More economic good news, unemployment rate drops to 8.6%

[Mr.Nick]

Our government uses a flawed formula to calculate unemployment... They don't count those who have maxed out their unemployment benefits or those who have never worked a day in their lives...

Our government uses those who are actively on unemployment as their common denominator....

Where on earth did you get those ridiculous ideas from? Let's look at actual data rather than what you invent.
Current number of people receiving unemployment benefits (all programs): 7,005,495 (Dept of Labor
Current number of Unemployed as used in the UE rate: 13,303,000 (Bureau of Labor Statistics
So obviously they are NOT counting just those receiving benefits.

As for not counting those who never worked, welll, according to Table A-11 of the Employment Situation report there were 1,286,000 people whose reason for unemployment was that they were looking for their first job. 3,366,000 were reentering the labor force.

I really don't get why people think they can comment on things they've obviously never done even the most basic research on.

Unemployment Rate Definition, Example & Formula | InvestingAnswers

That article is accurate, however it places little emphasis on the problem...

 

[8537]

Except it doesn't always go up - in fact, it went down every quarter for a year between June 2008 and June 2009.



Go ahead, tell us a little bit about that Nick. I think I'll be able to keep up. you can start by telling us about the flaw in the GDP formula. Hint: asset depreciation is taken into account.

GDP always goes up.. It has to by economic law...

The GDP isn't quicksand....

This should be interesting....where can I find a cite for this law? Next time I visit BEA and talk to the folks who actually calculate GDP I'll let them know. They certainly don't know about it.

The BEA is a reactionary socialist institution that doesn't understand economic growth

^Newt told me so.

 

[Article 15]

Hollllly ****...aaahahah I'm literally rollin over here

Amazing, right?

 

[8537]

Tonight, we learn that the Great Depression never happened. The economy grew throughout the entire period! The Depression was just the mainstream media trying to make people mad at Hoover.

 

[Mr.Nick]

Except it doesn't always go up - in fact, it went down every quarter for a year between June 2008 and June 2009.



Go ahead, tell us a little bit about that Nick. I think I'll be able to keep up. you can start by telling us about the flaw in the GDP formula. Hint: asset depreciation is taken into account.

GDP always goes up.. It has to by economic law...

The GDP isn't quicksand....

This should be interesting....where can I find a cite for this law? Next time I visit BEA and talk to the folks who actually calculate GDP I'll let them know. They certainly don't know about it.

It's really not a law per se - I suppose a man could collect a bunch of garbage no one values and despite the fact he has a million tons of it doesn't mean it holds its weight in gold.

I suppose my point is your shit is only valued by others and if they don't like your shit then its worth nothing - that doesn't mean you have a ton of shit and our GDP measures how much shit we have...

Our shit may not be valued but we still collect shit...

Does that help you at all or are you not smart enough to understand that metaphor??

 

[Mr.Nick]

Tonight, we learn that the Great Depression never happened. The economy grew throughout the entire period! The Depression was just the mainstream media trying to make people mad at Hoover.

Who the hell said that???

 

[Mr.Nick]

Nicholas knows a lot of wrong shit about a lot of shit so he thinks he knows a lot of shit. I said that right.

At least you spelled my name correctly....

 

[Old Rocks]

You did, you dumb ass

 

[8537]

GDP always goes up.. It has to by economic law...

The GDP isn't quicksand....

This should be interesting....where can I find a cite for this law? Next time I visit BEA and talk to the folks who actually calculate GDP I'll let them know. They certainly don't know about it.

It's really not a law per se - I suppose a man could collect a bunch of garbage no one values and despite the fact he has a million tons of it doesn't mean it holds its weight in gold.

I suppose my point is your shit is only valued by others and if they don't like your shit then its worth nothing - that doesn't mean you have a ton of shit and our GDP measures how much shit we have...

Our shit may not be valued but we still collect shit...

Does that help you at all or are you not smart enough to understand that metaphor??

So, when you said "GDP always goes up. It has to by economic law", what you meant t osay was "I'm completely full of shit and I like dumb 'metaphors'"?

OK then.

 

[8537]

Tonight, we learn that the Great Depression never happened. The economy grew throughout the entire period! The Depression was just the mainstream media trying to make people mad at Hoover.

Who the hell said that???

You did, though I have no doubt you don't realize it. The Depression was an era of GDP contraction, which of course you claim can't happen because it violates economic law.

 

[LoneLaugher]

C'mon, folks.......take it easy on him. He's trying.

