Page 3 of 3 FirstFirst 123
Results 21 to 29 of 29

Thread: Economy Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

  1. #21
    Sage
    Erod's Avatar
    Join Date
    Aug 2008
    Location
    North Texas
    Last Seen
    Today @ 02:07 AM
    Lean
    Conservative
    Posts
    11,037

    Re: Economy Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

    Quote Originally Posted by upsideguy View Post
    You clearly do not understand what the Not in Work (or Labor) Force number is. Therefore, you really don't understand this whole issue.

    The tired lie is the world in which you live thinking the Not in the Work Force is an inherently bad number. Its not. The largest component of Not in Work Force are retired persons, followed by students, disable and stay at home moms. Discouraged workers is in the number, but its a very small component of it (about 1-2%).

    The people that are seeking work are actually considered to be in the work force. Therefore, they are not considered "Not in Work Force" and thus changes in unemployment rate do not affect the Labor Participation Rate (unemployment can climb or fall without affecting the Labor Participation Rate) as both the employed and unemployed are considered to be IN the workforce.


    What is Not in Work/Labor Force?

    How are the labor force components (i.e., civilian noninstitutional population, civilian labor force, employed, unemployed, and unemployment rate) defined?
    BLS Glossary
    Labor Force Participation Rate - What Does It Mean?

    Significance of Labor Participation Rate

    http://www.nytimes.com/2014/12/12/up...o-instead.html
    https://businessincanada.com/2014/03...ng-population/
    The chart Obama-haters love most

    Moreover, being on welfare is irrelevant to this number as most people on welfare are in the Labor Force (with most actually working)...

    Get a Job? Most Welfare Recipients Already Have One - Real Time Economics - WSJ

    Sorry pal, the only "debunking" here is of your reality/command of this issue. I suggest you study up and try again.

    PS - if you think this has been "debunked", let's see your evidence thereof so we can help understand its error. After all, we are all about the truth and not afraid of the facts, right?
    Welfare up 24.9 percent, according to the census bureau.

    One in Five Americans Participates in Government Assistance Programs Each Month | Washington Free Beacon

    And the percentage of people OF WORKING AGE that are not working is the highest its been since the days women barely worked. But keep hiding in your dream world.

  2. #22
    Sage
    DA60's Avatar
    Join Date
    Jan 2012
    Location
    Where I am now
    Last Seen
    Today @ 07:53 AM
    Gender
    Lean
    Undisclosed
    Posts
    13,689

    Re: Economy Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

    Quote Originally Posted by upsideguy View Post
    You clearly do not understand what the Not in Work (or Labor) Force number is. Therefore, you really don't understand this whole issue.

    The tired lie is the world in which you live thinking the Not in the Work Force is an inherently bad number. Its not. The largest component of Not in Work Force are retired persons, followed by students, disable and stay at home moms. Discouraged workers is in the number, but its a very small component of it (about 1-2%).

    The people that are seeking work are actually considered to be in the work force. Therefore, they are not considered "Not in Work Force" and thus changes in unemployment rate do not affect the Labor Participation Rate (unemployment can climb or fall without affecting the Labor Participation Rate) as both the employed and unemployed are considered to be IN the workforce.


    What is Not in Work/Labor Force?

    How are the labor force components (i.e., civilian noninstitutional population, civilian labor force, employed, unemployed, and unemployment rate) defined?
    BLS Glossary
    Labor Force Participation Rate - What Does It Mean?

    Significance of Labor Participation Rate

    http://www.nytimes.com/2014/12/12/up...o-instead.html
    https://businessincanada.com/2014/03...ng-population/
    The chart Obama-haters love most

    Moreover, being on welfare is irrelevant to this number as most people on welfare are in the Labor Force (with most actually working)...

    Get a Job? Most Welfare Recipients Already Have One - Real Time Economics - WSJ

    Sorry pal, the only "debunking" here is of your reality/command of this issue. I suggest you study up and try again.

