Posted on 08/05/2011 5:48:52 AM PDT by God luvs America
If your problem is with ME, then please address your criticisms to ME and not to “an awful lot of people here, etc.”
I can take the heat if I make a mistake. Please don’t scold the other people here if I was the screw-up.
I admit, I was not distinguishing between the two counts.
My gripe is that the government constantly gives the impression-—maybe on purpose-—of doctoring the figures. For instance: how do you add 117,000 new employed and drop the U-3 # to 9.1 when it has been argued forever that 150,000 is necessary to compensate for population growth?
Everything they do is self-serving. The whole concept of using U-3 as the yardstick is self-serving. U-6 is much more instructive.
I may lack technical expertise and I might even read an article incorrectly sometimes but one thing I can always sense: WHEN THE REGIME IS SHAFTING ME AND MINE.
FOX radio just reported the participation rate (working or looking for work) is just 64%, a 30 year low.
Obamanomics for you! Demoralize everyone or get them on the gravy train so they don’t “have” to work.
64%! Were reaching the tipping point.
It's not a problem, it's a point - and your not the only one who routinely makes this mistake. So my comments were not just directed at you.
My gripe is that the government constantly gives the impression-—maybe on purpose-—of doctoring the figures. For instance: how do you add 117,000 new employed and drop the U-3 # to 9.1 when it has been argued forever that 150,000 is necessary to compensate for population growth?
As you know, one can use statistics to make almost any point they wish. The reason the unemployment rate went from 9.2% to 9.1% is because somewhere on the order of 175,000 people simply dropped out of the workforce. This is why that unemployment rate drop is statistically insignificant. It's good that it didn't rise I suppose, but it was pretty much a wash.
The fact that the jobs numbers for May and June were revised up to show more jobs created, tied with today's report that beat expectations may indicate that we, despite the poor GDP numbers, may not be slipping into a double dip recession...yet.
Everything they do is self-serving. The whole concept of using U-3 as the yardstick is self-serving. U-6 is much more instructive.
So long as the government doesn't change the way those numbers are generated, then all of these measurements still have value as you can compare them from one month to the next and see trends. You are free to use U6 numbers as your barometer for how the economy is doing - many do the same.
It’ll be revised downward next week. No one will report this.
According to a Bureau of Labor Statistics breakdown, there were 139,296,000 people working in July, compared to 139,334,000 the month before, or a drop of 38,000.
Fewer working in July than June but unemployment went down.
More unemployed gave up looking for work so "unemployment" went down.
Mainstream press, including Wall Street Journal's radio show is acting like spring is here, the clouds of parted and the sun is beaming.
Cooked roadkill. Pitiful!
of=have
I don’t believe Labor Dept. data: unemployment is actually at least 16%.
Wait for the ‘unexpected’ revision in a few days, which will be buried on page D22 and not mentioned on TV.
Jobs Report Should Allay Concerns Over Double-Dip Recession — For Now
..By Daniel Gross
Daily Ticker – 4 hours ago
..
Excerpt, more at http://finance.yahoo.com/blogs/daily-ticker/jobs-report-allay-concerns-over-double-dip-recession-141353858.html
But this morning’s jobs figure, combined with data that was generally ignored among Thursday’s market carnage, should lead us to ratchet down our fear of an imminent recession. The economy may have slowed, and the future is uncertain. But if you want a double-dip this summer, you’ll have to go to Carvel.
First, lets consider the jobs data. The July jobs report was the typical blah-ish report we’ve come to expect in the past couple of years. The economy added jobs (117,000 on net), but not at a rate sufficient to make a dent either in the unemployment rate or in the vast armies of underemployed Americans. The trends that we’ve long noticed continued. And while they aren’t cause for elation, they should be cause for some relief. The conservative recovery — one in which the private sector adds jobs every month while the public sector cuts them — continued. The private sector in July added 154,000 jobs while the government cut 37,000. Put another way, in a month in which Washington intentionally concocted a crisis designed to foment uncertainty and paralysis, companies added about 38,500 jobs per week.
It will be quietly revised downward next month.
Its happened often.
How is this good news? That is not nearly enough to be good news.
Unemployment is really closer to 20%
Your absolutely right, because if they exposed how Obama is cooking the numbers, they will not be able to use the same technique someday. They do not have the guts to be honest with the citizens of this country.
must be the $7.25/hr job flipping burgers ...the only type Obama’s capable of creating.
Point one, the expected job creation of 120,000 jobs guaranteed an increase in the number of un/under employed.
Point two, these numbers will, based on recent performance, be reduced later in the month/quarter.
Point three, the job growth occurred in those sectors infamous for small paychecks and massive turn overs The phrase “You you want fries with your order?” comes to mind.
Finally, doesn't the big three auto makers traditionally shut down for 30 - 45 days during the summer as they retool for the new market? If so, don't they also recall temporarily laid off workers about now to start producing the new product line?
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