Posted on 02/05/2010 5:47:16 AM PST by central_va
WASHINGTON (AP) -- The unemployment rate dropped unexpectedly in January to 9.7 percent from 10 percent while employers shed 20,000 jobs.
The Labor Department says the rate dropped because a survey of households found the number of employed Americans rose by 541,000. The job losses are calculated from a separate survey of employers.
The report also included an annual revision to the estimates of total payrolls, which showed there were 930,000 fewer jobs last March than previously estimated. The department also revised down its estimates for April through October of last year, adding another 433,000 job losses.
November was revised up, however, to show a gain of 64,000 jobs.
All told, the department says the Great Recession has eliminated 8.4 million jobs. That's the most of any recession since World War II as a proportion of total payrolls.
(Excerpt) Read more at finance.yahoo.com ...
Travis, thanks for the Ferfal book.
Thanks, I will give it a look.
But those gains resulted from seasonal adjustments to the data. Without those adjustments, the data show fewer people had jobs last month.
Let me repeat that:
the data show fewer people had jobs last month
AP can spin as madly as an out of balance washing machine for all I care, but bottom line, all of those actual American voters with fewer actual jobs will be showing up at the voting booth in a really bad mood, and the vote counts won't be seasonally adjusted, either.
They don’t have the ability to measure within .5 percent .The result is a calculated from various imprecise measurements.
The accuracy of the calculated value can be no more precise than the least precise measurement and .5% is probably the absolute upper limit of measurement precision.
Numbers are juggled, therefore unemployment... What a bunch of amateurish BS.
It’s an odd practice to not consider someone unemployed when they are actually jobless.
Real Unemployment Rate is 22% - Welcome to Obamaville And The Second Great Depression...
http://ronbosoldier.blogspot.com/2010/02/real-unemployment-rate-22.html
It’s an outrageous perversion of logic,that’s for sure.
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