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Thread: U.S. economy adds just 74,000 jobs in December

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    Re: U.S. economy adds just 74,000 jobs in December

    Quote Originally Posted by a351 View Post
    That's just plainly wrong. No data to support that assertion whatsoever.
    Here's some data:

    Population in 2008, September was 303,850,456. The increase in population to now is a little over 4% to 317,357, 120.

    The total employed in september 2008 was about 145,255,000. This produced an unemployment rate of 6.1%.

    To have kept pace with population growth and to maintain a 6.1 unemployment rate, the number employed would have had to increase by more than 4% to a level of 151,065,200: This would be an increase in the number of jobs of 5,810,200 in round numbers.

    Where are we really? We are actually down from the 2008 level to about 144,586,000. Instead of an increase of 5.81 million jobs, we have a decrease of .669 million jobs. This is a shortfall from the normal, non-spectacular job maintenance of 6.1% unemployment. Using the additional unemployed and adding to the baseline of 2008, this would create an unemployment factor of 11% give or take. If you convert the population and other numbers which gets too complex for me, the picture gets less optimistic.

    On balance I'd goes that the 20% number was a tad overstated and the 11% I swaged is low. Probably closer to 12 or 13%.

    However you slice it, though, the picture is bleak and the top priority should be providing the conditions that will allow job creation and slowing the regulation mill and other factors that have the movers and shakers paralyzed with fear.

    Economic News Releases

    http://www.bls.gov/news.release/arch...t_10032008.pdf

    Population Clock
    Last edited by code1211; 01-12-14 at 02:57 PM.
    I am not of the mind that a man is either of science or of religion. At his best and his worst, man exists in the misty glimmering where the falling angel meets the rising ape. That he chooses a direction from that point defines him as human.

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    Re: U.S. economy adds just 74,000 jobs in December

    Quote Originally Posted by bubbabgone View Post
    Better in what way?
    Consistent job growth instead of substantial losses for starters. The labor market in general is in a much healthier state.

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    Re: U.S. economy adds just 74,000 jobs in December

    Quote Originally Posted by code1211 View Post
    Here's some data:

    Population in 2008, September was 303,850,456. The increase in population to now is a little over 4% to 317,357, 120.

    The total employed in september 2008 was about 145,255,000. This produced an unemployment rate of 6.1%.

    To have kept pace with population growth and to maintain a 6.1 unemployment rate, the number employed would have had to increase by more than 4% to a level of 151,065,200: This would be an increase in the number of jobs of 5,810,200 in round numbers.

    Where are we really? We are actually down from the 2008 level to about 144,586,000. Instead of an increase of 5.81 million jobs, we have a decrease of .669 million jobs. This is a shortfall from the normal, non-spectacular job maintenance of 6.1% unemployment. Using the additional unemployed and adding to the baseline of 2008, this would create an unemployment factor of 11% give or take. If you convert the population and other numbers which gets too complex for me, the picture gets less optimistic.

    However you slice it, though, the picture is bleak and the top priority should be providing the conditions that will allow job creation and slowing the regulation mill and other factors that have the movers and shakers paralyzed with fear.

    Economic News Releases

    http://www.bls.gov/news.release/arch...t_10032008.pdf

    Population Clock
    However you slice it, the U3 figure is the official measure of unemployment, and the effective unemployment rate is nowhere near 20%.

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    Re: U.S. economy adds just 74,000 jobs in December

    Quote Originally Posted by a351 View Post
    The reasoning would lie in the fact that the U-6 figures include roughly 10 million individuals who are employed, hence its obvious limitations as an unemployment rate.
    Ladies & gentlemen ... an example of purposefully misleading ... which in a way is better than not knowing it's misleading.

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    Re: U.S. economy adds just 74,000 jobs in December

    Quote Originally Posted by a351 View Post
    Consistent job growth instead of substantial losses for starters. The labor market in general is in a much healthier state.
    Even if the job growth is outstripped by those giving up by 3 to 1?

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    Re: U.S. economy adds just 74,000 jobs in December

    Quote Originally Posted by tech30528 View Post
    The current employment market shows a disturbing trend in the character of both individuals and government. There are clearly a large number of people who feel they are too good for a low paying job. But government actions are contradictory and counter productive. On one hand the new health care law encourages employers to reduce working hours, while at the same time attempts to buy votes by pushing higher minimum wages and extending unemployment. And then there is the push for amnesty to get people to fill those jobs that are available. When you put these factors together it becomes clear that the goal of the federal government is not to decrease unemployment at all, but to create a dependent underclass while dividing the population and pitting groups against each other. I'm not buying that our federal government is collectively too stupid to see it. I think they know exactly what they are doing, which is disturbing because it is very clear that their intent is to better their own positions rather than those of the citizens.


    It's like the old joke about the guy who took a job that paid straight commission so he could finally earn what he was worth.

    After a few months on the job, he discovered he couldn't live on that so he found a hourly paid job.
    I am not of the mind that a man is either of science or of religion. At his best and his worst, man exists in the misty glimmering where the falling angel meets the rising ape. That he chooses a direction from that point defines him as human.

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    Re: U.S. economy adds just 74,000 jobs in December

    Quote Originally Posted by TheNextEra View Post
    That's your problem then, but even the right as a whole doesn't dispute the BLS numbers. If you choose to ignore reality, that's on you not me.


    I do dispute them and wonder why the same system used in 1950 is still used today.

    Only the government prefers the methods that have already been shown to be inaccurate.
    I am not of the mind that a man is either of science or of religion. At his best and his worst, man exists in the misty glimmering where the falling angel meets the rising ape. That he chooses a direction from that point defines him as human.

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    Re: U.S. economy adds just 74,000 jobs in December

    Quote Originally Posted by bubbabgone View Post
    Ladies & gentlemen ... an example of purposefully misleading ... which in a way is better than not knowing it's misleading.
    And what in my post was misleading?

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    Re: U.S. economy adds just 74,000 jobs in December

    Quote Originally Posted by bubbabgone View Post
    Even if the job growth is outstripped by those giving up by 3 to 1?
    Except it hasn't been The number of jobs created since the end of 2009 has dwarfed discouraged workers.

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    Re: U.S. economy adds just 74,000 jobs in December

    Quote Originally Posted by a351 View Post
    However you slice it, the U3 figure is the official measure of unemployment, and the effective unemployment rate is nowhere near 20%.


    So you're good with the situation as it is and looking forward to more of the same?
    I am not of the mind that a man is either of science or of religion. At his best and his worst, man exists in the misty glimmering where the falling angel meets the rising ape. That he chooses a direction from that point defines him as human.

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