Obama media lies on September jobs report, Election year spin hides horrible jobs situation and economy, Janet Yellen questions job strength, Federal Reserve publishes labor market conditions index

Obama media lies on September jobs report, Election year spin hides horrible jobs situation and economy, Janet Yellen questions job strength, Federal Reserve publishes labor market conditions index

“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.” …James Pethokoukis, American Enterprise Institute, June 2013

“Approximately 1 million more people could only find part time employment since Obama took office in January 2009.”…Citizen Wells August 2013

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

If you are making investment decisions based on what you are reading in the mainstream media, you had better read the following.

The normal pro Obama media has outdone itself.

Why?

It is an election year and Obama is in trouble.

The recent stated unemployment rate of 5.9 percent was compared as the best since 2008.

What they did not tell you is the following reported at Citizen Wells on October 3, 2014.

“There were 315,000 more people not in the labor force in September. That is far more than the 248,000 jobs that were added.

The labor force participation rate at 62.7 percent is 3 percent higher than when Obama took office.

They are comparing the current unemployment rate to 2008. The rate was 5.8 percent in July 2008. However, the participation rate then was 66.1 percent.

That is 3.4 percent higher than today.

You do the math!

Also, there were 45,000 more people in September , not in the labor force who want a jobs now.

And don’t forget this from the Labor Dept.

“The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed in September at 7.1 million. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job.”

https://citizenwells.wordpress.com/2014/10/03/september-unemployment-rate-lowest-since-2008-248k-jobs-added-truth-is-more-people-dropped-out-of-labor-force-than-jobs-added-participation-rate-down-3-percent-since-jan-2009-excessive-part-time/

That is bad enough.

But it gets worse.

Straight from the US Labor Dept.

The unemployment rate for blacks is 11 percent. It was 10 percent in July 2008.

The lowest labor force participation rate during the 8 years of George Bush was 65.8 percent.

It is currently 62.7 percent with this great Obama economy.

The highest number of people unemployed over 27 weeks during the 8 years of George Bush was 2,610,000.

The highest number under Obama was 6,770,000. It is currently 2,954,000 and would be higher if so many people had not dropped out of the labor force.

When Obama took office in January 2009 there were 5,708,000 million people not in the labor force who want a job now. There are currently 6,349,000 people in that category.

There are 12 million more people not in the labor force than when Obama took office in 2009.

From the Greensboro News Record October 3, 2014.

“For example, there were 7.1 million people working part-time jobs last month even though they would prefer full-time work. That figure is up from just 4.6 million before the recession.

And there are 3 million people who have been out of work for more than six months. That figure has declined steadily in the past three years but is still more than double its precession total.”

Read more:

http://www.news-record.com/news/u-s-jobless-rate-falls-to–year-low-of/article_d51fda54-4b05-11e4-b8be-001a4bcf6878.html?TNNoMobile

Janet Yellen has been raising concerns about the validity of the jobs data for months.

From Market Watch October 1, 2014.

“Starting next week, a new indicator may roil the markets

The Federal Reserve will publish a new monthly gauge of the health of the labor market, called the labor market conditions index, beginning next Monday, the central bank announced Wednesday.

The report is an attempt to dig deeper into labor market trends beyond the standard monthly unemployment rate measure.

Fed Chairwoman Janet Yellen and her allies have argued that the improvement in the unemployment rate over the past year has overstated the strength of the labor market. How much slack remains in the economy is a key factor in how patient the central bank can be before lifting off short-term interest rates from zero.”

Read More:

http://blogs.marketwatch.com/capitolreport/2014/10/01/starting-next-week-a-new-indicator-may-roil-the-markets/

From “1984” by George Orwell.

“But actually, he thought as he re-adjusted the Ministry of Plenty’s figures, it was not even forgery. It was merely the substitution of one piece of nonsense for another. Most of the material that you were dealing with had no connexion with anything in the real world, not even the kind of connexion that is contained in a direct lie. Statistics were just as much a fantasy in their original version as in their rectified version. A great deal of the time you were expected to make them up out of your head. For example, the Ministry of Plenty’s forecast had estimated the output of boots for the quarter at one-hundred-and-forty-five million pairs. The actual output was given as sixty-two millions. Winston, however, in rewriting the forecast, marked the figure down to fifty-seven millions, so as to allow for the usual claim that the quota had been overfulfilled. In any case, sixty-two millions was no nearer the truth than fifty-seven millions, or than one-hundred-and-forty-five millions. Very likely no boots had been produced at all. Likelier still, nobody knew how many had been produced, much less cared. All one knew was that every quarter astronomical numbers of boots were produced on paper, while perhaps half the population of Oceania went barefoot. And so it was with every class of recorded fact, great or small. Everything faded away into a shadow-world in which, finally, even the date of the year had become uncertain.”

