Unemployment falls to 8.3%

[NYcarbineer]

This is a joke right? Workers decided they don't need to be earning the income they once had because they no longer feel they want to have a full time job, or it's because they have decided they would much rather look after the kids? Are you being serious? Underemployment MEANS they are unable to find work at the income they once had and have to "settle" with earning less, perhaps even work two jobs to make up the loss of income under one (which would also make an increase in the job numbers deceptive and misleading). You are able to figure out what underemployment means with respect to a bad economy, aren't you?

There's no set definition for "underemployment." The definition Gallup uses for their measure is

Respondents who work either for an employer or for themselves, and do not work more than 30 hours per week at either job are categorized as employed part time. Additionally, when asked, these respondents indicated they do want to work more than 30 hours per week.
Gallup definitions

So nothing to do with unable to find full time or having to settle. People working part time because they need to look after kids or elderly or share a car or juggle school will be classified as "underemployed" by Gallup's measure. I find it revealing that you just invented your own definition rather than try to find what was actually used for the measure you were discussing.

Invented? You really don't know anything about this economy and the variables that show it's TRUE condition (which is far worse than just a simple 8.3% unemployment the media loves to project while hiding behind the true recession figures). You need to do a little more investigating on this recession and educate yourself a bit instead of settling for the "sweet coating" figures from the liberal media, like MSNBC.

Labor that falls under the underemployment classification includes those workers that are highly skilled but working in low paying jobs, workers that are highly skilled but work in low skill jobs and part-time workers that would prefer to be full-time. This is different from unemployment in that the individual is working but isn't working at their full capability.

Read more: Underemployment Definition | Investopedia

The media is reporting the numbers like they've always reported the numbers.

 

[Misty]

"Economist John Williams of Shadowstats.com says the government reported more than 40,000 jobs that didn’t exist. * *Williams went on to report, “While today’s happy labor data likely will fuel financial-media and political talk of an improving economy, the underlying reality remains bleak, with data later this month and next generally tending to confirm the ongoing bottom-bouncing of the U.S. economy in a severe downturn.”

Unemployment Drop Masks Ongoing Decline | Greg Hunter

 

[pinqy]

From CBS news; "The drop in the unemployment rate comes with an asterisk: while there was a 278,000 gain in employment, there was a concurrent labor force decline of 315,000 from October."

Fewer jobs is not really a good thing for Americans.

First, that was November. Latest numbers are for January and the drop in the UE rate was accompanied by an increase in the Labor Force.

Second, a decrease in the Labor Force is not "fewer jobs," necessarily...it means the total number of people working or looking for work is less. There are many many reasons for that to occur, some economic and some non-economic.

I think most people recognize that many people who lost a job during the recession have had to take jobs with a lower pay rate pinqy.

Of course. But since the UE rate is not meant to nor capable of capturing that, it's a little silly to complain that it doesn't.

 

[Neotrotsky]

"Economist John Williams of Shadowstats.com says the government reported more than 40,000 jobs that didn’t exist. * *Williams went on to report, “While today’s happy labor data likely will fuel financial-media and political talk of an improving economy, the underlying reality remains bleak, with data later this month and next generally tending to confirm the ongoing bottom-bouncing of the U.S. economy in a severe downturn.”

Unemployment Drop Masks Ongoing Decline | Greg Hunter

Don't worry Misty, the Left and their stooges will make excuses for this as well



New CBO report

US News & World Report (2/16/12)

After three years with unemployment topping 8 percent, the U.S. has seen the longest period of high unemployment since the Great Depression, the Congressional Budget Office noted in a report issued today.​

And, despite some recent good news on the economic front, the CBO is still predicting that unemployment will remain above 8 percent until 2014. The report also notes that, including those who haven't sought work in the past four weeks and those who are working part-time but seeking full-time employment, the unemployment rate would be 15 percent.​

The report came at the request of Democratic Michigan Rep. Sander Levin​

 

[starcraftzzz]

"Economist John Williams of Shadowstats.com says the government reported more than 40,000 jobs that didn’t exist. * *Williams went on to report, “While today’s happy labor data likely will fuel financial-media and political talk of an improving economy, the underlying reality remains bleak, with data later this month and next generally tending to confirm the ongoing bottom-bouncing of the U.S. economy in a severe downturn.”

