Employment Situation - June 2010 (Obamaconomics = FAILURE!)

Bureau of Labor Statistics ^ | July 2, 2010 | BLS

[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.

[Daisyjane69]

Santelli on CNBC is pissed off!

They’re also hollering about some fishy business in the birth/death model.

[TSgt]

Obama on Unemployment: “At Least It’s Not at 12, 13 or 15 Percent”
http://www.youtube.com/watch?v=I3TlNsPFkyE

Pelosi: Unemployment compensation creates jobs
http://www.youtube.com/watch?v=WUAG3Fqz56s

So this is great news and we should be happy! More unemployment compensation! Jobs are being created!

Why do I feel like I’m living the movie Idiocracy?

[ClearCase_guy]

the unemployment rate edged down to 9.5 percent

The way they count this number is wrong. The unemployment situation is getting worse, and if the rate is improving, then something is wrong with the methodology being used to track it. They know that, but it makes them look good, so they won't try to fix it.

[God luvs America]

i read previews yesterday to see what economists were hoping for today- the big number was the gain in private sector jobs...they were hoping for a minimum of +100K upwards of +180K....only +83K private sector jobs were created...

[Gondring]

It was just a bunch of people listening to wily ol’ Joe Biden... He told them the jobs aren’t coming back, so they just gave up looking.

[God luvs America]

didn’t zero say it was a good thing when unemployment edge up t0 9.9% a few months ago??? it meant more people entered the work force???? let’s hear that morons spin today....

[Chuck54]

Once again I ask, how are there less jobs and yet unemployment number goes DOWN?

No mystery to me. The Bureau of Labor Statistics is juggling the numbers to try and elect Democrats in November. Watch the July, August, September & October numbers continue to be manipulated downward to show about a 7.9% unemployment rate by the elections in November.

Bank on it.

[listenhillary]

Thomas Sowell wrote the following back in the mid 1990s:

From FR thread Obama's Speech in Racine Channeled Thomas Sowell circa 1996, (and not in a good way)
http://www.freerepublic.com/focus/f-bloggers/2545511/posts

[newnhdad]

I think they adjusted the May numbers up to 9.9% so it’s a bigger gain in employment than first reported. Wow, this is great news.(sarc) At least it’s not 10%.. But give him time, he’s destroying the economy at a rate the former Soviets are envious of.

[relictele]

It bears repeating: were the GOP in power in either the Congress or the White House the MSM would be in full throat about this crisis.

[An.American.Expatriate]

"Once again I ask, how are there less jobs and yet unemployment number goes DOWN?"

Once unemployment benefits expire - you are no longer considered unemployed! So MORE people fell off the back end of line than entered.

[Oceander]

Once again I ask, how are there less jobs and yet unemployment number goes DOWN?

So confused.

It is confusing - it's intended to be - so don't feel too bad. Basically, what the so-called "unemployment" number reports is the number of people filing unemployment claims. So, even if employers are reporting fewer actual jobs (i.e., number of new hires dropped, or number of new hires is less than number of new fires), if more people have stopped filing unemployment claims - in this case, because they've used up their maximum benefit - than the number of people who have filed new unemployment claims (on account of having just been let go), then you will see both a drop in the total number of jobs and a drop in the so-called official rate of unemployment.

The system works tolerably well as a proxy for real unemployment during normal times - when the political party in charge is not actively trying to destroy the economy - but in times such as those we are now suffering through, the so-called official rate of unemployment is more of a lie than an accurate statistic (which is, of course, what the democrats are currently using it as - a figleaf to disguise the true rate of current unemployment - counting all those who have lost unemployment benefits and have simply given up looking for work until we get rid of the democrats - which is somewheres around 20% to 25%).

[PogySailor]

“Chocolate rations increase from 10 to 8 per month!”

[Lee'sGhost]

People quit looking for jobs.

[andy58-in-nh]

I have the numbers now. Holy crap. As you noted, the number of people who are now counted as "not in the labor force" increased from May to June by 842,000. Now, look at the increase in the number of people not in the labor force since June 2009: 3,054,000. Over three million people dropped out of the labor force since last June - and that, folks is how you keep the "official" unemployment rate below 10%. Lying with statistics for dummies.

[C19fan]

You do have people who are no collecting UI but are considered unemployed because they are looking for a job, for example college graduates.

[Never on my watch]

If someone gives up looking for work they are still unemployed.

[TomGuy]

A few weeks from now we will probably get a little Friday night blurb that will “unexpectedly” adjust the numbers up to 9.8 or 9.9.

Yesterday morning, FoxNews was saying that the new UE rate was 9.9%.

FEDs play with those numbers and 'readjust' according to need. They have to 'adjust' because Team Obama does not want the number to be 10% or more, for political reasons.

[C19fan]

If someone gives up looking for work they are still unemployed.

Actually according to BLS methodology you are no longer unemployed in that situation.

[mikeandike]

Unemployment is down because more people are hopelessly out of work! Go figure.