Unemployment fell

[SacrosanctFiend]

Originally posted by: Special K

Originally posted by: Martin

Originally posted by: Skoorb
It is meaningful that people stopped looking for jobs; they won't thus help the GDP with their earnings, but I always wonder who gives up looking for a job? I mean really, talk about sad. That's just pitiful, even if you've been out of work for 12 months what are you doing then? Just going to eat worms out of the grass or something?

You should read up on the various definitions of "unemployment" the government uses. The essence of it is that, even if you're desperate and you're looking and want a job, they'll still classify you as "marginally attached" or some such bullshit in order to make the U3 ("official unemployment") rate look better.

Here, use this handy flowchart:
http://www.nakedhedgefund.com/...oyment-rate-flowchart/

How does the government know you are looking for work? What actions constitute "looking for work" and are trackable by the government?

They base it off of a household survey with a sample size of 60,000.

The sample is selected to reflect the entire
civilian noninstitutional population. Based on responses to a series of
questions on work and job search activities, each person 16 years and over
in a sample household is classified as employed, unemployed, or not in the
labor force.

People are classified as employed if they did any work at all as paid
employees during the reference week; worked in their own business, pro-
fession, or on their own farm; or worked without pay at least 15 hours
in a family business or farm. People are also counted as employed if they
were temporarily absent from their jobs because of illness, bad weather,
vacation, labor-management disputes, or personal reasons.

People are classified as unemployed if they meet all of the following
criteria: They had no employment during the reference week; they were
available for work at that time; and they made specific efforts to find
employment sometime during the 4-week period ending with the reference
week. Persons laid off from a job and expecting recall need not be
looking for work to be counted as unemployed. The unemployment data
derived from the household survey in no way depend upon the eligibility
for or receipt of unemployment insurance benefits.

The civilian labor force is the sum of employed and unemployed persons.
Those not classified as employed or unemployed are not in the labor force.
The unemployment rate is the number unemployed as a percent of the labor
force. The labor force participation rate is the labor force as a percent
of the population, and the employment-population ratio is the employed as a
percent of the population.

 

[dmcowen674]

Thank god for the Messiah

 

[DesiPower]

good news for chinese and indians they can start siphoning again!!!

 

[theeedude]

Oh, Oh, what are the the people who were parading that stupid chart gonna whine about now?

 

[sandorski]

It's a flawed Statistic and the same reason that Unemployment fell many times during the Bush Admin unexpectedly despite contrary data.

 

[dmcowen674]

Originally posted by: sandorski
It's a flawed Statistic and the same reason that Unemployment fell many times during the Bush Admin unexpectedly despite contrary data.

Now it's flawed but under Bush was GOSPEL eh?

 

[sandorski]

Originally posted by: dmcowen674

Originally posted by: sandorski
It's a flawed Statistic and the same reason that Unemployment fell many times during the Bush Admin unexpectedly despite contrary data.

Now it's flawed but under Bush was GOSPEL eh?

I called it flawed under Bush as well.

 

[IGBT]

obama willing accomlices are cooking the books. unemployment is around 16%.

 

[SacrosanctFiend]

Originally posted by: IGBT
obama willing accomlices are cooking the books. unemployment is around 16%.

They aren't cooking the books, it's a different measurement.

 

[Patranus]

This number does not include the "underemployed" IE the people who might have a part time job but are looking for full time work.

 

[theeedude]

Economy is improving y'all Face it, even if you hate Obama, it's good for America.

 

[Ronstang]

Originally posted by: senseamp
Economy is improving y'all Face it, even if you hate Obama, it's good for America.

The economy improving IS good for America and has nothing to do with Obama, if it is actually happening. These numbers prove nothing since we still lost over 200K net jobs so this number is rather dubious. Obama IS bad for America. People are finally starting to figure this out.

 

[theeedude]

Originally posted by: Ronstang

Originally posted by: senseamp
Economy is improving y'all Face it, even if you hate Obama, it's good for America.