Unemployment Drop Masks Ongoing Decline | Greg Hunter

Don't worry Misty, the Left and their stooges will make excuses for this as well

New CBO report

US News & World Report (2/16/12)

After three years with unemployment topping 8 percent, the U.S. has seen the longest period of high unemployment since the Great Depression, the Congressional Budget Office noted in a report issued today.​

And, despite some recent good news on the economic front, the CBO is still predicting that unemployment will remain above 8 percent until 2014. The report also notes that, including those who haven't sought work in the past four weeks and those who are working part-time but seeking full-time employment, the unemployment rate would be 15 percent.​

The report came at the request of Democratic Michigan Rep. Sander Levin​

More reason not to vote for republicans.

 

[Neotrotsky]

I couldn't agree more ...


If you want long term systemic unemployment

sure keep voting for Democrats

 

[NYcarbineer]

Shadowstats is just weak-ass variation on prisonplanet or infowars.

Another safehouse for conspiracy loons who've lost contact with reality.

 

[Neotrotsky]

Do you mean US News & World Report
is part of the evil right wing cabal?

 

[bigrebnc1775]

I couldn't agree more ...


If you want long term systemic unemployment

sure keep voting for Democrats

We have another rdean retread.

 

[Neotrotsky]

I couldn't agree more ...


If you want long term systemic unemployment

sure keep voting for Democrats

We have another rdean retread.

Better than the "concerned troll" posters

 

[bluecoller-eddy]

post 360

The T sez --
For the record, the average unemployment rate under Bush was 5.2%. It was only as high
as 7.3% one time, and that was the last month of Bush's regime.

For the record,the bush recession did not end when bush slithered back to Texas.
FACT: the job loss during Ex-president shit for brains recession continued until
February of 2010. The 23 months of job gains since,is the Obama expansion.
To blame Obama for job losses during the bush recession is an outright LIE.
Lying is a way of life for republicans.


---- bluecoller -- the grumpy old kraut-------

 

[bigrebnc1775]

post 360

The T sez --
For the record, the average unemployment rate under Bush was 5.2%. It was only as high
as 7.3% one time, and that was the last month of Bush's regime.

For the record,the bush recession did not end when bush slithered back to Texas.
FACT: the job loss during Ex-president shit for brains recession continued until
February of 2010. The 23 months of job gains since,is the Obama expansion.
To blame Obama for job losses during the bush recession is an outright LIE.
Lying is a way of life for republicans.


---- bluecoller -- the grumpy old kraut-------

So the democrats including senator obama had nothing to do with the failed economy? OK fine. But what about these gas prices? Why did the price of oil drop when Bush lifted the ban on offshore drilling, and why did oil prices go up when obama reinstated the ban? OH and the price of gas has a lot to do with the economy.
Come on stupid man up or remain the dumb shit you are.

 

[edthecynic]

For the record, the average unemployment rate under Bush was 5.2%. It was only as high as 7.3% one time, and that was the last month of Bush's regime.

Those are government numbers cooked by Bush. Bush didn't count people once their UI ran out and it ran out after 26 weeks.

Real unemployment during the Bush Regime was never under 10% and over 20% when he left.

 

[Big Fitz]

For the record, the average unemployment rate under Bush was 5.2%. It was only as high as 7.3% one time, and that was the last month of Bush's regime.

Those are government numbers cooked by Bush. Bush didn't count people once their UI ran out and it ran out after 26 weeks.

Real unemployment during the Bush Regime was never under 10% and over 20% when he left.

