The September Jobs Report - The Real Story

[boedicca]

From the BLS Report, here's the real story behind the 9.6% unemployment rate:

More people have given up looking for work and are no longer counted as unemployed.

The Data:

Civilian Noninstitutional Population increased by 223K
Civilian Labor Force increase by 48K
Total Employed increased by 141K
Total Not In The Labor Force increased by 175K
Working Part Time for Economic Reasons increased by 612K

If part time work had not increased by such a large extent, unemployment would have increased.

The number of jobs being created are just enough to nominally cover population growth, but are doing nothing to reduce unemployment.

Employment Situation Summary Table A. Household data, seasonally adjusted


U-6 Unemployment (which includes "marginally attached" part time workers and those who have given up looking for now) increased from 16.7% to 17.1%.

So, if anyone says that the reason unemployment is not decreasing due to more people looking for work, that is utter nonsense. U6 proves them wrong.

 

[loosecannon]

Part time for economic reasons
9,158 8,529 8,860 9,472 612

Slack work or business conditions
6,815 6,119 6,380 6,733 353

Could only find part-time work
2,081 2,246 2,347 2,456 109

Part time for noneconomic reasons
18,590 18,157 18,558 18,234 -324

Persons not in the labor force (not seasonally adjusted)


Marginally attached to the labor force
2,219 2,622 2,370 2,548 -

Discouraged workers
706 1,185 1,110 1,209 -

marginally attached and discouraged workers went way up as well but they didn't even bother to post the increase.

 

[topspin]

64,000 new private sector jobs.

 

[pinqy]

From the BLS Report, here's the real story behind the 9.6% unemployment rate:

More people have given up looking for work and are no longer counted as unemployed.

The Data:

Civilian Noninstitutional Population increased by 223K
Civilian Labor Force increase by 48K
Total Employed increased by 141K
Total Not In The Labor Force increased by 175K
Working Part Time for Economic Reasons increased by 612K

If part time work had not increased by such a large extent, unemployment would have increased.

The number of jobs being created are just enough to nominally cover population growth, but are doing nothing to reduce unemployment.

Employment Situation Summary Table A. Household data, seasonally adjusted


U-6 Unemployment (which includes "marginally attached" part time workers and those who have given up looking for now) increased from 16.7% to 17.1%.

So, if anyone says that the reason unemployment is not decreasing due to more people looking for work, that is utter nonsense. U6 proves them wrong.

But unemployment did decrease...the level went down 93,000. New entrants did go down, but reentrants went slightly up. The U-4 and U-5 stayed the same, so the increase in the U-6 is solely to an increase in part time for economic reasons. So more employment, just not good employment. Basically, nothing has changed.

 

[Douger]

Smoke and mirrors boys and gurlz............More bullshit from " them'.

 

[topspin]

Smoke and mirrors boys and gurlz............More bullshit from " them'.

your just jealous cause the shit hole you live in is 50 yrs from even having a jobs report.

 

[iamwhatiseem]

But...but...the market is almost at 11,000...

 

[boedicca]

64,000 new private sector jobs.

And there were 612K new part time jobs.

Do the math.

We lost hundreds of thousands of Full Time Jobs.

 

[boedicca]

But...but...the market is almost at 11,000...

The market is flat.

The only reason it looks like it's going up is because the dollar has devalued so much. Peg the market against the price of gold or the Euro - and it is flat.

 

[Douger]

Dollar ? Wut Dat ?
I made 3,882,568,000 This week.It's only 11 am. I expect a tad more before the day is out.
The markets are fine............in producing countries.
No. Not dolares.
Real money.

 

[loosecannon]

unemployment is only 4.3%, cheer up, Boedicca!

China Unemployment rate - Economy