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Unemployment data, this makes no sense...

G

Gunnar

Senior member

"The U.S. Labor Department said non-farm payrolls fell 101,000 in December instead of a gain of 32,000 expected by Wall Street. November jobs were also revised downward. The unemployment rate remained stable at 6 percent."

What the hell? The US cuts 101.000 jobs and unemployment holds steady? What does this mean? It sounds like we lost 101,000 jobs and the same number of people are unemployed. That doesnt make sense to me.
 
well if non-farm payrolls fell 101k, then I guess "farm" payrolls, whatever that is, went up roughly the same amount.
keep in mind I don't have the slightest clue what I'm talking about though.
 
Unemployment is calculated by a statistical survey that asks whether or not you are employed, and if not, are you currently engaged in an active job search (ie, going to interviews, sending off resumes, that sort of thing). If you are engaged in an active job search, you are unemployed. If you are sitting on your ass at home watching Star Trek reruns, you technically are not unemployed, at least according to official government statistics. Officially, you are out of the work force. So, what probably happened was some people became fed up with their job search, stopped, and those people offset the 100k loss of jobs to keep unemployment stable at 6%. Believe it or not, those bums that sleep on park benches asking for money to support their drinking habit are not considered unemployed by the government statisticians.
 
Someone that doesn't WANT to work shouldn't be considered unemployed nor should they recieve any of the benefits of being considered unemployed.
 
The 101,000 laid off were probably hard working Republicans who promptly sought re-employment at a non-farming job; thus holding employment rates steady. 😛
 
Originally posted by: Dudd
Unemployment is calculated by a statistical survey that asks whether or not you are employed, and if not, are you currently engaged in an active job search (ie, going to interviews, sending off resumes, that sort of thing). If you are engaged in an active job search, you are unemployed. If you are sitting on your ass at home watching Star Trek reruns, you technically are not unemployed, at least according to official government statistics. Officially, you are out of the work force. So, what probably happened was some people became fed up with their job search, stopped, and those people offset the 100k loss of jobs to keep unemployment stable at 6%. Believe it or not, those bums that sleep on park benches asking for money to support their drinking habit are not considered unemployed by the government statisticians.
Click to expand...

yep

(looks like zakath hasn't taken a labor course yet 😛 )
 
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