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Thread: Jobless rate rises to 8.3 percent, hiring picks up but still falling short

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    re: Jobless rate rises to 8.3 percent, hiring picks up but still falling short

    Quote Originally Posted by DA60 View Post
    Actually, even if you take the most die hard, liberal think tank estimates that half of the loss in participation rate is due to retirement (which does not include the number of people that retired early because they cannot find work); then even by that rosy estimate, the unemployment rate compared to the participation rate when Obama took over should be at over 9.7% today.

    No matter how you slice it - the economy is not improving.

    Despite the fact that staggering amounts of debt are being thrown at it by both the government and the Fed.
    The economy is improving just not at the rates people want it to be. Gallup tracks a few key numbers. Numbers that to me are more important than just the official unemployment rate. They track the % of adults employed full time, and % of people who are underemployed.

    Jan 7 2010 we were at 63.3% FT (fulltime) and 19.4% UE (underemployed) 19.4%.
    Jan 7 2011 we were at 63.7% FT and 19.2% UE
    Jan 7 2012 we were at 65.2% FT and 18.3% UE
    Aug 1 2012 we were at 66.6% FT and 17.1% UE

    Those numbers show improvement and I think are more of an indication of job market growth and job quality.

    source: Gallup Daily: U.S. Employment
    Last edited by Kreton; 08-03-12 at 11:03 AM.
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    re: Jobless rate rises to 8.3 percent, hiring picks up but still falling short

    Quote Originally Posted by DA60 View Post
    Could you post a link to these statistics?
    You can find the data at BEA.gov

    Labor Force Statistics from the Current Population Survey
    Original Data Value

    Series Id: LNS13000000
    Seasonally Adjusted
    Series title: (Seas) Unemployment Level
    Labor force status: Unemployed
    Type of data: Number in thousands
    Age: 16 years and over
    Years: 2000 to 2010

    Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
    2008 7678 7491 7816 7631 8395 8578 8950 9450 9501 10083 10544 11299
    2009 12049 12860 13389 13796 14505 14727 14646 14861 15012 15421 15227 15124
    2010 14953 15039 15128 15221 14876 14517 14609 14735 14574 14636 15104 14393
    2011 13919 13751 13628 13792 13892 14024 13908 13920 13897 13759 13323 13097
    2012 12758 12806 12673 12500 12720 12749 12794

    Discouraged workers
    2008 467 396 401 412 400 420 461 381 467 484 608 642
    2009 734 731 685 740 792 793 796 758 706 808 861 929
    2010 1065 1204 994 1197 1083 1207 1185 1110 1209 1219 1282 1318
    2011 993 1020 921 989 822 982 1119 977 1037 967 1096 945
    2012 1059 1006 865 968 830 821 852

    Unemployed + Discouraged
    2008 8145 7887 8217 8043 8795 8998 9411 9831 9968 10567 11152 11941
    2009 12783 13591 14074 14536 15297 15520 15442 15619 15718 16229 16088 16053
    2010 16018 16243 16122 16418 15959 15724 15794 15845 15783 15855 16386 15711
    2011 14912 14771 14549 14781 14714 15006 15027 14897 14934 14726 14419 14042
    2012 13817 13812 13538 13468 13550 13570 13646 0 0 0 0 0

    Labor Force 2009 154185 154424 154100 154453 154805 154754 154457 154362 153940 154022 153795 153172

    Labor Force 2012 154395 154871 154707 154365 155007 155163 155013


    UE 2012 w/o DW 8.26% 8.27% 8.19% 8.10% 8.21% 8.22% 8.25% #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

    2009 U-3 With DW 8.29% 8.94% 8.79% 8.72% 8.75% 8.77% 8.83% 0.00% 0.00% 0.00% 0.00% 0.00%

    UE 2012 with DW 8.95% 8.92% 8.75% 8.72% 8.74% 8.75% 8.80% #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!



    2012 U-6 rate % 15.1 14.9 14.5 14.5 14.8 14.9 15.0

    Total U-6 millions 23.07 22.9 23.4

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    re: Jobless rate rises to 8.3 percent, hiring picks up but still falling short

    Quote Originally Posted by muciti View Post
    The economy is improving just not at the rates people want it to be. Gallup tracks a few key numbers. Numbers that to me are more important than just the official unemployment rate. They track the % of adults employed full time, and % of people who are underemployed.

    Jan 7 2010 we were at 63.3% FT (fulltime) and 19.4% UE (underemployed) 19.4%.
    Jan 7 2011 we were at 63.7% FT and 19.2% UE
    Jan 7 2012 we were at 65.2% FT and 18.3% UE
    Aug 1 2012 we were at 66.6% FT and 17.1% UE

    Those numbers show improvement and I think are more of an indication of job market growth and job quality.

    source: Gallup Daily: U.S. Employment
    The Bureau of Labor Statistics is the source for jobs and unemployment data and the labor participation rate is at record lows. There are over 23 million unemployed/under employed Americans today which is over 3 years after the end of the recession and we are still averaging over 800k discouraged workers a month. That isn't an improvement

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    re: Jobless rate rises to 8.3 percent, hiring picks up but still falling short

    Quote Originally Posted by muciti View Post
    The economy is improving just not at the rates people want it to be. Gallup tracks a few key numbers. Numbers that to me are more important than just the official unemployment rate. They track the % of adults employed full time, and % of people who are underemployed.

