BLS website (Bureau of Labor Stats) shows the drop in unemployment rate was due to 300,000 people moving from "unemployed" to "Not in labor force". Meaning people gave UP, moved out of the labor force, and now the unemployed number dropped by 300,000, or .2%. Unbelievable that there now are 300,000 fewer people employed yet the unemployment number goes down and stock market rallies?? What a joke. This country is doomed with all the ignorance and media hypes. The U^ unemployment number which accounts for a more realistic number is 15% of population with many that are "EMPLOYED" are actually underpaid and work less than 40 hours! What a disgrace....BUT keep buying stocks...DOW 20,000 by end of year:) LOL
viperlemon, could you tell us where you found that info on the BLS? Here's what I found:
With 236,000 new jobs it seems unlikely that 300,000 people left the labor force.
I'm thinking the number must be lower than that, but maybe you can tell me where
to find the correct information that wasn't in the BLS news release that I saw.
I'll try again to post part of the new release....didn't work the first time.......
Total nonfarm payroll employment increased by 236,000 in February, and the
unemployment rate edged down to 7.7 percent, the U.S. Bureau of Labor
Statistics reported today. Employment increased in professional and business
services, construction, and health care.
In February, the number of long-term unemployed (those jobless for 27 weeks
or more) was about unchanged at 4.8 million. These individuals accounted for
40.2 percent of the unemployed.
In February, 2.6 million persons were marginally attached to the labor force,
the same as a year earlier. (The data are not seasonally adjusted.) These
individuals were not in the labor force, wanted and were available for work,
and had looked for a job sometime in the prior 12 months. They were not
counted as unemployed because they had not searched for work in the 4 weeks
preceding the survey.
Unfortunately the news wasn’t all good, as the nation’s labor participation rate inched back down to 63.5 percent. That equals a three-decade low last reached in August 2012. By contrast, the labor participation rate stood at 65.7 percent when U.S. President Barack Obama took office in January 2009. Also the underemployment rate – a broader, more accurate measure of joblessness – stood at 14.3 percent.
“Incredibly, while the number of jobs created by the private economy continues to grow, the number of people who are abandoning the workplace also continues to accelerate. In February alone, almost 300,000 more workers left the workforce and the percentage of workers in the labor force dropped to its lowest level since 1981 at 63.5 percent.”
Then there’s the issue of part-time versus full-time employment.
“Those who track the quality composition of the jobs, as opposed to just the quantity, will know that the part and full-time jobs breakdown has long been a major issue,” write the authors at ZeroHedge. “In February … the number of full-time jobs declined by 77K from 115,918,000 to 115,841,o00. The offset: a jump in part-time workers which rose from 27,467,000 to 27,569,000 or 102K.”
ZeroHedge also points out that February saw a record increase of 340,000 multiple job-holders …