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Author: 2828 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 725898  
Subject: The McJobs Report Date: 10/5/2012 4:09 PM
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http://washingtonexaminer.com/article/2509960#.UG8d1xj2Ez4

During the robust Reagan jobs recovery in the 1980s, liberals regularly dismissed good news by attributing it to the creation of “McJobs.” So it’s interesting to see liberals celebrating the September jobs report, in which the headline unemployment figure fell to 7.8 percent, largely because of an increase in Americans settling for low paying part-time jobs.

Once a month, the Bureau of Labor Statistics reports two main sets of employment numbers. Under one measure, based on a survey of employers, the economy added 114,000 jobs in September. Under another measure, based on a smaller survey of households, the economy added 873,000. But a more detailed look at these numbers shows that 572,000 — or about 67 percent — of the reported job gains that contributed to the reduction in the unemployment rate came from workers who had to settle for part time work. BLS explains that, “The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) rose from 8.0 million in August to 8.6 million in September. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.” This is why a broader measure of unemployment, which takes into account those who were forced to accept inferior jobs, remained flat at 14.7 percent.
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Heh, heh, i've been outside all day have dems been all goo goo gaga over the report?
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Author: isawbones Three stars, 500 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 647207 of 725898
Subject: Re: The McJobs Report Date: 10/5/2012 4:18 PM
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I think it was Lenin who said "I don't care if there are free elections as long as I control the ballot boxes."

I guess the same applies to labor statistics.

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Author: CCinOC Big gold star, 5000 posts Top Recommended Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 647220 of 725898
Subject: Re: The McJobs Report Date: 10/5/2012 5:06 PM
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http://www.caintv.com/WhosOutofWork-127

[quote] I read an interesting statistic today about unemployment and that was in addition to the 8.2% unemployed, if you add in "discouraged" workers and people who have given up looking, the unemployment rate is around 18%. What? Why wouldn't you count people who are discouraged? The bigger question is, why would the Obama Administration not count all people out of work?

That's like asking what the interest rate is on your mortgage and your banker says, "It's only 4%, because another 5% on top of that would only be discouraging; so it's not 9%. Yes, we know the other 5% is still interest, but we don't count it if it's discouraged.

Why aren't the people who dream this up in some sort of institution? Wait - they are - the Federal Government is an institution, I forgot. Well, as far as explaining the 15% unemployment rate, I'll leave it to my friend, the great director, Barry Levinson, who hasn't given up:

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

ABBOTT: Good subject. Terrible times. It's 8.2%.

COSTELLO: That many people are out of work?

ABBOTT: No, that's 18%

COSTELLO: You just said 8.2%.

ABBOTT: 8.2% unemployed.

COSTELLO: Right. 8.2% out of work.

ABBOTT: No, that's 18%.

COSTELLO: Okay, so it's 18% unemployed.

ABBOTT: No, that's 8.2%...

COSTELLO: WAIT A MINUTE. Is it 8.2% or 18%?

ABBOTT: 8.2% are unemployed. 18% are out of work.

COSTELLO: If you're out of work, you're 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 who?

ABBOTT: The unemployed.

COSTELLO: But they're 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 rolls, 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 8.2%. Otherwise it would be 18%. You don't want to read about 18% 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 a Democrat.

COSTELLO: I don't even know what the heck I just said! [quote]

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