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And now, folks, the other shoe. 540,000 people dropped from the Labor Force. So you see, it is all a big LIE, 'cause Obama is a big LIAR, and those who support him are huge FOOLS.
Yep, it's the classic u3 vs u6 that people love to gloss over to call people BITTER...no reason to be bitter when choose truth over delusion.
For those who are concerned that U3 rate isn't accurately reflecting the true employment situation, you can also look at the broader U6 rate which also declined by .2% in November 2012. The U6 rate is now just .2% higher than January 2009.
Labor force participation is lower in 2012 then it has been for 30 years. The economy is getting so bad that even the U6 is not showing how bad things are now.
The Labor Department statistics had some puzzling contradictions, particularly in the assertion that Sandy "did not substantively impact" the jobs count for November, and in considerable downward revisions from previous months.
Also, the drop in the unemployment rate appeared to reflect little more than a continued exodus of workers from the labor force.
The labor force participation rate, already around 30-year lows, fell further in the month to 63.6 percent. That represented 350,000 fewer workers. In all, there were a net 122,000 fewer people with jobs.
The Bureau of Labor Statistics measures employment and unemployment (of those over 15 years of age) using two different labour force surveys[33] conducted by the United States Census Bureau (within the United States Department of Commerce) and/or the Bureau of Labor Statistics (within the United States Department of Labor) that gather employment statistics monthly. The Current Population Survey (CPS), or "Household Survey", conducts a survey based on a sample of 60,000 households. This Survey measures the unemployment rate based on the ILO definition.[34] The Current Employment Statistics survey (CES), or "Payroll Survey", conducts a survey based on a sample of 160,000 businesses and government agencies that represent 400,000 individual employers.[35] This survey measures only nonagricultural, nonsupervisory employment; thus, it does not calculate an unemployment rate, and it differs from the ILO unemployment rate definition. These two sources have different classification criteria, and usually produce differing results. Additional data are also available from the government, such as the unemployment insurance weekly claims report available from the Office of Workforce Security, within the U.S. Department of Labor Employment & Training Administration.[36] The Bureau of Labor Statistics provides up-to-date numbers via a PDF linked here.[37] The BLS also provides a readable concise current Employment Situation Summary, updated monthly.[38]
U1–U6 from 1950–2010, as reported by the Bureau of Labor Statistics
The Bureau of Labor Statistics also calculates six alternate measures of unemployment, U1 through U6, that measure different aspects of unemployment:[39]
U1:[40] Percentage of labor force unemployed 15 weeks or longer.
U2: Percentage of labor force who lost jobs or completed temporary work.
U3: Official unemployment rate per the ILO definition occurs when people are without jobs and they have actively looked for work within the past four weeks.[1]
U4: U3 + "discouraged workers", or those who have stopped looking for work because current economic conditions make them believe that no work is available for them.
U5: U4 + other "marginally attached workers", or "loosely attached workers", or those who "would like" and are able to work, but have not looked for work recently.
U6: U5 + Part-time workers who want to work full-time, but cannot due to economic reasons (underemployment).
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