Wall Street adviser: Actual unemployment is 37.2%, 'misery index' worst in 40 years

[Geaux4it]

Wall street types are known for their honesty and ability to reflect reality with their use of figures.

of course when the numbers are in direct disagreement with what you 'feel', we get the response questioning the source

Typical

-Geaux

What makes him right and the BLS wrong?

Because one is day to day reality, and the other represents politics

-Geaux

 

[zeke]

Not if I got a better paying job

-Geaux

Big word "IF". If frogs had wings and all that shit. Just because you went from 8 bucks an hour to 9, does not mean you have an increasing standard of living. It does mean you won't qualify for as much government "help".

You just can't figure this shit out can you?

Of course it does.. 9 dollars buys more gas than 8 dollars. So my standard does improve with a dollar an hour raise

So your "standard of living" is now defined as subsistence living. 8 bucks to 9 bucks means the government won't help you as much.

You still can't buy a house. Take a nice vacation. Send a kid to college.

You got you some pretty low standards there goforit. But that is a good thing for you. At least you will be able to meet your lofty goals. A job for 9 bucks an hour.

Better than you've got now eh?

 

[zeke]

Not if I got a better paying job

-Geaux

It's all about you, ain't it?

And why aren't you starting a business?

Like all you conservatives recommend!

Because Obama does not encourage me to do so. In other words, its cost prohibitive

-Geaux

You are shitting me right? You are blaming Obama for your lack of abilities? For your lack of grabbing your bootstraps and pulling yourself up.

You fuckers that HATE Obama and HATE the government are now going to use the government for YOUR excuse of being a failure.

Fucking unbelievable.

 

[Wildman]

Wall street types are known for their honesty and ability to reflect reality with their use of figures.

of course when the numbers are in direct disagreement with what you 'feel', we get the response questioning the source

Typical

-Geaux

CNSnews is a joke, like WND.

Why do you post it as a source if you want to be taken seriously?

would you please post a more reliable source for NEWS, one that does NOT distort the truth ??

in fact, where do you get your daily NEWS from ?

 

[AceRothstein]

of course when the numbers are in direct disagreement with what you 'feel', we get the response questioning the source

Typical

-Geaux

What makes him right and the BLS wrong?

Because one is day to day reality, and the other represents politics

-Geaux

Saying unemployment is 37.2% is day to day reality is absurd. Anyone who believes that is full of shit or retarded.

 

[edthecynic]

of course when the numbers are in direct disagreement with what you 'feel', we get the response questioning the source

Typical

-Geaux

What makes him right and the BLS wrong?

Because one is day to day reality, and the other represents politics

-Geaux

No because one simply made up their numbers and the other used actual data!

In your link the source claimed that the UE rate including the discouraged workers was 10.2%, but BLS actually measures that rate, the U-4 rate, and it is 7.2%. That 10.2% was pulled out of your source's ass!

 

[LordBrownTrout]

Wall street types are known for their honesty and ability to reflect reality with their use of figures.

of course when the numbers are in direct disagreement with what you 'feel', we get the response questioning the source

Typical

-Geaux

Sorry if "a wall street adviser" seems like a less than credible source, it might have something to do with the fact that they tend to be big fat fucking liars.

By our govt isn't......

 

[Antares]

Wall street types are known for their honesty and ability to reflect reality with their use of figures.

of course when the numbers are in direct disagreement with what you 'feel', we get the response questioning the source

Typical

-Geaux

CNSnews is a joke, like WND.

Why do you post it as a source if you want to be taken seriously?

LMAO, pot meet kettle.

You post the most ridiculous sources you can find.

 

[FJO]

Actual employment of those who do work and those willing to work is much higher than the number above.

And those of us who were adults forty years ago would rate the misery index two or three times higher in Nixon's last years.

The expression "misery index" was coined during the Carter administration, well deservedly and totally correctly.

 

[g5000]

Wall street types are known for their honesty and ability to reflect reality with their use of figures.

 

[Antares]

Actual employment of those who do work and those willing to work is much higher than the number above.

And those of us who were adults forty years ago would rate the misery index two or three times higher in Nixon's last years.

The expression "misery index" was coined during the Carter administration, well deservedly and totally correctly.

Jake voted for Crater twice, don't diss his 70's hero.

 

[Toro]

Threads like this are so easy to debunk. That's because people are first and foremost interested in reinforcing what they believe, not seeking out empirical evidence, especially if it contradicts their belief. That's why ideologues are easy to fool.

Percent of all people in the United States: 100%
Percent of people under the age of 18: 23.5%.
Percent of people over the age of 65: 13.7%.

http://quickfacts.census.gov/qfd/states/00000.html

Percent of all people in the United States between the ages of 18 and 65: 62.8%.

Almost all the working population in the US is between the ages of 18 and 65. Yes, there are some who work past retirement age, but they are a small percentage. And yes, there are some below 18 who work, but most are part-timers who live at home. They're not people who need to work.

