Dave Snope said:While people are caught up celebrating today's BLS report that the official unemployment rate went down from 8.5% to 8.3%, (including our own Rod Kaufman, who says
Anybody in their right mind can see it's improving , I do feel bad about spoiling the fun.
I'll try to make this as simple as possible with step by step instructions because I have read in these threads that some of our members (like Richard Davis

) are quite slow on the uptake.
Please refer to the latest BLS report here:
http://www.bls.gov/news.release/pdf/empsit.pdf
Please open the report to Table B-1 (ctrl-f, type "Table B-1" in the search field, hit Enter key)
Refer to the top row of the chart, which is the total non-farm employment summary data.
See the Nov. 2011 total employment number. 133.172 million
See the Jan. 2012 total employment number. 130.263 million
Subtract January from November and get -2.908 million jobs. That's 2.9 million more people who have lost jobs since November.
Now look at the far right column. Your dear leaders at the BLS have adjusted that to a net
increase of 243,000 jobs.
Like magic, the unemployment rate has gone
down to 8.3%.
Call that good news if you want. It's your mind and your choice.
Well, it's good news if you are a federal employee because their employment is up slightly, so all is good in Washington. Which is funny, because they report on the news that they have shed jobs, but the table shows that they have increased federal jobs. It's an alternate reality, I guess.
Of course, this 8.3% doesn't include the 5 million or so additional people that have dropped out of the job market, meaning there are 159 million in the labor force, not 154 million that the BLS is using. So
the real unemployment in January rose from 11.2% to 11.5%.