 

[pinqy]

Our government uses a flawed formula to calculate unemployment... They don't count those who have maxed out their unemployment benefits or those who have never worked a day in their lives...

Our government uses those who are actively on unemployment as their common denominator....

Where on earth did you get those ridiculous ideas from? Let's look at actual data rather than what you invent.
Current number of people receiving unemployment benefits (all programs): 7,005,495 (Dept of Labor
Current number of Unemployed as used in the UE rate: 13,303,000 (Bureau of Labor Statistics
So obviously they are NOT counting just those receiving benefits.

As for not counting those who never worked, welll, according to Table A-11 of the Employment Situation report there were 1,286,000 people whose reason for unemployment was that they were looking for their first job. 3,366,000 were reentering the labor force.

I really don't get why people think they can comment on things they've obviously never done even the most basic research on.

Unemployment Rate Definition, Example & Formula | InvestingAnswers

That article is accurate, however it places little emphasis on the problem...

Yes, the article is accurate. It doesn't support your claim about only using people receiving benefits at all. So again, I have to ask where you got your ridiculous ideas from...certainly not that article since it doesn't support your claims at all.

 

[Trajan]

^yet another person who doesn't understand seasonal adjustments in data. If anyone bothered to actually read the data source, they'd see the data is titled "Household survey - seasonally adjusted" and "establishment survey - seasonally adjusted". It's right there for all to see.

Well I suppose that's the point....

Season - seasonal workers - as in people who will not have a job come first quarter...

That;s why they remove the seasonal workers from the count. Which is how the raw numbers for last month were about 350,000 while the top line number was 120,000 - they adjusted for seasonal hiring.

Which is the point.

The 315,000 seasonal drop in the civilian labor force is almost unprecedented for a November. Since 1982, there have been only 7 times the labor force has dropped between an October and a November, and only 3 times has the drop been even close to this steep. In 2002, 273,000 departed the labor force, in 2008, 332,000 departed the labor force, and in 2009, 227,000 departed the labor force.

Employment Situation Summary

 

[Mr.Nick]

Except it doesn't always go up - in fact, it went down every quarter for a year between June 2008 and June 2009.



Go ahead, tell us a little bit about that Nick. I think I'll be able to keep up. you can start by telling us about the flaw in the GDP formula. Hint: asset depreciation is taken into account.

GDP always goes up.. It has to by economic law...

The GDP isn't quicksand....

This should be interesting....where can I find a cite for this law? Next time I visit BEA and talk to the folks who actually calculate GDP I'll let them know. They certainly don't know about it.

Gross domestic product is not difficult to understand..

World Bank, World Development Indicators - Google Public Data Explorer

Funny how we had republican and liberal presidents and congress' from 1960 and the GDP NEVER went down then all of a sudden it does???

It can't go down - its impossible ... The only possible way for our GDP to go down would be with the value of our money...

Our population is growing.... More people more demand and more gross domestic product...

Despite how pathetic we are there are many who work and produce - progressives would starve to death if that wasn't a fact....

 

[LoneLaugher]

Well I suppose that's the point....

Season - seasonal workers - as in people who will not have a job come first quarter...

That;s why they remove the seasonal workers from the count. Which is how the raw numbers for last month were about 350,000 while the top line number was 120,000 - they adjusted for seasonal hiring.

Which is the point.

The 315,000 seasonal drop in the civilian labor force is almost unprecedented for a November. Since 1982, there have been only 7 times the labor force has dropped between an October and a November, and only 3 times has the drop been even close to this steep. In 2002, 273,000 departed the labor force, in 2008, 332,000 departed the labor force, and in 2009, 227,000 departed the labor force.

Employment Situation Summary

Oh! That's awful! Everyone..........stop shopping immediately. The news is awful!

 

[Rozman]

This is great news. Congrats ,Barack Obama. If he can get us the rest of the way out of the middle east and this can keep improving...It will be very hard to unseat Obama in 2012.

Forget obama, lets hope for this trend to continue for the good of the country!

Forget obama, lets hope for this trend to continue for the good of the country!

They will never let us forget...

The job number is not good...the left blames it on Bush.
The Dept of labor says we added one job...= the stimulus was a huge success.Hail Obama

The Stock market loses 300+ points in a day... = it had nothing to do with the President.
The Stock market gains 300+ points in a day...= it never would have happened if Obama
was not President.

I'm getting a little tired of this crap.
Let's see where the unemployment numbers are for Feb...