Posted on 09/02/2011 5:35:14 AM PDT by Free Vulcan
Edited on 09/02/2011 5:57:03 AM PDT by Admin Moderator. [history]
WASHINGTON (MarketWatch) - Job growth was unchanged in August, the weakest performance in almost a year...lower than the 53,000 gain expected.
(Excerpt) Read more at marketwatch.com ...
check participation rate
Zero jobs created, yes.
But when I employ their magical formula, I calculate roughly 50-70 million jobs SAVED because...well...just because we have the chosen one, the one we have all be waiting for, wiping his butt in the bathroom nearest the oval office.
So the key to a stable labor market during the Obama era is simply to have more and more workers give up? What vision! Start carving that head on Mt Rushmore.
Why doesn’t the unemployment level increase with more people filing for benefits and no jobs created? Easy. The totals don’t reflect the hundreds of thousands of Americans who have given up on finding a job and are no longer reflected in the labor totals.
Reuters had an interesting article about a month ago that actually reflected this trend. The wire service fouind that if the labor market today was the same size as the day Zero took office, unemployment would be over 11 percent.
figures don’t lie- but liars can figure
Yep.
Economists typically estimate the nation needs to add about 150,000 jobs each month to keep up with population growth alone.
A local financial radio talk show host who is usually conservative and laid back was very concerned last night about a possible depression.
We need a recount of the jobs created in Martha’s Vineyard.
They were all flown in from the white House. Went back to
DC with the Royal party.
The 99ers are starting to drop off. Voila! They’re no longer considered “unemployed”.
Awesome!
Boehner and McConnell need to get together and propose an alternate growth plan - it could be as simple as a freeze on new regulations until the end of this president’s term, stabilization of tax rates where they are for the next 5 years, an end to any drilling restictions remaining from the BP disaster, and a commitment to revote on Obamacare at the beginning of the next Congress.
They should point out that they need to provide the private sector with some degree of economic certaintly for the future, a minimum of regulatory impediments to growth, and the prospect of improved access to energy.
And the final thing they should do is say is that if Obama rejects their proposals out-of-hand, then he’s not serious in his calls to put politics aside and focus on the good of the country (since everyone knows when Obama says “put politics aside” what he really means is “you have to agree with me or else you’re a partisan”).
The monthly unemployment figure isn’t made up of real numbers of people actually counted.
It’s arrived at by polling......................
“Some things just don’t make sense to me. The initial jobless claims report comes out every week with 400,000+ new claims. We are told (every week), that the number must be significantly below 400,000 if we are to have a stable job market. Then the monthly unemployment number comes out and it remains stable (albeit high). ???”
The statistic is manipulated from the get-go. The UE rate is the number of people actively seeking jobs divided by the number of people in the labor force. OK, here’s your manipulation: If someone runs out of their 99 weeks (used to be 26) of UE benefits, BY DEFINITION they are not actively seeking a job AND are not part of the labor force (yet there is no money coming in for that person/family to put food on the table). Someone who gets discouraged after X number of months looking for a job and stays at home eating popcorn is also not in the labor force. The guy who lost a $75,000/year job and replaced it with a $12/hour, 20-hour/week job with no benies, just to have something coming in IS counted as employed - despite having their wages cut to about 1/6 of his original compensation (not including the lost benies).
Note that the UE number reported is known as “U3.” This is a different number than the way it used to be calculated. There are 2 measures that more accurately measure UE: first is “U6,” which is a broader measure (by the Labor Dept) of unemployment. That figure is over 16%. Then there is the Shadow Government Statistics (SGS) alternative number which attempts to measure UE as the government measured it before the Clinton Administration defined long-term unemployed people out of existence (and there was manipulation, to a lesser extent, before that). Presidents of both parties are guilty of messing with the GDP, inflation and UE statistics. See http://www.shadowstats.com/article/primers_intro and http://www.shadowstats.com/alternate_data/unemployment-charts for an introduction.
FYI, the SGS measure of UE is now around 23% - that’s what the UE rate would be right now if we measured it the way it was only about 17 years ago. That’s a DEPRESSION!
They have and they will. Eric Cantor is already taking the lead. Some of this will be to re-pass bills the House already passed in 2011 that the MSM completely ignored.
The unemployment numbers are screwed for the 2012 election. Even if a lot of companies started to hire, that would encourage all the discouraged workers to start looking for work and make the unemployment number even higher.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.