Posted on 10/06/2009 7:31:30 AM PDT by SeekAndFind
America's jobless crisis is much worse than the 9.8 percent unemployment rate reported Friday. To understand how there are many more unemployed than the government reports, it's necessary to look at the numbers used by the Bureau of Labor Statistics to calculate the unemployment rate. The Household Survey numbers paint a bleak picture that no one is discussing.
In September, the economy saw a net loss of 785,000 jobs. This amounts to twice the 392,000 loss in August and five times the 155,000 loss in July. This does not jibe with the Obama administration's talking points, which are parroted by most of the news media, namely that unemployment is not a major concern because job losses supposedly are getting smaller each month.
In August, the unemployment rate was reported to be 9.7 percent. It takes a lesson in how government measures unemployment to understand why it's possible for the unemployment rate to rise merely a tenth of one percent when 785,000 jobs have been lost. If someone has given up actively looking for a job, the government does not count that person among those who are jobless. Some of these people may have been unsuccessfully looking for a job for a year, but as soon as they stop actively looking, they are no longer unemployed.
This number of discouraged workers has risen dramatically. According to the Bureau of Labor Statistics, 807,000 additional people stopped looking for work last month. This constitutes by far the largest monthly drop in the number of people who don't consider themselves to be in the labor force during the past year during this recession. It is almost six times the 143,000 increase in the people who left the labor force during August and five times the average monthly increase of 161,000 over the past year.
(Excerpt) Read more at washingtontimes.com ...
We can't let Democrats skate on the economy.
This has to be the club we beat them with in 2010 and achieve legislative gridlock.
How’s that hopey changey working for you?
I hope they don’t change my job...
BTW, I have a real problem understanding this from the Washington Times article and many others who mention it :
Why would any responsible American ( of which I am sure the majority are ) even GIVE UP looking for a job ? I know it’s hard but what other alternative do you have for your bread and butter ? To simply give up does not make sense to me.
What happened to the ponies promised in January? I thought everyone was supposed to have been soaking in hot tubs, sipping champagne, worry and debt free without having to work by now.
I’d like to know how that is measured, but it could be they went back to school or started a business, both would knock them off being unemployed but I don’t see how that is measured.
As an unemployed person who is collecting unemployment you are required to look actively for employment to collect. When it runs out the only person forcing you to seek employment is yourself (or possibly your wife). A disturbingly large % of people don’t have that personal motivation.
But don't fret at the apparently bad news. Remember that next year we will finally be rid of the awful effects of the Bush tax cuts for the rich and taxes will return to normal levels.
how many working people are there?
"Keep looking: there's gotta be a pony in there somewhere!!"
btt
The statistics the government makes public are always wrong and usually much worse than they say.
I think unemployment - true unemployment figures - may very well rise to 25%.
When that happens, Obummer and his administration are finished.
Is the border fence shovel-ready?
A couple might decide to tighten the belt and let one spouse stay home. Looking for a job can take a financial and emotional toll...
We found the manure - but no ponies...
Well just think how much worse it would be if not for all of the jobs created and saved by 0bama and Biden. I am sure they will tell us they have made huge progress in keeping people employed.
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