The economy improving IS good for America and has nothing to do with Obama, if it is actually happening. These numbers prove nothing since we still lost over 200K net jobs so this number is rather dubious. Obama IS bad for America. People are finally starting to figure this out.

Stimulus is working. Happy days are here again.

 

[sandorski]

Originally posted by: Ronstang

Originally posted by: senseamp
Economy is improving y'all Face it, even if you hate Obama, it's good for America.

The economy improving IS good for America and has nothing to do with Obama, if it is actually happening. These numbers prove nothing since we still lost over 200K net jobs so this number is rather dubious. Obama IS bad for America. People are finally starting to figure this out.

Bush was bad for America. Obama is hella busy trying to fix Bush's fuck ups.

 

[Jaskalas]

Originally posted by: sandorski
Bush was bad for America. Obama is hella busy trying to fix Bush's fuck ups.

Or hella busy trying to outdo him.

 

[Ronstang]

Originally posted by: sandorski

Originally posted by: Ronstang

Originally posted by: senseamp
Economy is improving y'all Face it, even if you hate Obama, it's good for America.

The economy improving IS good for America and has nothing to do with Obama, if it is actually happening. These numbers prove nothing since we still lost over 200K net jobs so this number is rather dubious. Obama IS bad for America. People are finally starting to figure this out.

Bush was bad for America. Obama is hella busy trying to fix Bush's fuck ups.

Nothing Obama is doing is going to fix anything, hell it isn't even intended to. If it was he wouldn't need to be on TV everyday trying to sell (ram down our throats) his BS programs. This is all about a perceived opportunity for liberals to quickly enact all their wet dream wishes of the last 50 years. You really are a blind fool.

 

[sandorski]

Originally posted by: Ronstang

Originally posted by: sandorski

Originally posted by: Ronstang

Originally posted by: senseamp
Economy is improving y'all Face it, even if you hate Obama, it's good for America.

The economy improving IS good for America and has nothing to do with Obama, if it is actually happening. These numbers prove nothing since we still lost over 200K net jobs so this number is rather dubious. Obama IS bad for America. People are finally starting to figure this out.

Bush was bad for America. Obama is hella busy trying to fix Bush's fuck ups.

Nothing Obama is doing is going to fix anything, hell it isn't even intended to. If it was he wouldn't need to be on TV everyday trying to sell (ram down our throats) his BS programs. This is all about a perceived opportunity for liberals to quickly enact all their wet dream wishes of the last 50 years. You really are a blind fool.

Fail.

 

[Engineer]

Originally posted by: CPA
It's nice to see the government can add 7,000 people to their payroll though.

IIRC, that was the only employment (government) added during the previous 8 years. Private sector jobs are down for the last 10 years.

Good news as it was expected to have another big rise. Hopefully, it will drop more over the next few months. Tired of this shitty economy.

 

[lokiju]

Originally posted by: Martin
Here, use this handy flowchart:
http://www.nakedhedgefund.com/...oyment-rate-flowchart/

Holy shit!

 

[Patranus]

Originally posted by: Engineer

Originally posted by: CPA
It's nice to see the government can add 7,000 people to their payroll though.

IIRC, that was the only employment (government) added during the previous 8 years. Private sector jobs are down for the last 10 years.

Good news as it was expected to have another big rise. Hopefully, it will drop more over the next few months. Tired of this shitty economy.

Um....are you high?
According to


According to the Bureau of Labor Statistics in January 1999 there were 127 million jobs.
According to the same Bureau of Labor Statics in July 2009 there are 141 million jobs.

That would be PLUS 14 MILLION jobs AFTER all of these job losses.

http://www.bls.gov

 

[Pens1566]

Originally posted by: Patranus

Originally posted by: Engineer

Originally posted by: CPA
It's nice to see the government can add 7,000 people to their payroll though.

