A few statistical points of interest on the almost unbelievable US employment report with charts


That's 0.6% of the entire labor force
that departed the working population in one month,
three times the alleged drop in the unemployment rate.


...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%


...add these people who the BLS is purposefully ignoring
yet who most certainly are in dire need of labor and/or a job
to the 12.758 million reported unemployed by the BLS
and you get 17.776 million in real unemployed workers.

What does this mean?

...the real unemployment rate actually rose in January to 11.5%.
Compare that with the BLS reported decline from 8.5% to 8.3%.

It also means that the spread
between the reported and implied unemployment rate just soared
to a fresh 30 year high of 3.2%.

And that is how with a calculator and just one minute of math,
one strips away countless hours of BLS propaganda.


...the breakdown between Full Time and Part Time Workers
(defined as those "who usually work less than 35 hours per week").

...In January, the number of Part Time workers rose by 699K,
the most ever,
from 27,040K to 27,739K,
the third highest number in the history of this series.

How about Full time jobs?
They went from 113,765 to 113,845.

An 80K increase.

So the epic January number of 141.6 million employed,
...only about 10 % of that was full time jobs:
...in which employers can't even afford to give their workers
full time employee benefits.

We can't wait for Mr. Liesman to explain how this number, too,
is unadulterated hogwash, and how it too is explained away
to confirm economic strength.

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