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Pertinent, only because after eight years of democrats using the U5 and even U6 numbers to beat Bush over the head with, I just assumed that is what you guys went by. You are free to use whatever data the BLS puts out. Now that 0bama is president, I'm assuming you will not be using them any more?
Well, people may have been perturbed that unemployment was at 3.9% (5,634K) when Bush took over an economy with 117 consecutive months of expansion behind it, and it was higher than that on every single day of his eight years in office, ending up at 7.2% (11,108K).
Otherwise, the various series are the various series. There are reasons why the series most often referred to is the series most often referred to.
A truer picture of the employment crisis emerges when you combine the number of people who are officially counted as jobless with those who are working part time because they can’t find full-time work and those in the so-called labor market reserve — people who are not actively looking for work (because they have become discouraged, for example) but would take a job if one became available.
which is ****ing meaningless, with respect.
Bush 7.2% rate in December 2008, was what? 18%, 25%, 14.2225%?
It's meaningless to speculate on what the number "might be".
Latest I could find was 10/1 report on September numbers. This report lags big time from the other reports.
snippet:
"States reported 3,275,213 persons claiming EUC (Emergency Unemployment Compensation) benefits for the week ending Sept. 12, an increase of 99,832 from the prior week. There were 1,559,198 claimants in the comparable week in 2008. EUC weekly claims include both first and second tier activity. "
some figures to digest: http://economicedge.blogspot.com/200...nt-report.htmlThe civilian labor force dropped by a mind-boggling 1.28 million in September from August, with 235 thousand people being added to the workforce. The participation rate plunged .6% to 65.0%.
The employment-population ratio - the TRUE measure of employment in this nation - fell to 58.9%. The actual number of the unemployed rose by 285 thousand, while those not in the labor force jumped by 1.516 million.
And unemployment for those aged 16-19 years old skyrocketed in September to 25.8% from 24.2% in August. For this age group, the emp-pop ratio is just 26.2% with the participation rate falling off the cliff, from 40.7% to 35.3%.
This, by far, is THE WORST employment situation report I have ever read. Bar none.
I ran the numbers on how many jobs we have actually lost since December 2007 - the beginning of the recession-***-depression - and how many jobs we'd have to create each and every month for the next two years just to return to November 2007 levels…
I hope you are sitting down, have a good stiff drink at your side, and no firearms or sharp objects are within reach. And all small children are safely stowed away.
Jobs lost in the past 22 months total 8,039,000, while the non-institutionalized civilian adult population (i.e. those not in prison, or a mental hospital, etc.) has risen by 3,166,000. This brings the ACTUAL jobs lost number to 11,205,000.
Now, dividing 3.166m by 22 months roughly equals 144,000. This is the number of jobs that have to be created every month in order to keep up with the growth in population; taken times 24, this gives us 3,456,000 additional jobs that need to be created to keep up with population growth between now and September 2011.
Added together, this means we need to have 14,661,000 - or an average of 610,000 - jobs added to the economy by the above date to reach par with November 2007.
Last edited by floridasandy; 10-02-2009 at 03:46 PM..
Why weren't people whingeing on here when 500,000+ jobs went wallop in December 2008?
or
Why weren't people whingeing on here when 500,000+ jobs went wallop in November 2008?
1.1 million jobs lost in 2 months.
I thought we were in a recession in 2007.
I read the unemployment reports..they weren't bad numbers but the areas adding jobs was heavily in favor of government jobs and that offset the areas in private non-farm industries losing jobs.
which is ****ing meaningless, with respect. ... Stick to the official numbers.
Not meaningless at all. The easiest measure for everyone to comprehend is the official unemployment number - which is standing at ~9.8%. Typically if there is low unemployment and a stable economy, you do not need to be hypercritical of that number. However, during a period of a lousy economy, that number deserves a better anaylsis to get a clearer picture of the situation and to better gauge if stimulus and other gov't action is affecting it.
Not meaningless at all. The easiest measure for everyone to comprehend is the official unemployment number - which is standing at ~9.8%. Typically if there is low unemployment and a stable economy, you do not need to be hypercritical of that number. However, during a period of a lousy economy, that number deserves a better anaylsis to get a clearer picture of the situation and to better gauge if stimulus and other gov't action is affecting it.
Show me a post on this thread which claims that 9.8% unemployment is a good rate of unemployment? Or an acceptable rate of unemployment?
Waffling about percentages that are higher than the official rate, is conjecture/speculation.
Last edited by CaseyB; 10-06-2009 at 06:31 AM..
Reason: rude
some figures to digest: Nathan's Economic Edge: On Point – Unemployment Report…The civilian labor force dropped by a mind-boggling 1.28 million in September from August, with 235 thousand people being added to the workforce. The participation rate plunged .6% to 65.0%.
And unemployment for those aged 16-19 years old skyrocketed in September to 25.8% from 24.2% in August. For this age group, the emp-pop ratio is just 26.2% with the participation rate falling off the cliff, from 40.7% to 35.3%.
This, by far, is THE WORST employment situation report I have ever read. Bar none.
Um, those numbers are not seasonally adjusted. What you are seeing is kids leaving their summer jobs and going back to school. That pretty much happens every year.
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