7.8 Percent

[Dumb Bob]

Bob wrote:

Rats......
Start the spin!
http://www.detroitnews.com/article/20121005/B... |newswell|text|FRONTPAGE|p

Hey maggot, find a f***** job yet?

[Steelie]

Good Day,

While the 7.8% might sound good...the reality is not. Jimmy P. lays it out well in this article:

http://www.aei-ideas.org/2012/10/the-sickly-s...

Steelie

[Go Blue]

7,8% would still be less than 8.1%, i believe...even in republican math....

[Gville Jim]

Steelie wrote:

Good Day,
While the 7.8% might sound good...the reality is not. Jimmy P. lays it out well in this article:
http://www.aei-ideas.org/2012/10/the-sickly-s...
Steelie

Like post #2 said,.....the numbers mean nothing, and can be adjusted in the future.

[Steelie]

Go Blue wrote:

7,8% would still be less than 8.1%, i believe...even in republican math....

Good Day,

Blue - That may be true, however, I encourage people to read the article that I linked to. The picture is not that rosey.

Furthermore, one needs to understand what the U3 is and what it counts. If I remember correctly... The U3 counts individuals who are unemployed and have sought work in the last month. What this means is that there are a whole lot of people not being counted. Where as the U2 numbers reflect the number of people laid off in the past week.(Usually a lower number than the U3.) So... what about all of the people who have been unemplyed for more than a month? Where are they counted? Or those who want full time work but can only find part time employment? This is where we start to move toward the U6 number which is generally considered the "real" unemployment rate. The U6 is a combination of U3, U4, and U5 to determine its numbers. U3 we have defined. U4 counts U3 plus those on long term unemployment who are still looking for work. The U5 counts U3 and U4 plus those workers who have run through their unemployment benefits and have stopped looking for employment. The U6 combines all of these numbers plus those who are "underemployed" (part time employees seeking full time employment). What does all of this mean? It means that the effective "real" unemployment rate is 14.7%. Since Obama took office this number has stayed above 14% with a peak of 17.2% in October of 2009. December of 2009 (Bush's last full month in office) it hit it's peak during his administration at 13.5%. So what does all of this mean? Quite simple - the "real" unemployment rate is nearly double that which they are touting.

Furthermore - how does the BLS get their data? Believe it it or not, through polling. You read that right, they contact some 60,000 people a month to get their data (AKA - Current Population Survey). I believe they started that practice in April of 2011.

Steelie

[to be announced]

Modern American Currency

One dollar bill: George Washington
Five dollar bill: Abraham Lincoln
Ten dollar bill: Alexander Hamilton
Twenty dollar bill: Andrew Jackson
Fifty dollar bill: Ulysses S. Grant
One hundred dollar bill: Benjamin Franklin
Food Stamps: Barack Obama

lets talk about poverty numbers, isn't it odd, that goes up as unemployment numbers go down

[free thinker]

to be announced wrote:

lets talk about poverty numbers, isn't it odd, that goes up as unemployment numbers go down

It's called 'underemployment'. Working at Burger King is a job but it's not one that will support a family.

[Sneaky Pete]

free thinker wrote:

<quoted text>
It's called 'underemployment'. Working at Burger King is a job but it's not one that will support a family.

It's called leaching off entitlement programs. The only people I see using bridge cards are the scabs I get stuck in line behind that are buying pop, candy, chips, and every other "necessary" food item that white trash and colored trash alike can't live without.

Hey scabs, your welcome! Glad I can support you and your useless family with my hard earned dollars.

[Steelie]

Good Day,

Jack Welch: I Was Right About That Strange Jobs Report

http://online.wsj.com/article/SB1000087239639...

Steelie