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The “Falling” Unemployment Rate
Below is another take on last week’s US unemployment figures. The full article is at http://globaleconomicanalysis.blogspot.com/2012/02/nonfarm-payroll-243000-unemployment.html
Quick Notes About the “Falling” Unemployment Rate
- In the last year, the civilian population rose by 3,565,000. Yet the labor force only rose by 1,145,000. Those not in the labor force rose by 2,420,000.
- In January, the Civilian Labor Force rose by 508,000.
- In January, those “Not in Labor Force” rose by an amazing 1,177,000. If you are not in the labor force, you are not counted as unemployed.
- Participation Rate fell .3 to 63.7%, taking out a 1984 low
- Were it not for people dropping out of the labor force, the unemployment rate would be well over 11%.
Source: http://globaleconomicanalysis.blogspot.com/2012/02/nonfarm-payroll-243000-unemployment.html
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Real-World Economics Review Blog 
plugging the fan in now
Welcome to “new speak” a la George Orwell
The unemployment figures have become totally ridiculous… because students at colleges and unis of course arent counted (never mind the younger generation is in college because there arent enough jobs and never mind those who have just given up looking and never mind those who have had their casual hours stripped down to the bare minumum and below).
What a joke….the official unemployment number. Who do they think they are fooling?
Alice:
Who do they think they are fooling? The answer: the media, the pundits on TV, and ultimately most of the general public — see the Dow Jones rise?
Paul Davidson
You can fool some of the people some of the time Paul but when a few of the people are trying fool a great mass of the people all of the time (with “official statistical” help)…things have certainly gotten more than a bit dodgy on the misinformation highway..