Jobless Rate Worse Than the Headlines Say

azcentral.com ^ | 9-22-03 | Justin Bachman

[riri]

An analysis of the latest government monthly economic data suggests the unemployment situation is worse than the headlines portray.

August numbers from the Department of Labor found a 6.1 percent unemployment rate, or about 8.9 million people out of work. But in its analysis of other monthly data from the Bureau of Labor Statistics, outplacement firm Challenger, Gray & Christmas Inc. reported the real unemployment rate was 9.1 percent.

[stuartcr]

Easier said than done for many Americans.

[fortaydoos]

According to many here, if he didn't have the foresight to be born with a multi-million dollar trust fund he should do the honorable thing: walk out onto an ice floe and die of starvation.

[waterstraat]

In other words, some who were employees become entrepreneurs and them employers (been there and done that).

Others will engage in education or retraining to adapt to the new employment market

Entrepreneurs? Most small businesses fail - so that means that if an unemployed guy started a small business with his last dime in savings, you will have to pay entirely for his upkeep, as well as paying his income taxes that he no longer pays.

Retraining for what ? Where are there over 3 million jobs that these free trade displaced workers can go? Who will hire them and in what industries are there 3 million unfilled openings? How many companies will hire a 55 year old trainee?

[Living Free in NH]

If the jobless rate is so damn high, how come my daily commute isn't getting any easier? Actually, I think it's getting worse!

[waterstraat]

Everyone is driving around looking for work.

[Koblenz]

I've been making my quarterlies....

[waterstraat]

Plus, we let in 57,000 more legal immigrants each and every week, plus nearly that many illegals sneak accross the border. Our population is rapidly increasing/overpopulating, it has nothing to do with how many jobs there are.

[VRWCmember]

16 and 17 year olds don't count.

Actually they do. The definition of the work force (according to the BLS) is anyone 16 and older who is available for work and actively seeking employment.

[riri]

Plus, we let in 57,000 more legal immigrants each and every week, plus nearly that many illegals sneak accross the border

Well, I need to start taking tips from them! A Mexican couple I am friendly wih just bought a new Expedition (cash) and got back from their second vacation this year. Between the two of them, I don't think either has over an 8th grade education, pretty bad english, etc. (Great people though--would give you the shirt off their back)

I am not really sure what he does, something construction related.

[exmarine]

You mean...the government isn't telling the whole story??? Good thing I'm not trusting the government for anything!!!

[BureaucratusMaximus]

There's always decent money in driving an 18 wheeler. I know that that's my plan B, if my IT job goes sour; I got my CDL 2 years ago. But I'm also a fed gov worker, so that may not happen. For all recently displaced conservative IT folks, seriously...look into local/state/federal gov jobs. Obviously the politics, bureacracy, "typical government workers" are detrimental to that decision as well as a cut in pay and benefits as compared to private industry. But the job security, (especially when you have a house, wife and kids, and 2 dogs to feed) outweighs all those negatives...at least IMHO.

[harpseal]

Ping on or off let me know

[Jumper]

Even 9.1% is not bad when compared to the rest of the Western Industralized Countries. Germany has 5.5 million out of work in a population of 85 million people. France is reported to have around 12%, that on top of 55 year old retirees and mom's taking up to 5-years off to start the kids off in life. Here in Belgium, unemployement is around 10% and suffering from an underworked population like that of France. South Korea is in recession. The entire world has many people out of work. High energy prices, the World Trade Bombing and the global terrorism network is taking a toll; protectionist trading partners hurt the US as well.

Get the picture? So who's fault is it that the World is in Recession? Certainly not the Republicans, not Bush.... 'Nuff Said.

[biblewonk]

Well, by their definition I'm sure it counts but when one is considering the state of the economy and how many people are struggling to feed families, they don't.

[LibertyAndJusticeForAll]

The unemployed in socialist countries have all kinds of government programs, including health care, to fall back on, America doesn't. Rather high unemployment is one of expected negative effects of socialism.
The current high unemployment in America is not due to some ordinary economic cycle, but to our lousy trade policies and the new offshoring and outsourcing trends.

[JeanLM]

I don't see any substantiation of the 9.1% jobless figure. Looks bogus to me. The unemployment number IS a survey. There is no estimate made using unemployment claims. The better statistics are the number of people employed, which can be found on www.bls.gov. Or my favorite , the participation rate. This is the percentage of the adult population calling themselves workers who are employed. That's at almost 67% now. This is one of the highest rates in the industrialized world and near it's all-time high. If you were an absolute monarch and had this historical data, you'd think you were doing a pretty good job.

The problem is people always can point to an unfortunate friend , relative or personal experience that runs counter to the steady rise in employment we've had over the last 30 years. A recovery of any magnitude and we'll have a hard time filling jobs again. Even now it's hard to get people to move 100 miles for a job. That's a problem no one talks about.

[Porterville]

I can't get an interview; I'm young with several useful degrees... I can't get an interview because unions and administrative nepitism protect the sweet jobs. I guess I could always be a prison guard... they are always stocking the inventory in the jails so tax monies can be funneled to peripheral communities.... damn I hate being broke.

[JNB]

Of course, the median wages and purchaseing power have been falling for about 30 years, and that is why so many familes now have to have 2 parents that work now. The BLS U-6 alternative measure of unemployment for August was around 10%, so the 9.1% unemployment rate isint far off the mark.

[banjo joe]

You nailed it. I live near a small town that relied on light manufacturing and agriculture. Large town 1.5 hours away. The commute is bumper-to-bumper all the way now. Move to the large town? Real estate prices are through the roof!

[Jumper]

And how would one correct our trade policy without cutting our wrists? Lousy trade policy or quite possibly the best deal to ensure the collective security of ourselves and ungrateful allies. The correction in Oil will be the saving factor. The raw deal from OPEC and 9/11, coupled with the France/German/Russian pressure has had a profound affect; yet, today Bush is ready to address an UN body that knows it failed in its gambit to neuter the US militarily through economic suversion. We have weathered the storm caused by many factors competing in concert to harm us but have prevailed. Trust in Republican policy over the long run; it has never failed us, nor that of military-industrial-complex - yes, we have been through a difficult period but those with us will do better than those against us.