Jobless rate jumps to 9.8%

That sets a new record for post world war II. 19 months of unemployment greater than 9%. And the recession is OVER?

Economic terms and data truly don't reveal the big picture with the American economy. The rate at 9.8% is truly disturbing, and it doesn't reflect misplaced workers or part-time. And, the good paying jobs are not coming back, like those in manufacturing. We've lost our real base of industries...so, I believe the people that say, this is the new normal.

I agree with you that this is probably the new norm amd these numbers do not include people that have given up looking for jobs and the forced part time workers because they can't find full time work. That real number is closer to 20%

Oh where oh where has that American dream disappeared to... oh yea, OVERSEAS!!!!

The US is a joke. A complete joke.

By the 3rd quarter of next year I am moving out of this crap-hole never to look back. Moving out of the country to get my American dream that I used to so optimistically believe I would have. Leaving this CRAP-HOLE is the way to get that dream that I have been wanting. I am just GLAD that I can AFFORD to leave, as MANY folks would like to get out of here also but cannot afford it. I feel badly for them...

Its a good thing that my job involves traveling to other countries so that I can see thru the AMERICAN PROPAGANDA BRAINWASHING that says it is the "GREATEST COUNTRY in the world". Yea right!!! America is a disaster once you leave and see what other countries have to offer. Like a LIFE-TIME VACATION compared to America.

I have experienced both worlds, so I know whats nonsense and whats real. America is good if you want to cater to the wealthy snakes of the world who exploit you where you live pay check to paycheck and at any moment you can become bankrupt by the horrible heath care here. No jobs, terrible health care, foreclosures, no life, all worries, no future, ugghh.

Cant wait to get the FLIP out of here.

I was going to post something about this, until I found your post, except my title would have been:

"What the Hell, Are Jobs up or Down?"

Just a few days ago CNN Money was stating that the economy is bouncing back and unemployment sunk to the lowest in months, now they are claiming it's higher now then ever?

Would someone please get there damn story right and stop lying to the american people?

This is uncalled for yet the media is just going with what they are told to write, and don't question it when one day they say it's up and the next it's way down.

I'm Just tired of being lied to.

Given that we are now into the area of seasonal Christmas jobs, I find these numbers very disconcerting..
no matter how they spin it I am not sure how much longer the true position can be hidden from the public..

I loved how the media talking heads like CNN & Wolf bliz tired to defend obama on this it was preciously!

reply to post by ibiubu


You are absolutely correct. These figures way understate the employment statistics. Are people who are moved from salary with benefits to hourly without considered unemployed? No, despite a significant reduction in income. Are folks who are 1099 workers, essentially self-employeed who can't find work considered unemployed? No. In fields like IT where there are large numbers of 1099 people who now can find about 15% of the work they used to find, this is a very large number. Are people who work under the table that lost their jobs considered unemployed when they lose their jobs? Are folks who are put on lengthy furloughs considered unemployed? No.

Unemployment statistics are notoriously understated. The real figure is likely 50% higher

Here's some stats to add, but ignoring the 'unemployment' number given.

November 2008
US Population - 305.3M
Civ NI Pop - 234.8M (76.9% of US Population)
Labor force - 154.6M (50.6% of US Population)
Employed - 144.1M (47.2% of US Population)

November 2010
US Population - 310.7M (+5.3M)
Civ NI Pop - 238.7M (+3.9M) (76.8% of US Population)
Labor force - 154M (-613T) (49.6% of US Population)
Employed - 138.8M (-5.2M) (44.7% of US Population)

I extrapolated the US Population number for November 2010 from population growth. The number claimed by the BLS for Civilian Non-Institutional Population calculates to .01% of the calculated US Population. Close enough to validate the US Population number used to calculate percentages for the other values.

The Labor force number shrunk when it should've grown with population. The unemployment number is (employed / labor force = unemployment%). So by skewing the labor force number, the BLS skewed the unemployment percentage. If the labor force stayed at 50.6% of the US population, it should be 157.2M instead of 154M.

Employed number obviously dropped.

So, given unemployment % = employed / labor force, we get:

138.8 / 157.2 = 11.7% current unemployment rate

reply to post by thewholepicture


that's because the gov't loves to report the decline in jobless claims. What they don't tell you is that, thanks to very extended periods of unemployment, one reason for the drop in claims is simply because the benefit ran out. Doesn't automatically translate as "less claims means more people working"

it could very well mean "less claims, more people with absolutely no hope"

Ah, there's one more thing I wanted to point out.

A record 99.8 Million Americans are not working!

Never before have this many Americans not been working.

Take a look at Civilian noninstitutional population, and subtract the number of employed. You get the total not working. Ref: ftp.bls.gov...

(Note: Numbers below in thousands)

Total not working
November 2008 - 90,684
October 2009 - 98,275

reply to post by fltcui


This just in, Unemployment has hit 100 percent. At what point do we create our own way of living and stop relying on green paper to live??? How did things ever get this far in the first place? Where did it all start? When did we stop providing for ourselves and start relying on paper with numbers printed on it to feed us?

Originally posted by Screwed
reply to post by fltcui

 

This just in, Unemployment has hit 100 percent. At what point do we create our own way of living and stop relying on green paper to live??? How did things ever get this far in the first place? Where did it all start? When did we stop providing for ourselves and start relying on paper with numbers printed on it to feed us?

It would be nice but the government with the guns makes us pay them with this green paper so we can do things like buy a car, pay property taxes and such.

watch for the next unemployment rate change....it will go down because 1.5 million people will come off because their benefits run out in December.