Quote:
Originally Posted by Elliott_CA
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Quote:
Originally Posted by Elliott_CA
Your insulting reply is uncalled for. Nowhere in my post did I state what caused the uptick in the unemployment rate. I merely shared two items of economic news. Any linkage between the two items is entirely in the mind of the reader.
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You're being disingenuous, since your intent was to show a link.
It is impossible for workers who lost their jobs in June to be part of the July Employment Situation report.
It's also highly unlikely they would be part of the August Employment Situation report. That's because the Current Population Survey and the Current Employment Statistics Survey are conducted on the 15th of the month.
If you were employed at any time during the 30 days prior to the survey, you're counted as "employed."
That means that, if during the 30 days prior to the Survey, you were employed on Day #1, lost your job on Day #2, filed for unemployment benefits on Day #17 and then applied for a job on Day #23, you're counted as "employed."
The number of working Americans increased by 456,000, from 156,009,000 to 156,465,000.
The number of Americans not in the labor force decreased by 1,324,000 from 95,689,000 to 94,365,000.
That resulted in a corresponding increase in the civilian labor force of 1,512,000 from 161,765,000 to 163,277,000, adding in new entrants to the work force primarily from graduating high school and college seniors.
Naturally, that resulted in an increase of 1,056,000 in the number of unemployed from 5,756,000 to 6,812,000 since 1,056,000 new jobs weren't created.
That is what caused the UE Rate to rise, not job losses.
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) Towns are suddenly bursting with jobs. YES!
