Unemployment Rate falls to 4.4%

Looks like the Economy is still in high gear. Jobs are being created at a good pace and deficits are falling. This is the lowest unemployment rate in more than 5 years.



The labor market is tightening due to the success of our Economy. So much so, that interest rate hikes may be needed. So now, let the doom and gloomers wring their hands about that for a while. There is a line we walk between Labor shortages and unemployment. That's what the Fed is there for. So let's raise our glasses and celebrate!

That's good, I dislike unemployment.

In my opinion there should'nt be any unemployment, and if
there is, it should be under 1%.

I'm all for the government creating more jobs in the production
secotrs, to both help further reduce unemployment, and to help
us get back on the path of being an equal export/import country,
instead of just import.

What I'd like to know is, 'does a realtor who hasn't sold a home in 3 months count as employed or unemployed'?

How about a mortgage broker who hasn't refinanced someones credit crad debt into a home equity loan in over 3 months?

How about a down sized auto worker who takes on a job at home depot? Does that count as employed or under employed?

A reservest who leaves his civil servant job to goto Iraq? Is he still counted as employed or just deployed?

etc, etc

Wow, jobs grew in the service economy!
Good thing there are more people flipping burgers for all those folks out there beating the street looking for jobs and aren't at home to cook.
Or are people looking for more happiness in a fat and salt saturated meal because they are not satisfied with their situation?

Makes me happy.

4.4%, to me that sounds artificially low. (almost like there is an election or something coming up?)

It's time for my spiel again.

Whee...

I ought to just copy this statement and save it somewhere, so that everytime someone posts one of these threads about how great the unemployment situation is, I don't have to re-type it all over again. Here goes...

The unemployment numbers are not a reflection of how many people in the country are unemployed. They do not count people who never applied for benefits after losing their job. They do not count people who have exhausted their benefits and are still out of work. They do not count people who are critically underemployed. They do not count people who are not eligible for benefits. They do not count people who are self-employed.

The unemployment numbers are a reflection of one thing, and one thing only - how many unemployed people are on the government tab at any one time.

Anyone who thinks that only 4.4% of the country is out of work needs a reality check.

The problem is much, much more severe.

I'm getting sick and tired of this repetetive nonsense I keep hearing about the wonderful unemployment numbers.

They're a sham.

All you have to do to know that for yourself is come and live in a town like mine - it's not hard to find one, there are thousands like them. The lifeblood of the entire region was industry, and now the industry has departed for warmer, cheaper climates south of the border. We're left with the husks of their infrastructure, like giant dead insects littering the landscape, and a lot of angry, desperate, destitute people forced to turn to the government for their food, fuel, medicine, and housing.

Put two and two together.

A citizenry that is utterly dependent on the favors of the state is docile and easy controlled.

Since I am from Canada, I am glad you pointed that out.
Same here, not collecting UI, or have; underemployed, or owner of a failing business.

Not a statistic.
The real figures are much worse!

Get rid of free trade! It's great for the corporations, but it's killing the rest of us!

Congratulations, the economy is doing great!

I'd say read this and this this about the official unemployment rate.

"There are three kinds of lies: lies, damned lies, and
statistics." - Benjamin Disraeli

Unemployment rate is great?

Afraid I can't speak of a universal truth, but will talk about myself. Been unemployed since July 28, 2006. Have been on unemployment insurance sinc end of August when the state finally decided that I was worthy ( another whole lengthy ugly mess).

In my state, the unemployment income for me is $270.00 weekly. I can find jobs all day that pay between $8.00 and $10.00 per hour with none to very little benefits. However, after factoring in wear and tear on my vehicle, meals, gasoline, etc. etc. etc. It comes out to my bringing in considerably less than what I can get by staying on the dole (a hat tip to the British system, and I like the term)... Even what I bring in from unemployment insurance is very considerably less than what I was making in a professional IT career, before being shot out of the saddle on three separate occasions as my jobs went to Canada, and India.

Of course I can be employed at Wendy's, McDonalds, and Burger King.

I recently applied for a job working for the county government in the county 26 miles to the West of my location. Simply, I applied for a position working as a Detention Enforcement Officer (Jailer). The interviewer looked at my job application, and my resumé ... And said, "Why the Hell would he want to work here"? That's the last I heard.