    Jan 7 2010 we were at 63.3% FT (fulltime) and 19.4% UE (underemployed) 19.4%.
    Jan 7 2011 we were at 63.7% FT and 19.2% UE
    Jan 7 2012 we were at 65.2% FT and 18.3% UE
    Aug 1 2012 we were at 66.6% FT and 17.1% UE

    Those numbers show improvement and I think are more of an indication of job market growth and job quality.

    source: Gallup Daily: U.S. Employment
    I am not sure I would use the Gallup poll as my yardstick, but I like that the numbers are showing some improvement. But the true economy measurements, Unemployment, GDP, those are not showing what the Gallup is showing. Maybe Gallup is a precursor to good things to come, but I don't think so.
    Last edited by Blue_State; 08-03-12 at 11:09 AM.
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    re: Jobless rate rises to 8.3 percent, hiring picks up but still falling short

    Quote Originally Posted by Risky Thicket View Post
    It would be nice if we could get people like Romney just to pay taxes, period.

    I'm not a Democrat and I am not an Obama supporter. To date the wealthy have enjoyed Bush tax cuts and all the tax loopholes that you and I cannot get yet unemployment continues to suck like a bucket of ticks. Simply continuing the Bush tax cuts isn't going to do squat for jobs and real Americans.
    LOL, enjoyed keeping more of what they earned? Gee, how can that be. How is increasing taxes on those evil rich people going to benefit the economy? Can you name for me any time when increased taxes balanced the budget? Please don't give me the bs about the Clinton years because there were deficits each year of the Clinton term.

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    re: Jobless rate rises to 8.3 percent, hiring picks up but still falling short

    Quote Originally Posted by Blue_State View Post
    I am not sure I would use the Gallup poll as my yardstick, but I like that the numbers are showing some improvement. But the true economy measurements, Unemployment, GDP, those are not showing what the Gallup is showing. Maybe Gallup is a precursor to good things to come, but I don't think so.


    Just heard the "under-employed" is at 15%.

    But at least we're where we were last year as far as employment.

    How long before Berneke makes a move?
    Last edited by Billy the Kid; 08-03-12 at 11:13 AM.
    "Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy; it's inherent virtue is the equal sharing of misery." Winston Churchill

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    re: Jobless rate rises to 8.3 percent, hiring picks up but still falling short

    Quote Originally Posted by Risky Thicket View Post
    It would be nice if we could get people like Romney just to pay taxes, period.

    I'm not a Democrat and I am not an Obama supporter. To date the wealthy have enjoyed Bush tax cuts and all the tax loopholes that you and I cannot get yet unemployment continues to suck like a bucket of ticks. Simply continuing the Bush tax cuts isn't going to do squat for jobs and real Americans.
    You bought right into the class warfare.

    I am not saying don't expand taxes on the rich, but I would first promote expanding the pool that pays income tax.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

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    re: Jobless rate rises to 8.3 percent, hiring picks up but still falling short

    Quote Originally Posted by muciti View Post
    The economy is improving just not at the rates people want it to be. Gallup tracks a few key numbers. Numbers that to me are more important than just the official unemployment rate. They track the % of adults employed full time, and % of people who are underemployed.

    Jan 7 2010 we were at 63.3% FT (fulltime) and 19.4% UE (underemployed) 19.4%.
    Jan 7 2011 we were at 63.7% FT and 19.2% UE
    Jan 7 2012 we were at 65.2% FT and 18.3% UE
    Aug 1 2012 we were at 66.6% FT and 17.1% UE

    Those numbers show improvement and I think are more of an indication of job market growth and job quality.

    source: Gallup Daily: U.S. Employment
    Gallup use a smaller sampling (I beleive), does not include 16 and 17 year olds (as the BEA does) and are not seasonally adjusted.

    And most economists do not go by it - they, the government and almost the entire world go by the official government statistics.
    Last edited by DA60; 08-03-12 at 11:12 AM.

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    re: Jobless rate rises to 8.3 percent, hiring picks up but still falling short

    Quote Originally Posted by Billy the Kid View Post
    Just heard the "under-employed" is at 15%.

    But at least we're where we were last year as far as employment.

    How long before Berneke makes a move?
    As I understand it, Berneke has a gun with no bullets. They have done everything they could to spark growth, but there is nothing left to do. Interest rates are the lowest ever.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

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    re: Jobless rate rises to 8.3 percent, hiring picks up but still falling short

    Quote Originally Posted by Blue_State View Post
    As I understand it, Berneke has a gun with no bullets. They have done everything they could to spark growth, but there is nothing left to do. Interest rates are the lowest ever.
    Just goes to show how little this Administration knows about the private sector. The private sector is not going to create jobs when it is demonized and threatened with higher taxes. Incentive drives all personal behavior and that is something Obama will never understand.

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