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Unemployment drops to 7.8%

Iti oj

Iti oj

Global warming is real and we need to act
Premium Member
Storm said:
Thank you for not trying to put a partisan spin on this.
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Which earned him frubals from me. I mention this here because im on my phone and cant type frubal messages on my phone it closes the window.
 
tytlyf

tytlyf

Not Religious
esmith said:
New jobs number released today show that the national unemployment figures dropped to 7.8% a decrease of 0.3%. Am providing a link to the Bureau of Labor Statistics. Sure wouldn't want to be a statistician, these numbers give me a headache:help:
Employment Situation Summary
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Yep, and the right-wing propaganda machine is already calling the numbers fraudulent.
 
Sunstone

Sunstone

De Diablo Del Fora
Premium Member
tytlyf said:
Yep, and the right-wing propaganda machine is already calling the numbers fraudulent.
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I hate to agree -- even in part -- with our country's malicious and brain dead right wing propaganda machine, but there's a reasonable chance that the number will be adjusted at a future date. So it's probably worthwhile taking the number with a grain of salt for now. It could go either up or down after an adjustment.
 
Dirty Penguin

Dirty Penguin

Master Of Ceremony
tytlyf said:
Yep, and the right-wing propaganda machine is already calling the numbers fraudulent.
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Where were they when the numbers were bad (8% and up)...? You didn't hear a peep out of them other than to blame the President for how bad they were. Now that it has come down slightly....and not by that much because there is more more nation building that needs to happen....these right wingers are losing their minds today. Joe Scarborough on (MSNBC - Morning Joe) ranted and raved this morning. I thought is head was going to pop off....:yes:
 
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Dirty Penguin

Dirty Penguin

Master Of Ceremony
stephenw said:
If those unemployment figures came out here I think people would be dancing in the street.
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Where is (here)? :D

It's interesting to see the perspective of others around the world. Where do you live, if you don't mind me asking?

EDIT: Oops, never mind. I see it now....LOL!
 
Dirty Penguin

Dirty Penguin

Master Of Ceremony
Wirey said:
Obama, Romney clash over jobs report findings - World - CBC News

Well, that took longer than I thought.
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I look at it like this..When you got a country where you come in and jobs are in the negative and continuing to fall you first have to stop that hemorrhaging. You got to do what you have to do to get out of the negative to get back on the plus side. When you're losing millions of jobs to the tune of hundreds of thousands per month then job growth is going to be slow. It doesn't help when you got a jobs bill sitting on the table prepared to put a million people to work but the bill is going nowhere and a veterans job corps bill that's being shot down. It's a wonder it's even below 8%.
 
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esmith

esmith

Veteran Member
Well, I have been listing to a lot of data here and there and it seems that I am totally confused. It seems that around 114,000 jobs were created in Sept and the unemployment rate dropped 0.3%. That doesn't make much sense to me. The average new job figure for the preceding months were fairly close to that yet the unemployment rate didn't change as much as it did in September.
This seems to be an interesting article from Fox Business:

Here’s the math behind the unemployment rate if all the people who want a job suddenly re-entered the workforce, according to FOX News analyst James Farrell:
In September 2012, there were 6.73 million people who say they currently want a job, but are not in the labor force because they are not looking for work, says Farrell. If all 6.727 million of these workers suddenly started looking for a job, and would in turn be counted both in the workforce and as unemployed, then the unemployment rate would rise to 11.63%.

Sept. 2012 civilian labor force 155.063 million
Sept. 2012 – people who want a job but not looking 6.727 million
Adjusted labor force 161.79 million
Employed in Sept (household survey) 142.974 million
Employed as % of adjusted labor force: (142.974 / 161.79) = 88.37%
Unemployed as % of adjusted labor force (100.00 – 89.27) = 11.63%

Read more: The Real Unemployment Rate | Fox Business

Now the following link is how the Bureau of Labor Statics computers the data:
Prepare to have your head swim!!!
How the Government Measures Unemployment
​
 
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Falvlun

Falvlun

Earthbending Lemur
Premium Member
esmith said:
Here’s the math behind the unemployment rate if all the people who want a job suddenly re-entered the workforce, according to FOX News analyst James Farrell:
In September 2012, there were 6.73 million people who say they currently want a job, but are not in the labor force because they are not looking for work, says Farrell. If all 6.727 million of these workers suddenly started looking for a job, and would in turn be counted both in the workforce and as unemployed, then the unemployment rate would rise to 11.63%.
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The problem with adding the people who are no longer actively looking for work in the unemployment numbers is that they haven't ever been added to the unemployment numbers before. You can't claim a 11.63% unemployment, and bemoan how much higher that is than previous administrations, because you aren't comparing the same thing. You gotta compare apples to apples.
 
Sunstone

Sunstone

De Diablo Del Fora
Premium Member
There is no history in its more than 50 years of the Bureau of Labor Statistics cooking the numbers. They have always before this been regarded as an honest source of information. To say that they are now cooking the numbers, without solid proof, reeks of intellectual dishonesty.
 
esmith

esmith

Veteran Member
Sunstone said:
There is no history in its more than 50 years of the Bureau of Labor Statistics cooking the numbers. They have always before this been regarded as an honest source of information. To say that they are now cooking the numbers, without solid proof, reeks of intellectual dishonesty.
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You obviously think that I am saying that the BLS cooked the numbers; that is far from what I was saying. I was just wondering how the unemployment dropped 0.3% when the new jobs figures didn't change as big. The new jobs numbers was just about the same as the previous months. I'm just confused how they dropped so much. Can you answer that little question for me?
 
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