 

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35 responses to “Obama media lies on September jobs report, Election year spin hides horrible jobs situation and economy, Janet Yellen questions job strength, Federal Reserve publishes labor market conditions index

  1. citizenwells

    “And you shall know the truth, and the truth shall set you free.”…Jesus, John 8:32

  2. citizenwells…..good morning

    Change number 1….change SHALL to read SHOULD

    “And you shall know the truth and the truth SHOULD set you free”.
    the Book of Eli

  3. The Wisdom of our Commander-in-Chief…..

    As his former minister said….”God Damn his soul;”…..or was that “God Damn America”? ……..Seems I have had a lapse of memory…..

  4. citizenwells

    “Updating the Labor Market Conditions Index

    In our recent FEDS Note, Assessing the Change in Labor Market Conditions (May 22, 2014), we introduced a new tool, the labor market conditions index (LMCI), which we found to be useful for assessing changes in labor market conditions.1 The LMCI is derived from a dynamic factor model that extracts the primary common variation from 19 labor market indicators. (See Table 1 in that Note for a list of the indicators.)
    Starting this Monday, October 6th, we will provide updated estimates of the LMCI every month. In general, we will endeavor to have the updated series posted sometime after 10:00 a.m. on the first business day following the Bureau of Labor Statistics’ monthly Employment Situation report. (You can find the release schedule here.) Of course, because the LMCI is a staff research product and not an official statistical release, it is subject to delay, revision, or methodological changes without advance notice.2
    Although we will not write a new FEDS Note each month, the latest estimate of the LMCI will be posted as a comma-separated values (CSV) file at the permanent URL http://www.federalreserve.gov/econresdata/notes/feds-notes/2014/files/lmci_feds.csv. This coming Monday, the series available at the link will be the model’s estimate of the change in labor market conditions through September, given data available through October 3rd. (Until then, the link will point to the LMCI estimate from our May 22 Note.)
    Going forward, users of the LMCI should take note that the entire history of the LMCI may revise each month. Three sources contribute to such revisions. The first source is new data that were not available at the time of the employment report. In particular, at the time of the Employment Situation report each month, the quit rate and hiring rate will be missing for the last two months of the sample because the Job Openings and Labor Turnover Survey is published with a longer lag than the model’s other indicators. In subsequent months, as these data become available, the LMCI will revise.
    The second source of revision comes from revisions to existing data. Many labor market indicators are subject to revision as additional source data become available or to incorporate annual benchmark revisions or updated seasonal adjustment factors. Prominent examples in the LMCI include the three payroll employment series from the Current Employment Statistics program.
    The third source of revision is inherent to the model. The LMCI is derived from the Kalman smoother, meaning that the estimate of the index in any particular month is the model’s best assessment given all past and future observations. Thus, when a new month of data is added to the sample, the model will revise its estimate of history in response to the new information. In practice, these revisions tend to be modest and concentrated in the most-recent six months of the sample.”

    http://www.federalreserve.gov/econresdata/notes/feds-notes/2014/updating-the-labor-market-conditions-index-20141001.html

  5. citizenwells

    “Don’t expect the trend toward retiring at older ages to stop any time soon.

    That’s the conclusion of a new survey of over 4,200 full-time U.S. workers by consulting firm TowersWatson. On the whole, the survey is pessimistic about the trend, which in today’s lackluster job market is impeding job “opportunities for the young.” It also has a downside for employers: Many people who are delaying retirement are less healthy, more stressed, and more likely to be disengaged from their jobs, according to the survey.

    “The concern for employers is that this creates a productivity drag,” says Steve Nyce, a senior economist at TowersWatson.

    First, the specifics. According to Census Bureau data, labor force participation rates for older men have risen steadily over the past 25 years. Among men ages 65 and over, for example, 24% are now in the workforce, up from 17% in 1990. For those ages 55 to 64, 70% have jobs or are looking for work, up from 67% in 1990. Meanwhile, younger men are experiencing the opposite: For 25 to 54 year olds, labor force participation rates have declined from 93% in 1990 to 88% today. (The trends for women are the same.)”

    http://blogs.marketwatch.com/encore/2014/09/30/older-workers-clog-the-employment-pipeline/

    Compare this to the Obama protecting media trying to blame workers retiring for the drop in the labor force.

