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Old 12-17-2008, 11:33 AM
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Default NJ Unemployment
NorthJersey.com: State's unemployment rate hits 12-year high

Well, I guess those who felt the media was blowing the economic crisis out of proportion are really silenced by now. The latest local hit....
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Old 12-17-2008, 12:45 PM
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The unemployment rate, which rose from 6.0 percent in October to 6.1 percent
Quote:
The nation has lost 1.38 percent of its jobs this year, compared to 0.84 percent lost in New Jersey.
Ok.... so who else is confused by the "math" being used here?
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Old 12-17-2008, 02:01 PM
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Nation lost 1.38% of jobs total. All jobs in nation/jobs lost = 1.38%.
NJ lost .84% of its jobs. NJ jobs/NJ jobs lost = .84%.

That is how I see the numbers at a quick glance.
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Old 12-17-2008, 02:32 PM
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Quote:
Originally Posted by NatasNJ View Post
Nation lost 1.38% of jobs total. All jobs in nation/jobs lost = 1.38%.
NJ lost .84% of its jobs. NJ jobs/NJ jobs lost = .84%.

That is how I see the numbers at a quick glance.
Less than 1% total loss of jobs for the year for NJ.

Magically, the unemployment rate rose by grater than 1.1% - nearly 2% (was 4.5% in January).

How does the unemployment rate go from 4.5% to 6.1% with .84% total jobs lost for the year?

EDIT - 6.1 - 4.5 = 1.6.

1.6 = approx. 2 x .84.

This is the magical math I refer to.
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Old 12-17-2008, 03:51 PM
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EEEEEEEEEEEEEEEE - hon....we need to go out and polish off a bottle of ketel one! stop bringin' us all down!!! LOL
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Old 12-17-2008, 03:55 PM
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EEEEEEEEEEEEEEEE - hon....we need to go out and polish off a bottle of ketel one! stop bringin' us all down!!! LOL
I was already down after spending the weekend with friends... two getting laid off after december... one closing her business after 18 yrs!... all others said that they are ok at least until the end of december. It sure is getting ugly! I have a feeling the number will get even larger after the New year.
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Old 12-17-2008, 04:09 PM
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The extension for unemployment benefits in NJ is 20 weeks (13+7) currently. I thought I read somewhere if the rate is 6% for 3 months in a row, the extension could go longer. Anyone read anything about this? Maybe they might add 6 more weeks to bring it to a full 26 weeks extension.
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Old 12-17-2008, 04:24 PM
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Originally Posted by wileynj View Post
I was already down after spending the weekend with friends... two getting laid off after december... one closing her business after 18 yrs!... all others said that they are ok at least until the end of december. It sure is getting ugly! I have a feeling the number will get even larger after the New year.
you'll have to help with the bottle too
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Old 12-18-2008, 11:26 AM
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We can have a virtual drinking party during the upcoming snow....
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Old 12-18-2008, 11:57 AM
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Go to Michigan if you want to see huge pain. Its bad here. I have friends in MI. MI is imploding. OH is not much better.
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