Unemployment Figures: Rosy Scenario is a Lyng Slut, and the MSM Pimp Her.

Good News in the January Employment figures : MSNBC Headlines :” Jobless rate drops to lowest level in almost three years.”

The market rises.  Democrats celebrate.  Republicans quake.

Those not too lazy to scroll to the bottom of the page, and click a few links to verify this pablum find something different.

In the second to last  of around twenty paragraphs, the reader finds this:

Even with the January jobs gain, the employment market still faces a long road back to full health. The nation has about 5.6 million fewer jobs than it did when the recession began in late 2007. And there are still 12.8 million people out of work, though that is the fewest since the recession ended. An additional 11 million are either working

part-time but would prefer full-time work, or have stopped searching for jobs.

The article quotes the President as saying there remain, ” too many Americans who need a job.”

He is entirely right on that.  Clicking around the Bureau of Labor Statistics, one finds this under “Employment Situation.”

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.)

For a similarly low employment-populatoin ratios haven’t been seen since the Carter years. 

This chart tells a sorry tale of labor force participation

Series Id: LNS11300000 Seasonally Adjusted Series title: (Seas) Labor Force Participation Rate Labor force status: Civilian labor force participation rate Type of data: Percent or rate Age: 16 years and over

Discourage enough people, and make it easier for those not inclined to work, and indeed the unemployment rate will decline.  While there is little doubt that a Republican administration in a similar pickle would also be crowing, one wonders how the media would be pitching it.

As for the jobs that are being added, I would posit that the improvement reflects the resiliency of the business cycle, which, while distorted by statism, hasn’t been entirely crushed – yet.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s