Friday, February 3, 2012

Employment Report: Blatant, Outrageous Lies & Drop out nation

More news about the drop in the labor participation rate, via Zero Hedge (emphasis in original):

A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is to crush the labor force participation rate to about 55%. Looks like the good folks at the BLS heard us: it appears that the people not in the labor force exploded by an unprecedented record 1.2 million. No, that’s not a typo: 1.2 million people dropped out of the labor force in one month! So as the labor force increased from 153.9 million to 154.4 million, the non institutional population increased by 242.3 million meaning, those not in the labor force surged from 86.7 million to 87.9 million. Which means that the civilian labor force tumbled to a fresh 30 year low of 63.7% as the BLS is seriously planning on eliminating nearly half of the available labor pool from the unemployment calculation.

MORE@LegalInsurrection

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Employment Report: Blatant And Outrageous Lies

There are times when one questions a report as possibly being wrong or in error, and then there are times when one has to raise a flag and say "This is an intentionally false picture being presented by a government agency."

I'm in the latter camp with this one, and it is rare for me to brand something as not possibly wrong and in error, but intentionally fraudulent.

MORE@TheMarketTicker

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How about 9.04%?


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