U.S. Unemployment Up in February

[KissMy]

U.S. Unemployment Up in February "U.S. unemployment, as measured by Gallup without seasonal adjustment, increased to 9.1% in February from 8.6% in January and 8.5% in December. Underemployment is 19.1%, up from 18.7% in January" Only 58.4% of the population has a job. This is no recovery. We are mired in a continuous recession. Inflation is the only thing making the market & GDP climb. Real people are still worse off.

 

[DSGE]

It's not just inflation making GDP rise. Real (inflation adjusting) GDP is rising. But too slowly to have any effect on employment. Yeah it's a shitty recovery. And it doesn't look like the Fed are gonna stop their misfeasance any time soon. Maybe another round of QE this year, which'll do jack shit.

 

[The Infidel]

Unemployment increased to 9.1% in February from 8.6% in January and 8.5% in December?

Well color me surprised

 

[editec]

Yup.

Capitalism is broken, again.

Sucks don't it?

 

[DSGE]

Yup.

Capitalism is broken, again.

Sucks don't it?

Seriously?

 

[sparky]

It's like watching a vampire movie,,,,,~S~

 

[KissMy]

The seasonally adjusted number of Americans filing claims for jobless benefits rose to 362,000 last week. Economists forecast 352,000 claims. Applications for unemployment insurance payments increased by 8,000 in the week ended March 3, Labor Department figures showed.

The Government Jobs Report is 19 minutes away.

 

[editec]

Yup.

Capitalism is broken, again.

Sucks don't it?

Seriously?

If the point of a economic system is to wisely and efficiently see to it that resources go where they are needed such that the citizens are thriving?

Then yes, I am quite serious.

Capitalism is broken again.

It's fixable...that's the good news.

 

[FireFly]

There is a big disconnect between Gallop & Government adjusted numbers.

 

[KissMy]

Government BS Seasonal Adjusted Unemployment Rate is unchanged at 8.3% showing 227K Jobs.

 

[pinqy]

There is a big disconnect between Gallop & Government adjusted numbers.

Government BS Seasonal Adjusted Unemployment Rate is unchanged at 8.3% showing 277K Jobs.

The OP is, of course, misleading. Among other differences, Gallup collects its numbers daily and applies a rolling average. Due to this, they cannot seasonally adjust, as the BLS numbers are.

Census collects the data for BLS using the week that contains the 12th (Feb 12-18). Looking at the same week for Gallup, they had it at 9.1%. The BLS NOT-seasonally adjusted number for that week of Feb is 8.7%. Not comparable? Wait.

Gallup margin of error at 90% confidence is +/- 0.7 percentage points, meaning their range is really between 8.6% and 9.8%. The BLS margin of error at 90% confidence is +/- 0.2 percentage points, for a range of 8.5% to 8.9%. Since the two ranges overlap, there is no statistically significant difference.

 

[TakeAStepBack]

Yup.

Capitalism is broken, again.

Sucks don't it?

Seriously?

If the point of a economic system is to wisely and efficiently see to it that resources go where they are needed such that the citizens are thriving?

Then yes, I am quite serious.

Capitalism is broken again.

It's fixable...that's the good news.

 

[saveliberty]

Its a stalled recovery at the moment. My car sales seem to be a leading indicator. March is good so far. I'm hopeful.

 

[FireFly]

Its a stalled recovery at the moment. My car sales seem to be a leading indicator. March is good so far. I'm hopeful.

Tax refund checks always drive automobile & durable goods sales.

 

[KissMy]

Things are not getting better fast enough. Adding a tenth of a percent to the employment to population ratio is finally going in the right direction but is has taken way too long.

TrimTabs Says U.S. Economy Adds Sub-Par 149,000 Jobs in February

Trimtabs Investment Research estimates the U.S. economy added 149,000 jobs in February, down from its January estimate of 181,000. TrimTabs’ employment estimates are based on an analysis of daily income tax deposits to the U.S. Treasury from all salaried U.S. employees. They are historically more accurate than initial estimates from the U.S. Bureau of Labor Statistics. “To bring down the unemployment rate, the economy needs to generate at least 250,000 new jobs every month,” says Madeline Schnapp, Director of Macroeconomic Research at TrimTabs. “Job growth of 149,000 new jobs is not terrible, but it is also not a result worth celebrating either.”

 

[DSGE]

Yup.

Capitalism is broken, again.

Sucks don't it?

Seriously?

If the point of a economic system is to wisely and efficiently see to it that resources go where they are needed such that the citizens are thriving?

Then yes, I am quite serious.

Capitalism is broken again.

It's fixable...that's the good news.

Okay. Well I disagree. I'm of the opinion that the cause of this mess is the same as the widely accepted cause of the Great Depression. The Fed pursuing tight monetary policy. I don't want to go into details, because I'll end up hijacking the thread, but I think it's government that's broken.

 

[Trajan]

Government BS Seasonal Adjusted Unemployment Rate is unchanged at 8.3% showing 227K Jobs.

wait wait wait.....didn't we see ticks downward in the UE rate in the last several months on jobs reports with LESS jobs created?

 

[Trajan]

Things are not getting better fast enough. Adding a tenth of a percent to the employment to population ratio is finally going in the right direction but is has taken way too long.

TrimTabs Says U.S. Economy Adds Sub-Par 149,000 Jobs in February

Trimtabs Investment Research estimates the U.S. economy added 149,000 jobs in February, down from its January estimate of 181,000. TrimTabs’ employment estimates are based on an analysis of daily income tax deposits to the U.S. Treasury from all salaried U.S. employees. They are historically more accurate than initial estimates from the U.S. Bureau of Labor Statistics. “To bring down the unemployment rate, the economy needs to generate at least 250,000 new jobs every month,” says Madeline Schnapp, Director of Macroeconomic Research at TrimTabs. “Job growth of 149,000 new jobs is not terrible, but it is also not a result worth celebrating either.”

interesting, trimtabs derives a net # , the way they count, discards the new jobs entrants required #.....?

 

[KissMy]

interesting, trimtabs derives a net # , the way they count, discards the new jobs entrants required #.....?

That could be. Because ADP, TrimTabs & the BLS all say we are adding jobs I am inclined to think we are headed in the right direction regardless of the flakey unemployment numbers. The unadjusted Employment-population ratio is improving ever so slowly. This needs to speed up.

 

[saveliberty]

Gas prices can send this one direction or the other.