Actual unemployment is 37.2%

ZappasGuitar said:
Well if he's going to make up some ridiculous bullshit, then why shouldn't he make it ASTOUNDINGLY IDIOTIC bullshit?

And here we go...from the article you posted:

"This number obviously includes some people who are not or never plan to seek employment."

How bout that?

Turns out it's just another attack piece from another hate filled Rightie.
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Those people are unemployed, aren't they?
 
are retied folks unemployed too? what about adults going to school full-time? people in county locks ups? do they all count as "unemployed"?
 
1966stang said:
Nahhh....Bush isn't smart enough to create the gigantic clusterfuck our economy became on his own. He had 25 years of supply side economics putting wind in his sails, and republicans held congress and also the senate until 2006.
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is that why things didn't go bad until 2007?.....
 
christiefan915 said:
....
ut wait, isn’t Marotta including as “unemployed” people who really aren’t in the job market such as retirees and college students and stay-at-home moms — as well as discouraged potential workers? He sure is ...
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Actually, no he's not. According to the GovCo site:

"Labor Force Statistics from the Current Population Survey" is currently 62.8%.

The pertinent definitions are:

  • Labor force (Current Population Survey):
    The labor force includes all persons classified as employed or unemployed in accordance with the definitions contained in this glossary.
  • Employed persons (Current Population Survey)
    Persons 16 years and over in the civilian noninstitutional population who, during the reference week, (a) did any work at all (at least 1 hour) as paid employees; worked in their own business, profession, or on their own farm, or worked 15 hours or more as unpaid workers in an enterprise operated by a member of the family; and (b) all those who were not working but who had jobs or businesses from which they were temporarily absent because of vacation, illness, bad weather, childcare problems, maternity or paternity leave, labor-management dispute, job training, or other family or personal reasons, whether or not they were paid for the time off or were seeking other jobs. Each employed person is counted only once, even if he or she holds more than one job. Excluded are persons whose only activity consisted of work around their own house (painting, repairing, or own home housework) or volunteer work for religious, charitable, and other organizations.
  • Unemployed persons (Current Population Survey)
    Persons aged 16 years and older who had no employment during the reference week, were available for work, except for temporary illness, and had made specific efforts to find employment sometime during the 4-week period ending with the reference week. Persons who were waiting to be recalled to a job from which they had been laid off need not have been looking for work to be classified as unemployed.

Zappas can now clean up the jizz from his keyboard.
 
1966stang said:
Nahhh....Bush isn't smart enough to create the gigantic clusterfuck our economy became on his own. He had 25 years of supply side economics putting wind in his sails, and republicans held congress and also the senate until 2006.
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So you think supply side economics caused the mortgage collapse? Do share your vast economic knowledge and explain how it did that.
 
ZappasGuitar said:
Well if he's going to make up some ridiculous bullshit, then why shouldn't he make it ASTOUNDINGLY IDIOTIC bullshit?

And here we go...from the article you posted:

"This number obviously includes some people who are not or never plan to seek employment."

How bout that?

Turns out it's just another attack piece from another hate filled Rightie.
Click to expand...

You probably think that the BLS actually counts all the people who can't get a job don't you?
 
AssHatZombie said:
People who aren't looking for work are still unemployed. Aren't liberals supposed to be for the people? You do the majority of americans a disservice when you paint a rosy picture of the economy just because YOUR GUY is in office.
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Hell just froze over; brilliant post. You've been thanked.
 
maineman said:
nah... they started to go bad when Dubya decided to start a war of choice and put it on the credit card.
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You just keep parroting the same dumb false claims over and over again no matter how many times you're proven wrong. I think it is a sign of mental retardation. I bet you think Bush was alone in his decision too don't you shit-for-brains.

Just like your ignorant canard about Bush lying us into war.

Please show me a war that was ever fought with a surplus; by ANY nation shit-for-brains.

But alas; no matter how many times we beat the facts into that head of yours, there's nothing inside to comprehend it. You're a brain dead dunce who mindlessly parrots the dimwitted talking points you have been fed.

Dishonest and stupid; yay you!
 
christiefan915 said:
Bet David John Marotta's motto is "never give a sucker an even break."

"Here is the headline: “Wall Street adviser: Actual unemployment is 37.2%, ‘misery index’ worst in 40 years”. Now what sort of mathematical and economic wizardry did Marotta use to arrive at the “real” unemployment rate of 37.2%? Prepare to have your mind blown as I reverse engineer his sophisticated calculations.

Marotta went over to the Bureau of Labor Statistics web site and found the current labor force participation rate, which is 62.8%. That number represents the share of the adult, non-military, non-jailed population who have a job or are actively seeking work.

Then Marotta subtracted that number from 100. That’s it. 100 – 62.8 = 37.2. Voila! Since 37.2% of the civilian, noninstitutional population is neither employed nor actively seeking working, then are “unemployed.” Hey, that’s even higher than the unemployment rate during the Great Depression! Doom! Gloom!

ut wait, isn’t Marotta including as “unemployed” people who really aren’t in the job market such as retirees and college students and stay-at-home moms — as well as discouraged potential workers? He sure is — which is why the 37.2% number is absolutely ridiculous and tremendously overstates labor market weakness. A total joke. Using Marotta’s “logic,” maybe the “real” unemployment rate is merely the share of of the civilian noninstitutional without a job. That comes out to a whopping 44.5%! The Greatest Recession!