IIRC, that was the only employment (government) added during the previous 8 years. Private sector jobs are down for the last 10 years.

Good news as it was expected to have another big rise. Hopefully, it will drop more over the next few months. Tired of this shitty economy.

Um....are you high?
According to


According to the Bureau of Labor Statistics in January 1999 there were 127 million jobs.
According to the same Bureau of Labor Statics in July 2009 there are 141 million jobs.

That would be PLUS 14 MILLION jobs AFTER all of these job losses.

http://www.bls.gov

And now recheck the #s taking into consideration the growth of employable population as well.

 

[Special K]

Originally posted by: lokiju

Originally posted by: Martin
Here, use this handy flowchart:
http://www.nakedhedgefund.com/...oyment-rate-flowchart/

Holy shit!

So according to that chart, it's entirely possible that this apparent drop in unemployment could just be the result of a large number of unemployed people being cut out of the unemployment statistic?

I suppose it could also be due to jobs created from stimulus spending, but will those jobs last?

I'm not saying I think things are going to suddenly get much worse, but the improved unemployment rate does seem somewhat suspicious.

 

[Engineer]

Originally posted by: Patranus

Originally posted by: Engineer

Originally posted by: CPA
It's nice to see the government can add 7,000 people to their payroll though.

IIRC, that was the only employment (government) added during the previous 8 years. Private sector jobs are down for the last 10 years.

Good news as it was expected to have another big rise. Hopefully, it will drop more over the next few months. Tired of this shitty economy.

Um....are you high?
According to


According to the Bureau of Labor Statistics in January 1999 there were 127 million jobs.
According to the same Bureau of Labor Statics in July 2009 there are 141 million jobs.

That would be PLUS 14 MILLION jobs AFTER all of these job losses.

http://www.bls.gov

Not high, just very tired (drove from Toronto to Kentucky starting at 3:00am this morning). I should have been more specific stating from the start of Bush's first term to now.

132,469,000 01/01 (Approx start of Bush's term).
131,488,000 07/09 (now)

134,333,000 01/09 (End of Bush's terms)

Numbers taken from here...

http://data.bls.gov/PDQ/servlet/SurveyOutputServlet

How many "Private jobs" were created in any of those spans? IIRC (If I Recall Correctly - which I stated clearly in my previous post), private jobs added were nil. Government accounted for the majority (if not all) job growth during that period.

I can't seem to find the numbers that you posted and they don't match up with the numbers from the Database. Maybe I'm looking in the wrong spot.

Also,

Government jobs: 20,753,000 01/01
Government jobs: 22,447,000 01/09

Total jobs created from 01/01 to 01/09:

134,333,000 01/09 (End of Bush's terms)
-132,469,000 01/01 (Approx start of Bush's term).

1,864,000 total jobs

Government net jobs during same period:
22,447,000
-20,753,000
1,694,000

So a gain of 170,000 private jobs. The remaining were from Government jobs.

Note: These numbers are pulled from the BLS databases from the BLS site that you linked.

 

[Patranus]

Originally posted by: Special K

Originally posted by: lokiju

Originally posted by: Martin
Here, use this handy flowchart:
http://www.nakedhedgefund.com/...oyment-rate-flowchart/

Holy shit!

So according to that chart, it's entirely possible that this apparent drop in unemployment could just be the result of a large number of unemployed people being cut out of the unemployment statistic?

I suppose it could also be due to jobs created from stimulus spending, but will those jobs last?

I'm not saying I think things are going to suddenly get much worse, but the improved unemployment rate does seem somewhat suspicious.

LOL - I like this one more

http://www.fundmasteryblog.com...mployment-stimulus.JPG

 

[Engineer]

Originally posted by: Patranus

LOL - I like this one more

http://www.fundmasteryblog.com...mployment-stimulus.JPG

I'm fucking glad that you enjoy seeing people lose their jobs all in the name of "it's not my side in control right now". :roll: