Unemployment Rate at 7.8

[Dystopian]

As much as I hate my job, I'm very thankful that Ive got it.

 

[TheNewYorker]

The unemployment rate is at 7.8 percent. Is anyone bitching and moaning?

7.8%... of Americans that are either employed, or actively looking for work.

The real % of Americans unemployed is something more like 60% of the total population that is eligible to work (i.e. adults ages 18-60).

But Obama wont' tell you that.

 

[Henry Rogue]

Sure, and I'm 29 yrs old........

What is that in cat years?

 

[Henry Rogue]

Should be closing in on 7.0% even by the end of the year. The trend is good!

Jordan Your faith in the keynesian model is unflappable. Have you ever considered that left alone the economy would have recovered quicker?

 

[Zippyjuan]

Two things will probably slow the January figures. One is holiday temporary help being let go. Two is the still remaining uncertainty about the budget issues. Companies are holding off more hiring until they get a better idea of the future.

 

[Zippyjuan]

7.8%... of Americans that are either employed, or actively looking for work.

The real % of Americans unemployed is something more like 60% of the total population that is eligible to work (i.e. adults ages 18-60).

But Obama wont' tell you that.

If somebody is not looking for a job, should we count them as being unemployed?

According to the Bureau of Labor Statistics, the Labor Force Participation Rate was 66.3% in December 2002. In December 2012 it was 63.6%.
http://data.bls.gov/timeseries/LNS11300000

 

[oyarde]

Say it is 50 or 60 % , that is not enough taxpayers to keep spending going without adding 5 -6 trillion in debt every four years or so , I imagine.Spending cuts have to happen, or fail , we all know there is no intent to cut spending , leaving one result.

 

[oyarde]

Medicare would have to be cut to the bone ( eliminated or only for the destitute ), Social Security money would have to be pulled out into a seperate fund, defense would have to be cut, about everything else eliminated .Never going to happen.

 

[rockerrockstar]

re

The problem is that they don't count people that can no longer apply for unemployment benefits as unemployed in their numbers. I hate they say people that are no longer claiming unemployment benefits as being people that gave up looking for work. I believe most are people that no longer can claim benefits because they ran out of benefits. There is a ton of long term unemployed people that they called hopelessly unemployed people. The government needs to do something help out those that no longer get benefits that have been out of work for a year or two.

This article below says there are 3 million hopelessly unemployed people that is about 10 percent of the US population. So add 7.8 + 10 = almost 18 percent real unemployment.

http://money.cnn.com/2013/01/04/news/economy/hopelessly-unemployed-workers/

 

[Zippyjuan]

The problem is that they don't count people that can no longer apply for unemployment benefits as unemployed in their numbers. I hate they say people that are no longer claiming unemployment benefits as being people that gave up looking for work. I believe most are people that no longer can claim benefits because they ran out of benefits. There is a ton of long term unemployed people that they called hopelessly unemployed people. The government needs to do something help out those that no longer get benefits that have been out of work for a year or two.

This article below says there are 3 million hopelessly unemployed people that is about 10 percent of the US population. So add 7.8 + 10 = almost 18 percent real unemployment.

http://money.cnn.com/2013/01/04/news/economy/hopelessly-unemployed-workers/

Not exactly true. To be in the workforce, you must meet two criteria. One- have a paid job- be working. Or number two- not have a job but be actively looking for one. If you aren't looking for a job, you aren't in the workforce and you aren't considered unemployed.

Whether or not you are receiving any sort of unemployment benefits does not add or remove you from being considered unemployed. If your benefits run out and you don't look for work, yes- then you will not be considered to be part of the work force. If your benefits run out and you are actively looking for a job and not working for money, you will still be counted as unemployed and in the workforce.

To be elgible to be on unemployment, you are supposed to be looking for a job but people may fudge on that to collect the money. Once the benfits do run out, they may fess up and say they aren't looking for a job. That WILL get them considered no longer in the workforce.

They conduct telephone surveys and ask thousands every month a series of questions to try to determine if they are working or looking for a job.

From the CNN article:

They're not counted as part of the labor force, the official unemployment rate, or the category the Labor Department refers to as "discouraged workers" -- those who haven't bothered to look for work in the last four weeks.

 

[Origanalist]

What is that in cat years?

Too many......