Jobless rate falls- yeah, right!

Discussion in 'News / Current Events' started by Mexdeaf, Jan 6, 2012.

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  1. Mexdeaf

    Mexdeaf
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    According to the latest figures the jobless rate went down and 200,000 were hired last month.

    Pardon my skepticism, but after all it IS a presidential election year...

    ... plus, I don't really trust statistics when I see increasing numbers of people coming here to the church looking for help or food from our food bank.
     
  2. billwald

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    How many of the jobs were Christmas sales jobs? What did they pay?
     
  3. Earth Wind and Fire

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    Old saying "Figures lie & lier's figure"

    I just got a e-mail from New Jersey's jobs (employment) group wanting to set me up with a job in Edmonton Canada....however I also must speak French. GENIUS! :laugh:
     
    #3 Earth Wind and Fire, Jan 6, 2012
    Last edited by a moderator: Jan 6, 2012
  4. Robert Snow

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    There are plenty of jobs in the Houston area, if you are willing to actually work.
     
  5. targus

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    When a person's unemployment compensation payments run out they are dropped from the labor force numbers and considered to be no longer "seeking employment".

    It is an artifical drop in the calculated labor force numbers that makes the unemployment numbers go down.

    The number of unemployed goes up and the unemployment rate goes down.

    Neat trick huh?

    The current U6 unemployment rate is about 17%.
     
  6. Oldtimer

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    Unemployment reporting is just like calculating the inflation index.

    Pick and choose which numbers to use to reflect what you want the results to indicate. (Omit selected foods and fuels from inflation reporting.)

    In a few months wonder what the adjusted (whatever that means) rate will be for the figures just released. Strange there's little media coverage when there's a flip-flop between initial reports and final reports.
     
  7. Mexdeaf

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    What's U6?
     
  8. Salty

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  9. targus

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    The Bureau of Labor Statistics also calculates six alternate measures of unemployment, U1 through U6, that measure different aspects of unemployment.

    U1: Percentage of labor force unemployed 15 weeks or longer.

    U2: Percentage of labor force who lost jobs or completed temporary work.

    U3: Official unemployment rate per the ILO definition occurs when people are without jobs and they have actively looked for work within the past four weeks.

    U4: U3 + "discouraged workers", or those who have stopped looking for work because current economic conditions make them believe that no work is available for them.

    U5: U4 + other "marginally attached workers", or "loosely attached workers", or those who "would like" and are able to work, but have not looked for work recently.

    U6: U5 + Part time workers who want to work full time, but cannot due to economic reasons (underemployment).

    http://en.wikipedia.org/wiki/Unemployment
     
  10. Mexdeaf

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    Thanks- I especially appreciated the transcript. Going to have to read that site more often.
     
  11. Crabtownboy

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    When I saw the new figures on TV my first thought was of the BB and those who would criticize the numbers. Now if the unemployment figures had been up those same people would be screaming about unemployment getting worse.

    Some in the GOP are in touch with reality as opposed to wishful thinking or non-thinking by Obama haters:

     
    #11 Crabtownboy, Jan 7, 2012
    Last edited by a moderator: Jan 7, 2012
  12. Bro. Curtis

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    Lucky you. Missoula, being a central hub in the Northwest, is always looking for truck drivers, mechanics, hotel workers....

    But Targus is correct. The real unemployment rate is much higher than is being reported, and a Christmas season hiring boom won't change that.

    And wait until the Obamacare tax hikes start.
     
  13. Mexdeaf

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    I don't know if you class me as a 'non-thinking Obama hater' but I'm just saying that what I see 'on the street' and hear from friends all around the country does not square with what the news is reporting.
     
  14. Robert Snow

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    There are many machine shop jobs here because of the oil industry. Evidently, there is plenty of drilling going on.
     
  15. InTheLight

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    I get how when an unemployed person's compensation payments run out would cause the official unemployment rate to drop but I don't see how actual unemployment increases. The person was unemployed when getting payments and unemployed when they run out. Why would actual unemployment go up?
     
  16. targus

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    Good eye.

    Reword that to "the number of unemployed stays the same but the unemployment rate goes down."
     
  17. righteousdude2

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    It Isn't Falling in My Area of this Country!

    Your skepticism is validated by a ton of people I know through church and other social arenas in Southern California. There are people out here who are no longer collecting unemployment because they ran out of time and still couldn't find a job.
     
  18. Oldtimer

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  19. HankD

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    Gas prices are falling, Unemployment rate is falling, seniors get an SSA COLA for 2012.

    And its an election year.

    Hmm...

    HankD
     
  20. Salty

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    Actually gas just went (about $.08/gal) up the other day after about a one month drop.
     
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