I'll point out the same thing I did the last time you pulled this graph.

"Strange... the spike doesn't REALLy start till after Obama's election in late 2008."

and why is the blue line RISING while the grey and red line are falling after Obama's in office? When you look at it before P-BO, the blue line always mirrored the other two almost exactly.

Hmmmmmm... interesting.

 

[edthecynic]

For the record, the average unemployment rate under Bush was 5.2%. It was only as high as 7.3% one time, and that was the last month of Bush's regime.

Those are government numbers cooked by Bush. Bush didn't count people once their UI ran out and it ran out after 26 weeks.

Real unemployment during the Bush Regime was never under 10% and over 20% when he left.

I'll point out the same thing I did the last time you pulled this graph.

"Strange... the spike doesn't REALLy start till after Obama's election in late 2008."

and why is the blue line RISING while the grey and red line are falling after Obama's in office? When you look at it before P-BO, the blue line always mirrored the other two almost exactly.

Hmmmmmm... interesting.

The spike starts up with the beginning of the Bush Depression, Dec 2007. Obama had not even won the nomination yet, let alone the presidency! It levels off after he takes office.

 

[Big Fitz]

Those are government numbers cooked by Bush. Bush didn't count people once their UI ran out and it ran out after 26 weeks.

Real unemployment during the Bush Regime was never under 10% and over 20% when he left.

I'll point out the same thing I did the last time you pulled this graph.

"Strange... the spike doesn't REALLy start till after Obama's election in late 2008."

and why is the blue line RISING while the grey and red line are falling after Obama's in office? When you look at it before P-BO, the blue line always mirrored the other two almost exactly.

Hmmmmmm... interesting.

The spike starts up with the beginning of the Bush Depression, Dec 2007. Obama had not even won the nomination yet, let alone the presidency! It levels off after he takes office.

The RISE starts with the housing bubble popping and the beginning of MANY bad economic decisions in early 2008. The rise is gradual but strong. But note the real increases fall after Obama's election.

Then while the U6 and U3 are shown as dropping, the SGS continues to rise conflicting with all other data from previous years. So, what's wrong here? Someone's fudging data is the most likely cause.

 

[JakeStarkey]

The recession was solely Bush's, period, the great majority of Americans know it, and more importantly, they have not forgot it. When we elect Romney, we cannot go back to failed neo-con neo-econ statist GOP activities that push business and ignore labor. We do that, the Dems will punish us in 2014 and 2016.

 

[pete]

For the record, the average unemployment rate under Bush was 5.2%. It was only as high as 7.3% one time, and that was the last month of Bush's regime.

Those are government numbers cooked by Bush. Bush didn't count people once their UI ran out and it ran out after 26 weeks.

Real unemployment during the Bush Regime was never under 10% and over 20% when he left.

No cooking of the numbers now though ... huh?

 

[BlakeKarpe]

President Obama and House Democrats wasted a lot of time on Health Care
and The President's Stimulus Bill has not worked like they promised
I want universal payer, anyway. Regardless, it was too much change during
bad economic times. They should have focused on jobs more

Everyone knows that
Get people back to work, even if it means putting off some of the extreme environmental base
Forget all this poking at the church and alienating people- get us jobs.
Get us jobs to get yourself reelected, then we can do want we want with the other stuff in the 2nd term.


If these numbers do not approve, the US voter is going to punish US come come next
election.

 

[pinqy]

For the record, the average unemployment rate under Bush was 5.2%. It was only as high as 7.3% one time, and that was the last month of Bush's regime.

Those are government numbers cooked by Bush. Bush didn't count people once their UI ran out and it ran out after 26 weeks.

Real unemployment during the Bush Regime was never under 10% and over 20% when he left.

No cooking of the numbers now though ... huh?

Nope. No cooking. The SGS numbers are pure fiction, of course, and don't stand up to any scrutiny.