US jobless down to 5 percent as 271,000 jobs created in October

[zierf1]

Plenty of jobs out there but most are paying close to minimum wage. Unfortunately, the good times(if you can call them that) won't last much longer. When the business cycle peaks things will be very very ugly. The same old cycle will begin. Stock market crashes. Fed cuts interest rates to negative. The 'recovery' starts and more good jobs are lost and replaced by hamburger flipping jobs.

[jjJJ1133]

According to the Bureau of Labor statistics the U.S. workplace participation is the lowest since about 35 years ago (about 62 percent of population working).

There are approximately 94 million Americans out of work. The Government reports the U-3 unemployment rate which doesn't include workers who are no longer seeking work or have exhausted all unemployment benefits. The U-6 unemployment is considered a more accurate rate which is a broader measure of the unemployment rate. The U-6 unemployment rate is approximately 12 percent according the BLS (Bureau of Labor statistics). Of course the government will not report the U-6 rate which is more representative of the actual unemployment rate.

Obamacare has forced millions of full-time jobs to become part-time due. For workers who are on the job 30 hours or more companies must provide health care or be hit with a financial penalty. Since Obama has been President more than 20 million have been added to the food stamp program. National debt is approximaely $19 Trillion (with a "T") - by time he leaves office the accumulated debt will exceed more than ALL the U.S. Presidents combined.

[spidermike007]

Absolute horseshit. The low jobless rate has been fabricated by Blundering Barry got years now. That figure is a Frankensteinian creation of mythic proportions. So many revisions have been made to the criteria that it no longer means anything to those of us with questioning minds, and a strong distrust of disingenuous government.

The friends I have in the US, which are many, say things are going great. Be careful what you read in the media. But from what I hear, it's pretty good. As is usual, many unemployed that prefer to be unemployed. Sadly....

I have many American friends too. Some are doing great. Others are struggling. I would say 8% are doing great, and 92% are having a harder time. As a businessman, I find the vast majority of American consumers are very skittish, and unwilling to spend any real money. That does not apply to the 8%. Obama has been fudging these numbers for so long, that the real unemployment rate has got to be over 20%.

[Jingthing]

Fudging the numbers is not something special for Obama. They all do that. But I agree there is a lot of PAIN out there.

[connda]

Lies, da*m lies, and statistics!

http://www.shadowstats.com/alternate_data/unemployment-charts

Quantum Deniablity in Action: "Don't look at the 93 million people who don't have jobs. They don't really exist anymore...on paper!"

<shhhhhhh>

If you don't look at it, it's not there.

Edited November 7, 2015 by connda

[Chicog]

thats why they a swamping the country with all the immirants like the EU..its a planned take down and that includes the $

Have you got your tin foil hat on?

[Pinot]

Heads are exploding in Wingnuttia! How could there possibly be good news coming from the American economy? Fox News is completely clueless how to spin this after they've been telling people the end is near and Obama is the devil.

You can see it here on TV in the comments above. They're all going crazy trying to spin these numbers. How is this possible? The statistics are all bad! They're from the "Libural" media!!!

The election of a Republican candidate (scary, I know), is all based on the economy being in the dumpster and the world being the edge of collapse, with the strong Republican hero the only one who can save us.

Sorry boys, it ain't happening.

Edited November 7, 2015 by Pinot

[Neurath]

An unemployment rate measures the economy's demand for labor and the demand for employment of the labor force. Simply stated, if someone is both not employed and (according the survey data used) not actively looking for work in the last 4 weeks, then they not included in an unemployment rate. Nothing strange about this, it has been so for decades.

If someone is both not employed and not actively seeking work, the usual response is to blame that person - they lack drive and character. The reasons for being both not employed and actively seeking work are various. Those with a conservative bent will point to welfare. I would point to retirees who spend their time on thaivisa.

[up-country_sinclair]

Of Overall, 94,513,000 Americans were out of the workforce in October.

And some posters wonder why they have no credibility.

