Kitchen President”
I would weep … but he’d probably try to tax my tears.
(Edited by author 1 day ago)
That is covered on page 1687 of obamacare.
Hey, if all of the unemployed citizens in the country cease looking for work and go on the federal dole, we can lower the unemployment rate to zero percent!
Woo-hoo! Socialism works!
Ronald Reagan’s Farewell Address. ..they ‘were’ good times! http://www.youtube.com/watch?v… —————————————————————–
Ronald Reagan is the gold standard on leadership both foreign and domestic. Policies of the past “that worked” during that “other” Great Recession of 1981-1982.
70.0% TAX RATE …down to 28% 21.5% MORTGAGES …down to 10% 13.5% INFLATION …down to 4.1% 10.8% UNEMPLOYMENT …down to 5.3% 06.0% DEFICITS/GDP …dropped to 3.2% 04.0% SPENDING/GDP …dropped to 2.5%
19 MILLION NEW JOBS CREATED!
Won Cold War with Russia and forced Collapse of the Berlin Wall
now thats a record. obama…not so much. and hey, hows that budget coming along??
What is truth?
Truth is not a word in Obozo’s vocabulary.
Bingo
Not here. Come on. This place predicted a landslide for Romney and you going to believe them on economics?
Please show the link for that prediction. By the way, the article is on the awesome, new jobs report from the obameconomy. Please splain the great news we’re missing from that report here at Breitbart.
Do your own research.
‘Do your own research’
I did, *sshat. You’re the liar we all know you are.
You’re still a traitorous scumbag and a lying coward. When you get your civil war make sure you whine the loudest.
(Edited by author 19 hours ago)
Wrong again. Fear and more fear.
Wise men everywhere seek the truth. Odumbo is not a wise man. In some respects, he probably isn’t even a man.
65% of the workforce isn’t in the workforce. That fact belies any jobless report and any notion of a nation with a tax base. All we are waiting for now is the tipping point between those IN the wagon, and those still PULLING the wagon. when the wagon stops the Democrats will have gotten everything they are working for.
I was convinced before, but I’m even more so now, given the incessant and excessive cheerleading by the LSM over this B(L)S jobs report. There was no way Romney could’ve won with that level of “onesidedness”.
The firing squads are forming.
Thank you for the explanation. Our government and MSM are far too willing to write off millions of people who no longer “count” in the unemployment data. Shame on them! And you didn’t even touch the underemployment problem.
It’s past time to take away the AP’s tax exemption.
I’m surprised this was not released before the election. Who cares if the numbers were phony then, they’re phony now.
It’s not just the media. Just yesterday i called out a twit on a radio show hyping the ‘housing recovery’. Liberals dominate the finance, real estate & mortgage sectors. Proof: Only frigging liberal morons could possibly rationalize a recovery of real estate values that were increasing an an artificially unsustainable rate. Nothing’s changed. It WILL get worse before it gets better.
(Edited by author 1 day ago)
I would bet the cause for the “recovery” would be conversion to rental property.
One would like to feel sorry for the ignorant and uninformed democrats who keep insisting Obama is the answer. Such liberal ignorance doesn’t deserve any sympathy.
This is the worst sin of Obama, i.e. lowering expectations to the point where people actually think these numbers are good almost four years into a recovery. Read fresh political commentary at: http://smallcraftadvisorychron…
His gang has deliberately manipulated the soft minds of those hapless blacks in the country who are wont to support him with complete abondon as a stunning vindication of past racism.
An ignorance of history blocks such people from acknowledging those who actually achieved this already. People who, like King, look not toward revenge but fair integration.
As a result of Obama’s success in this endeavor: He and his hangers-on are rich, the dumb-dumbs are desperately and disparately poor.
The last sentence is one of the biggest truths ever spoken and because of this we are in for an implosion like we have never seen. We will never see it coming. “To protect a failed President, we are being lied to and swindled by a media”…. What a powerful statement.
And, how paranoid!
That is exactly the information which needs to be published everywhere in America so we know the fraud taking place with unemployment and our economy.
Publishing is not enough. Thanks to the commies in education we have a generation of Americans who have no clue what any of this means.
The Problem is that even if this were published, most of the idiots who voted for Obama are too dim to read something like this and would much prefer to read about Demi Moore making an ass out of herself. Next, the few smart people who read this and support Obama do not give a crap because they want to remold this country into a country that will control every single aspect of your life and they realize the more discouraged and hopeless people out there, the easier it will be to bribe them with free government “SCooby Snack
That argument about wanting to control every aspect of people’s lives is so amusing after the Akin/Lying Paul Ryan magic lady parts dialogue, the Mourdock/Lying Paul Ryan sacramental rape dialogue, the (Republican) forced vaginal penetration laws, the (Republican) forced sonogram laws. You live in a parallel universe my friend. Hope it’s a nice place.
