Lula wrote:conversationpc wrote:Lula wrote:looks like there have been more jobs created over the past year than the previous president's time in office. we've got a long road back, but it is promising. look at our auto manufaturing just shy of 30,00 to toyota for the best! great to think of "made in america" making a much needed comeback

I'll start putting some credence in those numbers when the unemployment rate gets anywhere within a light year of what it was previous to Obama's time in office.
is this not correct then?
http://www.tradingeconomics.com/Economi ... Symbol=USDYear Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2010 9.70 9.70 9.70 9.90 9.70 9.50 9.50 9.60 9.60 9.60 9.80 9.40
2009 7.70 8.20 8.60 8.90 9.40 9.50 9.40 9.70 9.80 10.10 10.00 10.00
2008 5.00 4.80 5.10 5.00 5.40 5.50 5.80 6.10 6.20 6.60 6.90 7.40
* The table above displays the monthly average.
You might wanna get a bit more edumacated on the topic before you start dancing on tables...
The Bureau of Labor Statistics has 6 measures of unemployment:
- U1: This is the proportion of the civilian labor force that has been unemployed for 15 weeks or longer. This unemployment rate measures workers who are chronically unemployed. During business-cycle expansions, this rate captures structural unemployment. However, during lengthy business-cycle contractions, this rate is also likely to include a significant amount of cyclical unemployment. U1 tends to be relatively small, in the range of 1-2 percent.
- U2: This is the proportion of the civilian labor force that is classified as job losers (workers who have been involuntarily fired or laid off from their jobs) and people who have completed temporary jobs. During business-cycle expansions, this rate is likely to capture some degree of frictional unemployment. However, during business-cycle contractions, this rate is most likely to consist of cyclical unemployment. U2 is larger than U1, but still remains substantially less than the official unemployment rate (U3).
- U3: This is the official unemployment rate, which is the proportion of the civilian labor force that is unemployed but actively seeking employment.
- U4: This is the official unemployment rate that is adjusted for discouraged workers. In other words, discouraged workers are treated just like other workers who are officially classified as unemployed, being included in both the ranks of the unemployed and the labor force. It is technically specified as the proportion of the civilian labor force (plus discouraged workers) that is either unemployed but actively seeking employment or discouraged workers. The addition of discouraged workers generally adds a few tenths of a percentage point to the official unemployment rate.
- U5: This augments U4 by including marginally-attached workers to the unemployment rate calculation. Marginally attached workers are potential workers who have given up seeking employment for various reasons. One of these reasons is that the workers believe such effort would be futile, which places them in the discouraged worker category. Those who have other reasons for not seeking employment are placed in the broader marginally-attached workers category. The addition of marginally-attached workers adds a few more tenths of a percentage point to the official unemployment rate.
- U6: This augments U5 by including part-time workers to the unemployment rate calculation. The addition of part-time workers adds a full 2-3 percentage points to the official unemployment rate. This measure of unemployment is perhaps the most comprehensive measure of labor resource unemployment available.
The unemployment rate commonly used by the government is the "U-3" number... but the most complete measure of unemployment is the U-6 number..
The tables below are from the Bureau of Labor Statistics website.
This is what the government reports (and most believe) is real unemployment...
THIS is the real number...
....but wait it gets more interesting... or confusing....
When we look at the Civilian Labor Force Vs. the Civilian Labor Force Participation Rate... the drop in the U3 Rate (9.8 to 9.4) takes on a whole new meaning...
For the month of Dec there was a 260,000 person DECLINE in the Labor Force... but how can that be? More people died than were born? People give up looking for work? Most all economists agree the economy has to CREATE 250,000 NEW JOBS per month just to keep up with those entering the workforce for the FIRST TIME... hmmmmm....
And the Participation Rate the number went DOWN... so if unemployment was going DOWN... wouldn't the participation rate be going...
UP?
So the number the government tells you... doesn't necessarily mean what you think it does...