No Change in Unemployment so far.

Discussion in 'Politics' started by ihopehefails, May 7, 2010.

  1. ihopehefails
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    ihopehefails BANNED

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    My theory is why more jobs were added is the fact that unemployment benefits in most states are running out so more people go looking for work when that happens. That could explain new hires and the "those that have given up" catagory being converted to the "those that started to seek employment" catagory which explains the jump in unpemployed people.
     
  2. The Rabbi
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    The Rabbi Diamond Member

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    Even if the spin given is all correct, that people are encouraged by the job market and re-entering it, it still shows we are in a very weak recovery, despite having spent an unprecedented amount of money to counter the recession.
    This should make all the neo-Keynesians out there STFU. But of course it wont.
     
  3. ihopehefails
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    Whats worse is that they will claim that the government created those private sector jobs or was responsible for them. The truth is that all private sector jobs are created by people of this country through their own property that they have.
     
    Last edited: May 7, 2010
  4. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    U6 Unemployment increased from 16.9% to 17.1% - this figure includes discouraged workers who are not looking.

    The total # of Unemployed has increased, not decreased. This is why Obama has a slush fund. The gubmint will hire a bunch of temp workers to cook the statistics. Watch for a pop in May with the a bunch more census workers.
     
  5. ihopehefails
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    I don't trust the numbers either because I haven't seen an ounce of mass hiring that normally comes with 300K job creation but I haven't seen any direct proof that the numbers are being crunched so it is just suspicion right now.
     
  6. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    The BLS itself reported the increase in U6 from 16.9% to 17.1%. The actual figure is probably more like 22% using Shadow Stats methodology.

    Economic growth is half of what it needs to be to generate net job creation that lowers unemployment. Temp census jobs aren't going to do that. Another bad indicator is that there is still way too much slack in the labor markets. Wages are still flat, and there is risk we will see actual wage deflation - the new jobs are lower paying service sector ones.

    We have a long way to go to climb out of this mess. The more weight Obama piles on the shoulders of small businesses (in particular - they create most new jobs), the longer it will take to recover.
     
  7. traveler52
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    traveler52 Active Member

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    290,000 jobs created in the last quarter. Best numbers on job creation since 2006.
     
  8. The Rabbi
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    2006 was close to the beginning of the recession. Given the massive amount of money the gov't has spent you would expect job creation to be much larger, especially by this point.
     
  9. Flopper
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    The universally accepted measure of unemployment is U3 which is the official unemployment rate. In both good times and bad, U4, U5, & U6 will always run much higher than U3. The only reason to use U4, U5, or U6 instead of the official rate is to exaggerate the unemployment problem. It that is your attention, have at it, however it only misleads those that don't understand what you are doing.
     
  10. pinqy
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    pinqy Gold Member

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    Why do you continue to misrepresent the U6? You're lying by omission. If you're just talking about adding discouraged workers, then talk about the U4. By not saying what else the U6 includes gives the false impression that just adding discouraged workers raises the UE rate from 9.9 to 17.1. Since you do know the different components, I can only conclude that you're deliberately lying.

    No one is saying anything different...the UE level clearly rose. So did the Employment level.

    Neither BLS nor the Census hire temp workers to handle any of the statistics. Not even normal data collection. And there is strict monitoring of new employees to make sure they're not curbstoning or otherwise mucking with the numbers.
     

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