Thanks for proving your that type of cowardly treasonous idiot.
Sorry, John, the numbers are dismal for only one reason: the Obama economic collapse you and yours so gleefully seek, so fervently pray for is at least delayed for another month. And with each passing month it doesn’t happen, the chances of it ever happening become remote. I don’t know which is sadder: America’s right wanting America to fail, or the folly in perpetually betting against America.
Day late and a dollar short numb nuts. Math does not lie only cowardly swine like you. When your master actually creates a private sector job let the rest of us know traitor. Until that time lying sac licking cowards like you deserve the failure you voted for. The only thing sad here is that cowards like you don’t get the physical beatings you deserve. The next time one of you idiot obamao thugs threatens me you’ll get a demonstration of what happens to treasonous SOB’s like you.
Let me add fmaggot, that unlike you I’m a veteran. Rather than just go pull a lever because some retard handed out free crap to buy my vote I put it all on the line betting for America in spite of the actions of traitors like you. I don’t care one bit about your incessant whining about how you can say whatever the F— you want. If you ever imply that I want America to fail or that I’ve bet against America I will make a point of finding you and teaching you that you are the treasonous coward I say you are. Go cry to somebody who cares now.
america used to have the strongest currency in the world along with a AAA rating. we lost that under obama. please try to spin this if you can.
Keep the sheep in line John!
Say that when you don’t have balls in your mouth scumbag.
Secular religionists, like theological religionists, believe everything their Messiah says and does is truth. To admit impediments causes the entire house of cards to fall. The same area in the brain controls the intransigence of both.
i can attest to that. in a nearby metropolis, 11 drug dealers were arrested recently. all were collecting monthly ss disability benefits along with ebt cards (nice country america). i was recently laid off and was denied unemployment compensation because “i didn’t make enough money”. now first off, wouldn’t you think i WOULD be eligible because of i didn’t make enough? i guess people who make more need the help more than i do but…back to the point…i gave up on getting help, dropped out of the system. so i am unemployed, but not among the counted. there are millions of us out there i bet.
just once i would like to see one representative with a spine, come out and tell the american people the TRUTH. we cannot move forward as a nation if when we don’t know the reality of the situation. we know the govt has stolen from us, we just don’t know how big the hole is we have to dig ourselves out of. if we knew, we could plan accordingly for our future. JUST TELL US DAMMIT!
The Labor Dept has no way of knowing unemployed workers that have GIVEN UP LOOKING FOR WORK!!!
All they need to do is count the working age unemployed workers since 2008 … plain and simple. Never mind the reasons … many ppl may be discouraged, but again THEY HAVE NOT GIVEN UP! It is so infuriating to hear and read this being reported over and over again.
How many jobs have been shipped offshore?
Here are the WARN (Worker Adj Retraining Notification) report numbers, in Obama’s state, for November:
PCCW Teleservices (US), Inc. – Permanent Closing – 139 layoffs from November to January 2013. Buca di Beppo Italian Restaurant in Chicago – Permanent Closing – 70 layoffs from November to January 2013. Carson Pirie Scott (Retail store) – Permanent Closing – 76 workers affected; layoffs from November to January 2013. Doblin, Inc. (Admin. Mgmt. and Gen. Mgmt. Consulting Services) – 62 workers affected.
Fresh Express Food service contractors (A division of Chiquita Brands International) – Permanent Closing – 656 workers affected.
R.S. Owens – Permanent Closing – 95 workers affected.
Kmart Discount Dept. store – Permanent Closing -70 workers affected
Willow Lake Mine (bituminous coal underground mining) – Permanent Closing – 408 workers affected. Jacobson Staffing Company (General Warehousing and Storage) – Two office closings – 229 workers affected.
Bay Valley Foods (Fruit and Vegetable Canning) – Permanent Closing – 113 workers affected. US Cellular Corporation (Wireless Telecommunications Carriers – except Satellite) – Permanent layoffs 492 workers affected. World Kitchen, LLCPottery, Ceramics, and Plumbing Fixture Manufacturing – permanent closing – 180 affected.
FYI – Companies do send revisions to the state commerce offices, regarding stat changes from layoffs to closings.
March we do not need to go to DC March in your home City a place where you have MSM who are touting OBama’s Success. Certainly if you are near enough too DC march there Lets get whomever is Unemployed, Underemployed, Stopped Looking, forced into Retirement lets organize a day and March in the North East we can converge on MSNBC while Tingles Mathews show is on the air make enough noise he will have too respond. Marching seems to be the way to protest lets Protest.