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Unemployment

Top News

January Jobs Report: Even the Cooked Numbers Are Bad

The January jobs report is another sign of how weak our economic recovery is – and it's not even taking into account all of the unemployed.

Friday, the Labor Department reported employers added 113,000 jobs last month. The unemployment rate ticked down to 6.6% from 6.7% in January, a rate not seen in five years.

But we know that number doesn't tell the full story…

The decline in the unemployment rate is due to an ongoing trend: discouraged workers exiting the labor force.

The actual unemployment rate, the U-6 rate, which includes "marginally attached workers plus total employed part time for economic reasons," remains at an unhealthy 12.7%.

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Top News

3 Million Americans to Lose Unemployment Benefits in 2014

Today, 1.3 million long-term unemployed workers sit restlessly in Congress' palm. They will be left without federal unemployment benefits just three days after Christmas if Washington fails to rework the budget deal to extend the Emergency Unemployment Compensation Program (EUC).

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The Fed

What the November Jobs Report Means for "Dectaper"

Good news is actually good news on Wall Street today.

Stocks rallied Friday following a robust November jobs report that showed U.S. employers continued to add jobs at a steady pace last month, which pulled the unemployment rate down to a five-year low at 7.0%.

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Top News

October Jobs Report: Labor Force Shrinks to 35-Year Low

Despite worries the 16-day government shutdown would weigh on job growth, the October jobs report was surprisingly strong.

That's what the government is reporting, anyway…

According to the Labor Department numbers released today (Friday), employers increased headcount by 204,000 in October, handily beating the 120,000 many economists expected. The government report also showed revisions to late summer numbers, revealing an extra 60,000 jobs total were created in August and September.

And here's what that means for the markets...

U.S. Economy

This $1.7 Trillion Industry Will Turbocharge the U.S. Economy

Barron's recently predicted that over the next 20 years, "the U.S. economy is likely to grow less than 2% a year, down from 3% or better since World War II."

Citing the work of prominent Northwestern economist Robert J. Gordon, Barron's predicts a long era of slow growth, market turbulence, and – of particular concern – the ongoing displacement of middle class jobs due to technological innovation.

Here's how to capture your share...

Government shutdown

10 Shocking Ways the Government Shutdown Puts Us in Danger

It's Day 4 of the government shutdown – which means Day 4 of your life being more dangerous than it was in September…

You see, besides the effects of 800,000 workers being furloughed, the government shutdown affects the general public in ways most of us don't realize.

Some are downright scary.

Here are 10 you should know now:

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U.S. Economy

The "Part Time-ification" of America: How We've Been Conned Again

By now, you've had a few days to digest the "wonderful" jobs numbers reported from Washington last Friday.

Well, don't get too excited about the economy. We've been conned again.

First off, 59% of all jobs created this year are in 3 sectors: Leisure/Hospitality, Retail Trade and Administrative/Waste Services. Wages in those sectors have fallen by 0.7%. These jobs pay an average of $15.80 per hour versus the $23.98 average hourly wage. Which means "jobs creation" just equals cheaper labor.

The American jobs participation rate is at 34-year lows and falling, as people give up and leave the workforce.

Underemployment is between 14% and 15% and rising.

Jobs

July Jobs Report Confirms These Major Problems with U.S. Employment

The July jobs report brings the total number of part-time jobs created this year to more than three times the amount of full-time jobs added.

Welcome to America: Land of part-timers…

The trend was pronounced in June when data revealed part-time jobs grew by a robust 360,000 and full-time jobs declined by 240,000. Friday's July jobs report was further proof.

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U.S. Economy

Why Companies Aren't Hiring Now

The stock market was rattled on Tuesday by underperforming manufacturing data.

The Richmond Federal Reserve Index, which measures manufacturing performance in the upper Southeast and mid-Atlantic regions, fell to -11 in July, down from a 7 in June. This signals a significant drop in new orders and shipments.

This comes just a week after the Philadelphia Federal Reserve Index reached a two-year high, which had rallied the market. Such a drastic swing in confidence in the manufacturing sector suggests that uncertainty will stretch into the late summer.

The data comes at a pivotal time for the Obama administration. For the eleventh time in his presidency (by ABC News' count), Obama announced that he will pivot back to the economy in an effort to create jobs, with a strong emphasis on U.S. manufacturing.

Even though the New York Stock Exchange (NYSE) recently touched all-time highs, American companies are reluctant to hire, particularly with greater uncertainty on the horizon. Perhaps if the President wishes to create new jobs, the administration should address the primary reasons why companies are not hiring in ways that would reflect strong economic growth, as the markets falsely reflect.

Here are five reasons why companies are not hiring right now.

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Economic Indicators

The Four Most Rigged Economic Indicators

On August 2, the Bureau of Labor Statistics will report the official unemployment rate. But this number doesn't tell the accurate story of the jobs picture here in the United States.

That's usually the case with government-produced economic indicators. Whatever the government figure will say, it will not truly reflect reality. Simply put, it's a rigged number.

When it comes to cheating the numbers, nobody does it better than Uncle Sam.

U.S. investors rely on accurate government data in order to make investment decisions in various sectors of the economy.

But what if these figures reflected negative headlines on a near-constant basis? It wouldn't instill much confidence. And it certainly would cost a lot of people in Washington their jobs.

That's why Uncle Sam plays games with the numbers and presents a far rosier picture of the world to low-information voters and investors. But we're paying attention here at Money Morning, and that's why we're holding a spotlight on the fuzzy math in Washington.

Counting down, here are the four most rigged government statistics in America today:

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