Real U-3 Unemployment Rate: 11.6% + People Not In Labor Force Soar By 522,000, LFP lowest since 1981

[stockholmer]

http://www.zerohedge.com/news/real-u-3-unemployment-rate-116

Propaganda unemployment rate: 8.1%; Real unemployment rate: 11.6%. Reason for difference: organic growth of labor force which grows alongside the broader population. Don't be confused by cheap explanations on TV why the labor force should be declining (especially with ZIRP meaning pre-retirement workers have to stay in the labor force ever longer to supplant their meager fixed income): the widely accepted definition of the labor pool, that used by the CBO and all other government forecasting agencies, assumes a 90,000 growth in the labor force every month as it has to keep in line with the growth of the US population!

The implication is simple: using a real labor force participation rate long-term average of 65.8%, the real unemployment rate in April was 11.6%, based on the 5.4 million additional workers that should be counted as part of the U-3 which then means that the real number of unemployed is not 12.5 million but 17.9 million, which in turn implies a 11.6% unemployment rate in the US. This also means that the spread between the propaganda, and the real number is now 3.5%: the most it has been since the early 1980s.



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http://www.zerohedge.com/news/people-not-labor-force-soar-522000-labor-force-participation-rate-lowest-1981

People Not In Labor Force Soar By 522,000, Labor Force Participation Rate Lowest Since 1981

it is just getting sad now. In April the number of people not in the labor force rose by a whopping 522,000 from 87,897,000 to
88,419,000. This is the highest on record. The flip side, and the reason why the unemployment dropped to 8.1% is that the labor force participation rate just dipped to a new 30 year low of 64.3%.

Labor force participation Rate:





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St. Louis Fed's "Not In Labor Force" Data Is Now Officially Off The Chart

http://www.zerohedge.com/news/its-official-st-louis-feds-not-labor-force-data-officially-chart

The comedy continues: the April "Not in labor force" seasonally adjusted print: 88,419,000. http://bls.gov/news.release/empsit.t01.htm And yet, the maximum reading permitted by St Louis Fed Not in Labor Force (LNS15000000) graph: 88,000,000. The data has now officially dropped off the chart. No further commentary necessary:



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The Two Scariest Charts From Today's NFP Report, Or The Real "New Part-Time Normal"

http://www.zerohedge.com/news/two-scariest-charts-todays-nfp-report-or-real-new-part-time-normal

Back in February Zero Hedge was first to point out http://www.zerohedge.com/news/quality-assessment-us-jobs-reveals-ugliest-picture-yet that while jobs may be growing (modestly) and the unemployment rate declining (rapidly, on the back of all those leaving the labor force), it was the quality of jobs that was troubling. Indeed, as today's NFP report once again showed, the average hourly earnings http://bls.gov/news.release/empsit.b.htm barely budged at $23.38 from $23.37 last month, and in fact declined on an inflation-adjusted basis. Why? Because as we predicted both in February (and in 2010) http://www.zerohedge.com/article/charting-americas-transformation-part-time-worker-society-following-6-straight-months-full-t the US is increasingly becoming a population of part-time workers, as full time jobs disappear for good, and are offshored abroad at best. April confirmed everything we had been warning about: in the month, full time jobs dropped to 114,478 from 115,290, an epic drop of 812,000 in full time jobs which was the biggest since... March 2009! The offset? Why a surge in part-time jobs of course, which increased by 508,000 in the month of April. So while seasonally adjusted, birth/death recasted jobs may have increased by 115,000, the real quality jobs, imploded, which unfortunately is merely a part of a longer-term secular trend as part of the new part-time normal.

Full-time jobs and sequential change (full time): http://research.stlouisfed.org/fred2/series/LNS12500000



Part-time jobs and sequential change (source): http://research.stlouisfed.org/fred2/graph/?chart_type=line&s[1][id]=LNS12600000&s[1][range]=5yrs



And a longer-term view:



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MARKETS TANKING AFTER BAD JOBS REPORT, DOW OFF 135



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A few more of these horrid jobs reports and QE3 will be on the way, which will smash the US dollar downward.

[MannyGoldstein]

1. Democratic leaders have a multi-part plan for this

Austerity and catfood for the 99%, move further to the right, blame Republicans, shrug shoulders and chant "nothing can be done".

[stockholmer]

2. the chanting of "nothing can be done" combined with lives lived in the quiet desperation of vastly

diminished upwardly mobility are the building blocks of the systemic controller's agenda. Neo-feudalism is the game, played out at hyper complex modalities of manipulation in the arenas of finance, geo-political wars, advertising/propaganda, mass culture/propaganda, police state monitoring, technology, etc.

divide et impera

[lovuian]

3. We are in a depression Economics 101

when 1% own all the assets of a country and the 99% don't
You get a Depression and then a Revolution
The US workers are being exploited

[MjolnirTime]

4. did you just wet your pants a bit, Chicken Little?

[Egalitarian Thug]

5. Can't dispute the point nor the evidence, so ridicule the poster...

How very DU of you.

[stockholmer]

6. the only thing getting soaked will be those who do not invest in a good lifeboat (metaphysically)

This is a controlled demolition, deeply planned and played out over the sweep of decades. Unfortunately, willful ignorance will not allow for a lessening in the sting of its lash.

Instead of Henny Penny, perhaps you will indulge me to suggest another homespun tale:

[ProSense]

7. This stuff is

complete nonsense.

Zero Hedge spends all its time misrepresenting the numbers.

http://www.democraticunderground.com/1002265192

More facts: http://www.democraticunderground.com/?com=view_post&forum=1002&pid=644389

[Capt. Obvious]

8. I miss Robert Gibbs

[stockholmer]

9. ridiculous

[ProSense]

10. What?

I tried to limit it to a two-inch rebuttal unlike the massive misinformation dump in the OP.