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.

[wiggen]

They take us for fools.

[aegiscg47]

Does anyone know of an article or study that shows what this is doing to the tax base? With millions of people falling off the unemployment rolls there surely must be a major hit to the state and federal tax revenues. This in turn could cause even more unemployment in the near future since many state and local governments will need to let go workers. Am I missing something here?

[Oceander]

I didn't say it was limited to that; try reading something other than your own preconceived notions.

Clearly, as ought to have been obvious to even a liberal, I oversimplified the case so that the confused could try and get a handle on what was going into the statistic - to the extent that you want to make that a more nuanced statement - great, pile on in - but don't go off all half-cocked putting words into my mouth that I didn't say. And to cut you off at the pass before you get there - yes, I did say that it was, in general terms, based on the numbers of people filing unemployment claims - I did not, however (as you are implying I did) say that it was limited to that.

[unkus]

Even if we win the House and Senate this Nov., I don’t think it’s going to matter very much.

[tx_eggman]

Can we please stop accepting the inside-the-beltway premise that unemployed people are not unemployed.

People that have quit looking were removed from the statistics in 1994 - during The Stain's® watch.

[unkus]

Santelli on CNBC is pissed off!

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What did he say?

[unkus]

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.

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I agree. But if people vote with their pocket books, the Rats are sunk.

[Flint]

c19fan, When people receiving unemployment benefits use them up, they no longer receive unemployment compensation. When they no longer receive unemployment compensation they are dropped from the unemployment rolls.

So anyone who was receiving unemployment compensation and is now no longer, is not in the numbers.

I do know that the extension of unemployment benefits was to expire and I don't know if Congress extended it or not. If Congress didn't extend it then a lot of people dropped off the rolls in the last quarter.

[glennaro]

Until the Republican party again controls the Congress and/or the White House, the unemployment figure will not be reported at greater than 9.999999999 percent. (As the statistician says, “Torture the data enough and it will confess.”)

[C19fan]

From BLS Site:

Is the count of unemployed persons limited to just those people receiving unemployment insurance benefits?

No; the estimate of unemployment is based on a monthly sample survey of house-holds. All persons who are without jobs and are actively seeking and available
to work are included among the unemployed. (People on temporary layoff are included even if they do not actively seek work.) There is no requirement or question relating to unemployment insurance benefits in the monthly survey.

http://www.bls.gov/news.release/empsit.faq.htm

[ShandaLear]

Less people looking, more people dropping off the roles = a lower rate.

[ScottinVA]

Something sounds fishy. Unemployment drops when we lose jobs.

I think it's based on unemployment claims status. A lot of folks dropped off the rolls after Wednesday when the last round of extended unemployment payments dried up.

[mewzilla]

Thx for the link! It doesn’t say who actually conducts the surveys, does it...

[C19fan]

Call center in India, hee hee.

[anniegetyourgun]

You’re right...this prez is going to keep marching on his agenda of destruction & spreading chaos.

[C19fan]

I knew my Ph. D. in economics would come in handy, hee hee.

[NC28203]

>>>I didn't say it was limited to that; try reading something other than your own preconceived notions.

That wasn't aimed at you. You'll note the poster of #30, who was also addressed in my reply, wrote "Once unemployment benefits expire - you are no longer considered unemployed!"

I was just trying to clear up a common misperception for the confused poster as well as several others on this thread.

[C19fan]

From Legal Insurrection blog:

Obama Finally Figured Out How To Drop Unemployment Rate
So stifle the economy and scare employers into not hiring that people simply give up looking for jobs, and therefore are not counted in the unemployment rate.

http://legalinsurrection.blogspot.com/2010/07/obama-finally-figured-out-how-to-drop.html

[Oceander]

My apologies then. I have apparently not imbibed my minimum daily requirement of caffeine. I hope you’ll forgive my lapse in typing while decaffeinated!

[mewzilla]

LOL!

Seriously, though, while I understand the reason for not relying on a survey based on payroll numbers, seems to me a household telephone survey conducted by the Census Dept could be easily messed with to achieve desired results.