The emotional toll of this situation is just as bad. My wife, with her Master's Degree from relatively prestigious University, has a meteoric career going on. I, while not quite so meteoric in the past, now get to stay home, let the cat's and dog in and out, do the dishes, vacuum, watch TV, and respond on various fora that I am privy to. It is pretty tough going from a relatively affluent lifestyle to counting pennies for an evening out at Burger King with my wife. I know... Some will think this is silly. And perhaps it is, but when your reality is one thing and suddenly becomes a lesser thing, it takes it's toll.

I'll stay on the unemployment insurance until it a) runs out and I finally have to take a lower pay job and hope for the best and try to create a new career as a fry cook.

or b) Somewhere unexpectedly, a job falls in place that pays a bit more than not working does.

And with the understanding that my problems may appear to be facile, there are many, many others out here who are unemployed, with what I will euphemistically call , lesser qualifications, who can't get at those fry cook positions, because there are a great many of us older citizens with College and University qualifications who can do that same fry cook job with panache!

If I were to pick the most dishonest case of statistical
skullduggery, it would probably be the official unemployment
rate in the United States. As in Canada, this rate -now
claimed to be down to five per cent - completely disregards
the millions of people who have given up looking for work,
as well as those who are working fewer than 20 hours a week
but would prefer full-time jobs. The calculation of the U.S.
unemployment rate, however, is done much more deceitfully,
and with some of the most blatant statistical perversions
ever devised.

For that country's business and political leaders, it
is important that the national jobless rate reflect the
merits of their policies. Mass layoffs, part-time work, job
insecurity, big corporate tax breaks, cuts in welfare and
UI benefits are not conducive to a lower rate of
unemployment. In fact, they invariably have the very
opposite effect. But the big corporations and their
political flunkeys want to convince the American public
that their free market approach benefits workers as much as
shareholders. And how better to peddle that lie as the
truth than with the crafty misuse of statistics.

Pretty much sums up why the rate is ''records low''.


[edit on 5-11-2006 by Mdv2]

posted by mdv2
Pretty much sums up why the rate is ''records low''.

You seem to be knowledgable about these things. So I wanted to ask you, When will the inevitable collapse take place? I need to get some things together, so if you could go on record with your prediction, I'd really appreciate it!

Mdv2

It would be great if you would post the source of your information instead of just giving us an excerpt.

Originally posted by In nothing we trust
What I'd like to know is, 'does a realtor who hasn't sold a home in 3 months count as employed or unemployed'?

How about a mortgage broker who hasn't refinanced someones credit crad debt into a home equity loan in over 3 months?

How about a down sized auto worker who takes on a job at home depot? Does that count as employed or under employed?

A reservest who leaves his civil servant job to goto Iraq? Is he still counted as employed or just deployed?

etc, etc

Well, if the mortgage broker hasn't written other loans for three months, maybe it's time for him to seek greener pastures. Same as the realtor. Real estate sales are very cyclical, as you must know.

For those decrying the criteria used to judge unemployment rates, well, that's what we have used all along. So if you want to object to these figures, don't tout the figures that were used when your favorite politician was in office.

And remember - the gov't doesn't owe you a job.

jsobecky,
I think he is more commenting on the increasing inability to sell homes, because the average American is finding it toughr to buy a house. I don't think 'In nothing we trust ' is commenting on poor salemanship, but on the state of the economy in general and how that relates to the American dream and how that is being eroded.

Originally posted by jsobecky
Mdv2

It would be great if you would post the source of your information instead of just giving us an excerpt.

My dearest friend, I'd recommend to read my post above the post you are referring to.

Himwhohadanear, I'll come back later to your question as I'm in a hurry.

Lets review this once again for all the Conservatives, Republican and Democrat alike, out there.

Originally posted by WyrdeOne
The unemployment numbers are not a reflection of how many people in the country are unemployed.
* They do not count people who never applied for benefits after losing their job.
* They do not count people who have exhausted their benefits and are still out of work.
* They do not count people who are critically underemployed.
* They do not count people who are not eligible for benefits.
* They do not count people who are self-employed.

The unemployment numbers are a reflection of one thing, and one thing only - how many unemployed people are on the government tab at any one time.

Anyone who thinks that only 4.4% of the country is out of work needs a reality check.

