15.6 Million Total Currently Unemployed

newsletters.agc.org...

The national unemployment rate for the construction industry rose to 17.1 percent as another 64,000 construction workers lost their jobs in September, according to an analysis of new employment data released today. With 80 percent of layoffs occurring in nonresidential construction, Ken Simonson, chief economist for the Associated General Contractors of America, said the decline in nonresidential construction has eclipsed housing's problems.

newsletters.agc.org...

New figures showing an almost 5 percent increase in spending on single-family homebuilding and residential improvements mask the fourth consecutive monthly slide in nonresidential construction, a leading industry economist said today. Ken Simonson, chief economist for the Associated General Contractors of America, noted that spending on nonresidential construction projects declined in August by $3 billion, bringing the cumulative drop since August 2008 to $34 billion or 4.7 percent.

newsletters.agc.org...

"The problems facing the construction industry aren't just devastating construction workers, they are crippling our broader economy," said Stephen Sandherr, the association's chief executive officer. "Simply put, you can't fix our economy until you fix the construction industry."

www.whitehouse.gov...

Creating Jobs

"President Obama’s first priority in confronting the economic crisis is to put Americans back to work."

"The recovery plan will SAVE OR CREATE about 3.5 million jobs while investing in priorities that create sustainable economic growth for the future."


thirdbasepolitics.blogspot.com...

About those unemployment numbers....

By now you've likely heard about the 9.8% national unemployment rate as announced this morning.

But did you know that number could have been much higher had not the labor force massively decreased?

Once again, the unemployment rate would have risen by a much larger amount if the civilian labor force hadn’t lost 570,000 people since last month. As we mentioned in previous posts, the labor force normally increases by ~ 150,000/month, so that’s a huge, very unusual, decrease. In fact, had the labor force size simply remained the same, the unemployment rate would have jumped to 10.2%

blogs.abcnews.com...#

Biden Says "Bad News" of Unemployment Numbers Does Not Diminish Confidence in Economic Recovery

freakonomics.blogs.nytimes.com...

I don’t usually write about macro things. But a journalist asked me about the duration of unemployment, and I checked out how this recession compares to previous ones. I looked at the percentage of the unemployed who have been out more than 26 weeks in past recessions: July 2009, 34 percent; July 2003, 22 percent; July 1992, 22 percent; and even in the very deep and long 1980 to 1982 double-recession it was 25 percent in July 1983. “So what?” you might ask, since the unemployment rate this time is not likely to reach the 10.8 percent of late 1982.

The answer is that the welfare effect of unemployment depends on its duration. Society is worse off at 10 percent unemployment if that figure is concentrated on a small number of long-term unemployed than if it’s spread more evenly across the labor force. A few weeks of unemployment don’t exhaust savings and don’t lead to great depreciation of skills. A year of unemployment can do both.

By this important criterion, this recession has had the biggest negative impact since the Great Depression.

investment-blog.net...#

This is what caught my eye:

If you will accept that while people get discouraged, no one really drops out of the labor force (stops looking for work) unless they have saved $$, rich relatives or are wealthy themselves, then the 500k that purportedly dropped out of the labor force should be added to the 15.1 million considered currently unemployed, for a grand total of 15.6 million total currently unemployed.

www.bloomberg.com...#

Oct. 2 (Bloomberg) — The U.S. economic slump earlier this year was so severe it short-circuited the government’s model for calculating payrolls, raising the risk that today’s jobs report may be too optimistic. (MORE)


So if "Obama's recovery plan will SAVE OR CREATE about 3.5 million jobs, and they dont expect the unemployment rate to go down any time soon, doesnt that mean that aproximately 11.6 million people at best have no chance of finding a job anytime soon?






[edit on 6-10-2009 by liveandletlive]

[edit on 6-10-2009 by liveandletlive]

reply to post by liveandletlive


Add one more my brothers factory got shut down, Gone to China... Man I love this country

What do you make of this?

If what you are saying is right then the unemployment rate would be around 22.5% (350/15.6). Thats a long stretch from the given 9.8.

This is interesting from bls.gov
"The civilian labor force participation rate declined by 0.3 percentage point
in September to 65.2 percent."

Dont worry, they say everything is ok and you just need to be patient. If your eligable, you might get your unemployment benefits extended. If not you just dont exist!

reply to post by Linksncontrol


I tried to figure it out but I kept getting confused. But clearly they manipulate the numbers to paint a much better picture!

Well you need to add at least 10% to every count simply because of those that haven't worked in the past 6 months. There is every reason to be confused. Everyone with common sense knows the numbers are being downsized to make things look better.

reply to post by liveandletlive


Thanks for gathering that info. This has been bothering me for months. Here are some other details to consider like what demographics are being hit hardest.

