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In this article it explains how the BLS uses flawed methodology to estimate unemployment numbers and how the real numbers are much worse than reported.
What I don't understand is that pretty much every person in the country knows the unemployment number is bogus, but the government keeps reporting them, like a bad magician doing magic tricks to a yawing audience who can see his smoke and mirrors as plain as day. When are we gonna boo the guy off the stage?!
The problem is unemployment/underemployment is a number that is very important to know to gauge economic activity, but there is no way to ever quantify it exactly. Accuracy is completely unattainable, as in relative to the true value, but precision is better, as in relative in comparison to each measured value (Accuracy and precision - Wikipedia, the free encyclopedia). The only quantifiable and precise measure, even though it's understated, is unemployment claims.
If there is a better quantifiable way to do it, I'm sure everyone is all ears to improve it. Otherwise it's just as productive pissing in the wind and complaining when you get all wet. Everyone knows it's a problem, there isn't much anyone can do, and just deal with it instead of making a big fuss that only makes you look even sillier.
The US media should just admit that we're really like Europe (with their chronic 12-15% unemployment rates), the difference being they count everyone. We play games and break the numbers up into a kajillion pieces, and pretend it's lower. Pretty stupid. And the more socialist we become, the more we're going to have to keep breaking up the pieces to keep the illusion up.
-I think the unemployment numbers after the 70's are basically broken. Before that time, we lived in a relatively stable system. Little to no debt, one income earner, solid US dollar.
-After that time, it's been a free fall from that system. More tricks and games to keep the illusion up. I dont think any of it is apples to apples, then vs now. We live in a different system. You're following numbers that are in free fall. Each recovery after the 70's has only been treading water.
If you count all the "kids?" over 18 living with mommy or daddy,and not going to school.Its 25% easy.All the jobs for 18 to real employment are filled by illegals.Why is that?
All the jobs for 18 to real employment are filled by illegals.
How do you know these people are illegal? Have you been doing document verifications?
There are millions of foreign born people in the US who are here legally. They most often have work permits. The US has given them permission to work in this country. These people are ostensibly accounted for in the employment statistics and are counted in the work force. Would you rather they be unemployed too?
Or perhaps you would prefer they collect food stamps? I'm guessing you'd whinge about that as well.
How do you know these people are illegal? Have you been doing document verifications?
There are millions of foreign born people in the US who are here legally. They most often have work permits. The US has given them permission to work in this country. These people are ostensibly accounted for in the employment statistics and are counted in the work force. Would you rather they be unemployed too?
Or perhaps you would prefer they collect food stamps? I'm guessing you'd whinge about that as well.
Well we could cancel there work visas and send them home, "Sorry but we Americans have to get our own citizens back to work now so you'll have to go home, have a nice flight,Bub bye."
If you count all the "kids?" over 18 living with mommy or daddy,and not going to school.Its 25% easy.All the jobs for 18 to real employment are filled by illegals.Why is that?
Nice diversion. Blame it on the boomerang kids. They're not staying at home because they're lazy, they're staying at home because it is more economically advantageous to put up with mom and pops while saving on rent than getting the chronic underemployment this economy has for them after college and have to tread water with it. This [two to a house] is actually the economic sound thing to do and says more about our social shift than the "morality" of the young people who you despise, but would give your left leg to be again.
I've said it before, we are seeing a shift to a europization of America. Two generations to a household will become commonplace in 30 years. Brazil or Spain, those are the two outcomes of this country. This may be problematic to those who prefer living in America precisely because we don't yet live two generations to a household. Better make arrangements to retire somewhere else then, 'cause single generation home ownership and dwelling is on its way out. To morally adjudicate this social shift on the one generation seeing it for the first time (Gen Y) in relevant numbers is a cop out.
As to unemployment numbers, they're bunk. There is no halfway decent measure of underemployment. These folks all show up as gainfully employed. I'm underemployed, yet I don't contribute to the unemployment figures as I should. The paradigm has shifted. If one were to even be able to account for underemployment, our numbers would make Europe look like the land of milk and honey.
Also with the boomerang kids staying with mom and dad, you had a once in 70 year real estate bubble contribute to that. The media likes to pile on and say they're lazy. A bunch of bunk.
-Just about every element in the world was thrown at the real estate bubble from 02-06/07. The media only scratches the surface with it....it was much more than just no doc, or alt a loans.
-In policy, we're like europe, but we have more land, more homes and completely different zoning and residential laws that contribute to one generation having a home. Vs everyone having a little apartment in europe.
-If gen y got a better education, they could look to home ownership. But they got the worst education of the 20th century, and they met the biggest real estate bubble of the 20th century....what a combination. They also got completely screwed on student loans, and not being able to discharge them in bankruptcy. Basically every stroke of the pen has been aimed at limiting gen y's upward mobility.
What are the real unemployment numbers? Who knows. Do we include all the people who cheat the system and have managed to never have held a job?
Medicare and welfare (corporate and social) are so ripe with fraud it is sickening!
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but we Americans have to get our own citizens back to work now so you'll have to go home, have a nice flight,Bub bye."