In 2012, there were 36 million retired workers collecting social security. Care to wager if that number has increased or not in the last few years? But yes, from the hyperpartisan perspective, they are considered as "out of the workforce".

http://edition.cnn.com/2012/08/17/politics/btn-social-security/

In 2012 there were 13 million full-time college students in the US. And again, from the hyperpartisan perspective they are also considered as "out of the workforce".

https://en.m.wikipedia.org/wiki/Higher_education_in_the_United_States

Such silliness.

I just halved your "out of the workforce" malarkey in less than a minute.

There are plenty of legitimate ways to criticize the Obama administration for its stewardship of the economy, but this particular tack is as lazy as it is disingenuous.

[Neurath]

Of Overall, 94,513,000 Americans were out of the workforce in October.

And some posters wonder why they have no credibility.

In 2012, there were 36 million retired workers collecting social security. Care to wager if that number has increased or not in the last few years? But yes, from the hyperpartisan perspective, they are considered as "out of the workforce".

http://edition.cnn.com/2012/08/17/politics/btn-social-security/

In 2012 there were 13 million full-time college students in the US. And again, from the hyperpartisan perspective they are also considered as "out of the workforce".

https://en.m.wikipedia.org/wiki/Higher_education_in_the_United_States

Such silliness.

I just halved your "out of the workforce" malarkey in less than a minute.

There are plenty of legitimate ways to criticize the Obama administration for its stewardship of the economy, but this particular tack is as lazy as it is disingenuous.

Oh, and don't forget the 'traditional families' that some bang on about all the time - you know, the one's with 'stay at home mothers'.

Here's how it is: if a 10 year drought broke, some posters here would be whining about getting wet - and then blame the Hussein Obama Administration causing a marked uptake in the common cold.

[Srikcir]

BOT will have to make another rate cut, likely another 0.25% to prop up the baht again before end of year. Joining TTP will be important to Thailand's future to share in the USA's improving economy. Unfortunately, the strengthening of the USA economy will also attract foreign investors to Thailand's detriment.

[Skeptic7]

94 Million out of the work force does not seem to affect the figures

I have seen independant % and they say it's closer to 34% unemployment

Please provide links. That type of figure is absolutely ludicrous. Can you imagine how many people would be on the street begging if 34% of the population were unemployed?

Considering I travel back to the USA often, traveling between rural Oklahoma and Arkansas, New York City, San Francisco & Seattle, I'm calling BS on your claims. I have seen no such issues, in fact many that I knew that had employment issues are currently gainfully employed. Please spread your fear mongering elsewhere unless you have facts to back it up.

Agreed. Things are humming. US airlines have been hiring thousands...and those are good jobs with good pay...career opportunities with life and health benefits...NOT minimum wage, part time jobs. And US airlines have always been a good indicator of US economic health. Record load factors and record profits.

For nearly 100 years, the USA has been the straw that stirs the drink of the world's economy.

[chuckd]

Of Overall, 94,513,000 Americans were out of the workforce in October.

And some posters wonder why they have no credibility.

In 2012, there were 36 million retired workers collecting social security. Care to wager if that number has increased or not in the last few years? But yes, from the hyperpartisan perspective, they are considered as "out of the workforce".

http://edition.cnn.com/2012/08/17/politics/btn-social-security/

In 2012 there were 13 million full-time college students in the US. And again, from the hyperpartisan perspective they are also considered as "out of the workforce".

https://en.m.wikipedia.org/wiki/Higher_education_in_the_United_States

Such silliness.

I just halved your "out of the workforce" malarkey in less than a minute.

There are plenty of legitimate ways to criticize the Obama administration for its stewardship of the economy, but this particular tack is as lazy as it is disingenuous.

Oh, and don't forget the 'traditional families' that some bang on about all the time - you know, the one's with 'stay at home mothers'.

Here's how it is: if a 10 year drought broke, some posters here would be whining about getting wet - and then blame the Hussein Obama Administration causing a marked uptake in the common cold.

Talking about credibility, let's bother to look at Mr. Sinclair's post quoted above.

1. He mentions the retired workers drawing Social Security and provides a link that has nothing to do with the US Labor Force and immediately attempts to drop 36 million from the 94 million not participating in the labor force.

If he were to take the time to do some research he might find out the Labor Force participation rate only counts those citizens aged 16 to 64 years of age.

