More economic good news: Unemployment rate drops

[rightwinger]

Typical political smoke and mirrors. The economy is not getting better. The government is saying what it is, in hopes that people will spend more money etc.

Very interesting....how long are the republicans going to be able to claim the economy is still failing? Index of leading economic indicators up three straight months, housing starts up, stock market up 15%, unemployment stablizing.

Now that republicans can no longer claim the economy is failing what do they claim now?
1. The turnaround is due to things george Bush did
2. The economy turned around by itself, Obama had no impact

 

[WillowTree]

well someone obviously has a dog in this fight......do I have to do the math out in a post for you?

Nope - no dog in this fight - I'm glad to see things on the upswing - but I've always said a POTUS gets more credit than they deserve when things are going well economically and POTUS always gets more blame than they deserve when the economy tanks. I believe there are bigger factors at work.

I just always find it amusing when the hyper-zealots try to spin things to suit their own very narrow objectives.

I'm sorry if it offends you when I refuse to swallow your spin - but I'm not going to pretend you make a valid point just so you don't get your panties in a twist.

Like it or not, the economy is on the rebound and if that means you are losing a spin-point, that's just your tough luck.

DIshonest fuck alter!

 

[pinqy]

Lets say there are 300,000,000 American citizens and 9.5% of them are unemployed.

That would mean that 28,500,000 people are unemployed.

add 250,000 to the number and you get 28,750,000 million unemployed.



However, if the population is still 300,000,000 citizens and you have 28,750,000 unemployed persons you end up with an unemployment rate of 9.6%.

Now if the population is still 300,000,000 citizens and you drop the rate to 9.4% you end up with 28,200,000 people unemployed.

This would be true if the only two categories were Employed and Unemployed. But there is a third categorie: Not in the Labor Force. You can't really count full time students or stay-at-home parents or retirees as Unemployed because they're not trying to get a job...they're not participating in the Labor Force.

So the actual (seasonally adjusted) numbers are
Adult civilian noninstitutional Population:
June-235,635,000 July-235,870,000

Employed:
June-140,196,000 July-140,041,000

Unemployed:
June-14,729,000 July-14,462,000

Not in the Labor Force:
June-80,729,000 July-81,366,000

Also, the Unemployment rate is not a percentage of the population, but a percentage of the Labor Force (Employed + Unemployed). So in June the rate was 14,729,000/154,926,000 = 9.5 and in July it was 14,462,000/154,504,000 = 9.4

 

[PLYMCO_PILGRIM]

So either way it comes down to 1/4 million more americans lost jobs than got jobs.

Simple enough.