  6. HaHa!
    Talk about retiring, I see lots of men in their seventies working as baggers in the super markets here, and this city has a lot of affluent retirees.

    I’ll soon be eighty-one and am still working, too, although not the heavy load carried previously. Work is good for the body and soul, but it shouldn’t be a necessity because of poor economic conditions in the country.

  7. MortimerGarfinkle

    That’s what the 25-35 year-olds voted for when they voted for Obama. They don’t want to really work. They’re only interested if the job is fun, pays well, has a really cool boss who doesn’t hassle them and doesn’t interfere with their self-indulgent hedonism. They elected Obama to take from the older working class via higher taxes and give them free services and free stuff. Why did Obama have the federal government take over student loans? Because he expected many of his supporters to attend college and party for four years while learning nothing (except liberal progressive orthodoxy), then default on the debt because they can’t get a job. A four year vacation at taxpayer expense. What they don’t realize is that the free stuff that Obama is handing out is being placed on their credit card. Wait a few years when they find out they are responsible for that debt. That’s when the party’s over. That’s when reality will set in.

  8. RMinNC | October 5, 2014 at 8:38 am |
    citizenwells…..good morning

    Change number 1….change SHALL to read SHOULD

    “And you shall know the truth and the truth SHOULD set you free”.
    the Book of Eli
    **********************
    RM, glad that you were okay and having an enjoyable pie session last eve. (prior thread).
    Re. your above post, why would you want to change the words of the Lord Jesus Christ? Seriously, if one knows the truth (Jesus said, “I am the Way, the Truth and the Life”), i.e., if one truly knows Jesus, that one SHALL be set free. Of course, we use that verse in different ways to illustrate the power of truth, and not everyone will believe. That is probably what you wanted to point out. Right?

  9. CABBYAZ…..

    that was not the intent of my post…..

    ps…the pie was good.

  10. I very seldom agree with the Russian president, Vladimir Putin….but this is one time I completely agree with him…. ….

    .
    This is one time our elected leaders should pay attention to the advice of Vladimir Putin.

    I would suggest that not only our leaders but every citizen of USA should pay attention to this advice. How scary is that? It is a sad day when a Communist makes more sense than our LEADERS but here it is !!!!

    Vladimir Putin’s speech –

    SHORTEST SPEECH EVER.
    On August 04, 2013, Vladimir Putin, the Russian president, addressed the Duma, (Russian Parliament), and gave a speech about the tensions with minorities in Russia:

    ” In Russia, live like Russians. Any minority, from anywhere, if it wants to live in Russia, to work and eat in Russia, it should speak Russian, and should respect the Russian laws. If they prefer Sharia Law, and live the life of Muslim’s then we advise them to go to those places where that’s the state law.

    Russia does not need Muslim minorities. Minorities need Russia, and we will not grant them special privileges, or try to change our laws to fit their desires, no matter how loud they yell ‘discrimination’.

    We will not tolerate disrespect of our Russian culture. We better learn from the suicides of America, England, Holland and France, if we are to survive as a nation.

    The Muslims are taking over those countries and they will not take over Russia. The Russian customs and traditions are not compatible with the lack of culture or the primitive ways of Sharia Law and Muslims.

    When this honorable legislative body thinks of creating new laws, it should have in mind the Russian national interest first, observing that the Muslims Minorities Are Not Russians.”

    The politicians in the Duma gave Putin a five minute standing ovation.

    If you keep this to yourself,….then you are part of the problem!

  11. This is a good one to watch.
    Three things you need to know about Islam!!!!

    Watch to the end….(skip ad)

  12. EBOLA ROLLS OUT EXACTLY AS SCRIPTED…..

    This is one of the best info videos I have seen about Ebola…..

    Of equal importance is how Mr. Obama presents himself……Pay very close attention to Bummer’s hard at the following minute/second marks in the video;
    4:12….4:18….4:38 and 8:03

    His head shows severe signs of being carved up worse than a fresh garden pumpkin on pot-smoking Halloween, using very dull knives …….