Citizens aged 64 or older are not included in the available labor force so how can 36 million citizens be reduced from the force when they are not included to begin with?

Let's add this 36 million back in since they were never there to begin with.

https://www.stlouisfed.org/on-the-economy/2015/june/labor-force-participation-the-us-and-its-peers

2. The 13 million students being removed by the poster are seasonally adjusted by the Bureau of Labor Statistics (BLS) to account for the school term periods.

We can add them back in as well. Magically the number of citizens aged 16-64 not included in the labor force is back up to 94,513,000, just as the Bureau of labor Statistics has claimed.

http://www.bls.gov/opub/ted/2015/summer-youth-employment-in-july-2015.htm

---------------------------------------------------------------------

Mr. Sinclair then makes this comment:

"Such silliness.

I just halved your "out of the workforce" malarkey in less than a minute.

There are plenty of legitimate ways to criticize the Obama administration for its stewardship of the economy, but this particular tack is as lazy as it is disingenuous."

Perhaps he should have used a little more of his valuable time to verify his facts before he said the 94 million citizens not in the labor force was disingenuous.

For those interested in the facts, here is a link to the BLS site which verifies the 94 million count.

http://www.bls.gov/news.release/empsit.t01.htm

[arjunadawn]

Did we forget about the Baby Boomers.... Data from the U.S. Census Bureau show that there are 76.4 million baby boomers. There were actually a total of 76 million births in the United States from 1946 to 1964, the 19 years usually called the "baby boom."

Everyone knew that eventually the Baby Boomers would retire and be "out of work" and not seeking employment due to retirement or disability.

I was born near the end of that era and expect to retire next year. I don't intend to look for work so I'll be part of that statistic just like my elderly father.

Baby Boomers aging has caused many expected issues in the USA.

Medical services have and will continue to Boom.

Baby Boomers have prospered and due to there deaths are causing the greatest weath transfer ever seen in the USA.

Social Security and Medicare are straining under the increased load of the Baby Boomers due to inadequate planning.

We all saw this coming why is anyone surprised.

Should my father and I go to work until we die to make the numbers look better for you?

Opinions are like A"""""s....everybodys got one.

Every year x amount of baby boomers enter a new accounting category. This population of people would then be excluded from the sampling accounting of the Unemployment Rate. To be frank, it is very complex and they have some magical accounting, but we generally know what is excluded from the numbers. You use the words "out of work" whereas when that happens they are, by definition, no longer able to be counted among the workforce. No, these people are not part of the equation in which these numbers are spun. But yes, we have all seen the other thing you mention coming. These masses will start drawing from the Social Security Trust, which has been raped for years. So, at the other end of those not working to pay entitlements for those now receiving, those receiving cannot really depend on this too much longer. More drain, less employment=disaster.

Unsure what you meant by "Baby Boomers have prospered and due to there deaths are causing the greatest wea[l]th transfer ever seen in the USA" but it seems interesting.

[Mike45]

Did we forget about the Baby Boomers.... Data from the U.S. Census Bureau show that there are 76.4 million baby boomers. There were actually a total of 76 million births in the United States from 1946 to 1964, the 19 years usually called the "baby boom."

Everyone knew that eventually the Baby Boomers would retire and be "out of work" and not seeking employment due to retirement or disability.

I was born near the end of that era and expect to retire next year. I don't intend to look for work so I'll be part of that statistic just like my elderly father.

Baby Boomers aging has caused many expected issues in the USA.

Medical services have and will continue to Boom.

Baby Boomers have prospered and due to there deaths are causing the greatest weath transfer ever seen in the USA.

Social Security and Medicare are straining under the increased load of the Baby Boomers due to inadequate planning.

We all saw this coming why is anyone surprised.

Should my father and I go to work until we die to make the numbers look better for you?

Opinions are like A"""""s....everybodys got one.

Every year x amount of baby boomers enter a new accounting category. This population of people would then be excluded from the sampling accounting of the Unemployment Rate. To be frank, it is very complex and they have some magical accounting, but we generally know what is excluded from the numbers. You use the words "out of work" whereas when that happens they are, by definition, no longer able to be counted among the workforce. No, these people are not part of the equation in which these numbers are spun. But yes, we have all seen the other thing you mention coming. These masses will start drawing from the Social Security Trust, which has been raped for years. So, at the other end of those not working to pay entitlements for those now receiving, those receiving cannot really depend on this too much longer. More drain, less employment=disaster.

