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The Hidden Rot in the Jobs Numbers
Wall Street Journal, by Edward P. Lazear

Original Article

Posted By:Desert Fox, 3/17/2014 1:02:09 AM

Most commentators viewed the February jobs report released on March 7 as good news, indicating that the labor market is on a favorable growth path. A more careful reading shows that employment actually fell—as it has in four out of the past six months and in more than one-third of the months during the past two years. Although it is often overlooked, a key statistic for understanding the labor market is the length of the average workweek. Small changes in the average workweek imply large changes in total hours worked. The average workweek in the U.S. has fallen to 34.2

      


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Reply 1 - Posted by: woofwoofwoof, 3/17/2014 1:13:55 AM     (No. 9771741)

Hidden from whom?

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Reply 2 - Posted by: miceal, 3/17/2014 1:17:45 AM     (No. 9771744)

God forbid these people should actually put out true numbers. Covering for the incompetent in the White House is really getting tedious...

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Reply 3 - Posted by: JediJerry, 3/17/2014 2:37:17 AM     (No. 9771765)

For the left wing Marxist Democrats they don´t think of it as rot, but as a tremendous success in their efforts to de-grow the economy. They do not want job and economic growth. They are internationally causing job losses, reduction in income, raises in the cost of goods and services. Remember the words of their good friend Ernest Hollings: "Too much consuming going on out there.". There is too much because it is unfair to ther poor people in the other countries in the world. Our Golfer in Chief said: " we have 5% of the world´s population, but consume 26% of the world´s energy.". Again there´s way to much consuming going on, and they way to stop that is to reduce the amount of disposable income in peoples pockets. Look at the cost of gasoline, electricity, food, and every other cost of things we buy and pay for on a daily basis, and over the last 5 years those prices have necessarily skyrocket. This is the main push of the fundamental transformation of this country we were promised. Anyone out there happy about it? When November gets here, whatcha gonna do about it? You going to keep voting Democrat? You going to keep electing the likes of McCain, Snowe, Graham, McConnell, Boehner, and the other rollover French Republicrats out there, or are you going to think long and hard about the future of this country, your future, and the future of your kids and grand children? Well? Attention all hands. Man your battle stations. This is not a drill.

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Reply 4 - Posted by: Timber Queen, 3/17/2014 4:08:12 AM     (No. 9771795)

Ditto #3

Wait a few weeks and the March 7th report will be revised and the "experts" will be surprised.



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Reply 5 - Posted by: Trigger2, 3/17/2014 6:39:32 AM     (No. 9771833)

The other rot is the manipulation in dropping the unemployed from U2 who have given up looking for work.

Barry is the food stamp president.
Barry is the job destroyer president.
Barry is economically illiterate president.
Etc., etc.

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Reply 6 - Posted by: suziesuburbanite, 3/17/2014 7:31:53 AM     (No. 9771856)

And the Oconomy keeps on chugging along - sigh

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Reply 7 - Posted by: planetgeo, 3/17/2014 7:49:16 AM     (No. 9771875)

It´s actually due to a new field of study called "Creative Mathematics and Statistical Justice." It´s founding premise is: What do you need 2+2 to equal this month?

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Reply 8 - Posted by: horacer, 3/17/2014 7:50:42 AM     (No. 9771877)

We´ve been conditioned to accept spin and ignore analysis. Government reports and the media reporting of such reports fit perfectly into this conditioning. It´s become frightening with Obama in the WH.

As bad as the recent drop in average hours worked is the true hidden disasters are with young workers and males 25-54. We´re down millions of full time jobs for males in that latter group. The consequences go far beyond economic.

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Reply 9 - Posted by: bubby, 3/17/2014 8:00:06 AM     (No. 9771888)

In theory if they keep adjusting the labor participation rate we could have employment at 100% and no one working! That´s how absurd these job numbers are and like #3 said that´s what the Democrats want. The fewer people working the more people need the Federal teat. The problem is as Maggie Thatcher explained eventually socialism runs out of other people´s money.

Now all that is needed is for the elite GOP and Rinos to pass amnesty and give the Democrats 20-30 million new voters (Paul Ryan is working hard to get it done)!/s

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Reply 10 - Posted by: mizzmac, 3/17/2014 8:05:08 AM     (No. 9771894)

I look with suspicion at the lies disguised as data coming from every Federal agency these days. The government and its agencies are being co-opted as propaganda machines for a failing administration at the behest of its Liar-in-Chief. (When they´re not being used outright as weapons.)

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Reply 11 - Posted by: shamus, 3/17/2014 8:18:20 AM     (No. 9771913)

Slacker president doesn´t like work.

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Reply 12 - Posted by: mnwxyz, 3/17/2014 8:23:03 AM     (No. 9771920)

RE: "but the economy keeps chugging along":

True, but as Macbeth said, "We sleep here tonight!.... (aside) but where tomorrow?"



