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Thread: US economy creates 243,000 jobs in January

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    Re: US economy creates 243,000 jobs in January

    The original source, if anyone is interested:

    Employment Situation Summary

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    Re: US economy creates 243,000 jobs in January

    Quote Originally Posted by Amigo View Post
    I correct myself: 1.2 mil.
    Where the hell are you getting those numbers, Amigo?

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    Re: US economy creates 243,000 jobs in January

    Quote Originally Posted by StillBallin75 View Post
    Where the hell are you getting those numbers, Amigo?
    Me thinks you need to read the entire thread, instead of just masturbating at the ones in favor of Obama.

    Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low | ZeroHedge
    Last edited by dontworrybehappy; 02-03-12 at 11:12 AM.

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    Re: US economy creates 243,000 jobs in January

    Quote Originally Posted by Amigo View Post
    It's amazing how liberals ignore that 1,000,000 people dropped out of the work force in January. Interesting!
    You do realize that this was primarily an effect of changes to the estimates of the size of the labor force as a result of incorporating additional statistics from the census, right? It doesn't mean that over a million people suddenly dropped out of the labor force. It does mean that they adjusted the size of the population upward as a result of the new data.

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    Re: US economy creates 243,000 jobs in January

    Quote Originally Posted by StillBallin75 View Post
    Where the hell are you getting those numbers, Amigo?
    Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low | ZeroHedge
    Quote Originally Posted by AdamT on Nov 8th, 2012 View Post
    Over the next four years the economy will continue to rebound and we will gradually get deficits under control. The real esate market will rebound, unemployment will fall to 6.5% or below, and GDP growth will stand at 3.5 - 4%. We won't be in any wars. And conservatives will still be whining.

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    Re: US economy creates 243,000 jobs in January

    From the actual BLS report:

    Adjustments to Population Estimates for the Household Survey
    Effective with data for January 2012, updated population estimates which reflect the results of Census
    2010 have been used in the household survey. Population estimates for the household survey are
    developed by the U.S. Census Bureau. Each year, the Census Bureau updates the estimates to reflect
    new information and assumptions about the growth of the population during the decade. The change in
    population reflected in the new estimates results from the introduction of the Census 2010 count as the
    new population base, adjustments for net international migration, updated vital statistics and other
    information, and some methodological changes in the estimation process. The vast majority of the
    population change, however, is due to the change in base population from Census 2000 to Census 2010.
    http://www.bls.gov/news.release/pdf/empsit.pdf

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    Re: US economy creates 243,000 jobs in January

    Yeah. I saw that. They don't bother to cite their original source, and the number "1.2 million" doesn't exist anywhere in the actual BLS report.

    Here's what they actually say:

    After accounting for the annual adjustments to the population controls, the employment-population ratio (58.5 percent) rose in January, while the civilian labor force participation rate held at 63.7 percent. (See table A-1. For additional information about the effects of the population adjustments, see
    table C.)
    So it seems to me that your blog, zero hedge either just made up some bull**** numbers, or misinterpreted them. Now how the **** is that possible if 1.2 million people drop out of the labor force?
    Last edited by StillBallin75; 02-03-12 at 11:16 AM.

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    Re: US economy creates 243,000 jobs in January

    Quote Originally Posted by StillBallin75 View Post
    Yeah. I saw that. They don't bother to cite their original source, and the number "1.2 million" doesn't exist anywhere in the actual BLS report.
    The number is derived from an upward adjustment of the overall population that resulted from the incorporation of census 2010 data. In fact the labor force grew from December to January, but it fell IN PROPORTION TO to the upwardly revised population figure. In other words, 1.2 million didn't just drop out of the labor force. Rather, the labor force all along was slightly bigger than they though it was.

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    Re: US economy creates 243,000 jobs in January

    Quote Originally Posted by AdamT View Post
    The number is derived from an upward adjustment of the overall population that resulted from the incorporation of census 2010 data. In fact the labor force grew from December to January, but it fell IN PROPORTION TO to the upwardly revised population figure. In other words, 1.2 million didn't just drop out of the labor force. Rather, the labor force all along was slightly bigger than they though it was.
    Which paragraph actually cites the "1.2 million"?

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    Re: US economy creates 243,000 jobs in January

    Quote Originally Posted by dontworrybehappy View Post
    Me thinks you need to read the entire thread, instead of just masturbating at the ones in favor of Obama.

    Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low | ZeroHedge
    Methinks you need to actually check the real numbers instead of masturbating at the ridiculous statistical spin from a blog which doesn't bother to cite its original source and whose assertions aren't being corroborated by the actual numbers.

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