Center for American Progress

Unemployment stays high among the most vulnerable. The unemployment rate was 9.8% in August 2009. The African-American unemployment rate that month stood at 15.4%, the Hispanic unemployment rate at 12.7%, and the unemployment rate for whites at 9.0%. Youth unemployment stood at a towering 25.9%. And the unemployment rate for people without a high school diploma remained high, standing at 15.0%, compared to 10.8% for those with a high school degree and 4.9% for those with a college degree.

The unemployed are out of a job for long periods. The average length of unemployment in September 2009 was 26.2 weeks, the median length of unemployment was 17.3 weeks, and 35.6 % of the unemployed were out of a job for 27 weeks or more. All of these indicators are at their highest level since 1948.

Talk of recovery is absurd. We will need to be reporting the addition on 1 million jobs EVERY MONTH for the next 12 months to recover.

A million new jobs a month for a year. This is not happening any time in the near future. Maybe 500k a month for 2 years, but right now we are still losing that figure.

We need a miracle.

moneycentral.msn.com...

A jobless recovery can't go on for long!

So whats all this talk about recovery. If we are not creating enough jobs to re-employ the unemployed and our economy is a consumer based economy, just exactly how is the economy suppose to recover?? These people are blowing smoke!

Originally posted by Absum!
reply to post by liveandletlive

 

Talk of recovery is absurd. We will need to be reporting the addition on 1 million jobs EVERY MONTH for the next 12 months to recover.

A million new jobs a month for a year. This is not happening any time in the near future. Maybe 500k a month for 2 years, but right now we are still losing that figure.

We need a miracle.

My thoughts exactly, just what miracle could create that many jobs? War? we already have two. Population reduction? Oh wait a minute, less people more jobs, problem solved!

edit to add: who wants to volunteer to help out their fellow countrymen and women?

[edit on 6-10-2009 by liveandletlive]

Where is the unemployment money for the latest extention?????

Thats what i'd like to know.

Now they're trying to say that people really dont want to work, they just want to stay home and collect. I beg to differ, i worked all my life and cant find a job even at McDonalds!!!!!

Send me the money!

Originally posted by Linksncontrol
What do you make of this?

If what you are saying is right then the unemployment rate would be around 22.5% (350/15.6). Thats a long stretch from the given 9.8.

This is interesting from bls.gov
"The civilian labor force participation rate declined by 0.3 percentage point
in September to 65.2 percent."

Your math is upside down

The population of the United States is about 304 million. If you wanted to see what percentage 15.6 mil out of 304 mil is, then you do 15.6/304, which gives you only 5% unemployment, which is so good, it makes you wonder why they didn't try to trick us whith those numbers

Is it true that many Americans are moving to China, in order to find work?

reply to post by MegaCurious


Erm, it's not counted that way. You're including babies, toddlers, twinks, retired elderly, etc. The percent of unemployment is counted against the adult population.

Originally posted by MegaCurious

Originally posted by Linksncontrol
What do you make of this?

If what you are saying is right then the unemployment rate would be around 22.5% (350/15.6). Thats a long stretch from the given 9.8.

This is interesting from bls.gov
"The civilian labor force participation rate declined by 0.3 percentage point
in September to 65.2 percent."

Your math is upside down

The population of the United States is about 304 million. If you wanted to see what percentage 15.6 mil out of 304 mil is, then you do 15.6/304, which gives you only 5% unemployment, which is so good, it makes you wonder why they didn't try to trick us whith those numbers

You know all we need to do is lower the child labor law age limit and then we can use that number.

Which reminds me. Did anyone else see the new story about Obama wanting to extend the school days for children?

I saw that and thought, "Is he promoting more education, or extending my work day so I can produce more." Makes you wonder.

I was dreaming of working in France with their work standards last week, 35 hour work week, 5 weeks vacation, full medical.

You know we give the French a ribbing in the US, but when the French citizens are angry they actually take to the streets and shut down the system.

Imagine what happens when you add in all those military personnel, that come back from the Iraq and Afghanistan (and other) campaigns. What kind of percentages would that make, another million or so that would be out of work? The unemployment number would be more like 13% maybe? Then add in all who have given up trying or have fallen off the unemployment rolls or ended up on welfare. I think the final number is around 25 to 28%.

www.dailyreckoning.com.au...

U.S. Government Hiding Real Unemployment Numbers
May 13th, 2008

In fact, there are now more people on Government Payrolls (22,385,000) than Goods Producing payrolls (21,618,000)!

I tried to find recent numbers but wasnt able to find any. Im not sure if this number includes states ect. but just how much in taxes would need to be collected to pay for just the government payroll? With so many unemployed and not paying taxes, how will we continue to sustain out of control government spending.

Might be a bit higher that 15.6 Million...

Source: ftp.bls.gov...
Image: files.abovetopsecret.com...

Click on the image link above to see where BLS states that 138 Million are employed and 236 Million are not employed. Funny how they list 'Persons who currently want a job' and the trivial 800K increase as opposed to the 8.2M increase in unemployed in one year.

[atsimg]http://files.abovetopsecret.com/images/member/e658a4270314.jpg[/atsimg]