Sunday, August 5, 2012

Jobs Lost Not Added for July 2012

Tea Party PacMan
We have all heard the media report that 163,000 jobs were added in July 2012. The Wall Street Journal has attributed stock gains to the news.
Stocks rose sharply in early trading. The Dow Jones industrial average added 243 points to 13,122, while the broader Standard & Poor's 500 index rose 27 points to 1,392.
Unfortunately it is more Doo Doo Economics:

The Bureau of Labor Statistics' employment numbers reports the following:

Not in Labor Force (unadjusted) rose from 86,770,000 (June) to 86,828,000 (July).  This is an increase of 58,000 people who have dropped out of the labor force. From July 2011 to July 2012 this number has increased from 84,859,000 to 86,828,000. This is an increase of 1,969,000.

The Employment-Population ratio (unadjusted) has decreased from June 2012 to July 2012 from 58.9% to 58.8%. It is up from July 2011 when it was 58.6%.

The Employment Level (unadjusted) decreased from June 2012 to July 2012 from 143,202,000 to 143,126,000. This is a decrease of 76,000 jobs. On a brighter note, this number is up from July 2009 when it was 141,055,000.

The graphic at the top of this post is our latest "Don't Tread on Me" bumper sticker /tshirt design.

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