Now the current unemployment rate probably does understate job market weakness because of the sharp decline in the labor force participation rate. But there is lots of debate as to how much of that LFPR decline is due to demographics and how much is due to anemic labor demand. Maybe the “real” unemployment rate is 8% or 9% or 10%. But anyone who tells you it’s nearly 40% is selling the apocalypse. Indeed, Bedard notes that Marotta “recently advised those worried about an imploding economy to get a gun.” What’s more, I am guessing his take on the “real” inflation rate is similarly dubious. Drudge and the Examiner are pretty widely followed on the right. I hope this 37.2% number doesn’t metastasize into a GOP talking point. That would be embarrassing."

http://www.aei-ideas.org/2014/01/is-the-real-unemployment-rate/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+aei-ideas%2Feconomics+%28AEIdeas+%C2%BB+Economics%29



More info on how these fear mongers get their numbers.

Shadow Government Statistics
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Let's try to follow the threads argument before our panties get in a bunch in defense of the buffoon in the White House. The author called it "actual" unemployment, not real. He is trying to illustrate what is actually occurring and not put lipstick on the pig Obama has created.

REAL unemployment is more like 17% which is still very bad and historically high. The economy is a disaster with more to come and this has been the worst recovery since Roosevelt's failed initiatives which were also massive Government efforts spending vast amounts we did not have.

So regardless of whether we are debating his "actual" unemployment, or "real" unemployment, this economy is a disaster and no amount of lipstick you try to smear it with will make it look purty.
 
Right said:
Actually, no he's not. According to the GovCo site:

"Labor Force Statistics from the Current Population Survey" is currently 62.8%.

The pertinent definitions are:

  • Labor force (Current Population Survey):
    The labor force includes all persons classified as employed or unemployed in accordance with the definitions contained in this glossary.
  • Employed persons (Current Population Survey)
    Persons 16 years and over in the civilian noninstitutional population who, during the reference week, (a) did any work at all (at least 1 hour) as paid employees; worked in their own business, profession, or on their own farm, or worked 15 hours or more as unpaid workers in an enterprise operated by a member of the family; and (b) all those who were not working but who had jobs or businesses from which they were temporarily absent because of vacation, illness, bad weather, childcare problems, maternity or paternity leave, labor-management dispute, job training, or other family or personal reasons, whether or not they were paid for the time off or were seeking other jobs. Each employed person is counted only once, even if he or she holds more than one job. Excluded are persons whose only activity consisted of work around their own house (painting, repairing, or own home housework) or volunteer work for religious, charitable, and other organizations.
  • Unemployed persons (Current Population Survey)
    Persons aged 16 years and older who had no employment during the reference week, were available for work, except for temporary illness, and had made specific efforts to find employment sometime during the 4-week period ending with the reference week. Persons who were waiting to be recalled to a job from which they had been laid off need not have been looking for work to be classified as unemployed.

Zappas can now clean up the jizz from his keyboard.
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Really? Check this link. http://data.bls.gov/timeseries/LNS11300000

62.8% is the lowest it's been in the last ten years. And note that the drop really started in January 2009.
latest_numbers_LNS11300000_2003_2013_all_period_M12_data.gif
 
christiefan915 said:
Really? Check this link. http://data.bls.gov/timeseries/LNS11300000

62.8% is the lowest it's been in the last ten years. And note that the drop really started in January 2009.
latest_numbers_LNS11300000_2003_2013_all_period_M12_data.gif
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Yes, the employed rate, currently 62.8%, is the lowest it's been in ten years, has started dropping shortly after The Obama became president and has been dropping ever since.

You seem to be acknowledging both that The Obama has destroyed jobs, and that the actual unemployment rate is in fact astronomical.
 
Right said:
Yes, the employed rate, currently 62.8%, is the lowest it's been in ten years, has started dropping shortly after The Obama became president and has been dropping ever since.

You seem to be acknowledging both that The Obama has destroyed jobs, and that the actual unemployment rate is in fact astronomical.
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So you think a drop of 3.6% is "astronomical"? Alrighty, then.

Just for kicks, how did Obama "destroy jobs"? He kept tax cuts for the rich and we all know the rich are job creators, ha ha.
 
christiefan915 said:
So you think a drop of 3.6% is "astronomical"? Alrighty, then.

Just for kicks, how did Obama "destroy jobs"? He kept tax cuts for the rich and we all know the rich are job creators, ha ha.
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Yes... It is massive, translate it into how many millions of people that is. you will quickly see why it is important.
 
christiefan915 said:
So you think a drop of 3.6% is "astronomical"? Alrighty, then.

Just for kicks, how did Obama "destroy jobs"? He kept tax cuts for the rich and we all know the rich are job creators, ha ha.
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No it's not a big deal; after all, it's only 2.7 million people who have given up any hope of finding a job.

But that's okay; because Obama will blame Republicans for not passing never ending unemployment bennies, not passing another unfunded $450 billion porkulus bill euphemistically called a jobs bill and continue to convince willful dunces like you that he's never to blame for ANYTHING that happened over the last five years.
 
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