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Thread: More Job Seekers Give Up

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    More Job Seekers Give Up

    Yay, unemployment drops!!!........ well, sorta ...........


    WASHINGTON: Where did all the workers go?

    The labor force — those who have a job or are looking for one — is getting smaller, even though the economy is growing and steadily adding jobs. That trend defies the rules of a normal economic recovery.

    Nobody is sure why it's happening. Economists think some of the missing workers have retired, have entered college or are getting by on government disability checks. Others have probably just given up looking for work.

    "A small work force means millions of discouraged workers, lower output in the future and a weak recovery," says Rep. Kevin Brady of Texas, the ranking Republican on the Congress' Joint Economic Committee. "Those are unhealthy signs."

    By the government's definition, if you quit looking, you're no longer counted as unemployed. And you're no longer part of the labor force....

    The percentage of adults in the labor force is a figure that economists call the participation rate. It is 64.2 percent, the smallest since 1984. And that's become a mystery to economists. Normally after a recession, an improving economy lures job seekers back into the labor market. This time, many are staying on the sidelines...

    If the 529,000 missing workers had been out scavenging for a job without success, the unemployment rate would have been 9.3 percent in April, not the reported rate of 9 percent. And if the participation rate were as high as it was when the recession began, 66 percent, in December 2007, the unemployment rate could have been as high as 11.5 percent...
    remember ya'll : Keynesian Stimulus Bills worked in 2008 to avoid a recession, and they worked in 2009 to keep unemployment low. Don't you go believing your lying eyes, and don't forget to vote Democrat in 2012!

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    Re: More Job Seekers Give Up

    I just wish those lazy people would get off their buts and take the jobs I am told are out their if the look for them, rather then have people blame the government for not providing them jobs
    Happy Hanukkah Cheerfull Kwanzaa
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    Re: More Job Seekers Give Up

    Quote Originally Posted by cpwill View Post
    Yay, unemployment drops!!!........ well, sorta ...........




    remember ya'll : Keynesian Stimulus Bills worked in 2008 to avoid a recession, and they worked in 2009 to keep unemployment low. Don't you go believing your lying eyes, and don't forget to vote Democrat in 2012!
    Just because there are jobs out there does not mean everyone who is unemployed is trained for a job that is now in demand.

    There is a lot of demand for agricultural workers but there are few people who are trained for it, or even want to try to do it. Besides immigrant laborers.
    Also, we need to legalize recreational drugs and prostitution.

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    Re: More Job Seekers Give Up

    Quote Originally Posted by cpwill View Post
    Yay, unemployment drops!!!........ well, sorta ...........




    remember ya'll : Keynesian Stimulus Bills worked in 2008 to avoid a recession, and they worked in 2009 to keep unemployment low. Don't you go believing your lying eyes, and don't forget to vote Democrat in 2012!
    Man, I love me some over the top hyperbole and misrepresented facts. Remember when the economy was bleeding jobs by several hundred thousand a month? Funny how you forget details like that.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: More Job Seekers Give Up

    As i posted before a few hours ago Fox News reported the the actual Unemployment number for April 2011 was 15.9%, this includes those who are no longer receiving any benefits.

    This is why the numers of people on food stamps is through the roof.
    Last edited by Councilman; 06-02-11 at 10:46 PM.

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    Re: More Job Seekers Give Up

    Quote Originally Posted by Councilman View Post
    As i posted before a few hours ago Fox News reported the the actual Unemployment number for April 2011 was 15.9, this includes those who are no longer receiving any benefits.

    This is why the numers of people on food stamps is through the roof.
    FOX News? Lies! All Lies! The unemployment rate is down, held steady by the might Obama stimulus program!

    (That interpretation of most liberals, brought to you by Whovian)

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    Re: More Job Seekers Give Up

    Quote Originally Posted by Whovian View Post
    FOX News? Lies! All Lies! The unemployment rate is down, held steady by the might Obama stimulus program!

    (That interpretation of most liberals, brought to you by Whovian)
    It's not lies, it is simply a different measure. No one measures true unemployment, and the number Councilman gave is not true unemployment. The "official" unemployment rate is simply the rate used historically and used for comparisons sake, but BLS keeps a whole tab of differently calculated rates, including that one, which is called U6 unemployment.

