Archived

This topic is now archived and is closed to further replies.

Jobless rate falls to 7.8%

104 posts in this topic

Posted · Report post

There might actually be something to this conspiracy theory.

Number of people employed increased from 142,101,000 to 142,974,000. (+873,000)
Number of people employed part-time for economic reasons increased from 8,031,000 to 8,613,000 (+582,000)

What do you get when you divide 582000 by 873000?

Exactly 2/3.

What are the odds?

Share this post


Link to post
Share on other sites

Posted · Report post

Economists also skeptical.

They are saying we would need GDP close to 5% to get this kind of job growth.
Ours in fact is shrinking and at 1.3% currently.

Share this post


Link to post
Share on other sites

Posted · Report post

haha. jase nailed it with the 2/3. nothing more to see here.

Share this post


Link to post
Share on other sites

Posted · Report post

I haven't looked at the numbers today, but doesn't part time employment always start to pick up this time of year.

Share this post


Link to post
Share on other sites

Posted · Report post

[quote name='Davidson Deac II' timestamp='1349466155' post='1935284']
I haven't looked at the numbers today, but doesn't part time employment always start to pick up this time of year.
[/quote]
Yes and retailers said they planned to hire more holiday help this year than they have in years past.

Share this post


Link to post
Share on other sites

Posted · Report post

But not in September

Share this post


Link to post
Share on other sites

Posted · Report post

[quote name='Davidson Deac II' timestamp='1349466155' post='1935284']
I haven't looked at the numbers today, but doesn't part time employment always start to pick up this time of year.
[/quote]

The calculation does not include seasonal jobs

[quote][color=#333333][font=Tahoma, Arial, Helvetica, sans-serif][size=3]Total employment and unemployment are higher in some parts of the year than in others. For example, unemployment is higher in January and February, when it is cold in many parts of the country and work in agriculture, construction, and other seasonal industries is curtailed. Also, both employment and unemployment rise every June, when students enter the labor force in search of summer jobs.[/size][/font][/color]
[color=#333333][font=Tahoma, Arial, Helvetica, sans-serif][size=3]The seasonal fluctuations in the number of employed and unemployed persons reflect not only the normal seasonal weather patterns that tend to be repeated year after year, but also the hiring (and layoff) patterns that accompany regular events such as the winter holiday season and the summer vacation season. These variations make it difficult to tell whether month-to-month changes in employment and unemployment are due to normal seasonal patterns or to changing economic conditions. To deal with such problems, a statistical technique called seasonal adjustment is used. This technique uses the past history of the series to identify the seasonal movements and to calculate the size and direction of these movements. A seasonal adjustment factor is then developed and applied to the estimates to eliminate the effects of regular seasonal fluctuations on the data. When a statistical series has been seasonally adjusted, the normal seasonal fluctuations are smoothed out and data for any month can be more meaningfully compared with data from any other month or with an annual average. Many time series that are based on monthly data are seasonally adjusted.[/size][/font][/color][/quote]

Here is more information on how the percentage is calculated (every time) if people are interested.
[url="http://www.bls.gov/cps/cps_htgm.htm#sa"]http://www.bls.gov/cps/cps_htgm.htm#sa[/url]

Share this post


Link to post
Share on other sites

Posted · Report post

[quote name='stirs' timestamp='1349470635' post='1935373']
But not in September
[/quote]
I don't know what qualifies as getting a job, the day you are hired, or the day you start, but I worked retail in college for a couple years and we started hiring for the holidays in September, but they didn't start working until October. Not sure when all stores do it, but I can't imagine there is much difference between major retailers.

Share this post


Link to post
Share on other sites

Posted · Report post

How is it that with the continued "right direction" in the job numbers, the food stamp numbers deep going up?

Would it not make sense iif everyone is better off now than they were, say at the first of the year, then wouldn't the gov assistance numbers be going down also?

Share this post


Link to post
Share on other sites

Posted · Report post

Wow, conservatives making excuses.


Shocker.

Share this post


Link to post
Share on other sites

Posted · Report post

Those were actually questions, thus the ? at the end

Share this post


Link to post
Share on other sites

Posted · Report post

employment rate goes down, obama caused it. employment rate goes up, obama got lucky/it's not true/lamestream liberal demoRAT media is lying.

got it.

Share this post


Link to post
Share on other sites