Saturday 4 February 2012

Unemployment in US is down, but so is employment

We really do live in a weird world!
I am not sure quite how to compare the rosy story from Reuters with this Zero Hedge story from earlier in the day, or with this....




Perhaps they've found a way of measuring unemployment that does not include those 'not participating in work'!?








Nasdaq vaults to 11-year high on surge in jobs
A surge in hiring in the world's largest economy last month drove the Nasdaq to an 11-year high on Friday as optimism grew that the labor market is on a steady path to recovery.


3 February, 2012

The broad-based gains on solid trading volume also sent the Dow Jones industrial average near a four-year high. The S&P 500 extended its 2012 advance to about 7 percent and was at its highest level in more than six months.

The U.S. economy created jobs at the fastest pace in nine months in January and the unemployment rate dropped to nearly a three-year low of 8.3 percent, the government said.

For article GO HERE

P.S. It would seem that I am not the only one who has noticed this discrepancy.  Unemployment has dropped because of the number of people dropping out of the labor force.


"Mish" Shedlock discusses this HERE


This is what Alyona Minkovsky of RT has to say..




43% of Unemployed out of Work 6+ Months
Alyona Show, RT

Jobs numbers were released today for the month of January and compared to what we've seen in the last few years, the signs are pretty positive. Official unemployment fell to 8.3% the lowest since February of 2009. But long term unemployment remains a major issue, with the share of the jobless who have been out of work for more than 6 months at 43% and 1.2 million people dropped out of the labor force in just the past month. Campaign For America's Future's Richard Eskow breaks it all down.



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