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US unemployment lowest in 4 years

Indeed I am!!! Imagine, I'm sitting here with a sweeping view of Lake Washington. Meanwhile them Teas are living large in Lazy Acres -- with a coin-op laundry right there in the trailer court!! Is that convenient, or what?????

Who wouldn't be jealous as all get out?

This discussion is obviously above your pay grade.
 
It's a big world. Seems experiences vary. I
live in an upscale neighborhood
(Kirkland WA) and have yet to meet a Tea Partier, in these parts. The ones I've run into are down at Lazy Acres Mobile Home Park & Coin-Op Laundry; and they're all pudgy-faced, toothless, cross-eyed morons.

Go figure.

You live in Washington State right. The majority of people there live in shanty's and trailer homes and are cross eyed morons so I don't think its fair to single out Tea Partiers.

I watched this show on " Big Foot" . Apparently in the NW US there are " Squatchers".....

All hard core Libs who have lost their ever loving minds.

These two idiots would walk 15 ft into the forrest, place a bunch of random crap on a stump and deem it the " gifitng stump".

Take a pic then come back a day later.

If anything moved a inch.....BIGFOOT was there. LOL !!!

I swear it. Total lunatics with elect BO on the back of their Volkswagons.
 
You live in Washington State right. The majority of people there live in shanty's and trailer homes and are cross eyed morons so I don't think its fair to single out Tea Partiers.

I watched this show on " Big Foot" . Apparently in the NW US there are " Squatchers".....

All hard core Libs who have lost their ever loving minds.

These two idiots would walk 15 ft into the forrest, place a bunch of random crap on a stump and deem it the " gifitng stump".

Take a pic then come back a day later.

If anything moved a inch.....BIGFOOT was there. LOL !!!

I swear it. Total lunatics with elect BO on the back of their Volkswagons.

You should be in Seattle some time when they throw a gay parade. Good lord, it's a billion gay people dressed up like peacocks. They have to shut half of downtown down.

Meanwhile, they have an ENORMOUS population of homeless folks. I mean, they are everywhere.

Pretty city with a buttload of liberal-created issues.
 
That number of "new" 18-year-olds might sound problematic until you consider that roughly 320,000 people retired that same month.

Also consider that about 80,000 people died sudden, unexpected deaths. Extrapolate out that a least half of them had to be below retirement age as a function of proportionality and consider what that would do to the work force/labor market.

"New" workers entering the labor market for the first time really aren't that great of a consideration in respect to unemployment numbers because they're entering on a roughly 1:1 rate with those permanently leaving.
18 year olds aren't considered new workers. The Labor Force is age 16 and older.

What you fail to acknowledge is the unbelievable number of people that have just quit trying to find a job.
Less than a million is unbelievable?
 
18 year olds aren't considered new workers. The Labor Force is age 16 and older.

And this means it's even worse. With 77% of the jobs created being part time only, and a bunch of those being taken by minors....those workers don't even factor into the unemployment rate, even though the part-time jobs are definitely counted.

Unemployment is a wreck.
 
This 7.4% number is bogus, since it does not account for the 250K more people who have given up looking this past quarter. If you count all the people who have no job, whether they are looking or not, the number is well over 13%.

Well, if you count all the people who don't have jobs, that's 41% (and that's still not counting children and people in institutions).
But if you only count those who want a job, it's 11.3%. But of those not classified as unemployed who say they want a job, about half haven't looked in over a year...meaning they're very unlikely to start looking for one. And quite a few couldn't take a job if offered.

So which do you mean, and what's your rationale for classifying them as unemployed?
 
It's a big world. Seems experiences vary. I live in an upscale neighborhood (Kirkland WA) and have yet to meet a Tea Partier, in these parts. The ones I've run into are down at Lazy Acres Mobile Home Park & Coin-Op Laundry; and they're all pudgy-faced, toothless, cross-eyed morons.

Go figure.

With any luck, whoever you rent the room from in the upscale neighborhood won't lose their job due to Obama's incompetence. Don't bank on it though. And don't speak bad of the folks at the lazy acres mobile home park. if your landlord gets evicted, you may be right back at the trailer park where you admit you spend time at.
 
