You may have seen their headline number of 8.3% unemployment earlier today. What you didn't see is that the BLS had to "disappear" 1.2 million people out of the workforce over the last month alone to achieve that "drop".
It’s the headline that a President facing re-election with a dismal economic record didn’t want to see:
1.2 million people driven out of the workforce in a single month!
A frantic White House exploded into damage-control mode, as a deeply shaken President Obama retreated into his chambers. Nervous spokesmen fanned across the airwaves to stammer apologies, search for silver linings among the storm clouds, offer campaign boilerplate about “hope and change,” and desperately search for some way to blame George Bush for an absolute unemployment disaster that occurred over three years after he left office…
What’s that, you say? You didn’t see that headline? Well, of course not, silly. All you’re seeing in the headlines is good news, because the official, heavily-massaged U-3 unemployment rate fell to 8.3 percent. Fewer people in the workforce means the percentage of unemployed people in the workforce drops.
Tyler Durden uses an illustration to explain how the Democrat employment scam works:
Sick of the BLS propaganda? Then do the following calculation with us: using BLS data, the US civilian non-institutional population was 242,269 in January, an increase of 1.7 million month over month: apply the long-term average labor force participation rate of 65.8% to this number..., and you get 159.4 million: that is what the real labor force should be.
The BLS [instead] reported ... 154.4 million: a tiny 5 million difference. Then add these people who the BLS is purposefully ignoring yet who most certainly are in dire need of labor and/or a job to the 12.758 million reported unemployed by the BLS and you get 17.776 million in real unemployed workers.
What does this mean? That using just the BLS denominator in calculating the unemployed rate of 154.4 million, the real unemployment rate actually rose in January to 11.5%. Compare that with the BLS reported decline from 8.5% to 8.3%. It also means that the spread between the reported and implied unemployment rate just soared to a fresh 30-year high of 3.2%. And that is how with a calculator and just one minute of math, one strips away countless hours of BLS propaganda.
Oh, and just for reinforcement, the invaluable James Pethokoukis piles on:
...If the size of the U.S. labor force as a share of the total population was the same as it was when Barack Obama took office... the U-3 unemployment rate would be 11.0 percent.
...Then there’s the broader, U-6 measure of unemployment which includes the discouraged plus part-timers who wish they had full time work. That unemployment rate is still a sky-high 15.1 percent.
Based on Peth's data, the BLS has "disappeared" a startling four million workers to get unemployment "down" to 8.3 percent.
This kind of egregious activity -- certain to go unreported upon by legacy media -- is why I like to call the BLS unemployment numbers "the Eric Holder of Economic Reports."