rssQuick Note on Those Jobless Numbers
Friday, December 04, 2009 at 12:04 pm
- 7 Comments
There’s good reason to be confused about the Labor Department’s latest unemployment figures, which showed that the nation’s jobless numbers rose by 11,000 last month while the jobless rate fell 0.2 percent. Peter Morici, business professor at the University of Maryland, explains why the news of that rate decrease isn’t as good as it appears on the surface.
“Job losses at only 11,000 was good news but unemployment fell to 10 percent as much because folks left the labor force — throwing up their arms in frustration — as folks finding new work,” he wrote today. “In the household survey used to calculate the unemployment rate, 227,000 adults were added to the rolls of the employed or self-employed but the number choosing not to look for work increased 291,000.”
So those newly giving up hope of finding a job outnumbered those newly employed by roughly 64,000 last month. With that in mind, the pronounced decrease in the jobless rate is somewhat meaningless. What the government really needs is a new method of calculating unemployment.
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Comment posted December 7, 2009 @ 9:46 am
If the government counts those from age 18 to 65, who can work, intend to work and do not have a job, then the figure will be accurate. However, stock market will react negatively.
Comment posted December 7, 2009 @ 7:40 pm
If ever there was a lady who was “supposed to” give up hope it is Diane Garnick. She fought through so much and has a life now better than most dream of.
When you're about to lose hope, focus on people like her. They can change the world with their smiles.
http://www.facebook.com/pages/Diane-Garnick/188…
Having a job or not having a job doesn't define you as a person. We need to remind people they are worth a lot more than “their job title”!
Comment posted December 22, 2009 @ 2:11 pm
Without enough jobs to go around, it's time for some to get more creative and look elsewhere, and use the one resource they have -time to do things that will create income rather than entertain into oblivion. computerincomesecrets.com
Comment posted December 22, 2009 @ 7:11 pm
Without enough jobs to go around, it's time for some to get more creative and look elsewhere, and use the one resource they have -time to do things that will create income rather than entertain into oblivion. computerincomesecrets.com
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