With any luck, whoever you rent the room from in the upscale neighborhood won't lose their job due to Obama's incompetence. Don't bank on it though. And don't speak bad of the folks at the lazy acres mobile home park. if your landlord gets evicted, you may be right back at the trailer park where you admit you spend time at.

Can't afford the rent in these parts. Ergo I've gone with the more affordable option: deed to home, and HOA dues of a smidge over $300 / month.
 
And this means it's even worse. With 77% of the jobs created being part time only, and a bunch of those being taken by minors....those workers don't even factor into the unemployment rate, .

Why do you think they don't factor into the unemployment rate?

But let's go back...It's incorrect to say that 77% of the jobs created are part time. There are TWO different surveys. The Establishment Survey, a survey of over 400,000 worksites, is the official "Jobs" number. It excludes agriculture, self employed and some others. The only questions on this survey are number of workers, average hours, average pay. That's it..no way to tell how many part time and full time jobs.

The Household Survey (60,000 households) includes everyone 16 and older (except military and people in institutions) and asks full time (35+ hours/week) part time and a lot of others. But that data is not directly comparable to the establishment survey. and the error for the household survey can be pretty high for the sub-groups.
 
good majority of those 18 year olds I imagine are not working through the summer, are going to college or already have a part time job established

If even half are seeking work, that still leaves a new job deficit.
 
If even half are seeking work, that still leaves a new job deficit.
The total number of Americans in the workforce has been declining since 2001.

The Baby Boomers are getting older, the population is aging, people are retiring. That's not a consequence of any government policies, it's demographics.
 
Oh please Kush. Don't give me that BS.

There is no B.S. about it! The U.S. is recovering from the greatest level of wealth loss since....... you know when.

This economy is stagnant, and thats WITH perpetual QE and massive spending .

Nope! The economy is stagnant because a general pickup in real estate investment has not occurred until now (which has increased long term interest rates). A housing bubble followed by consumer deleveraging of epic proportions is not to be taken lightly.

What was it, a couple of weeks ago Bernake anounced our economy would collapse without his pumping.

Asset markets would falter as the blanket of liquidity the Fed has been providing markets is removed.

5 years in and Obama's house of cards is being propped up with the FEDs Pumping.

Obama? Last i recall, the economy was dominated by the private sector. Obama cannot impact hiring the way Rush Limbaugh's fan club believes a president can.

Why are you so inexorably connected to a failure of a President ?

I call it how i see it. If that is politically inconvenient for you, so be it.
 
The total number of Americans in the workforce has been declining since 2001.

The Baby Boomers are getting older, the population is aging, people are retiring. That's not a consequence of any government policies, it's demographics.

Yes that it is demographics. But the US working age population is growing faster than the number of US jobs to employ them, even as the number of those retired (and living longer) is also increasing.

http://www.bls.gov/opub/mlr/2002/05/art2full.pdf
 
Clearly the quick-calc unemployment rate (7.4%) is absolutely meaningless.

The count base for all the BLS figures is greatly understated across the board.

The small number of jobs added simply cannot begin to account for the percentage drop in the quick-calc rate.

None of the other Ux BLS figures are meaningful either, due to the inaccurate count base for all the BLS calculations.

What's meaningful is how many people hold TWO or more jobs and are over-worked!

What's meaningful is that the great majority of jobs added were not full-time jobs that might pay a middleclass wage, but that they were PART-TIME jobs!

Clearly, Obama has done NOTHING to try to improve things for the great majority of Americans .. and if the Repubs in the House want to claim credit for the quick-calc rate drop to their philosophy of just waiting for the economy to take care of itself, well, I wouldn't want to jump on that perspective if I were them.

We need a better statistical gathering and presenting system to accurately show what's really going on in America, how bad things truly are for the great majority of Americans.

If MLB "Money Ball" Sabermetrics were as sloppy as the U.S. Government's Bureau of Labor Statistics and Census Departments are, The Oakland As would still be cellar dwellers.

