September Unemployment: ACTUAL LOSS 995k

[roccman]

That's not good - there goes the "second derivative" argument.

Weekly earnings are also down by $1.54, which is bad news too.

But the Household Data is VASTLY worse than reported.  Here are the month-over-month changes, and they're in the realm of frightening.  (all numbers in thousands)

Civilian Labor Force: 154,879 to 153,617 this month.

Employed: 140,074 down to 139,079 this month.

That's a loss of 995,000 jobs, not 263,000, and the labor force contracted by 1,262,000 people!

The participation rate was absolutely decimated, down 0.6% this last month alone.  The people "not in the labor force" rose by a staggering 1,516,000 in the last month.

The government doesn't count people as "unemployed" who have given up and exited the labor force, but as I have repeatedly noted whether the government counts them or not the corner store owner sure as hell does!

The fact of the matter is that nearly 1 million fewer people were working in September as compared to August; there has been absolutely no improvement in that trend whatsoever.


http://market-ticker.org/archives/1485-September-Unemployment-ACTUAL-LOSS-995k.html

[freeyourmind]

Yes, its true that we're now into the phase where people dropping out of the labor force en masse will actually keep the "official" unemployment rate from going up as quickly as it has in the past.

[anarchist]

its amazing how they can cover up such a huge lie.

[jcs44]

its amazing how they can cover up such a huge lie.

Thank god for football season and HD television man. It might have started getting ugly out there otherwise!!! 

[Bill Hicks]

The fact of the matter is that nearly 1 million fewer people were working in September as compared to August; there has been absolutely no improvement in that trend whatsoever.

That fits with the story I posted a few days ago that showed that the number of food stamp recipients increased by 1,000,000 from August to September alone.   

[Ty Fjoyd]

The fact of the matter is that nearly 1 million fewer people were working in September as compared to August; there has been absolutely no improvement in that trend whatsoever.

That fits with the story I posted a few days ago that showed that the number of food stamp recipients increased by 1,000,000 from August to September alone.   

Good catch: 1,000,000/month more lost jobs; 1,000,000/month more food stamps

[yellowrocker]

Thank god for football season and HD television man. It might have started getting ugly out there otherwise!!! 

I sure hope there can be a govt cash for pre-flat-screen-tv's program before the really good games arrive in November.

[gin]

apparently the unemployment rate if the change(gains) in
part time job levels is excluded is around 17% not 9.8% 

[jcs44]

Thank god for football season and HD television man. It might have started getting ugly out there otherwise!!! 

I sure hope there can be a govt cash for pre-flat-screen-tv's program before the really good games arrive in November.

Damn straight- I need one for my bedroom too! 

[picasso moon]

I'm as untrusting of official stats as anyone, you know me , but something tells me there's gotta be more, just gotta be, how can they get away with a lie THIS big? Are there this many people out there who are determined to see things through rose-colored glasses? (not that LATOC has a shortage of them )

[Pultzar]

How is the 995k number calculated based on the numbers that he presented?

[picasso moon]

Based on this, i think,
Employed: 140,074 down to 139,079 this month.

[kenjamkov]

Those numbers are millions btw.

[kenjamkov]

Just think about the numbers for a minute... pop of the US 307,602,851 (according to the US population clock just now), employed 139,079,000... that is 45% categorized as in the working force.  So 45 out of every 100 people are working in the US. 

Hmmm 

[Leonytus]

Haaaaaaaaaaaave a holly jolly Christmas, and in case you did not hear, OH BY GOLLY its gonna be HOLLY JOLLY Christmas, THIS YEAR!