Unemployment number...lol

[winter brew]

OK....I think we all know it's a shell game when U3 has the biggest single drop in 40 years and U6 is unchanged at 14.7%.
Remember the executive order Obama signed in July on work/welfare requirements??? The one he said would not put more people on welfare?
What it DOES do is allow states to shift people from U3 into U6 as far as the Dept of Labor Statistics is concerned.
Obama gets the headline number to claim things are going in the right direction while the reality is the numbers are unchanged or may even be worse.
With this historical improvement I'm sure Barry and Ben Bernanke will be cancelling QE3. I wonder why Ben, with access to all the data didn't see this coming? Why did he see a need for QE3 ??

 

[polaris dude]

I think Bernanke is on Obama's side. I see no reason for this stimulus other than to help boost the economic numbers for Obama.

Quite frankly I don't understand why the financial sector of all places gets these stimuli. Why not hospitals or something important. I think these stimulus themselves are going to create a bubble.

 

[winter brew]

Aaand....it's up again. Good job California....lol.

http://www.breitbart.com/Big-Government/2012/10/18/Jobless-Claims-Jump-to-388k

 

[mold]

There sure are a lot of "help wanted" signs around here. Was at the local food bank the other day, one group was drinking beer and smoking cigs. while waiting in line. Within two blocks of the food bank were 3 help wanted signs on local business. We, as a society, have allowed/enabled a generation to take zero owership for their own well being.

 

[snowmobiler]

yep.when there is free low income housing.free healthcare,free food,free obama phone.why work.

 

[Mafesto]

There sure are a lot of "help wanted" signs around here. Was at the local food bank the other day, one group was drinking beer and smoking cigs. while waiting in line. Within two blocks of the food bank were 3 help wanted signs on local business. We, as a society, have allowed/enabled a generation to take zero owership for their own well being.

You are exactly correct.
Yet when Romney points this out, he is perceived as evil.

 

[mold]

You are exactly correct.
Yet when Romney points this out, he is perceived as evil.

^^^^Maybe because he is????

 

[xc6rider]

^^^^Maybe because he is????

Any politician is, but hes unlike the other socialist nazi a$$hat.

 

[polaris dude]

Not sure what it is but when I see Romney's face a majority of the time he looks like a snake.

 

[snowmobiler]

save your money.more crackheads need free cell phones

 

[snowmobiler]

Abbott & Costello explain the Federal Govt's Unemployment Numbers or Why politicians don't understand economics, and vice versa!


...

COSTELLO: I want to talk about the unemployment rate in America.


ABBOTT: Good Subject. Terrible Times. It's 8.3%.


COSTELLO: That many people are out of work?


ABBOTT: No, that's 16.5%.


COSTELLO: You just said 8.3%.


ABBOTT: 8.3% Unemployed.


COSTELLO: Right 8.3% out of work.


ABBOTT: No, that's 16.5%.


COSTELLO: Okay, so it's 16.5% unemployed.


ABBOTT: No, that's 8.3% ..


COSTELLO: WAIT A MINUTE. Is it 8.3% or 16.5%?


ABBOTT: 8.3% are unemployed. 16.5% are out of work.


COSTELLO: IF you are out of work you are unemployed.


ABBOTT: No, you can't count the "Out of Work" as the unemployed. You have to look for work to be unemployed.


COSTELLO: BUT THEY ARE OUT OF WORK!!!


ABBOTT: No, you miss my point.


COSTELLO: What point?


ABBOTT: Someone who doesn't look for work, can't be counted with those who look for work. It wouldn't be fair.


COSTELLO: To whom?


ABBOTT: The unemployed.


COSTELLO: But they are ALL out of work.


ABBOTT: No, the unemployed are actively looking for work. Those who are out of work stopped looking. They gave up. And, if you give up, you are no longer in the ranks of the unemployed.


COSTELLO: So if you're off the unemployment roles, that would count as less unemployment?


ABBOTT: Unemployment would go down. Absolutely!


COSTELLO: The unemployment just goes down because you don't look for work?


ABBOTT: Absolutely it goes down. That's how you get to 8.3%. Otherwise it would be 16.5%. You don't want to read about 16.5% unemployment, do ya?


COSTELLO: That would be frightening.


ABBOTT: Absolutely.


COSTELLO: Wait, I got a question for you. That means there are two ways to bring down the unemployment number?


ABBOTT: Two ways is correct.


COSTELLO: Unemployment can go down if someone gets a job?


ABBOTT: Correct.


COSTELLO: And unemployment can also go down if you stop looking for a job?


ABBOTT: Bingo.


COSTELLO: So there are two ways to bring unemployment down, and the easier of the two is to just stop looking for work.


ABBOTT: Now you're thinking like an economist.


COSTELLO: I don't even know what the hell I just said!


ABBOTT: Now you're thinking like a politician.

 

[polaris dude]

We just talked about this in our Macroeconomics class. Its stupid how these numbers can be manipulated/deceptive to people who don't understand how these things are counted

 

[snowmobiler]

here its more like 50% normal people not working and the other 50% making 10 an hour.