    It has always been rumored he had some kind of operations on his head as a teenager in Hawaii …these very clear video shots prove it BEYOND ANY REASONABLE DOUBT……

    Now the questions to be answered are….when….where….why….and who…. did the poor job of carving little Barry’s noggin? !!!

    Doesn’t the American people have a right to know what caused these injuries? After all, this man/child is carrying walking around in a meth induced dream stage with the nuke football under his arm….if he is MENTALLY UNSTABLE……he can create a whole sh*t storm of trouble that everyone else may not be able to clean up.

    What say you?

  13. sorry…hard should have read HEAD….

  14. citizenwells

    “New Jersey boy’s death is 1st linked directly to enterovirus”

    “A New Jersey boy who went to bed last month in seemingly good health and died in his sleep is the first fatality linked directly to a strain of enterovirus that has infected more than 500 people, CNN reported, citing a local medical official.
    The 4-year-old boy, identified by ABC News as Eli Waller of Hamilton Township, about 20 miles west of Atlantic City, never awoke after going to sleep on the night of Sept. 24, Hamilton Township Health Officer Jeff Plunkett said, according to CNN.
    Waller’s cause of death was determined to be Enterovirus D68 (EV-D68), CNN reported, citing Plunkett.”

    http://www.srnnews.com/new-jersey-boys-death-is-1st-linked-directly-to-enterovirus-cnn/

  15. RMinNC | October 5, 2014 at 1:38 pm |
    I very seldom agree with the Russian president, Vladimir Putin….but this is one time I completely agree with him…. ….
    ****************************************
    Wouldn’t it be great if those words came from our W.H.? One can dream. Putin has it exactly right; after all, he knows first hand what some of the former Soviet Union republics full of Muslims can do in the way of terrorism.

  16. citizenwells

    “Full-Time Jobs

    There is only one chart of employment that truly matters: the number of full-time employees relative to the working age population. Full-time employment is what ultimately drives economic growth, pays wages that will support household formation and fuels higher levels of government revenue from taxes. If the economy were truly beginning to recover, we should be witnessing an increasing number of full-time employees. Unfortunately, that has not been the case as this measure, as shown by the chart below, is only slightly off the lows witnessed during the financial crisis.”

    http://www.zerohedge.com/news/2014-10-04/obamas-economic-recovery-pictures

  17. Those scars are very prevalent SO often. Even when he appears at the State of the Union addresses, they are very visible. There is a reason why all of his medical records are sealed.

  18. CW,
    That is the best chart yet! The regime’s dancing around on new jobs numbers, reduced unemployment, etc., are meant to confuse and muddy the situation.

    It burns me up when even Fox business experts don’t punch holes in the so-called reduced unemployment. Oh, a few do feebly say that there are a number who have quit looking for work, but they do not convincingly present the case.

    I’m going to hit a few of them with e-mails on this great comparison. Thanks, as always, for your persistent work in finding the truth.

  19. citizenwells

    Cabbyaz.
    I am constantly hearing so called news reports such as on the local radio station that carries Beck, Rush & Sean regurgitate the Orwellian spin on jobs.
    I wish that these people would do their damn jobs!

  20. citizenwells

    You no doubt have read and heard the mental midgets try to cover for Obama by explaining part of the labor force dropouts as caused by retiring baby boomers.
    I will soon blow that out of the water again.

  21. citizenwells | October 5, 2014 at 2:55 pm |
    **************************
    CW,
    Overlay a graph on your graph in the article, showing democrat versus republican controlled house of representatives, and it will show growth when republicans were in power, and decline for democrats when they were in control. Look at the decline starting in 2007 when Pelosi and crew took control.

  22. Citizenwells | October 5, 2014 at 3:14 pm |
    You no doubt have read and heard the mental midgets try to cover for Obama by explaining part of the labor force dropouts as caused by retiring baby boomers.
    I will soon blow that out of the water again.
    *****************************************
    CW, that argument could be countered by the fact that many more of the retirees are again in employment – some in full-time. It will be interesting to see your full exposure on these “mental midgets”. Gotta love that one!

  23. So far I only got to send the graph to Cavuto – Fox Business, but he got a double-whammy, because I forgot to put my name on the first transmission. Who on Fox News would be good? How about all of these – Megyn Kelly, Hannity and ? Suggestions?

  24. bob strauss | October 5, 2014 at 3:48 pm |

    Bob, you are so right about the nosedive when Dems are in control of Congress. They kill everything that’s good.