    Think this link will work: Table A-12. Unemployed persons by duration of unemployment
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: More Job Seekers Give Up

    Quote Originally Posted by Lord Tammerlain View Post
    I just wish those lazy people would get off their buts and take the jobs I am told are out their if the look for them, rather then have people blame the government for not providing them jobs
    A lot of the time it isn't that they can't take the job it is that unemployment is higher than getting that job, as that job may be part time or more hours than what unemployment is can't be guaranteed. I have actually gone on unemployment for the first time in my life this year. Kentucky is actually one of the most unemployed states in the country. Currently, that has much to do with what has gone on in Japan since many of Kentucky's manufacturing jobs rely on supplies from that area. I have heard somewhere (don't know if it's true or not) that for every manufacturing job in Kentucky, another non manufacturing job is created.

    My experience with unemployment is surprisingly a bit more organized than I thought it would be. You have to have looked for one job at least for every single week on unemployment. Unemployment is tax free atm but when filing you pay your taxes into it. Besides that, you are paying into it in the first place. Trust me if I could find a job that paid more than unemployment I would take it in a heart beat. I think the majority of Americans would rather work than be unemployed.
    "We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy." -Reagan

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    Re: More Job Seekers Give Up

    today:

    In disappointing news for the White House, Wall Street and Main Street, U.S. job gains slowed to a crawl in May and the unemployment rate moved higher, the Labor Department estimated Friday.

    Nonfarm payrolls rose by a seasonally adjusted 54,000 in May. This is the smallest gain since September and a fraction of the 125,000 jobs expected by economists polled by MarketWatch. That forecast had been cut in recent days as economists grew pessimistic after a string of disappointing data this week. Just a few days ago, economists were expecting jobs growth of 175,000 jobs in the month.

    The official unemployment rate increased to 9.1% in May from 9.0% in April. This is the highest unemployment rate since December. Economists were expected a slight drop in the jobless rate to 8.9%. The unemployment report adds to fears that the U.S. economy may have hit more than a soft patch and that a more protracted and dangerous downturn could be in the offing.

    Stock futures sold off sharply after publication of the report, as did silver and gold. The dollar dropped against the Japanese yen.

    Total payrolls were revised down by 39,000 for March and April. March’s gain was revised to 194,000 from 221,000, while April’s gain of 244,000 was revised to a gain of 232,000.

    There was no sign that hiring at McDonald’s boosted payrolls. Food and drinking employment rose by 13,600 jobs in May after adding 28,000 workers in April.

    Stepping back, the economy has only recovered a small portion of the more than 8 million jobs lost during the recession. Even before today’s disappointing number, the pace of job growth had not been sufficient to make a meaningful dent in the unemployment rate.
    May jobs growth slows to 54,000, a nine-month low Economic Report - MarketWatch

    and it's not just jobs relative to our historically low "participation rate"

    no, it's gas prices, the housing double dip, the crashing of consumer confidence, the plummeting of corporate profits, the miserable manufacturing measures, auto sales slipping...

    stimulus, anyone?

    shovel ready jobs?

    seeya at the polls, progressives

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    Re: More Job Seekers Give Up

    Quote Originally Posted by Redress View Post
    Man, I love me some over the top hyperbole and misrepresented facts. Remember when the economy was bleeding jobs by several hundred thousand a month? Funny how you forget details like that.
    Not to mention the OP is wrong.. Granted he is basing it on a very wrong link but still.

    Table A-1. Employment status of the civilian population by sex and age

    The facts are clear.

    Labour force UP from 153421000 to 153693000.

    Not in labour force went down from 85725000 to 85620000

    Of that persons who currently want a job went up from 6539000 to 6227000.

    That means the so famous inaccurate unemployment number went up because the amount of jobs did not meet the rise in the labour force.

    I bet if next month will show 200+k again, then I bet the right will find something wrong with that too..

    but I am guessing the right is doing high fives across the country because it makes it more likely for a change in the White House.. or so they think.
    PeteEU

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