BLS: 125,000 more jobs than in 2009

Discussion in 'Economy' started by longknife, Sep 30, 2012.

  1. longknife
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    longknife Platinum Member

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    The latest U.S. jobs report shows the country, for the first time, now has more people employed than when President Barack Obama took office in January, 2009.

    The latest Labor Department figures issued Friday counters one of Republican presidential candidate Mitt Romney's key talking points – that the nation has lost hundreds of thousands of jobs since the president took office and counter an Obama claim that he has added millions of jobs. Meanwhile, during the same period of time, Millions of Americans were added to those seeking work, and millions have given up finding work, reducing the official unemployment rate.

    Mr. Romney was campaigning in the political battleground state of Pennsylvania Friday as news that revised labor figures indicate that while 13 million workers are unemployed, U.S. employers have added almost 400,000 more jobs during the 12 months ending in March than previously estimated. The unemployment figures do not include more than 7 Million Americans who want work as of August of 2012 but had not filed an application in the previous 4 weeks, or more than 88 Million Americans that are of working age but not employed.

    That means the overall number of jobs in the U.S. labor market is now 125,000 higher than when Mr. Obama came into office, and that the jobs created since then offset those lost during his term. VoA.

    There are 8.8 Million more in the US Labor Market (working age Americans) in July 2012 versus January 2009. (243,566,000 in 2012 versus 234,832,000 in January 2009.) According to the BLS, only 142,101,000 Americans are working, or 58.3%.

    From BLS: 125,000 more jobs than in 2009 - War On Terror News

    Why is it that the headline hypes everything but the final paragraph makes it very clear?

    "Only 142 million Americans are working" out of 310M!!! 58%? C'mon, gimme a break!

    7 million want to work but didn't file unemployment applications
    and
    88 million Americans of working are WHO AREN'T WORKING!

    Why wasn't that the headline?
    :mad::mad::mad:
     
  2. expat_panama
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    expat_panama Silver Member

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    Last edited: Sep 30, 2012
  3. Matthew
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    Matthew Blue dog all the way!

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    Jesus...We have got to replace this idiot of a president.
     
  4. oldfart
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    oldfart Older than dirt

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    The blogger screwed up. The monthly BLS report comes out at 8:30 AM Eastern time on the first Friday of the month. Therefore the report for September will be issued this coming Friday. The data referred to in the post is the August report which came out September 7. It's always a good idea to check the BLS website directly (U.S. Bureau of Labor Statistics) as bloggers are always trying to slice and dice the figures and often screw it up as this blogger did.
     
    Last edited: Sep 30, 2012
  5. chikenwing
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    chikenwing Guest

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    Do you think much has changed in the last month?
     
  6. pinqy
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    pinqy Gold Member

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    No, it really doesn't.

    The Friday release was for the Quarterly Census of Employment and Wages (QCEW). Every employer who has to contribute to their state UI program has to file each month employees and wages. BLS takes this adminitstrative data for the QCEW. There's a big time lag as you can see that March 2012 data was released in the end of September.

    The Official Employment figures (non-farm payroll jobs) comes from a monthly survey, the Current Employment Statistics. Every year it is benchmarked to the QCEW...so what the economists at BLS are doing now are looking at the CES figure for March 2012 (132,863,000) and comparing it to the QCEW figure of 130,175,400, making adjustments for seasonality, and differences in coverage and definitions, so that for the January 2013 release, all the numbers from March 2012 on will be benchmarked to the March 2012 QCEW figures.

    It cannot be said at this time whether or not that will mean that the current data (Sept figures will be released this Friday) will ultimately be higher or lower than the Jan 2009 number.


    Unemployed is defined as did not work during the survey reference week, but actively looked for work in the previous 4 weeks. Note that that's "looked for work" NOT "filed an applicatio." Actively looking means writing or answering a job ad, interviewing, asking friends or family for job leads, being on the union list for jobs. Those on temporary layoff expecting recall don't have to have looked.

    So there are 88,921,000 people aged 16 and over who are not in prison or an institution who neither worked nor looked for work. Of those, 6,957,000 say they want a job, but aren't looking for one. Almost half haven't tried to get a job in over a year. Just under a million couldn't take a job if offered. Most of the rest stopped looking for personal reasons (not because they couldn't find work).

    No, that's not what it means.

    No, those numbers are for the Adult Civilian Non-Institutional Population. As was already pointed out, almost 89 million of the population (mostly retirees, students, and disabled) aren't trying to work. They're not part of the Labor Market.


    Well, out of that 310 million, many are under 16, in jail, in the military, or in an institution, so not counted as part of the Adult Civilian Non-Institutional Population, which is 243,566,000
    That breaks down to 142,101,000 working
    12,544,000 Looking for work.
    89 million neither working nor looking for work (most of whom say they don't want to work).

    Say they want to work but aren't doing anything about it.

    There's no upper age limit, so that 88 million "working age who aren't working" includes over 34 million people 65 years and older, and about 5 million disabled under 65 years. Plus full time students, housewives, etc.
     
    Last edited: Oct 1, 2012
  7. expat_panama
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    expat_panama Silver Member

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    When it comes to money I like thinking about what is; namely, things usually change from month to month and it's more reasonable to expect things that have happened before to happen again.
     
  8. expat_panama
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    expat_panama Silver Member

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    Ah.

    NEW GOVERNMENT POLICY

    The following groups are no longer allowed to work:
    • people 65 years and older
    • disabled under 65 years
    • students
    • housewives
    • etc.
    EMPLOYERS CAUGHT EMPLOYING ANY MEMBERS OF THESE GROUPS WILL BE SUBJECT TO FINE, IMPRISONMENT, OR BOTH.

    REPORT ANY SUSPECTED VIOLATIONS TO pinqy ON THESE THREADS.
     
  9. pinqy
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    pinqy Gold Member

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    What on earth are you talking about? They are certainly allowed to work, but they choose not to work nor to look for work. Over 7 million people over 65 are working. About 2.3 million disabled (under 65 are working).

    People who DO NOT WANT TO WORK should not be considered Unemployed, and it's dishonest to imply that there's something bad about people not trying to work not working.
     

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