Posted on 07/02/2010 5:35:12 AM PDT by C19fan
Total nonfarm payroll employment declined by 125,000 in June, and the unemployment rate edged down to 9.5 percent, the U.S. Bureau of Labor Statistics reported today. The decline in payroll employment reflected a decrease (-225,000) in the number of temporary employees working on Census 2010. Private-sector payroll employment edged up by 83,000.
(Excerpt) Read more at bls.gov ...
Very observant that both of you noticed that discrepancy.
I didn’t read this particular article, so I don’t know if they deliberately left out some critical data.
But they way they end up with a LOWER unemployment number with an INCREASE in job losses is by hiding the number of people that are no longer eligible for unemployment because they have been unemployed so long. That’s why they developed the U1 through U6 unemployment statistics. It enables them to paint a rosier picture.
Yes, eventually, we could have 0 unemployment with 100% of the work force unemployed, the way they lie about the numbers.
You have to look at the U6 unemployment, which takes these additional, critical stats into consideration.
U6, the last I checked was 17.5%.
How lucky. I just found this article running today, which gives a fair overview.
I’m not sure where they’re getting their U-6, though. We crossed 17 long ago.
http://finance.yahoo.com/news/Unemployment-Beware-of-etfguide-2265152053.html?x=0&.v=1
I will have to drill down into this data, as I’ve done before. I understand that the civilian labor force is said to have declined month-over-month, along with the “participation rate”. If you take the delta for “marginally attached to the labor force” and add that for “discouraged workers”, the result is 492,000. Add to that the net increase of 350,000 unemployed, and you get -842,000 net NILF from May to June. Not a pretty picture, no matter how you paint it.
Lose more jobs = unemployment # goes down.
Sure, I realize more people have quit looking for jobs but this is cooking the books. We’re closer to 15% but the Messiah and BiteMe would look bad
Yes - still unemployed ... but not registered with one of the state unemployment agencies - most of the time called ‘Work Force” blah blah blah.
Also - from experience - if a person was self-employed even as something like a consultant or manufacturers rep. or as an owner of a larger firm and is now BUST - no customers - no income ... he/she does not get any state assistance for unemployment insurance in most states ... and he/she is likely not registered... so not counted.
Yes folks, a self employed person can be unemployed for months and years after having a business failure ... BUST and he/she gets NO ASSISTANCE... no bailouts period.
If history repeats itself, and the unexpected always happens, how incapable must Man be of learning from experience.
George Bernard Shaw
The dead Democrats who voted in 2008 dropped off the roles.
Go ahead and let ‘em lie. The stark fact of this economy is slamming into the faces of folks more every day, causing these ‘reports’ to look like the farces that they are.
Sounds much more realistic.
Unfortunately, some people are very incapable of learning from experience, especially politicians and news media types.
It does not include the people who have run out of unemployment and are continuing to look for work to no avail.
The job situation in this country is not good.
I am sick of “stupid liberals” insisting the country is recovering wonderfully.
I’m also sick of a few “so called conservatives” who have cozy jobs spieling about unemployment being welfare and if you haven’t found a job your lazy.
8 million people (according to government statistics) are without a job and are not being helped by anybody.
At this point I wish all members of congress would be voted out and replaced with random people from the phone book. (who says polls are useless ...)
Nothing to see here folks ... keep moving.
According to Nancy Pelosi, Obama and the rest of the progressives (leftist whack jobs), the country is recovering greatly.
According to some schmucks on FR(perfect "conservatives") , if you don't have a job by now your lazy and not looking hard enough. No wonder people are sick of all Politicians.
Hate to tell many this, but employers are not hiring for part-time work either.
Employers are barely hiring anyone ... yet alone all the Americans out of work.
I get furious at the fringe of both parties who claim all is well.
If you have common sense, you know the following facts:
(1) Obama’s led government can not be trusted for accurate job data.
(2) Democrats are in control and have not helped anyone in 2 years.
(3) Some so called conservatives feel it is an individuals fault if they lose their job, and collect unemployment ... and there are plenty of part time jobs out there. Those people are idiots and need to STFU.
(4) Obama’s stimulus DID NOT DO SQUAT to help the economy.
(5) Economists must be propaganda robots... because I see no economic recovery.
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REVOLUTION!
SIC SEMPER TYRANNIS!
“Unemployment rate down 0.2% to 9.5%...at least it’s in the right direction.”
That’s because more people are unemployed.
Atta girl Nancy!
“I get furious at the fringe of both parties who claim all is well.”
The only one claiming things are well is the Obama admin and their flunkies.
We have an unhealthy economy an too high unemployment, for sure.
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