So we can approximate that 62.8% of the population is the working force population.

Labour participation rate at the end of the year: 62.8%.

Bureau of Labor Statistics Data

That's a co-incidence. It was 63.6% at the end of 2012.

Now, it should be readily apparent to even the most math-adled person that the "real" unemployment rate - which he doesn't define - is not 37.2% (unless the author is a moron and is just subtracting the labor participation rate, which he may be).

So if the "real" unemployment rate is 37.2%, that means that 37.2% of the 62.8% of the employable population is unemployed. Doing the math, that means 39.4% of the population is employed. The population of the United States is 314 million. That would mean only 124 million Americans are employed. The BLS says its 144 million.

http://www.bls.gov/news.release/empsit.nr0.htm

And this assumes that every single person between the ages of 18 and 65 can and want to be employed.

Fail.

 

[pinqy]

The funny part is that he doesn't actually include any unemployed in his 37.2%. All he did was take the percent of the population not in the labor force, but the labor force is employed plus unemployed. The actual number he was going for, percent of adult civilian non-institutional population not working is 41.4%

Of course the number is nonsense since he's including retirees, full time students, disabled, and others who can't or don't want to work.

 

[pinqy]

Threads like this are so easy to debunk. That's because people are first and foremost interested in reinforcing what they believe, not seeking out empirical evidence, especially if it contradicts their belief. That's why ideologues are easy to fool.

Percent of all people in the United States: 100%
Percent of people under the age of 18: 23.5%.
Percent of people over the age of 65: 13.7%.

USA QuickFacts from the US Census Bureau

Percent of all people in the United States between the ages of 18 and 65: 62.8%.

Almost all the working population in the US is between the ages of 18 and 65. Yes, there are some who work past retirement age, but they are a small percentage. And yes, there are some below 18 who work, but most are part-timers who live at home. They're not people who need to work.

So we can approximate that 62.8% of the population is the working force population.

Labour participation rate at the end of the year: 62.8%.

Bureau of Labor Statistics Data

That's a co-incidence. It was 63.6% at the end of 2012.

Now, it should be readily apparent to even the most math-adled person that the "real" unemployment rate - which he doesn't define - is not 37.2% (unless the author is a moron and is just subtracting the labor participation rate, which he may be).

So if the "real" unemployment rate is 37.2%, that means that 37.2% of the 62.8% of the employable population is unemployed. Doing the math, that means 39.4% of the population is employed. The population of the United States is 314 million. That would mean only 124 million Americans are employed. The BLS says its 144 million.

Employment Situation Summary

And this assumes that every single person between the ages of 18 and 65 can and want to be employed.

Fail.

Not sure why you got all convoluted with the population. The population BLS uses is the "adult civilian non-institutional population," which consists of everyone in the United States age 16 and older who is not active duty military, not in prison, and not in an institution (mental institute, old age home, etc) The homeless are also necessarily excluded because there's no reliable means to survey them monthly.
So that population is currently 246,745,000 and that's the denominator for the Labor Force participation rate and the employment population ratio.

 

[Faun]

of course when the numbers are in direct disagreement with what you 'feel', we get the response questioning the source

Typical

-Geaux

What makes him right and the BLS wrong?

Because one is day to day reality, and the other represents politics

-Geaux

You realize he's using BLS numbers, don't you? So how can he be right and the BLS be wrong?

 

[Faun]

What makes him right and the BLS wrong?

Because one is day to day reality, and the other represents politics

-Geaux

Saying unemployment is 37.2% is day to day reality is absurd. Anyone who believes that is full of shit or retarded.

Of course it's absurd. To come up with that number, he has to include every single person, 18 and older, who choose not to work.

 

[Faun]

Actual employment of those who do work and those willing to work is much higher than the number above.

And those of us who were adults forty years ago would rate the misery index two or three times higher in Nixon's last years.

The expression "misery index" was coined during the Carter administration, well deservedly and totally correctly.

The misery index is not an indicator of the economy. It's a completely bogus and contrived number with no meaning whatsoever.

 

[pinqy]

Because one is day to day reality, and the other represents politics

-Geaux

Saying unemployment is 37.2% is day to day reality is absurd. Anyone who believes that is full of shit or retarded.

Of course it's absurd. To come up with that number, he has to include every single person, 18 and older, who choose not to work.

16 and older.

 

[Wildman]

Wall street types are known for their honesty and ability to reflect reality with their use of figures.

of course when the numbers are in direct disagreement with what you 'feel', we get the response questioning the source

Typical

-Geaux

CNSnews is a joke, like WND.

Why do you post it as a source if you want to be taken seriously?

where did you go ?

i am waiting patiently for you to supply me..., and the rest of us with the URL to a good reliable NEWS service...., please hurry as i want the best of the best.