    PS - if you think this has been "debunked", let's see your evidence thereof so we can help understand its error. After all, we are all about the truth and not afraid of the facts, right?
    Where are you getting these highlighted figures from?
    'What kind of sick and twisted toy factory is this?'
    'We are all the sum of our tears. Too little and the ground is not fertile, and nothing can grow there. Too much, the best of us is washed away.'
    "Better to be dead and cool, than alive and uncool."

  3. #23
    Outer space potato man

    Join Date
    Feb 2010
    Last Seen
    Yesterday @ 11:22 PM
    Gender
    Lean
    Undisclosed
    Posts
    46,121

    Re: Economy Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

    Quote Originally Posted by countryboy View Post
    They always "revise down". It really is a joke the way employment is "tracked".
    No, they don't always revise down. That's just an error with your primitive monkey brain pattern recognition. Don't feel bad. We all have it. It makes us as a species highly prone to all sorts of biases and mistakes.

  4. #24
    Outer space potato man

    Join Date
    Feb 2010
    Last Seen
    Yesterday @ 11:22 PM
    Gender
    Lean
    Undisclosed
    Posts
    46,121

    Re: Economy Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

    Quote Originally Posted by Erod View Post
    Welfare up 24.9 percent, according to the census bureau.

    One in Five Americans Participates in Government Assistance Programs Each Month | Washington Free Beacon

    And the percentage of people OF WORKING AGE that are not working is the highest its been since the days women barely worked. But keep hiding in your dream world.
    In the context of these unemployment statistics, what is "working age" defined as?

  5. #25
    Outer space potato man

    Join Date
    Feb 2010
    Last Seen
    Yesterday @ 11:22 PM
    Gender
    Lean
    Undisclosed
    Posts
    46,121

    Re: Economy Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

    Quote Originally Posted by Erod View Post
    And this tired lie is all too familiar and debunked. People are sucking the government welfare teet in record numbers. Fact.
    That's what is supposed to happen when the economy tanks.

    Run the math for me: if you fill every job opening in the country instantaneously, how much will unemployment drop?

  6. #26
    Sage
    upsideguy's Avatar
    Join Date
    Nov 2009
    Location
    Rocky Mtn. High
    Last Seen
    Today @ 01:20 AM
    Gender
    Lean
    Progressive
    Posts
    7,889

    Re: Economy Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

    Quote Originally Posted by Erod View Post
    Welfare up 24.9 percent, according to the census bureau.

    One in Five Americans Participates in Government Assistance Programs Each Month | Washington Free Beacon

    And the percentage of people OF WORKING AGE that are not working is the highest its been since the days women barely worked. But keep hiding in your dream world.
    Changing the issue is a concession on the main point. I am not arguing the change in welfare at the this time, it is a whole another discussion. In that case, I would not argue that total number of people receiving welfare is not up (it is).... the cause of that, however, is another issue. I have been arguing that the changes in the labor participation rate DO NOT indicate economic weakness, which you keep asserting every time the unemployment rate is published.

    Again, people receiving welfare are generally considered to be IN the workforce and therefore a labor participants, just like people that are gainfully and fully employed. People that are "Not in the Work Force" are primarily the retired, students, stay at home moms and the disabled (and, to a very minor extent, the discouraged workers). The Work Force includes ALL persons over the age of 16 not in the military, prison or in nursing homes. It includes ALL persons 16 to 90. As people age beyond 65, more and more chose to not work. Choosing not to work removes you from participating in the Work Force. It does not, however, change the denominator.

    The fact that more people can chose not to work; that they can retire, go to school full-time or stay at home with their kids, is actually a sign of a strong economy. Therefore, changes in the labor participation rate is not a bad thing, nor is it a measure of the recovery, I appreciate your concession here (trying to shift the discussion to number of welfare participants and not longer trying to defend the labor participation).

