Unemployment rate is heading down.

[US27inKS]

Here's the great news.

Total nonfarm payroll employment rose by 243,000 in January, and the unemployment rate
decreased to 8.3 percent, the U.S. Bureau of Labor Statistics reported today.

http://www.bls.gov/news.release/pdf/empsit.pdf

Now for the bad news.

According to the Bureau of Labor Statistics we saw 883,000 more jobs in January, but we lost 1,177,000 people from the workforce. That's a net loss of 330,000 jobs.

Year over year it's not quite so bad. From Jan '11 to Jan '12 we only lost a net of 75,000 jobs.

I guess that's one way for Obama to "create jobs". Just have fewer people looking for jobs, and the unemployment rate magically heads down. Just makes you feel all warm and fuzzy doesn't it?

[tomperanteau]

We're screwed.

[US27inKS]

I fixed my numbers. I co-mingled seasonally adjusted tables and unadjusted tables. The numbers in the OP are seasonally adjusted. The unadjusted numbers are much worse.

[jrd22]

Abbott and Costello on unemployment



==================================



COSTELLO: I want to talk about the unemployment rate in America ..



ABBOTT: Good subject. Terrible times. It's about 9%.



COSTELLO: That many people are out of work?



ABBOTT: No, that's 16%.



COSTELLO: You just said 9%.



ABBOTT: 9% Unemployed.



COSTELLO: Right 9% out of work.



ABBOTT: No, that's 16%.



COSTELLO: Okay, so it's 16% unemployed.



ABBOTT: No, that's 9%...



COSTELLO: WAIT A MINUTE. Is it 9% or 16%?



ABBOTT: 9% are unemployed. 16% are out of work.



COSTELLO: If you are out of work you are unemployed.



ABBOTT: No, you can't count the "Out of Work" as the unemployed. You have to look for work to be unemployed.



COSTELLO: But .... they are out of work!



ABBOTT: No, you miss my point.



COSTELLO: What point?



ABBOTT: Someone who doesn't look for work, can't be counted with those who look for work. It wouldn't be fair.



COSTELLO: To who?



ABBOTT: The unemployed.



COSTELLO: But they are ALL out of work.



ABBOTT: No, the unemployed are actively looking for work... Those who are out of work stopped looking. They gave up. And, if you give up, you are no longer in the ranks of the unemployed.



COSTELLO: So if you're off the unemployment roles, that would count as less unemployment?



ABBOTT: Unemployment would go down. Absolutely!



COSTELLO: The unemployment just goes down because you don't look for work?



ABBOTT: Absolutely it goes down. That's how you get to 9%. Otherwise it would be 16%. You don't want to read about 16% unemployment do ya?



COSTELLO: That would be frightening.



ABBOTT: Absolutely.



COSTELLO: Wait, I got a question for you. That means they're two ways to bring down the unemployment number?



ABBOTT: Two ways is correct.



COSTELLO: Unemployment can go down if someone gets a job?



ABBOTT: Correct.



COSTELLO: And unemployment can also go down if you stop looking for a job?



ABBOTT: Bingo.



COSTELLO: So there are two ways to bring unemployment down, and the easier of the two is to just stop looking for work.



ABBOTT: Now you're thinking like an economist.



COSTELLO: I don't even know what the hell I just said!





And now you know why Obama's unemployment figures are improving!

[Alibaba]

Unfortunatly, working Construction, I was laid-off today.. 2011 may hve been my worst year since I got out of the Army in 1973. I only have a few weeks of Unemployment benefits left in my claim.

I gsuppose I could blame Obama, but I doubt that any Republican can make the comercial & Industrial construction bussiness any better for Us Union constructions folks.

When your neighbor is not working, its a recession, WHen I am not working its a Depression.

[US27inKS]

Sorry to hear you lost your job. I hope something comes along soon.

Isn't is sad to think that as soon as your unemployment benefits run out, you'll no longer be "unemployed"? You'll just be another statistic of people who have "left the workforce". Just another offset to the dismal job growth used to make politicians look like they don't suck as bad as they do.

I've not been in any union for any length of time, so I don't know what is available to you for your years of membership. Hopefully something.

[Bene505]

Sorry to hear that. So what's your plan? Do you have any ideas in the works?

Regards,
Brad

[jackdale]

Originally Posted by Alibaba

Unfortunatly, working Construction, I was laid-off today.. 2011 may hve been my worst year since I got out of the Army in 1973. I only have a few weeks of Unemployment benefits left in my claim.

I gsuppose I could blame Obama, but I doubt that any Republican can make the comercial & Industrial construction bussiness any better for Us Union constructions folks.

When your neighbor is not working, its a recession, WHen I am not working its a Depression.

I should mention that I like the post, not what happened to you.

[PBzeer]

For those who don't like gridlock, an interesting chart:



Prior to the 2010 election, as the graph shows, employment is rising. Following the election when the GOP took over the House, and the dreaded gridlock began, employment starts falling.

Does that mean stopping Obama policies is helping? Maybe yes, maybe no. Does it mean that the Obama policies that were supposed to work 3 years ago are finally working? Seems unlikely, given the target of those policies.

You, of course, can draw your own conclusions.

[cupper3]

Originally Posted by Alibaba

Unfortunatly, working Construction, I was laid-off today.. 2011 may hve been my worst year since I got out of the Army in 1973. I only have a few weeks of Unemployment benefits left in my claim.

I gsuppose I could blame Obama, but I doubt that any Republican can make the comercial & Industrial construction bussiness any better for Us Union constructions folks.

When your neighbor is not working, its a recession, WHen I am not working its a Depression.

Sorry for your situation, and I truly mean that, as I have been there in the past.

However, part of the problem IS unions. In today's world, they do serve a purpose for pension and medical benefit purposes, but other then that, often their intransigence is the cause of the right to work legislation, and the reason many contractors go with non-union labor.

Recently here in Canada Catepillar closed their manufacturing plant. Now much has been made that they were "union busting" for insisting a 50% cut in wages. What is often not mentioned is that amount would bring the wages in line with what is being paid in the new plant in Muncie, Indiana. BTW, that is a huge cut, and I acknowledge that.

So, 450 workers here lose any income, and 450 new hires get income in Muncie.

And the union did itself proud in standing up for their priniciples, didn't' it?

Sure, they argue Cat is making money, and it is. That plant wasn't.

Article here