Really, we would all do well to consult the sports prognosticators and analysts to devise a better method of keeping stats and analyzing them.

Then maybe it would be so much easier to see just how bad off the great majority of Americans still are in the wake of The Greate Recession, the causes of which are still in operation today.
 
BBC News - US employment up by 162,000 in July



The US economy added 162,000 new jobs in July.

This was below economists' expectations of more than 180,000 and the government also cut its previous estimates for hiring in May and June.

Nonetheless, the new jobs helped the unemployment rate to fall to 7.4%.





overall positive for the US economy hopefully this is a sign of recovery worldwide.

Unemployment is still too damn high - not to mention 50% of those currently unemployed aren't even factored into the unemployment formula.

Anyone who disagrees with this can go look up the dumbass flawed formula.
 
Clearly the quick-calc unemployment rate (7.4%) is absolutely meaningless.

The count base for all the BLS figures is greatly understated across the board.

The small number of jobs added simply cannot begin to account for the percentage drop in the quick-calc rate.

None of the other Ux BLS figures are meaningful either, due to the inaccurate count base for all the BLS calculations.

What's meaningful is how many people hold TWO or more jobs and are over-worked!

What's meaningful is that the great majority of jobs added were not full-time jobs that might pay a middleclass wage, but that they were PART-TIME jobs!

Clearly, Obama has done NOTHING to try to improve things for the great majority of Americans .. and if the Repubs in the House want to claim credit for the quick-calc rate drop to their philosophy of just waiting for the economy to take care of itself, well, I wouldn't want to jump on that perspective if I were them.

We need a better statistical gathering and presenting system to accurately show what's really going on in America, how bad things truly are for the great majority of Americans.

If MLB "Money Ball" Sabermetrics were as sloppy as the U.S. Government's Bureau of Labor Statistics and Census Departments are, The Oakland As would still be cellar dwellers.

Really, we would all do well to consult the sports prognosticators and analysts to devise a better method of keeping stats and analyzing them.

Then maybe it would be so much easier to see just how bad off the great majority of Americans still are in the wake of The Greate Recession, the causes of which are still in operation today.

Yes, because the formula used to calculate unemployment is extremely flawed.

Workforce divided by those currently receiving unemployment benefits.... That doesn't factor those whom don't meet either criteria...

In short - if someone (that's not of retirement age) doesn't have a job and isn't receiving unemployment benefits then they're not factored into unemployment statistics...
 
Yes, because the formula used to calculate unemployment is extremely flawed.

Workforce divided by those currently receiving unemployment benefits....


Have you been called out on this falsehood before?
 
Well, if you count all the people who don't have jobs, that's 41% (and that's still not counting children and people in institutions).
But if you only count those who want a job, it's 11.3%. But of those not classified as unemployed who say they want a job, about half haven't looked in over a year...meaning they're very unlikely to start looking for one. And quite a few couldn't take a job if offered.

So which do you mean, and what's your rationale for classifying them as unemployed?

An unemployed person is one who is physically and mentally able to work, but currently does not have a job. "looking" or "not looking" has no bearing.
 
An unemployed person is one who is physically and mentally able to work, but currently does not have a job. "looking" or "not looking" has no bearing.

Of course it does.

A child is likely to be physically and mentally able to work at the age of 11.
 
18 year olds aren't considered new workers.
The Labor Force is age 16 and older.

Less than a million is unbelievable?

Black teenagers jobles rate under Obama ?

Over 40%.
 
Of course it does.

A child is likely to be physically and mentally able to work at the age of 11.

Ok, lets qualify it by saying anyone 19yrs or older, physically and mentally able to work and does not currently have a job.
 
Black teenagers jobles rate under Obama ?

Over 40%.

Also under Bush 43 to an extent. Funny thing happens in a racially-divided societies: marginalized majorities are the first to be fired and the last to be re-hired. You'll note, if you look at the facts, that the job hemorrhaging in the final year of the debacle we called the "Bush 43 Administration" saw tremendous, and highly disproportionate, job losses among Blacks.
 
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