Unsure what you meant by "Baby Boomers have prospered and due to there deaths are causing the greatest wea[l]th transfer ever seen in the USA" but it seems interesting.

http://www.cnbc.com/2014/07/22/great-wealth-transfer-will-be-30-trillionyes-thats-trillion-with-a-t.html

[danmarnj]

If everyone stopped looking for work, we would have a zero unemployment rate!

[arjunadawn]

http://www.cnbc.com/2014/07/22/great-wealth-transfer-will-be-30-trillionyes-thats-trillion-with-a-t.html

Posts edited regarding Baby Boomers/Unemployment/SS

I get it. I see what you mean. Considering the grand theft of the US government upon inheritance a great amount of this money will go back into redistributing the earned wealth. Thanks.

[craigt3365]

Absolutely correct. The American government manipulates everything to keep its populace in the dark and uniformed. The current administration has done nothing to help the poor or middle class and I doubt the next President will do anything either unless a miracle happened and Bernie Sanders was elected. The truth is that the United States is printing money at an alarming rate and while the markets are reacting they do so because they know that if the US goes under so will they. Politicians, Lawyers and Accountants. Only they will be left along with the cockroaches if a nuclear war erupts. You can't tell the difference.

Sorry, but BS. The government is one of the most open in the world. Journalists are free to peruse non-sensitive data at will. It's out there for the public to view. Some don't like how the unemployment numbers are calculated, but not matter how it's done, some will always be unhappy. You can please some of the people some of the time, but not all of the people all of the time.

My brother is in the healthcare industry. And has no health insurance. He says Obama's new policy is a dream for him, and many others. He's living with it and knows better than us over here.

I find it amazing that many on here who complain have never been to the US. And get most of their info from "fringe" websites. Don't believe everything you read on zerohedge.com or RT times.

The US is doing very well right now. Some areas need addressing. Just like in every country. But overall, the US has come a long way since the 2nd biggest depression in history a few years ago.

[Boon Mee]

Y'all don't really believe in that 5% number now do you?

If so, I've got some beachfront property for sale cheap in New Mexico

[craigt3365]

That number is real. It's how they come up with it that upsets some. I could use a variety of approaches and show a variety of different results.

One of my favorite classes in college was how to lie and cheat with statistics. Many ways to come up with what you want. Probably no different than what most countries do around the world.

If you understand the basis, then it helps you plan. And let's not forget, the US government publishes a number of different unemployment stats. There isn't just one.

Even the U6 is now down to where it was 10 years ago.

http://www.cnbc.com/2015/06/05/whats-the-real-unemployment-rate.html

[Berkshire]

Absolutely correct. The American government manipulates everything to keep its populace in the dark and uniformed. The current administration has done nothing to help the poor or middle class and I doubt the next President will do anything either unless a miracle happened and Bernie Sanders was elected. The truth is that the United States is printing money at an alarming rate and while the markets are reacting they do so because they know that if the US goes under so will they. Politicians, Lawyers and Accountants. Only they will be left along with the cockroaches if a nuclear war erupts. You can't tell the difference.

Sorry, but BS. The government is one of the most open in the world. Journalists are free to peruse non-sensitive data at will. It's out there for the public to view. Some don't like how the unemployment numbers are calculated, but not matter how it's done, some will always be unhappy. You can please some of the people some of the time, but not all of the people all of the time.

My brother is in the healthcare industry. And has no health insurance. He says Obama's new policy is a dream for him, and many others. He's living with it and knows better than us over here.

I find it amazing that many on here who complain have never been to the US. And get most of their info from "fringe" websites. Don't believe everything you read on zerohedge.com or RT times.

The US is doing very well right now. Some areas need addressing. Just like in every country. But overall, the US has come a long way since the 2nd biggest depression in history a few years ago.

