Friday, February 1, 2013

Unemployment back UP!

What a recovery! Nooo, they didn't cook the books for Obama's reelection. This is just a post-election adjustment...yeah, that's what we'll call it...

CNSNews: The number of Americans not in the labor force grew by 169,000 in January, according to the Bureau of Labor Statistics’ latest jobs report.

BLS labels people who are unemployed and no longer looking for work as “not in the labor force,” including people who have retired on schedule, taken early retirement, or simply given up looking for work. There were 89 million of them last month.

The number of people not in the labor force had declined in December to 88.8 million from 88.9 million in November.

The nation's unemployment rate increased a tenth of a point in January, rising to 7.9 percent from 7.8 percent, a level the Labor Department described as "essentially unchanged."

The number of unemployed persons, at 12.3 million, was little changed in January and has been at this level since Sept. 2012.

Among the major worker groups, the unemployment rates for adult men (7.3 percent), adult women (7.3 percent), teenagers (23.4 percent), whites (7.0 percent), blacks (13.8 percent), and Hispanics (9.7 percent) showed little or no change in January. The jobless rate for Asians was 6.5 percent (not seasonally adjusted), little changed from a year earlier.

In January, the number of long-term unemployed (those jobless for 27 weeks or more) was about unchanged at 4.7 million and accounted for 38.1 percent of the unemployed.

Interesting how the demographics reflective of Obama's voter base, so we're told, have more permeating joblessness. You'd think that would have an impact on them...but then again, that implies they're thinking.

ADDENDUM: And the media spin this as good news...all for Dear Leader.

Breitbart: After the American economy delivered more bad news today in the form of an increase in the unemployment rate and job growth that barely kept up with the increase in population, it took exactly 4.3476 seconds for the Washington Post's Ezra Klein and some flak for NBC News to jump before the "Morning Joe" cameras to assure Americans this was good news.

Apparently, the increase in the unemployment rate means the economy is so good, more people are joining the labor force ... except 169,000 people dropped out of the labor force and the economy isn't good; it collapsed over three points in the last quarter and shrunk 0.1.

The AP called today's news "upbeat, " you know, even though consumer confidence hit a two-year low. But still, people are optimistic and looking for work … in an economy where chronic unemployment hasn't been this bad since World War II.

But according to Ezra Klein that's because a government that increased spending during the last quarter of last year, actually decreased spending.

And George Orwell sings: doo da do da do da do…

Never mind that 8.5 MILLION Americans left the labor force just in Obama's first term. Forward!