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Reply 13 - Posted by: MattMusson, 3/17/2014 9:05:54 AM     (No. 9771993)

The Entire executive branch is staffed by lifelong liberal Democrats (with the exception of the Military). This explains why the BLS numbers are fudged and presented in the best light possible.

It also explains why the IRS hunts down conservatives for sport. And, why the Department of Energy hates energy. And, why the EPA hates business. And, why armed Park Service Members barrycaded veterans from their own memorial.

Even a GOP president will have little impact on this Civil Service Cancer.

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Reply 14 - Posted by: Hugh Akston, 3/17/2014 9:11:18 AM     (No. 9771998)

We´re down millions of full time jobs for males in that latter group. The consequences go far beyond economic.

This is what got me to click the ´like´ in #8´s comment.

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Reply 15 - Posted by: joew9, 3/17/2014 9:30:23 AM     (No. 9772036)

The Wall Street Journal had a tradition of no pictures. Just pencil drawings of peoples faces. The web page has many color pictures. It´s just not classy.

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Reply 16 - Posted by: Arby, 3/17/2014 10:03:23 AM     (No. 9772083)

This is not news. ´News´ will be when Fauxbama actually cares about our economy and the loss of jobs. The big question is, what, actually, does he care about? Moochelle´s vacations. Flying on Air Force I. Giving speeches to adoring lo-fo´s. Planning his mansion in Hawaii. Meeting with Beyonce and Jay-Z. (Or is it J-Zee? And why should I care about a former drug dealer?)

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Reply 17 - Posted by: jglas, 3/17/2014 10:52:07 AM     (No. 9772151)

Clever, defining part time work as less than 30 hours and employers not subject to Obamacare for part time workers allows Obama to destroy the economy while growing jobs (or at least not see jobs decline at an alarming rate). Employers fire full time employees and hire even more part time employees to take advantage of the rule. Jobs grow while hours worked decline along with the economy while the employer is off the Obamacare hook. Quote the right statistics and Americans think everything is OK. Is that just an unintended consequence or an intended consequence?

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Reply 18 - Posted by: Tall Oak, 3/17/2014 10:58:26 AM     (No. 9772160)

“Figures don’t lie, liars figure.” – my favorite quote. We have an over-abundance of liars in our government now, and they are well schooled in the art of “spin”. Our educational system avoids teaching how to think because they’re teaching what to think instead.

There isn’t one government agency that I can think of that doesn’t use spin to justify policies that serve their deeper entrenchment over our rights, and yet the public will accept their numbers.

According to the numbers, the economy is showing signs of growth. Common sense would question, why has there been such a massive increase in food stamps, welfare recipients, and disability claims in a growing economy? The answer is that most of the growth is on Wall Street and it was generated by the Fed printing more money. Wall Street is a bipartisan gathering of whores, they cater to both sides and they don’t care how they’re bashed and used as long as they get paid.

I’ll tell you how I gauge the economy, read the help wanted ads in the local paper and look for two things: First the number of listings, which will give you a rough idea. Second, note how many listing request college for a position that never mattered before, that will demonstrate the excessive number of people available that are capable of filling the position.

The truth is, our economy stinks and the liars are doing the figuring.

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Reply 19 - Posted by: nevernaught, 3/17/2014 11:07:55 AM     (No. 9772176)

The last figures I saw from the WSJ were that the actual unemployment figures were 37.2%. Of course the difference is that the government doesn´t include people who have given up looking for work in this worst of all economies.

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Reply 20 - Posted by: MirJoy, 3/17/2014 2:00:02 PM     (No. 9772404)

#5 - Popped in my head that another rot that is pretty serious is:

the rot in the ship of state.

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Reply 21 - Posted by: wsdiego, 3/17/2014 8:54:21 PM     (No. 9772848)

Socialism economics is like a dog chasing its tail around and around! With each cycle the burden just gets heavier until collapse!

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Reply 22 - Posted by: uno, 3/17/2014 9:20:10 PM     (No. 9772866)

#3 - Bingo!
Anything to weaken America is the Øbamboozler´s goal. Drag it down financially, morally and militarily through any means possible, but mostly financial.

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Reply 23 - Posted by: Aria, 3/17/2014 11:16:12 PM     (No. 9772956)

Report from the field - sort of...

I just returned from a horse show in Palm Springs. There was a 1MM Grand Prix sponsored by Lamborghini along with multiple other prizes for a weeks long horse show. There had to be literally billions of dollars both in the VIP areas and the stalls.

The 1% is alive and well.

My conclusion is that Obama and ilk are after the middle class to turn them into the lower class. The 1% will be fawned over by zero ....i.e. zero going to Larry Ellison´s private golf course in Rancho Mirage....while the 99% will be the dumb voters who keep the 1% exempt.

After all....in communist countries didn´t the people at the top live very well while the rest scavanged a pitiful life of equal misery?

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