Another Disappointing Jobs Report: +115,000 (Participation Rate Lowest in 30 years) (interstates, generations, legal)
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What are the basic concepts of employment and unemployment?
The basic concepts involved in identifying the employed and unemployed are quite simple:
People with jobs are employed.
People who are jobless, looking for jobs, and available for work are unemployed.
People who are neither employed nor unemployed are not in the labor force.
In other words, if you lost your job, can't find a job, and your unemployment compensation runs out, then we no longer count you, and the unemployment numbers just improved by one person. So if a million or so folks drop off the radar, and are no longer counted as a part of the work force, then we see a corresponding dip in the unemployment numbers, from 8.3% to 8.1%.
If only 3 million people would give up looking for work, because they simply cannot find a job... then we may get to 7% unemployment....yippee!!!!
375,000 people a week file for unemployment.
Only 115,000 new jobs in a month.
So how does the BLS get the unemployment rate down again. Easy- just stop counting long term unemployed people as being available. A smaller pool of people means less people looking and less people unemployed. Problem fixed. Anyone want to wager what the % will be the Friday before election day?
Here is how it works:
100 jobs are dropped off payroll
150 jobs are added to the payroll
This shows up as: Employers add 50 jobs to their payroll. And also know that the number often quoted is non-farm payroll, which include government and private sector payroll. If you went by private payroll, 130K jobs were added in April. But since we notice an increase of 119K jobs, it is because government payroll shrunk by 11K.
What are the basic concepts of employment and unemployment?
The basic concepts involved in identifying the employed and unemployed are quite simple:
People with jobs are employed.
People who are jobless, looking for jobs, and available for work are unemployed.
People who are neither employed nor unemployed are not in the labor force.
In other words, if you lost your job, can't find a job, and your unemployment compensation runs out, then we no longer count you, and the unemployment numbers just improved by one person. So if a million or so folks drop off the radar, and are no longer counted as a part of the work force, then we see a corresponding dip in the unemployment numbers, from 8.3% to 8.1%.
If only 3 million people would give up looking for work, because they simply cannot find a job... then we may get to 7% unemployment....yippee!!!!
This is different from how it's been measured for decades, just how?
I say they are intentionally cutting people from the rolls that should still be a part of the labor force.
People...its ALL about getting the UE rate down..so obama AND the media can tout how much it has dropped, but NOT how many people (tens of millions) have been lopped off the rolls.
The question to ask; SHOULD obama's BLS be reducing the labor force by so much?
5% UE rate by the fall? What do you think?
I really don't think they should change the formula for determining the unemployment rate because you need the formula to stay consistent for trending puposes and historical purposes but I think they should report the other numbers, too, and trend that data.
I really don't think they should change the formula for determining the unemployment rate because you need the formula to stay consistent for trending puposes and historical purposes but I think they should report the other numbers, too, and trend that data.
I really don't think they should change the formula for determining the unemployment rate because you need the formula to stay consistent for trending puposes and historical purposes but I think they should report the other numbers, too, and trend that data.
The BLS does report multiple computations of UE numbers and their trends. There is a lot of information on their site.
I stand by my statement. The GOP wants to hammer Obama about employment but doesn't support policies that would improve employment.
The GOP prescription is the same, no matter what the problem, tax-cuts for the rich and corporations and cut government spending. Perhaps someone can explain to me how firing federal and state workers plus cancelling government contracts -- whose companies then fire their employees, improves employment?
It is never going to happen.
Border states are highly dependent on that trade to boost their economies.
And, a lot of Americans do get jobs as a result on both sides of the borders.
"Texas has become the first state to exceed $10 billion in monthly surface trade with Mexico ..."
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