Agree. People can complain all they want about the unemployment rate, but it's always been calculated that way. What is indisputable is that the unemployment rate has been steadily going down under this administration. The GOP has to preach doom and gloom because that's the only way they can win back the Presidency. It's really quite amazing what President Obama has been able to accomplish after inheriting such as mess. But the Republicans will never admit it because frankly, they can't.

[up2u2]

lol the right wing's heads have exploded. They are all over the place in desperation. It is funny to watch. Fox News has lapsed into a coma, the right wing propaganda machine has been switched to overdrive exploding with misinformation.

'The numbers are all made up' rhetoric. Of course if Republicans were generating these numbers they would be solid gold accurate. Fact is interconnected Global financial markets make it impossible to fudge unemployment numbers by major trading countries. 2 years ago Australia released a month of unemployment numbers and within one hour the financial markets 'red flagged' the numbers as incorrect. The ABS withdrew the numbers immediately and discovered a statistical error of 0.2% and did not release new numbers till they had corrected the statistical analyses error which took an entire month to correct properly. The complex algorithms used by Global financial institutions cease to operate when incorrect data is put in. So that is all hogwash.

The funniest evidence used by 'employment deniers' is 'I have seen hundreds of signs for positions vacant in corner fruit and veg stores offering way above award wages desperately looking for workers'. Please. Really? Just nonsensical. In the next breath the right wingers are saying the real unemployment rate is 35% not 5%. Give me strength.

Corporate America can only dream of an unemployment rate of 35%. A massive work force down and out struggling to survive and plump and ripe to be exploited, reduce wages and grow profits. Republicans LOVE high unemployment numbers. The more people out of work the better.

[Boon Mee]

With record numbers of folks out of the workforce, you can make statistics show pretty much what you want, we guess...

[Pinot]

With record numbers of folks out of the workforce, you can make statistics show pretty much what you want, we guess...

The Obama administration is the worst thing that's happened in the history of the United States and all information counter to that wingnut fact is wrong.

Pathetic isn't it?

You can't make this stuff up folks. Republicans believe what they want to believe and don't let facts get in their way. It's an alternative universe where facts are discretionary.

[spidermike007]

Of the 94,513,000 US workers that are no longer in the labor force, nearly 60% of them are women.

-------------------------------------------------------------------

56,540,000 WOMEN NOT IN LABOR FORCE

by CAROLINE MAY

6 Nov 2015

The number of women outside the workforce decline slightly in October, according to new government data released Friday.

The Bureau of Labor Statistics reports that 56,540,000 women (ages 16 and over) were not employed or had made an effort over the past four weeks to find a job. October’s figures represented a decline of 107,000 from September’s record-breaking level of 56,647,000 women not in the workforce.

The workforce level for women mirrored the situation nationally, which saw the number of people outside the workforce at elevated levels but down slightly compared to September. Overall, 94,513,000 Americans were out of the workforce in October.

More here: http://www.breitbart.com/big-government/2015/11/06/56540000-women-not-labor-force/

And those 94 million are not counted in the funny numbers used to come up with this fictitious 5%. The accounting systems they use are positively criminal. The mafia is more honest with their numbers.

[VIPinthailand]

America going well? yeah sure... 60 percent don't pay tax.

120 trillion $ debts(included derivatives) , jobs created are barely enough for new (legal) immigrants.

if you bring the trash out, you are considered full time employed.

jobs pay crap and most are part time jobs like driver for Uber. full time job pay shit. many pay under minimum wage as you are required to work for free during week end or until midnight.

people don't take their 2 weeks vacation.

to resume, they live from paycheck to paycheck without any future. unemployment rate is over 35 percent. I would say 50 percent.

(this is what some US guys told me)

Edited November 8, 2015 by VIPinthailand

[craigt3365]

And those 94 million are not counted in the funny numbers used to come up with this fictitious 5%. The accounting systems they use are positively criminal. The mafia is more honest with their numbers.

A bit of a troll post there. The mafia are more honest. Seriously?

[connda]

If everyone stopped looking for work, we would have a zero unemployment rate!

Interesting perspective, but absolutely true. You could have 120 million people out of work, and a 0% unemployment rate.

Lies, da*m lies, and statistics!

[connda]

Absolutely correct. The American government manipulates everything to keep its populace in the dark and uniformed. The current administration has done nothing to help the poor or middle class and I doubt the next President will do anything either unless a miracle happened and Bernie Sanders was elected. The truth is that the United States is printing money at an alarming rate and while the markets are reacting they do so because they know that if the US goes under so will they. Politicians, Lawyers and Accountants. Only they will be left along with the cockroaches if a nuclear war erupts. You can't tell the difference.

Sorry, but BS. The government is one of the most open in the world. Journalists are free to peruse non-sensitive data at will. It's out there for the public to view. Some don't like how the unemployment numbers are calculated, but not matter how it's done, some will always be unhappy. You can please some of the people some of the time, but not all of the people all of the time.

My brother is in the healthcare industry. And has no health insurance. He says Obama's new policy is a dream for him, and many others. He's living with it and knows better than us over here.

I find it amazing that many on here who complain have never been to the US. And get most of their info from "fringe" websites. Don't believe everything you read on zerohedge.com or RT times.

The US is doing very well right now. Some areas need addressing. Just like in every country. But overall, the US has come a long way since the 2nd biggest depression in history a few years ago.

"Journalists are free to peruse non-sensitive data at will."

Non-sensitive data...what a joke for the Most Transparent Administration in History.

Which is why the government covers up issues by claiming data is not available because it is a 'national security risk', which in many case is simply a load of manure. If they actually didn't redact pertinent information in FOIAs, if they even will respond to a FOIA, then that manure would definitely 'hit the fan'.

"The US is doing very well right now."

Your reality goggles have a very nice pink tinge to them. You get your information from CNN and MSNBC, so you know that the US is doing wonderful.

My problem is I've lived long enough to see the difference. The difference between the 1950s and now is huge, so I don't believe any of the propaganda coming out of main steam news or alternative news that doesn't fit with the reality that I've experienced, and I've lived all over the US. I can tell who has an agenda, and I call BS on propaganda when I see it. Like your post.

Edited November 8, 2015 by connda

[samran]

lol the right wing's heads have exploded. They are all over the place in desperation. It is funny to watch. Fox News has lapsed into a coma, the right wing propaganda machine has been switched to overdrive exploding with misinformation.

'The numbers are all made up' rhetoric. Of course if Republicans were generating these numbers they would be solid gold accurate. Fact is interconnected Global financial markets make it impossible to fudge unemployment numbers by major trading countries. 2 years ago Australia released a month of unemployment numbers and within one hour the financial markets 'red flagged' the numbers as incorrect. The ABS withdrew the numbers immediately and discovered a statistical error of 0.2% and did not release new numbers till they had corrected the statistical analyses error which took an entire month to correct properly. The complex algorithms used by Global financial institutions cease to operate when incorrect data is put in. So that is all hogwash.

The funniest evidence used by 'employment deniers' is 'I have seen hundreds of signs for positions vacant in corner fruit and veg stores offering way above award wages desperately looking for workers'. Please. Really? Just nonsensical. In the next breath the right wingers are saying the real unemployment rate is 35% not 5%. Give me strength.

Corporate America can only dream of an unemployment rate of 35%. A massive work force down and out struggling to survive and plump and ripe to be exploited, reduce wages and grow profits. Republicans LOVE high unemployment numbers. The more people out of work the better.

Indeed, funny how the right wingers pick and chose their spoon fed lines from their propaganda websites. Like lemmings they are....

The right wingers love to bleat how markets (and guns) are the solution to all of things. Socialism they cry, is an evil. Trust in markets.

So we trust in markets. The good thing about markets, as you say, is they call BS on incorrect government statistics faster than you can say 'algorithm'.

But when the market doesn't call BS....well its all a conspiracy. They are in chahoots, trying to keep the 'man' down. Revolution is coming, don't tread on me. blah blah blah.

Every time there is a gun massacre in the US, the right like to wheel out the ole "mental health' issue. I'm starting to think they are onto something....except, it is the right who have mental health issues. If you see a conspiracy around every corner, then something is up. Chemical imbalance in the ole noggin. All played out here on TV.

Highly entertaining. Keep it up fellas. And, oh, take your meds.....