Sponsored Content
« Reid Out? Report Says That MSNBC's Nasty Racist Lunatic Joy Reid Will Be Fired, For Being Both Dishonest and "Unmanageable" | Main | As Even the Leftwing Media and Political Figures Demand that Teachers Go Back to Work, Teachers Say F*** You -- It's Summer Vacation For Us, Forever »
January 07, 2022

Unexpectedly, Yet Another Disaster of a Month as Far as Jobs Creation
Bloomberg Changes Headline, In Keeping With Brandon's Orders to Spin Bad Economic News In His Favor

No wonder Brandon and the Brandonettes are so determined to change the subject to the Insurrection Olympics Opening Day Ceremony.

The U.S. economy added just 199,000 jobs in December and the unemployment rate fell to 3.9 percent.

Economists had forecast 422,000 jobs and an unemployment rate of 4.1 percent, although this week's report on private payrolls from ADP indicating that the private sector added 807,000 jobs had created some anticipation that the official figure would be higher than the consensus forecast.


In November, traditionally a big month for hiring, the economy added just 249,000 jobs.

Note that the low unemployment rate is driven by the fact that after the lockdowns -- and being paid not to work -- many people have simply exited the workforce and stopped working.

From the 1970s through the turn of the century, there was an almost uninterrupted increase in the labor force participation as more women joined the workforce. During that period, it rose from a low of roughly 60% to an all-time high of 67.3% in the first quarter of 2000.

From the early 2000s until the pandemic hit, the participation rate steadily declined and was about 63% at the end of 2019. It fell sharply in April 2020 as the U.S. began a period of lockdowns to try to contain the rapid spread of COVID-19, reaching a nearly 50-year low of 60.2% that month.

Although the rate has recovered somewhat, it continues to flounder below 62% because of a combination of factors brought on or exacerbated by the pandemic, such as fear about returning to a physical workplace and pandemic-related benefits that made it more financially feasible to go without a job.

While economists don't identify a specific participation rate as ideal, it's generally believed that a sudden, sizable reduction in the rate presents significant challenges to the smooth functioning of an economy. That's because it represents a rapid withdrawal of productive resources -- workers -- that can't be easily or quickly offset. This is one cause of the recent surge in inflation, not to mention the supply chain problems the global economy is currently experiencing.

If the rate doesn't rise to pre-pandemic levels in the coming year or two, that would dash hopes for a stronger economic recovery and would signal high inflation and supply chain shortages will be with us for some time to come.

A low unemployment rate because people are working is good.

A low unemployment rate because people aren't working, and are being paid not to work, and so aren't filing for unemployment, is bad, and leads to things like inflation and shortages.

Brandon says he doesn't mind paying people not to work, and that employers should just "compete" with the impossible-to-compete-with "job" of being paid not to work.

Screenshot (1194).png

Let's Go Brandon.

Oh wait, that's an "insurrectionist taunt."

Oh well, I'm fine with that.

Fuck you Biden.

Illegitimate president. Coupist.

Update: Remember, Brandon and the media are having meetings on the reg to work out how to spin the bad economic news as good.

Bloomberg got caught doing that, as Darrell Harris shows:

Bloomberg tried to hide the bad news.

Updated Headline: U.S. Jobless Rate Falls as Wages Jump, Adding Pressure on Fed

Original Headline (in URL; they couldn't change that one):


Posted by: Darrell Harris

digg this
posted by Ace at 01:15 PM

| Access Comments

Recent Comments
My Life is Insanity : "Thanks, JT. It'll be a nice send off for mom. Sh ..."

JT: "Its refreshingly cool out thar.... ..."

JT: " My sister and nephew arrived last night from AZ. ..."

My Life is Insanity : "Sister will be here a week. She is a bit freaked ..."

San Franpsycho: "I've been to Baja and Guerrero often in my youth, ..."

My Life is Insanity : "My sister and nephew arrived last night from AZ. ..."

Bruce: "Mexico is collapsing. US citizens are urged to she ..."

My Life is Insanity : "Hey, JT! ..."

JT: "Hiya MLiiGRAM ! ..."

My Life is Insanity : "Mornin', all ..."

San Franpsycho: "Good morning morons Mexico is collapsing. US ci ..."

online gambling: "Please let me know if you're looking for a author ..."

Recent Entries

Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64