The problem is much, much more severe.

What the poor learn:

* You get fast cash from selling drugs to Corporate Officers/preachers/ministers/priests/politicians.
* You get fast cash from selling guns you steal from corporate officers/preachers/ministers/priests/politicians.
* You get fast cash from selling your body to the corporate officers/preachers/ministers/priests/politicians.
* You get drugs/guns/swag from selling out the system that sold you out and disenfranchised you.


So while you sit in your +$500,000.00 house looking out over the neighborhoods of the poor, just remember, they are almost fed up enough to strike back in the only way they can.


[edit on 5-11-2006 by 2stepsfromtop]

Well, I consider myself a very level headed person and I know that the so call rates on employment are nothing but lies.

Perhaps they forgot to come here to my neck of the woods in GA and check that we just lost to major employments in the area, Bob candies and Merck pharmaceuticals, last year we lost Copper tires assembly plant.

Guess what all this companies used to supply jobs to middle class citizens in this area.

But that is OK middle class keep dying to outsourcing and nobody cares, but we have wal-mart.

After all you 60 to 120,000 dollar salaries now can be trade to minimum wage in our local wal-mart, and just leave that fancy home and move to a mobile home.

But you can not longer claim bankruptcy thanks to Mr. Bush helping corporate American.

So yes we are doing just peachy as long as you are not middle class.

So while you sit in your +$500,000.00 house looking out over the neighborhoods of the poor, just remember, they are almost fed up enough to strike back in the only way they can.

Am I sensing some class envy here? I don't think that because one has not been able to get in on the boom, that they should start knocking others for their success. And I am nowhere near that 500k house either!

I suppose if you 'overlook" regional area's, this may be true.

For example, let's take Detroit, where the big three ARE the employers (and suppliers related). I suppose if you dont take in account that in 6 months 50,000 persons emigrated OUT OF Detroit area in search of jobs this year, primarily moving to the south and west. I suppose if you say a job "buyout" by your employer doesn't constitute "unemployment".

Yup, in one region, over 150,000 are either losing their jobs, have lost their jobs, been "bought out" by their employer (in fear of just being fired if they didn't accept it), and moved to an area where at least one could get a job for half their prior wage.

We are cooking with gas and the economy is just awsome ain't it.

America is facing now this problems with our economy.

Wholesale sellout of core strategic assets to foreign acquirers
Decline of vital industries through bankruptcy, foreign predatory competition, Lets look at our overall economy, for those that think that our nation is economically strong . . . I say we are more vulnerable than ever before.

One of the success this administration is having is only attaching the employment rates to monthly data but it completely ignore the overall situation of our economy.

Is more complicated than claiming job and economy grow while forgetting the overall problems facing our nation.

1- Decline of vital industries through bankruptcy, foreign predatory competition, and foreign acquisition.
2- Inability to manufacture competitively
3- Overdependence on imports
4- Massive wealth transfer to foreign ownership
5- Loss of job and career opportunities for people at all educational levels
6- Transition to low-paying services-oriented (“servant”) economy
7- Insourcing of foreign manufacturers destroys our domestic industries, takes profits and taxes overseas, and provides only low-skill jobs for American workers
8- Foreign financing of vast majority of government debt
9- Record levels of personal and government debt

10- Misleading commonly used economic statistics: misleading incomplete statistics like GDP, job creation, and productivity belie our crumbling economic infrastructure

Guess what people for more information on how the overall above affect our nation and economy read the link.

www.economyincrisis.org...

Our biggest creator of jobs now in the US is Wal-Mart if the overall health of the economy is counting on Wal-Mart to keep the employment rates looking good then we are truly been deceived.

In the past 10 years, Wal-Mart has grown into the largest retailer in the world — number 1 among the Fortune 500 — and is America’s largest employer.

Guess under what category Wal-Mart falls?

Yes you got it Services, the article said this on this month unemployment rates that . . . from the source.

Most of the hiring in October was in service industries, where 152,000 jobs were created, while goods-producing industries shed 60,000 jobs.

[edit on 5-11-2006 by marg6043]

Originally posted by marg6043
Guess under what category Wal-Mart falls?

Guess what happens IF Walmart falls.

I think we are better off economically if we keep buying stuff from China thru Walmart, no?