9.1

[David]

Unemployment down from 9.2 to 9.1%. Due to the fact 190,000 people have dropped out of the labor market.

[GeronL]

So by arbitrarily lowering the number of people in the labor pool, they manipulate the numbers.

[schaabdl]

Not manipulated just a definition - people that aren't looking aren't counted (never understood that one). sadly, there are fewer employed today than in June. The 9.1% really is a poor measure - total employment seems to be what we want to hear.

[David]

Originally Posted by schaabdl

Not manipulated just a definition - people that aren't looking aren't counted (never understood that one). sadly, there are fewer employed today than in June. The 9.1% really is a poor measure - total employment seems to be what we want to hear.

[GeronL]

US faces Depression-level unemployment crisis

http://www.financialsense.com/contri...loyment-crisis

Very depressing

[David]

Beneath jobs report surface lie some ugly truths

As is usually the case, there is far more than meets the eye to the Labor Department's report that the economy added 117,000 jobs last month and the unemployment rate fell to 9.1%.

Let's start with the reality that fewer people actually were working in July than in June.

SOURCE

[David]

How scary is Monday going to be?

[FastEddy]

Originally Posted by schaabdl

Not manipulated just a definition - people that aren't looking aren't counted (never understood that one). sadly, there are fewer employed today than in June. The 9.1% really is a poor measure - total employment seems to be what we want to hear.

Actually, those that are not "claiming" and looking do not get counted.

The stats come from "job claims" of unemployment compensation and job searches registered with state "employment" agencies.

The stats are for those who have stopped "looking" and stopped "claiming" are considered to have found something or given up, and thus do not get counted.

Of note: If one is serious about trying to find a job, they invaribly stop using state "employment development" departments, because most serious employers ignore these types of resume's.

Yes, total employment would be a much better number for real information about who is working, paying FICA & other taxes, and those that are not.

[David]

Jobs: Worse than you think

NEW YORK (CNNMoney) -- The U.S. labor force is shrinking, as more Americans are giving up hope.

Last month, only 58.1% of Americans age 16 and over were employed, a significant drop from before the recession and the lowest since 1983.

SOURCE

[schaabdl]

And that's the number one must drum home. The minority community should be hit daily with the abysmal failure of government so that they can learn about what economic freedom really means and understand that jobs do not come from DC.
***
Fair share Mr. President - this tells me the government, at all levels is operating on the backs of 58% of the people. Get the government out of the way so the other 42% can join them and quit pointing fingers at those who are doing the job you can't do.

[bobcat62]

Here's an interesting "Tweet" from Carl Quintanilla of CNBC:

"6m ppl have been jobless for 27+ wks. If formed their own state, wud come in at #18: bigger than CT or CO. (via nick colas)"

[FastEddy]

Originally Posted by David

[b]Jobs: Worse than you think

NEW YORK (CNNMoney) -- The U.S. labor force is shrinking, as more Americans are giving up hope.

Last month, only 58.1% of Americans age 16 and over were employed, a significant drop from before the recession and the lowest since 1983. ...

This is the only real "unemployment" stat that is meaning full. Unfortunately it does not account for the underground economy.

See also: this weeks Wisconsin State Fair riots ...

[David]

More in the run of "bad luck." This time the Verizon strike. New unemployment claims remain over 400,000.

Verizon strikers inflate weekly unemployment numbers


SOURCE

[GeronL]

Why do strikers get unemployed benefits?

No jobs were added in August, meaning that we probably have less jobs than a month ago when taking into account the people deemed to have stopped looking.

[toobdoow]

Originally Posted by GeronL

Why do strikers get unemployed benefits?

...

Looks like only New York allows it:

Why Verizon strikers filed for jobless benefits
New York is lone state to provide compensation in labor disputes

By Jeffry Bartash, MarketWatch

WASHINGTON (MarketWatch) — U.S. workers are usually denied jobless benefits when they go on strike. After all, they walked off the job.

Except in New York. The state is the only one in the U.S. that in some cases allows striking workers to receive unemployment benefits.

more at the source

[GeronL]

crazy

[David]

Still stuck at 9.1%.

[bobcat62]

http://globaleconomicanalysis.blogsp...0-of-them.html

[David]

45 K Verizon employees go back to work after strike. Real job creation 58 K.

[schaabdl]

Might as well post this because someone will soon be gloating about happy days because of the headline - 8.6% - but will fail to read further than the headlines
SOURCE

The Labor Department said Friday that employers added 120,000 jobs last month. With that, the unemployment rate dropped to the lowest level in more than two and a half years. But a key reason for the sharp drop was that about 315,000 people had stopped looking for work -- for the Labor Department's purposes, they were not counted as unemployed.

And why the uptick - it is the holiday season - an annual event I'm told

More than half the jobs added were by retailers, restaurants and bars, a sign that holiday hiring has kicked in. Retailers added 50,000 jobs, the sector's biggest gain since April. Restaurants and bars hired 33,000 new workers.

On another thread the company that counts payroll indicated a large uptick at UPS. So before ticker tap parades begin again for praising the chosen one, one would be advised to look at the calendar - this is December - and we Americans still love consumerism during this time of the year. (I'm about to do some shopping on line right now!)