Posts Tagged ‘initial jobless claims’

With Naked Obama Regime Propaganda All Around, America Under Obama Has Now Seen The 30 Worst Months Of Unemployment In 25 Years

May 26, 2012

What’s worse: when a government fails its people or when a government that is failing its people resorts to propaganda to hide the truth?

Under Obama: 30 Worst Months of Employment in the Past 25 Years
8:05 AM, May 23, 2012 • By JEFFREY H. ANDERSON

The federal government’s Bureau of Labor Statistics publishes monthly tallies for the employment-population ratio.  That stat shows something rather straightforward:  Among those who are living in America and are free to pursue employment, what percentage are employed?  (The bureau excludes those who are under 16 years old, are active-duty military, or are — in the bureau’s own words — “inmates of institutions (for example, penal and mental facilities, homes for the aged),” from its tallies.)

Over the past quarter of a century (a total of 300 months), dating back to May 1987 and the Reagan administration, here are the 30 worst months (that is, the bottom 10 percent) for the employment-population ratio, along with the president who happened to be in office at that particular time (scroll down to the see the list):

1. (tie) July 2011, 58.2 percent, President Barack Obama
1. (tie) June 2011, 58.2 percent, Obama
1. (tie) November 2010, 58.2 percent, Obama
1. (tie) December 2009, 58.2 percent, Obama
5. (tie) August 2011, 58.3 percent, Obama
5. (tie) December 2010, 58.3 percent, Obama
5. (tie) October 2010, 58.3 percent, Obama
8. (tie) April 2012, 58.4 percent, Obama
8. (tie) October 2011, 58.4 percent, Obama
8. (tie) September 2011, 58.4 percent, Obama
8. (tie) May 2011, 58.4 percent, Obama
8. (tie) April 2011, 58.4 percent, Obama
8. (tie) February 2011, 58.4 percent, Obama
8. (tie) January 2011, 58.4 percent, Obama
15. (tie) March 2012, 58.5 percent, Obama
15. (tie) January 2012, 58.5 percent, Obama
15. (tie) December 2011, 58.5 percent, Obama
15. (tie) November 2011, 58.5 percent, Obama
15. (tie) March 2011, 58.5 percent, Obama
15. (tie) September 2010, 58.5 percent, Obama
15. (tie) August 2010, 58.5 percent, Obama
15. (tie) July 2010, 58.5 percent, Obama
15. (tie) June 2010, 58.5 percent, Obama
15. (tie) March 2010, 58.5 percent, Obama
15. (tie) February 2010, 58.5 percent, Obama
15. (tie) January 2010, 58.5 percent, Obama
15. (tie) November 2009, 58.5 percent, Obama
15. (tie) October 2009, 58.5 percent, Obama
29. February 2012, 58.6 percent, Obama
30. (tie) May 2010, 58.7 percent, Obama
30. (tie) April 2010, 58.7 percent, Obama
30. (tie) September 2009, 58.7 percent, Obama

Interestingly, the 30 (or 32, including ties) worst months for employment in the past 25 years have all come after the most recent recession ended, in June 2009. In other words, they’ve all come during the Obama “recovery.”

What’s more, under every other president during the past 25 years (spanning from the later stages of the Reagan presidency through the entire George W. Bush presidency), the employment-population ratio was always over 60 percent — every single month, for 260 consecutive months. In vivid contrast, with the exception of the month in which he took office (January 2009) and his first full month in office (February 2009), the employment-population ratio under Obama has always been under 60 percent — every single month, for 38 consecutive months. (For 32 consecutive months — from September 2009 to the present day — it’s been under 59 percent.)

In fact, the worst non-Obama month in the past 25 years was December 2008, when the employment-population ratio was 61.0 percent under George W. Bush. Comparatively, Obama’s best month to date (not counting January 2009, when he entered midstream) was his first, February 2009, when the employment-population ratio was 60.3 percent. In other words, over the past 25 years, the worst month under any other president has beaten the best month under Obama.

Again, what’s worse, employment numbers perennially in the toilet or government propaganda regarding said employment numbers being perennially in the toilet?

I’ll let you decide, but they’re both going on at the same time under the “hope and change” administration of Barry Hussein:

Inital Claims Soar Again, Ninth Consecutive Miss To Expectations In A Row: BLS Back To Propaganda School
Submitted by Tyler Durden on 04/19/2012 08:42 -0400

There are those who thought last week’s massive Initial claims miss was the last one. They were wrong. Instead of printing at the expected 370K, an improvement from last week’s already big miss of 380K, this week came at a whopping 386K, the worst standalone print in 4 months. Well, until last week’s revision that is: instead of the 380K print that stunned everyone, last week’s number has now been revised to a massive 388K. Why? So that mainstream media can declare, with a straight face, that this week saw the number of initial claims decline! Here is the reality: last week’s expectation was for a print of 355K. Instead we got a number of 380K. Now this number is being revised to 388K, and is the biggest initial expectation to revision miss since early 2011. Needless to say, this means two things: 1) the transitory bump associated with record warm weather, which was nothing but pulling from the future, is now over, and 2) the April NFP print will be another disaster, which is just as the Fed wants it – after all it is time to start setting the stage for the NEW QE (and certainly not QE3 which is already in place as Jeff Gundlach was so kind to explain) now that Obama is the margin hiker in chief.

The chart below shows the difference between the actual print (revised) and the expectation survey: 9 straight misses in a row.

For those not on the propaganda hopium dole, this is how YTD revisions look like, courtesy of John Lohman:

Tyler Durden wrote this back in mid-April.  If I may draw your attention to the very last chart immediately above, Eric Bolling reported yesterday that the jobless numbers have now been revised upward – meaning the initial report was that employment numbers were better than they actually were – for twenty consecutive weeks in a row. 

Obama knows that once the report comes out, the market reacts based on that initial report and few ever bother to pay attention about the revision that comes out later.  It’s a great way to sell lies. 

If I flip a coin and come up with heads twenty times in a row, you’d better look at my coin before we make a bet on the next coin toss when I call “heads” again.

But it’s still worse than that: because as New York Times reporter Louise Story pointed out May 26, 63 of the last 64 Department of Labor weekly jobless reports have now revised the jobless numbers HIGHER.  I couldn’t find her work on that, but here’s an article from a few weeks earlier that describes the same situation: 

Lies, Damned Lies and Government Jobs Data (oringinal article available here)

As analysts dig into the government jobs numbers, questions are being raised about the reliability of the data. 59 out of the last 60 weeks, the weekly jobless numbers have been revised after the fact to a higher number. The unemployment rate has been questioned too because the number doesn’t include people who stopped looking for work, but still want a job.

By Elizabeth MacDonald
Published May 02, 2012
Fox Business

There is lots of talk about the “fiscal cliff” the U.S. faces at year end, as stimulus and tax cuts go away.

So the last thing the government needs now is market distrust in its job numbers. But, as analysts dig into the government job numbers, questions are increasingly being raised about the reliability of the data, from questionable revisions in the weekly jobless numbers to the odd changes in unemployment rates.

For 59 out of the last 60 weeks, the weekly jobless numbers have been revised, after the fact, always in the same direction: higher. That’s unheard of.

Those revisions higher make the present week’s unemployment number look better in comparison, more so since the markets often treat the prior week’s revision as an afterthought.

This is naked, glaring propaganda.  But it’s not being very widely reported, is it?

This is the worst government for propaganda since Hitler and Stalin.  It’s not just that the Obama regime continually lies; it is that a Joseph Goebbels-style media eagerly swallows each new lie with enthusiasm.

New Jobs Figures A Real April Fools Day Joke On America

April 2, 2011

This is a joke that needs a little explaining.  But the real joke is on anyone fool enough to fall for the charades:

U.S. employment jumps in March, jobless rate falls
Apr 1, 2011
Lucia Mutikani

WASHINGTON (Reuters) – U.S. employment recorded a second straight month of solid gains in March and the jobless rate fell to a two-year low of 8.8 percent, marking a decisive shift in the labour market that should help to underpin the economic recovery.

Nonfarm payrolls rose 216,000 last month, the largest increase since May, the Labour Department said on Friday. January and February employment figures were revised to show 7,000 more jobs than previously reported.

The strong job gains come amid indications the economy suffered a minor setback early in the year as bad weather and rising energy prices dampened activity.

“All the evidence is pointing to a strengthening labour market,” said Bill Cheney, chief economist at John Hancock Financial Services in Boston.

First of all, remind me never, EVER to do business with John Hancock Financial Services.

Just to point out how incredibly and massively biased the “experts” who are spinning these numbers are, let me quote this same Bill Cheney from the same John Hancock from when Bush was president and the unemployment rate was more than THREE POINTS LOWER:

“We were expecting to celebrate New Year’s and instead got slapped with a pink slip,” said Bill Cheney, chief economist at John Hancock Financial Services.