  25. Was Obama’s Data Compromised in Massive JPMorgan Security Breach?

    JPMorgan Chase & Co. declined to say whether or not President Barack Obama’s personal data was compromised in a massive security breach made public Thursday.

    Obama reportedly held one of the bank’s credit cards as late as July.

    Nevertheless, company spokesman Darin Oduyoye told Business Insider the company was “not commenting” on the matter.

    …As Business Insider noted, a White House pool report from July said Obama used his “JPMorgan card” to make a purchase at a barbecue restaurant in Texas.

    The New York-based bank said Thursday that customer information including names, addresses, phone numbers and email addresses were stolen in the cyberattack.

    However, JPMorgan says there’s no evidence that the data breach included customers’ account numbers, passwords, Social Security numbers or dates of birth.

    JPMorgan Chase, the nation’s biggest bank by assets, has been working with law enforcement officials to investigate the cyberattack.

    http://www.theblaze.com/stories/2014/10/02/was-obamas-data-compromised-in-massive-jpmorgan-security-breach/

    Read elsewhere that Russian hackers are thought to be behind the cyber attack.

  26. Gillar Speaks: Sheriff Arpaio’s Lead Obama Investigator Unloads; CDC Confirmed 9 Race Code

    Pretty hard-hitting interview with some details never heard before… I compiled some of the more noteworthy portions;

    http://www.birtherreport.com/2014/10/gillar-speaks-sheriff-arpaios-lead.html

  27. Observer | October 5, 2014 at 5:30 pm |
    **********************
    Observer,
    All of the usurpers ID info is BS anyway, maybe after this security breach he can adopt a new identity to go with his new card.

  28. RMINNC
    Re 1:38PM
    Putin certainly got it right didn’t he! Like you I couldn’t agree with him more.

  29. I heard this Dr. Anthony Fauci , the director of the National Institute of Infectious Diseases, on Fox News Sunday. He and other government spokesmen must have been given talking points from the W.H., because they all seem to have certain phrases and ideas that are the same or similar.

    Remember Benghazi and all of the Sun. morning talk shows parroting the same thing? We are seeing the same type of responses with this potential crisis.

    Ebola Bioterror Attack?

    http://conservativebyte.com/2014/10/ebola-bioterror-attack/

  30. Bad news CW and CWers; it was only a matter of time:

    http://www.globalpost.com/dispatch/news/xinhua-news-agency/141005/1st-ld-writethru-deadly-marburg-hemorrhagic-fever-breaks-out

    Ebola and Marburg; known as the deadly twins.

    Waiting for Barack Obola to welcome sick Ugandans into America for ‘treatment’. This guy’s gotta go. And fast.

  31. CW…….If the outbreak is truly Marburg,there would be a 50% increase in the chances of the people in ISIS coming down with it or Ebola. Since ISIS doesn’t have specialised care for their ill fighters,they will begin dying off possibly faster than they can recruit them,and in addition all of the slimey little American creeps who decided to become traitors to America will all be crying for their MOMMIES to come and save them. They think they are BADA$$ES now we let them STAY WHERE THEY ARE,AND WHINE! They made their choice. HAR HAR. While Uganda is a long way from Iraq,and Syria there is a strong probability that there ARE Ugandans joining them. Just as there are Americans joining them. There is also a equally strong possibility that EBOLA will soon appear among ALL the ISIS scumbags.

  32. CabbyAZ….
    ……I would venture to guess that there is PROBABLY a dress rehearsal of everything, and anything that originates from the WACKEY HOUSE. That is probably why everybody says virtually the SAME thing even using the same words. You don’t have to be Einstein to see through that sort of MANURE. Hell they probably even have Choreographic WORD TWISTERS to write the scripts. RIGHT OUT OF HOLLYWOOD!(FANTASY LAND).

  33. Has anyone been wondering why the Ebola appeared in Western Africa first? Maybe there truly is ongoing DIVINE INTERVENTION taking place. When God cleans house,unfortunately it effects ALL PEOPLE. Hasn’t the people of that continent been some of the worst offenders of God’s laws? AND NOW IT IS ANTE UP TIME!.

  34. BYE BYE………..Have a great day!

  35. Tonight on Sun Nite Football Subway presented a bacon commercial that was brilliant. They are taking advantage of our subconscious fear of Islamic terrorism and increasing our appreciation of bacon as a expression of freedom. I may just have to go there!

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