    Consider yourself schooled! Let's not see this reference from you again. (Somehow, I am not convinced, as you last post continues to suggest you did not do your homework and you are still confused about what the labor participation rate is.)
    Last edited by upsideguy; 07-07-15 at 10:33 PM.

  7. #27
    Sage
    poweRob's Avatar
    Join Date
    Sep 2011
    Last Seen
    Yesterday @ 09:42 PM
    Gender
    Lean
    Progressive
    Posts
    24,940

    Re: Economy Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

    Quote Originally Posted by Erod View Post
    We have a record 94 million Americans of working age that aren't in the work force.

    Funny how we constantly hear threats to social security or medicare funding, but you never hear threats to reduce welfare.
    That's what's funny to you?

    What's funny to me is watching the right bitch about how too many of the youthful generations aren't working while at the same time saying how we need to cut social security which forces the elderly to stay in the work force for longer therefore limiting the job opportunities for the younger generation. Cognitive dissonance anyone?
    Quote Originally Posted by apdst View Post
    The Supreme Court can't interpret The Constitution. They don't have that power.

  8. #28
    Sage
    Erod's Avatar
    Join Date
    Aug 2008
    Location
    North Texas
    Last Seen
    Today @ 02:07 AM
    Lean
    Conservative
    Posts
    11,037

    Re: Economy Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

    Quote Originally Posted by upsideguy View Post
    Changing the issue is a concession on the main point. I am not arguing the change in welfare at the this time, it is a whole another discussion. In that case, I would not argue that total number of people receiving welfare is not up (it is).... the cause of that, however, is another issue. I have been arguing that the changes in the labor participation rate DO NOT indicate economic weakness, which you keep asserting every time the unemployment rate is published.

    Again, people receiving welfare are generally considered to be IN the workforce and therefore a labor participants, just like people that are gainfully and fully employed. People that are "Not in the Work Force" are primarily the retired, students, stay at home moms and the disabled (and, to a very minor extent, the discouraged workers). The Work Force includes ALL persons over the age of 16 not in the military, prison or in nursing homes. It includes ALL persons 16 to 90. As people age beyond 65, more and more chose to not work. Choosing not to work removes you from participating in the Work Force. It does not, however, change the denominator.

    The fact that more people can chose not to work; that they can retire, go to school full-time or stay at home with their kids, is actually a sign of a strong economy. Therefore, changes in the labor participation rate is not a bad thing, nor is it a measure of the recovery, I appreciate your concession here (trying to shift the discussion to number of welfare participants and not longer trying to defend the labor participation).

    Consider yourself schooled! Let's not see this reference from you again. (Somehow, I am not convinced, as you last post continues to suggest you did not do your homework and you are still confused about what the labor participation rate is.)
    And from the Huffington Post of all places: U.S. Labor Force Participation Rate Lowest Since 1979

    Instead, the number of Americans in the labor force — those who have a job or are looking for one — fell by nearly half a million people from February to March, the government said Friday. And the percentage of working-age adults in the labor force — what's called the participation rate — fell to 63.3 percent last month. It's the lowest such figure since May 1979.
    You argue with yourself in the shower. Am I right?

  9. #29
    Guru
    pinqy's Avatar
    Join Date
    Dec 2012
    Location
    Northern Virginia
    Last Seen
    Yesterday @ 11:36 PM
    Gender
    Lean
    Centrist
    Posts
    3,315

    Re: Economy Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

    Quote Originally Posted by Erod View Post
    And from the Huffington Post of all places: U.S. Labor Force Participation Rate Lowest Since 1979
    It's not "working age," it's age 16 and older. Over 50 million of those not in the labor force are disabled, age 65 and older, or both.
    Therefore, since the world has still/Much good, but much less good than ill,
    And while the sun and moon endure/Luck's a chance, but trouble's sure,
    I'd face it as a wise man would,/And train for ill and not for good.

Page 3 of 3 FirstFirst 123

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •