More economic good news, unemployment rate drops to 8.6%

[Meister]

Can you please explain to me how it is that for ever new hire 3 drop from the work force is a good thing?

Thank you.

Math fail.

where did that number of 1 hiure to 3 drop come from?

Not being sarcastic...just curious as to who made that number up?

* The fall in the unemployment rate was aided by 315,000 people leaving the workforce. That pushed the participation rate, a ratio of the amount of the population in the labor force, down to 64.0 percent. Those who exited the workforce, many of whom gave up on looking for work, outnumbered the 278,000 people who found jobs, according the Labor Department's household survey, which is separate from payrolls data.
U.S. shrinking workforce a worrisome sign - Business - msnbc.com

 

[Soggy in NOLA]

Gotta love it... 3 walk away because they can't find a job, 1 finds a job, and the unemployment rate goes down.

Yeah, nothing corrupt here.

 

[Soggy in NOLA]

U6 is still around 16 1/2%

 

[KissMy]

Civilian Employment-Population Ratio at the worst levels since 1981. The only reason the unemployment rate fell is because their benefits have run out & the unemployed have given up on looking for work. This is a very bad sign for the economy & employment.

I wonder why chris didn't mention the record number of people on food stamps?

Midnight Shopping is just one Sign of Poverty in Third World America

I have seen this point stressed by Wal-Mart CEO Bill Simon & SuperValue Food Markets CEO Craig Herkert.

First morning of the month ushers in midnight lines at cash registers around the country. All of these shoppers are stressed & hungry. They are waiting for their EBT, unemployment or SSI credits to transfer into their accounts at 12:01AM so they & their kids can eat. Some had to go away hungry as stores ran out of their necessities the first day of the month due to the big rush.

This phenomena has been prevalent over the last 2 years & has been guiding stores to inventory heavy for the first of the month morning rush because store shelves have been running out of diapers, baby food & cheap foods on the first day of the month.

What will happen now that all of these people are falling off of the unemployment dole & have no jobs? Get ready for a spike in the crime rate!

 

[Meister]

Most people in this thread failed statistics and/or have no idea how the data for these reports is derived. That's the only logical explanation for the amount of ignorance being displayed.

Can you please explain to me how it is that for ever new hire 3 drop from the work force is a good thing?

Thank you.

Sure. We start with the following situation: 4 people don't have a job.

After this report, we are in the following situation: 3 people don't have a job. 1 person does have a job.

I think another year in high school with an emphasis on comprehension would do you well.

 

[bripat9643]

They will find a reason why this is not good.

But...but......315,000 gave up seeking employment

That's where most of the decrease came from.

 

[GHook93]

The reason unemployment # dropped is because 315K people stopped looking for jobs.

Then for the jobs that were "created" in Nov, more than half were in seasonal low paying retail, restaurant and bars! 70% are in these low level service jobs, which a large portion of these jobs can be attributed to temporary and seasonal! Either way 120K jobs "created" is horrible for any month and for the holiday seasonal time it's pitiful!

Um do liberals realize retailers hire temp seasonal workers for holiday push and then let them go come Jan? I used to do some work every Christmas break when I was on College break.

Do liberals realize that bars and restaurants gear up for humble day, Christmas break when the beer drinking college kids come home, the holiday season and of course New Years? They start the holiday hiring in Nov and usually cut them loose in Jan!

Read more: Unemployment Rate Falls To 8.6 Percent | Fox News
More than half the jobs added were by retailers, restaurants and bars, a sign that holiday hiring has kicked in. Retailers added 50,000 jobs, the sector's biggest gain since April. Restaurants and bars hired 33,000 new workers. The health care industry added 17,000.

 

[8537]

Can you please explain to me how it is that for ever new hire 3 drop from the work force is a good thing?

Thank you.

Math fail.

where did that number of 1 hiure to 3 drop come from?

Not being sarcastic...just curious as to who made that number up?

120,000 jobs created last month while during the same period 315,000 dropped out of the labor force. Not quite 1:3, but close enough for government work

 

[Listening]

Sure. We start with the following situation: 4 people don't have a job.

After this report, we are in the following situation: 3 people don't have a job. 1 person does have a job.

Let's try it this way....

There are 1000 people who want to work.

910 have jobs.

90 don't but are looking.

That is 9% unemployment.

Are we good so far ?

O.K.

Then

10 people loose their jobs.

We now have 900 people with jobs and 100 without but looking...10% unemployment.

Now.

50 more people lose their jobs

and 75 of the 100 that did not have jobs quit looking.

So we now have.....

850 with jobs

75 without jobs who are looking.

75 without jobs who quit looking.

So we now calculate unemployment against 925 people.

Our unemployment rate is 75/925 or 8%.

But 150 people don't have jobs.

Did I get that right.

 

[BluePhantom]

Gotta love it... 3 walk away because they can't find a job, 1 finds a job, and the unemployment rate goes down.

Yeah, nothing corrupt here.

Well..yeah I mean this is hilarious. The rule of thumb is that 115,000 people enter the workforce a month so if only that many jobs are "created" then you are merely maintaining where you are. So according to this 120,000 were added last month meaning a 5,000 swing to the good side. BUT consider that's it's holiday season and most of those jobs will be temporary, and that 315,000 said "**** it" altogether. And Dems are pumping their chest about this? I think they're pumping something but it's a little lower than their chest.

 

[8537]

They will find a reason why this is not good.

Still, one reason the unemployment rate fell so much was because roughly 315,000 people gave up looking for work and were no longer counted as unemployed.

Combined with the stunning revelation that businesses started hiring in November in anticipation of Black Friday and Christmas shopping. I mean holy shit....Obama is awesome. He placed the holiday season at the perfect time.

Let's see how it all looks in January after those temporary workers get the boot

The figures are seasonally adjusted.

 

[Meister]

Math fail.

where did that number of 1 hiure to 3 drop come from?

Not being sarcastic...just curious as to who made that number up?

He's saying that because 315000 people who did not find jobs/stopped looking were removed from being listed as "unemployed," while only 120, 000 were hired in November.

The problem with his math is simple. (besides 120x3 = 360)




He's acting as though the 315,000 are somehow newly unemployed or something, which is the only way the number negates the good news that we added 120k jobs, when the reality is this:

add the 2 together: 315000 and 120000 = 435000

so before November, speaking only in the context of these two numbers - - 28% of those specific 435k folks are now employed, when before November, 100% of them were unemployed.

That's a positive in anyone's book, and as 8537 continues to school people on: holiday/seasonal hiring is adjusted in the ue % in order to reflect a more accurate number.

They see this in the article: More than half the jobs added were by retailers, restaurants and bars, a sign that holiday hiring has kicked in. Retailers added 50,000 jobs, the sector's biggest gain since April. Restaurants and bars hired 33,000 new workers. The health care industry added 17,000.

And pretend that, that means: the 8.6% number wasn't adjusted for seasonal/holiday hiring, which it was - as always.

You seemed to have left out the rest of the unemployed that are still on the books. I know it was just an oversight on your behalf.

 

[8537]

Gotta love it... 3 walk away because they can't find a job, 1 finds a job, and the unemployment rate goes down.

Yeah, nothing corrupt here.

278,000 found jobs.

 

[Listening]

Hey Octocrissy....your ship is sinking and others are doing the bailing for you.

You are a fraud.

 

[Luddly Neddite]

News of the new energy bill a little while ago said it COULD add millions of jobs but the GObP/Repubs can't allow that.

Considering how much the president's policies have benefited us, if the damn pubs would just go home, we could do a hell of a lot more.

But no - they're so busy pledging not to raise taxes and then raising taxes on the working class while protecting their owners, there's no doubt they'll just keep right on filibustering anything that could help the US while forcing through legislation to put more money in the pockets of the 1%.

 

[BluePhantom]

So we now calculate unemployment against 925 people.

Our unemployment rate is 75/925 or 8%.

But 150 people don't have jobs.

Did I get that right.

That pretty much sums it up....yep

 

[Jarhead]

Math fail.

where did that number of 1 hiure to 3 drop come from?

Not being sarcastic...just curious as to who made that number up?

* The fall in the unemployment rate was aided by 315,000 people leaving the workforce. That pushed the participation rate, a ratio of the amount of the population in the labor force, down to 64.0 percent. Those who exited the workforce, many of whom gave up on looking for work, outnumbered the 278,000 people who found jobs, according the Labor Department's household survey, which is separate from payrolls data.
U.S. shrinking workforce a worrisome sign - Business - msnbc.com

Thanks..
Another question...

One of my companies used to hire, clothe and train the seasonal help for major retailers here in NYC. (I say clothe becuase part of our contract included furnishing them with uniforms....usually a certain colored sport Jacket).

We did the screening as early as August...the final decision making in October....and the groups went on our payroll in November...usually November 1st as they required a minimum of 2 weeks of training.

For Macys we would have a group of about 200....Bloomingdales, about 100...and for some of the smaller retailers a total of about 100 combined.....

Our best year we had over 500 seasonal help on our payroll form 11/1 through 1/31.

And we were just one vendor.

Do you know if that seasonal help is included in the November unemployment numbers?

 

[8537]

The reason unemployment # dropped is because 315K people stopped looking for jobs.

Then for the jobs that were "created" in Nov, more than half were in seasonal low paying retail, restaurant and bars! 70% are in these low level service jobs, which a large portion of these jobs can be attributed to temporary and seasonal! Either way 120K jobs "created" is horrible for any month and for the holiday seasonal time it's pitiful!

Um do liberals realize retailers hire temp seasonal workers for holiday push and then let them go come Jan? I used to do some work every Christmas break when I was on College break.

Do liberals realize that bars and restaurants gear up for humble day, Christmas break when the beer drinking college kids come home, the holiday season and of course New Years? They start the holiday hiring in Nov and usually cut them loose in Jan!

Read more: Unemployment Rate Falls To 8.6 Percent | Fox News
More than half the jobs added were by retailers, restaurants and bars, a sign that holiday hiring has kicked in. Retailers added 50,000 jobs, the sector's biggest gain since April. Restaurants and bars hired 33,000 new workers. The health care industry added 17,000.

The numbers are seasonally adjusted to compensate for the expected variance of the holidays.