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Saturday, February 4, 2012
Friday, February 3, 2012
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Illustration: Obama jobs by John Camejo for The Washington TimesStory Topics
The White House hyped the news Friday that January payrolls had risen by 243,000. The hitch is the Bureau of Labor Statistics (BLS) also dropped 1.2 million from the calculated workforce. Somehow this net loss of a million workers in a single month was transformed into an improvement in the unemployment rate. As the old saying goes, figures don’t lie, but liars can figure.
“Job growth was widespread,” the BLS reported, but most Americans sense that something isn’t quite right with the numbers. The most important change was the deep decline in the workforce. While the overall population jumped an 1.6 million in January, the workforce declined a record-setting 1.2 million. This figure represents those who out of sheer frustration or for other reasons have dropped out of what the government defines as the active labor pool. They are worse than simply unemployed; they are both jobless and hopeless.
The good news for Obama administration statisticians is that these unfortunates don’t factor into the official unemployment rate, which only counts those thought to be looking for work. So while five people drop out of the system in despair for every new job created, the official unemployment rate declines and the White House enjoys a good news day.
“The recovery is speeding up,” President Obama declared. However, the broader measures tell a different story. The employment-to-population ratio, the most comprehensive jobs number, remained flatlined at 58.5 percent, around where is has been for at least a year. The number lacking jobs has likewise remained steady at 41.5 percent. The overall participation rate, the percentage making up the workforce in the population, accelerated an already steep decline to a 30-year low of 63.7 percent. In short, the recovery is not speeding up - people are simply giving up.
The participation rate is a subjective measure and highly subject to manipulation. The lower it goes and the more people are dropped from the unemployment equation, the better the numbers will look for the White House. This figure has been dropping sharply since Mr. Obama took office. Last month, an analysis at the Zero Hedge financial website noted that by extending the logic of reporting progressively fewer labor-force participants, “America will officially have no unemployed when the Labor Force Participation rate hits 58.5 percent, which should be just before the presidential election.” Maybe that’s the plan.
A year ago, there were 99 million people either officially unemployed or otherwise not working, and the official unemployment rate was 9.1 percent. Now, unemployment reported by the government is down to 8.3 percent, but the number without jobs has topped 100 million. The disconnect between increasing joblessness in America and the rosy White House official statistics should be the subject of a congressional investigation. Something does not add up.
The Washington Times
© Copyright 2012 The Washington Times, LLC. Click here for reprint permission.
The Truth Hurts the Obama Admin... This is a great Read
Ivy League Basketball Preview: Cornell Big Red vs. Harvard Crimson
The Cornell Big Red and the Harvard Crimson will both be gunning for a victory on Friday when they meet at Lavietes Pavilion.
Oddsmakers currently have the Crimson listed as 15-point favorites versus the Big Red, while the game's total has not yet been posted. Cornell won its last outing, a 65-60 result against Columbia on January 28. They covered in that game as a 3-point favorite. In their last action, Harvard was a 68-59 winner on the road against Brown. They failed to cover the 16-point spread as favorites. Cornell: Team record: 7-11 SU, 5-5 ATS The total has gone UNDER in 5 of last 6 games when playing on the road against Harvard is 6-3 SU in its last 9 games when playing on the road against Harvard is 1-4 ATS in its last 5 games when playing on the road against Harvard is 0-5 SU in its last 5 games on the road When playing on Friday are 6-4 Before playing Dartmouth are 7-3 After playing Columbia are 8-2 After a win are 4-6 Harvard: Team record: 18-2 SU, 9-6 ATS Current streak: won 6 straight games. is 5-0 SU in its last 5 games is 5-0 SU in its last 5 games at home The total has gone UNDER in 5 of last 6 games when playing at home against Cornell The total has gone UNDER in 4 of last 5 games when playing Cornell When playing on Friday are 3-7 Before playing Columbia are 7-3 After playing Brown are 3-7 After a win are 8-2 Next up: Cornell at Dartmouth, Saturday, February 4 Harvard home to Columbia, Saturday, February 4Ivy League Basketball Preview: Cornell Big Red vs. Harvard Crimson
NBA Preview: New York Knicks vs. Boston Celtics
Divisional bragging rights will be on the line on Friday when the New York Knicks and the Boston Celtics meet at TD Garden.
The Celtics are now a 6 1/2 point favorite and the total is posted at 184. New York was a 105-102 loser in its last match at home against the Bulls. They covered the 3.5-point spread as underdogs, while the total score of 207 sent OVER bettors to the payout window. Last time out for Boston, they were a 100-64 winner as they battled the Raptors at home. The Celtics covered in the match as an 8.5-point favorite, while 164 combined points moved the game UNDER for totals bettors. New York: Team record: 8-14 SU, 7-15 ATS The total has gone UNDER in 5 of last 5 games on the road The total has gone UNDER in 12 of last 16 games The total has gone OVER in 6 of last 9 games when playing on the road against Boston is 2-4 ATS in its last 6 games on the road When playing on Friday are 8-2 Before playing New Jersey are 6-4 After playing Chicago are 4-6 After a loss are 3-7 Boston: Team record: 11-10 SU, 11-10 ATS Current streak: won 2 straight games. is 5-0 SU in its last 5 games when playing at home against New York The total has gone UNDER in 10 of last 11 games at home is 8-1 SU in its last 9 games when playing New York is 6-1 SU in its last 7 games When playing on Friday are 8-2 Before playing Memphis are 6-4 After playing Toronto are 6-4 After a win are 7-3 Next up: New York home to New Jersey, Saturday, February 4 Boston home to Memphis, Sunday, February 5NBA Preview: New York Knicks vs. Boston Celtics
Ivy League Basketball Preview: Pennsylvania Quakers vs. Yale Bulldogs
The Pennsylvania Quakers and the Yale Bulldogs will both be trying to pick up a win on Friday when they battle at John J. Lee Amphitheater.
