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I’m no expert on this, but I still can’t figure out how we had a net loss of jobs over the last quarter but the unemployment figure fell from 10.1% to 9.7%. I thought you would have to have a net jobs gain in order for the unemployment to fall. At least thats what my basic math tells me. Someone help me with this? Do this mean that there were more people who fell off collecting unemployment than applied for it? I don’t get it...

but I still can’t figure out how we had a net loss of jobs over the last quarter but the unemployment figure fell from 10.1% to 9.7%

A large number of people stopped looking for jobs....a hopeful sign...according to the president.

Say you have a wife, two kids, and enough money to feed 50% of your household. Your "unfed rate" is at 50%. One of your kids moves out. Presto...you now have enough money to feed 67% of your household! Your unfed rate is now a healthy and "hopeful" 33%.

The unemployment rate only measures people who are out of a job and actively seeking work, it doesn't include people who have given up looking for work or people employed part time. The drop in U3 that was reported was most likely due to people stopping the search for new jobs (just giving up) or getting part time jobs. To find a more accurate figure of what the employable base of the country is doing you need to use another rate, U6. U6 has started to trend downard this month by 1% which might indicate the overall situation is starting to slightly improve, but in a recent BLS report we get this little tidbet that indicates something else:

"The number of long-term unemployed (those jobless for 27 weeks and over) continued to trend up in January, reaching 6.3 million. Since the start of the recession in December 2007, the number of long-term unemployed has risen by 5.0 million." --The Bureau of Labor Statistics' latest Employment Situation Summary, released on Friday, February 5, 2010

This indicates that the number of GOOD (full time, good paying) jobs has shrunk by that amount and it continues to grow....trend up, more unemployed.

The "percentages" are the number of people our government pays an unemployment check to every week. Not the number of people that are actually employed. Just because the number of people that are receiving a check has fallen it does not mean the number of people that are employed has gone down. It simply means that those that have been on unemployment the longest are now falling off the ledgers because they have reached the end of the period of time they are allowed to receive benefits.

On a side note. I find it odd that no one ever mentions the tens of thousands of self employed people that are out of work. I'm talking about all the small businessmen and women that are the backbone of American business. Those people that hire 2, 3, 4 or 5 people at most but that are now out of work themselves. Those people are not eligible for unemployment benefits even though they too are out of work. They are also NOT HIRING.

This country is sooooooo screwed and if something's not done to legally remove the illegal alien from the White House's Oval Office not only is the United States screwed but so too is the rest of the world.

Where are our military officers? Do any of you remember the "OATH" you took?

I, [name], do solemnly swear (or affirm) that I will support and defend the Constitution of the United States against all enemies, foreign and domestic; that I will bear true faith and allegiance to the same; that I take this obligation freely, without any mental reservation or purpose of evasion; and that I will well and faithfully discharge the duties of the office on which I am about to enter. So help me God.

Shameful at best if not treasonous to do nothing.

JMHO

I still can’t figure out how we had a net loss of jobs over the last quarter but the unemployment figure fell from 10.1% to 9.7%.

In governmentspeak they only select the numbers that produce the desired results.

Those who have been unemployed long-term and no longer qualify for UE benefits are no longer counted. There are two numbers -- the UE number and the actual UE number. The latter takes into account those who are still unemployed but no longer getting state/FED benefits. The latter is also usually buried, when possible.

"...how we had a net loss of jobs over the last quarter but the unemployment figure fell from 10.1% to 9.7%"

The Bureau of Labor Stats uses its "Household Survey" data to establish the "unemployment rate". That survey estimates 2 variables: Number of people working, and number of people seeking work. If you aren't "seeking work" you don't show up as "unemployed". They then apply a series of "adjustments" using statistical algorithms to reach the stated rate.

Historically, these numbers have been reasonably well prepared and reliable. Recently though, the estimates have seemed increasingly subjective, with apparently counter intuitive results. For example, fewer jobs, higher population - yet lower unemployment.

For that reason, I believe its much better to simply rely on the "total jobs" data, which is much less subjective, as an indicator of economic health. This number is kept honest by an very broad and excellent employer survey done by ADP.

The ADP survey reflects actual payroll data from 500,000 major employers who employ 10's of millions of people. The ADP survey results can be seen at anytime at:

http://www.adpemploymentreport.com/

The results can even be downloaded in spreadsheet form, and I believe their methodology is transparent and available for review. I suggest all Government statements on jobs and hiring be compared with the ADP results.

my thoughts too.

remember how this white house said the GDP rose in the last quarter but it came out it weeks later never rose anything like that and the MSM hardly covered that story and now they;’re in overdrive again.

Lets say Bush was still in the MSM would report this as unemployment goes up , more and more people claiming, nearly a half million.
the MSM have been in love with obama since he came on the scene back at the Dem convention.

Now these figures come out and the MSM says we’re seeing a great improvement, .

The only way the MSM would even report any realy truth to obama is if they saw their own 401k’s gong down quickly and wherre they get affected directly .
Still to them they’re good, they have a house, a job, and decent money coming in so screw the average working class.

Yes remember that class the working blue collar class, the class which has been forgotton.

They say middle class is around 80 grand a year well wife and I don’t make anything like that put together so are we peasant class?
The class which works hard, long hours but do not get freebies and pay taxes but are forgot.

" I still can’t figure out how we had a net loss of jobs over the last quarter but the unemployment figure fell from 10.1% to 9.7%. I thought you would have to have a net jobs gain in order for the unemployment to fall. At least thats what my basic math tells me."

Washington doesn't do Basic Math. They do Obfuscation With Numbers and Other Numerical Ploys.

Hint: "Unemployed" is not the same as "not working." If you were "unemployed" for the last twelve months but have now decided to pack it in and live off your relatives, for the purpose of the official numbers, you are no longer "unemployed."

Many have maxed out on their unemployment benefits and are therefore no longer reporting to the state "Employment Office" and thus are dropped from the calculation.

Yes.

People have either exhausted their unemployment benefits or quit looking, thus fewer claims.

Those figures don’t tally how many Americans are out of work, just how many have filed claims. In this pr0l0nged recession, it’s not an accurate measure of misery.

The apparent disconnect between the recent drop in the unemployment rate (and the corresponding rise in jobless claims) can be easily explained. Thousands of Americans who had been unemployed for an extended period simply stopped looking for work, figuring it was hopeless. When they stop searching for a job, they fall off the rolls.
That’s why the real unemployment rate in closer to 17% instead of 10%.