The subtitle of that CNN Money article was “Jobs grow by just 1,000 in December, although unemployment rate drops to 5.7%.”

So, for those who are keeping score, when liberals are allowed to have a voice, 8.8% unemployment is good; 5.7% is bad.

I’m just saying: this couldn’t be more biased, full-of-crap propaganda by people who write the news based entirely on their leftwing ideology.  And they manage to track down economists who do the same thing.  And voilà: a expert-confirmed news story.

And this is just part of a very long, very well-established pattern of mainstream media “journalists” denouncing Republican economic data and blessing Democrat economic data even when the Republican data is BETTER than the Democrat numbers.

Here’s an interesting factoid that doesn’t seem to get any mention in the mainstream media: Unless I’m seriously mistaken, the unemployment rate has gone down every month since Republicans took control of The House in January:

Unemployment was if anything going UP.  And then Republicans took over, and whammo.  It started going down.  But Republicans didn’t receive so much as a scintilla of credit from the mainstream media.  It’s just amazing.

That’s first.  Second, there’s the facts that you have to dig for:

Still, the job gains haven’t led many people who stopped looking for work during the recession to start again. Fewer than two-thirds of American adults are either working or looking for work — the lowest participation rate in 25 years. […]

The unemployment rate has fallen a full percentage point since November, the sharpest four-month drop since 1983. Stepped-up hiring is the main reason. But a more sobering factor is that the number of people who are either working or seeking a job remains surprisingly low for this stage of the recovery.

People without jobs who aren’t looking for one aren’t counted as unemployed. Once they start looking again, they’re classified as unemployed, and the unemployment rate can go back up. That can happen even if the economy is adding jobs.

Just 64.2 percent of adults have a job or are looking for one — the lowest participation rate since 1984. The number has been shrinking for four years. It suggests many people remain discouraged about their job prospects even as hiring is picking up.

This magnificent unemployment rate success largely reflects the fact that more and more people are just dropping out of the employment picture altogether.  And three of the four years this has been going on have been going on under Obama.

Here’s a graph of the labor participation rate:

Note how it skyrocketed under Ronald Reagan.  Note how it went DOWN under Bill Clinton until the Republicans OWNED the Democrats in 1994 and took over both the House and the Senate.  Note how it went down under Bush following the Dotcom bust (and the 9/11 attack) that Bush inherited from Bill Clinton.

As I point out in a previous article:

George Bush inherited the policies that led to the 9/11 disaster only months into his presidency.  George Bush inherited the Dotcom disaster that wiped out 78% of the Nasdaq index along with $7.1 trillion in American wealth that was just vaporized as a result of Bill Clinton’s economy.  And rather than spend the next two years blaming his predecessor, Bush cut taxes and turned the economy around.  At least until Democrat policies such as the Community Reinvestment Act and Democrat refusal to reform and regulate Democrat-created Fannie and Freddie brought America crashing down.

Why don’t we blame the president who actually sued banks to force them to make bad loans to people who couldn’t afford the home loans that the banks were forced to provide???

By the standard the Democrats used to demonize George Bush in 2004, Barack Obama is the worst president in American history.

But the media prefers “the unexpected” to “the truth.”

You never hear how the first two years of Clinton were such a failure that he got the worst shellacking in fifty years; and then suddenly under Republican control things got mysteriously better as THEY cut spending and balanced the budget mostly over Clinton’s vetoes.  You just keep hearing that “Clinton balanced the budget.”

Note how Bush brought that declining labor participation back up after his tax cuts were passed and began to take effect.  And how that has happened AGAIN as the successful Republican-Bush tax rates were continued and things suddenly got miraculously better.

But let’s consider some other things.

We added 216,000 jobs last month.  Congratulations.  Here’s how many NEW unemployment claims were added every single WEEK in March:

Something just seems so wrong with this picture.  It makes that 216,000 jobs being added during the entire month of March just seem really, really sucky.

Somewhat similarly, the replacement rate due to population growth, etc. is 300,000 jobs a month:

“In order to make a real dent in the unemployment rate, economists estimate that at least 300,000 jobs need to be created each month.”

Meaning, we need to create 300,000 jobs a month just to stay even. But we created 216,000 jobs in March, which caused the unemployment rate to drop.  How’s that?!?!?

For the record, Gallup reported unemployment at a far more believable 10% in March.

What is truly being heralded here as a giant success is that millions of Americans are simply giving up and abandoning the work force altogether in Obama’s God damn America.