All Threads by Date

You really think unemployment dropped?

Fuck Romney. And Fuck Obama. The economy sucks because the BIG BANKS control it! --- October 5. Today’s employment report from the Bureau of Labor Statistics shows 114,000 new jobs in September and a drop in the rate of unemployment from 8.1% to 7.8%. As 114,000 new jobs are not sufficient to stay even with population growth, the drop in the unemployment rate is the result of not counting discouraged workers who are defined away as “not in the labor force.” According to the BLS, “In September, 2.5 million persons were marginally attached to the labor force.” These individuals “wanted and were available for work,” but “they were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey.” In other words, 2.5 million unemployed Americans were not counted as unemployed. The stock market rose on the phony good news. Bloomberg’s headline: “U.S. Stocks Rise as Unemployment Rate Unexpectedly Drops.” A truer picture of the dire employment situation is provided by the 600,000 rise over the previous month in involuntary part-time workers. According to the BLS, “These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.”


Thread Watcher
[Help]
log
Click here if you are using an iPhone or iPad

DataLounge get your fix of gay gossip, news and pointless bitchery.

Settings

Talking to DataLounge servers.
Please wait a moment...