Unemployment Rate Highly Underrated!

Here are the glossed-over facts behind today’s vaunted news about unemployment, which has kept the stock market dancing in delirium. After a year of remaining stuck above 9%, the unemployment rate dropped in November to 8.6%, and the stock market was able to sustain yesterday’s drunken stupor. What is not immediately clear in these reports is that 315,000 of these people dropped off unemployment because they gave up and stopped looking for jobs.

Getting behind the unemployment rate numbers to find the facts

The reality is that unemployment or jobless numbers look better today in large part simply because people have given up! Once they give up, they are no longer counted. The country still has a backlog of more than 13 million unemployed people, which puts the real number of unemployed and under-employed people (those who want full-time work but can only find part-time) at 15.6%.

The jobless rate counts only people who are actively looking for jobs, and the umemployment rate counts only people who are actively looking and receiving unemployment checks. It does not count those who fall off the roll because their benefits expire or because they stop looking for jobs. The jobless rate has been at its highest levels longer than any period since it began being calculated in 1948. The average time all the people receiving unemployment checks have been on unemployment is 41 weeks, which is also the longest average in the nation’s history.

315,000 of those people finally called it quits on their job search last week, taking them out of the unemployment rate and jobless figures. They were probably the ones who were far above the 41-week average time spent looking for work. They just gave up!

Possible enormous unemployment rate drop in January 2012!

That heading sounds like great news. January’s unemployment rate will appear miraculously better than today’s “good news” if unemployment benefits are not extended once again by congress. 1.8 million people will no longer receive benefits and will fall off the unemployment roll overnight if congress does not renew the program extensions by the end of the year. Yes, we’ll have a sudden 1.8 million drop in the unemployment rate, and the stock market can, then, celebrate again, for surely the economy must be robust! (When great-sounding news is bad news it would be better if there were no news.)

Getting back to our employment reality check, here’s the bottom line in November’s figures: Only 120,000 of those who left the official unemployment rate numbers left because of new jobs being created. AND, of those 120,000 new jobs in November, HALF were seasonal jobs in retail. We always have a boost in jobs in November as retailers add swarms of temporary employees for the holiday shopping season. So, half of the actual boost to employment in November will fade away during January just from the end of these seasonal jobs. In real terms, the nation added only about 60,000 jobs that will endure — not even enough to keep up with monthly population growth due to immigration!

 

In order to know anything, you have to read carefully between the lines of these reports to see what the total numbers really mean.

 

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Resource articles:

CHARTS: Here’s What The Wall Street Protesters Are So Angry About…

Jobless Claims in U.S. at Lowest in Nine Months

Signs of Hope in Jobs Report; Unemployment Drops to 8.6%

U.S. Payroll Gains Pick Up; Jobless Rate Unexpectedly Drops

 

 

 

 

2 Comments

  1. Ping from BilliChess:

    15.6% is really scary, so we can’t wait for the “good news” in January ..

    Keep up the good work and the real numbers!

    • Ping from Flavia:

      As a lifelong DC metro area redisent, I can tell you that the Federal government workers there, on average, are very very spoiled and do. nothing. for society.Nationwide, Fed workers average salaries are $70k/year (more than $100k/year if you include benefits -and my oh my, they have the best there too). Average non-Federal worker salary? About $35k/year.They are greedy at the Federal trough for sure but it’s the system that is broken and well beyond repair. The irony is that they are mostly a bunch of one-world-government, globalist types, who are killing themselves through their agenda to incorporate the planet.The only jobs (in bulk) being opened today are for the military and for any agency which can be used to control the populace (DHS, FBI, FEMA, etc.).They know what’s coming . official (deceptive) unemployment is 10.2%. That’s what’s know as the U-3. Useful only for comparison purposes to other U-3 numbers. The REAL unemployment rate is the U-6, currently the gov’t (are we getting it? not your friends!) has the U-6 at 17-18%, BUT, even this they fudge. They use an unrealistic component to it (death rate I believe) to make it softer than it really is.Bob Chapman of TheInternationalForecaster.com has current U-6 as of this past Friday (11/06/09) as 22.4%.Folks, that’s a GREATEST depression number.This all by design by the globalists and their international banksters. Watch for pandemics of the strange kind (look at Ukraine now something bad happening there, and it ain’t the flu.)Pandemics, martial law, it’s all coming BY DESIGN. Have you read Atlas Shrugged? That novel is the globalist’s esoteric message (meaning a message for them, the elected NOT for you and me) to their fellow travelers as to HOW America will be destroyed. All by design. All on purpose.If it feels depressing and overwhelming, that’s because it is without the armor of Lord God in Heaven. The globalists have their god lucifer that’s why they they are winning the battle so far.We are not fighting flesh and blood .we need to put on the armor of God to be saved from the evil coming, the evil that is HERE .Please don’t dismiss this warning .your eternal soul is at stake.

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