Oddsmakers currently have the Bulldogs listed as 2-point favorites versus the Quakers, while the game's total has not yet been posted. Last time out for Pennsylvania, they were an 82-67 winner as they battled Princeton at home. They covered in the match as a 1.5-point favorite. In their last action, Yale was a 62-52 winner at home against Dartmouth. They failed to cover the 12-point spread as favorites. Pennsylvania: Team record: 11-9 SU, 11-5 ATS Current streak: won 4 straight games. is 4-2 SU in its last 6 games when playing on the road against Yale The total has gone UNDER in 4 of last 6 games when playing on the road against Yale When playing on Friday are 3-7 Before playing Brown are 4-6 After playing Princeton are 2-8 After a win are 4-6 Yale: Team record: 13-5 SU, 3-5 ATS is 9-1 SU in its last 10 games at home is 5-1 SU in its last 6 games The total has gone UNDER in 4 of last 6 games when playing at home against Pennsylvania is 2-4 SU in its last 6 games when playing at home against Pennsylvania When playing on Friday are 6-4 Before playing Princeton are 6-4 After playing Dartmouth are 6-4 After a win are 8-2 Next up: Pennsylvania at Brown, Saturday, February 4 Yale home to Princeton, Saturday, February 4Ivy League Basketball Preview: Pennsylvania Quakers vs. Yale Bulldogs
Underdog Giants Stand to Payout on NFL Betting Line
The New York Giants did it once, now they'll look to shock the world all over again. Will you stand to profit from the heady play of Eli Manning and company as they gear up for Super Bowl XLVI as underdogs? Weigh in on the NFL betting line today. Super Bowl XLVI: Claim Your $100 Free Bet! Join Now. Although history shows the Giants, and not the New England Patriots, as the 2008 Super Bowl victors, NFL odds makers at Bovada seem to think that Tom Brady and the Pats are the club to beat in 2012. Never mind that the only regular season clash this season also went in New York's favor, the Giants are listed as +3 underdogs. Can Manning, trusted with an over/under for total passing yards set at 315.5, follow through on 9/4 odds of winning the Super Bowl MVP? He may trail his counterpart Brady in both categories, but remains an intriguing choice with a higher payout. Provided Manning can connect with standout receiver Victor Cruz, we may see the NFC Champions doing yet again what they seem to do best; show up big when few expect them to. With a glutton of player props available, Bovada's NFL betting line is loaded with playable opportunities for football fans and experts alike. Weigh in on the big game yourself today. Super Bowl XLVI It's All On The Line
Underdog Giants Stand to Payout on NFL Betting Line
NBA Preview: Miami Heat vs. Philadelphia 76ers
The fans at Wells Fargo Center will be treated to a game between the Miami Heat and the Philadelphia 76ers when they take their seats on Friday.
Oddsmakers currently have the Heat listed as 2½-point favorites versus the 76ers, while the game's total is sitting at 192. Last time out for Miami, they were a 105-97 loser as they battled the Bucks on the road. The Heat failed to cover in the match as a 7-point favorite, while 202 combined points moved the game OVER for totals bettors. Last time out for Philadelphia, they were a 98-82 winner as they battled the Bulls at home. The 76ers covered in the match as a 2-point underdog, while 180 combined points moved the game OVER for totals bettors. Miami: Team record: 16-6 SU, 9-13 ATS is 12-1 SU in its last 13 games when playing Philadelphia The total has gone OVER in 6 of last 7 games on the road is 5-1 SU in its last 6 games is 4-1 SU in its last 5 games when playing on the road against Philadelphia When playing on Friday are 5-5 Before playing Toronto are 5-5 After playing Milwaukee are 6-4 After a loss are 6-4 Philadelphia: Team record: 16-6 SU, 16-6 ATS Current streak: won 4 straight games. is 13-2 SU in its last 15 games at home The total has gone UNDER in 6 of last 7 games at home is 5-1 SU in its last 6 games The total has gone UNDER in 5 of last 6 games When playing on Friday are 3-7 Before playing Atlanta are 3-7 After playing Chicago are 5-5 After a win are 6-4 Next up: Miami home to Toronto, Sunday, February 5 Philadelphia at Atlanta, Saturday, February 4NBA Preview: Miami Heat vs. Philadelphia 76ers
Thursday, February 2, 2012
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