Deal reached on unemployment, payroll tax cut

cbs ^ | 2/16/2012 | ap

[tobyhill]

Relieved congressional bargainers say they've reached agreement on compromise legislation extending payroll tax cuts and benefits for the long-term unemployed through 2012, edging a white-hot political battle a major step closer to finally being resolved.

Rep. David Camp, R-Mich., and Sen. Max Baucus, D-Mont., the two top negotiators, strode from a conference room minutes after midnight Thursday to say that only technical issues and the drafting of legislative language remained. The bill would assure a continued tax cut for 160 million workers and jobless benefits for several million others, delivering top election-year priorities for President Barack Obama.

"It's a very good deal for the country," said Baucus, who chairs the Senate Finance Committee.

[therut]

Agree. Employers pay the whole tab. Also we had to pay more this year and will for several years cause the STATE borrowed money from the FEDS to fund the system. I think everyone should get to play employeer for awhile and just see where the money goes in a business. This is just one place .gov has their hands.

[1rudeboy]

Good God. It's staring at you there, in plain English: unemployment compensation has nothing to do with the way the unemployment rate is calculated.

Don't quote my dispositive source back at me, and claim it means something else. Seriously.

[Brown Deer]

ARE YOU A MORON?

The original statement made was, "Because of the way they calculate U3, this (should) ironically make the U3 start shooting back up as tons of people reapply for benefits."

YOU replied, "The above is incorrect. Completely. Where does this misconception come from?"

The fact is, U-3 is the total unemployment rate. Persons are classified as unemployed if they do not have a job, have actively looked for work in the prior 4 weeks, and are currently available for work.

When people who left the workforce, reapply for unemployment compensation, they will then again be counted as part of the unemployed. This in turn will raise the unemployment rate!

Seriously!

Don't tell me what I can quote and can't quote! Obviously, you don't know what you are talking about.

[1rudeboy]

Ok, let me run this by you again, slowly.

Whether or not you apply for unemployment insurance, continue employment insurance, or run out of unemplyment insurance, has nothing to do with the way the unemployment rate is calculated.

It might affect the unemployment rate, for the reasons you mention, but it could just as easily affect it downward, WHICH IS WHY THE DATA IS NOT USED.

Hilarious.

[Brown Deer]

Whether or not you apply for unemployment insurance, continue employment insurance, or run out of unemplyment insurance, has nothing to do with the way the unemployment rate is calculated.

Pay attention, dumbo!

Persons are classified as unemployed if they do not have a job, have actively looked for work in the prior 4 weeks, and are currently available for work.

Persons not in the labor force are those who are not classified as employed or unemployed during the survey reference week.

unemployment rate = number unemployed / number in labor force

When a person doesn't find a job and runs out of unemployment insurance and stops looking for work, then after four weeks they are NO longer included in the unemployed or as part of the labor force!

Now that same person is offered additional unemployment benefits. So that same person files for unemployment benefits and begins to look for work again. So, that same person is now again part of the workforce and is also included as one more unemployed person in that same calculation above!

The fact of the matter is that there are millions of people that have recently dropped off of those counted as unemployed because they have stopped looking for work. That is why the unemployment rate has recently dropped.

Are you really too dense to understand this?

[1rudeboy]

Oh, you are such a genius, by explaining to me how the labor force participation rate is calculated, when we are speaking of something completely different.

It's as if I point out that apples are different from oranges, and some imbecile parachutes onto the thread to explain that it is possible to grow apples on orange trees.

What's next, "Vote Ron Paul?" LOL

[Brown Deer]

You really are that stupid?

[1rudeboy]

No, unlike yourself, English is not my second language. I understand the difference between factors that affect the unemployment rate, and factors that are used to calculate the unemployment rate.

Your level of stupid is weapons-grade. I fully expect you to return and try to explain to me the context of the conversation I was having with the others, and how your context is now the context.

[Brown Deer]

I understand the difference between factors that affect the unemployment rate, and factors that are used to calculate the unemployment rate.

Sorry, but you have no idea what U-3 is and how that is used to calculate the unemployment rate!

Come back when you finish high school kid.

[1rudeboy]

Funny, I was thinking the same thing. There must be a community college in you area that offers Intro to Econ. If you are a senior citizen, and I suspect you are, then you might even be able to take the class for free.

But I'll repeat, once again. Unemployment compensation, in any form, does not factor into how U-3 is calculated.

[Brown Deer]

Exactly. Because of the way they calculate U3, this (should) ironically make the U3 start shooting back up as tons of people reapply for benefits.

That's exactly right!

U-3 Total unemployed, as a percent of the civilian labor force (official unemployment rate)

[Brown Deer]

Get ready to see a spike in the unemployment numbers because suddenly these people are counted again.

You got that right!

[1rudeboy]

Exactly wrong. I explained why, so don’t let others confuse you.

[1rudeboy]

tobyhill, for example, appears to understand the point I am making . . . what's your excuse?

[Lancey Howard]

I’ve been unemployed for almost 4 months, did not apply for unemployment

???

Why on earth not??
You better get back from scumbag government every last dime you can before the Democrat "base" of parasites gobbles it all up.

[Brown Deer]

I think he understands very clearly that you’re a dumb troll.

[rarestia]

Well first and foremost, I resigned from my job, I wasn’t fired. That alone precludes me from applying.

If I was eligible, however, I still would not take it, as I don’t feel any more entitled to it than anyone else. I had plenty of cash in savings, and aside from a Christmas blowout, the money’s kept the bills paid.

It’s wonderful being debt free and responsible with money. Thus, I don’t even want to crawl to big guv for $$. What I have, I earned by my own hard work.

[1rudeboy]

And finally, we get to "anyone who demonstrates I am incorrect must be a troll." I'm surprised it took so long.

I think the source of your confusion is your assumption that, when people run-out of unemployment they stop looking for work, "disappearing" them from the calculation of the unemployment rate. Your problem is that not all of them do, and you don't know how many continue looking.

So the notion that there will be a "spike" in the unemployment rate as a result of the extension of unemployment compensation is unproven, and unprovable. And I demonstrated why.

[Brown Deer]

And finally, we get to "anyone who demonstrates I am incorrect must be a troll." I'm surprised it took so long.

took so long? not the first time, I've called you out, loser.

I think the source of your confusion is your assumption that, when people run-out of unemployment they stop looking for work, "disappearing" them from the calculation of the unemployment rate.

I'm not at all confused. It's you who is confused.

Your problem is that not all of them do, and you don't know how many continue looking.

Why would you think that is my problem?

So the notion that there will be a "spike" in the unemployment rate as a result of the extension of unemployment compensation is unproven, and unprovable.

Actually it is.

And I demonstrated why.

You've only demonstrated your stupidity.

[Toddsterpatriot]

Unemployment calculations and the difference between sucrose and HFCS catch an unbelievable number of goofy comments.
You’re right, no matter how many times you explain it, the same clowns make the same mistakes, over and over.