{^_^}

The overall unemployment rate to decline slightly to 9.5%. That still failed to meet analysts expectations,

How does the fact that 250K to1.2 mil people are kicked off the “unemployed rolls” and no longer counted as “unemployed” effect the overall number of “officially unemployed”?

I’m not as smart as Obama but it seems to me the fewer people you count as “unemployed” the lower the “officially unemployed” number will be, therefore the “decline slightly to 9.5%” is bogus.

Who in the world are these people who “quit looking for work”?
Were they the unemployed, who conceded that they’ll never find a job finally resorted to living off their stashes of cash?

Or, are these the people who ran out of unemployment and can no longer request benefits?

I’m going with the latter, which is very dreary and frightening.

betsyz on July 2, 2010 at 12:12 PM

Your second theory has nothing to do with discouraged workers except as an explanation for your first theory. Unless you mean… I need that Star Trek double *facepalm* pic used around here (along with the ability to post pics of course).

betsyz on July 2, 2010 at 12:12 PM

Its the 2.9 million people who did not look for work in the last four weeks according to the DoL. They didnt look for work because there aren’t any jobs.

Bear in mind this 2.9 million are the ones the DoL will admit they are not counting. There are actually quite a few more they do not count that they will not admit to.

They have changed the way they report and calculate these numbers several times since last October.

This is not the first time this year where the actual number of unemployed persons increased but the unemployment percentage dropped due to fraudulent accounting.

I am amazed at the American people’s appetite for Bozo baloney.

Small and medium businesses will shut down in even greater numbers than they are now and even more people will hit the bricks.

Or, are these the people who ran out of unemployment and can no longer request benefits?

I’m going with the latter, which is very dreary and frightening.

B/D Ratio (Birth/Death) added 147,000 jobs – keeping the negative numbers from being far worse than they really are

U-6 = 16.5%

LordMaximus on July 2, 2010 at 9:12 AM

So right. 147,000 phantom jobs created this month by the birth/death model. Since February 2010, 728,000 phantom jobs created.

That exceeds Obama’s assertion of 600,000 jobs created this year meaning we’ve actually had job losses to the tune of 128,000. For this month, strip out the fake b/d jobs and you have a negative 64,000 created.

But hey, “we’re moving in the right direction”. What a clueless fool…

Dingbat63 on July 2, 2010 at 11:26 AM
Yeah, and what about that stormtrooper alone on the subway?

It’s not surprising people stopped looking. One can now get 99 weeks unemployment. I’d stop looking for work too if I knew I had 2 years of govt checks coming.

angryed on July 2, 2010 at 8:52 AM

They’ve been getting 2 years of unemployment for 2 years now, and in June the further extension was voted down ending I believe it was 500k people’s benefits. So why did they leave the job market exactly?

Anyways, I’m tired of explaining how the unemployment rate is calculated in every one one of these threads (not just on hotair but other conservative sites). Maybe I’ll just write it up in Word and then copy & paste it or something.

There was a bill passed early this year that will take care of that ratio.

Electrongod on July 2, 2010 at 9:19 AM

What bill was that exactly? If you mean Obamacare then I suspect you don’t understand what the B/D adjustment is.

You’re unemployed but because you haven’t looked for work in the past 4 weeks you’re not unemployed. Fundamentally flawed logic.
chemman on July 2, 2010 at 10:14 AM

They could certainly do it better but the general idea is if you aren’t looking for work you’re not in the labor market. If you’re not why should you be in most cases? I know we talk about the 3 million or so marginally attached or discouraged workers, but taken to the extreme and counting everyone not looking for work as unemployed we’d have soemthing like an extra 60 million unemployed people (and around a 33% unemployment rate).

The line between who those in the 63 million are looking for work and who isn’t has to be drawn somewhere. I do think it should be have you looked for work in the last 3 or 6 months instead of the last month.

Outside of that age bracket, there was a net overall decline in employment levels. Both teens (Age 16-19) and older workers (Age 25+) saw their total employed numbers fall.

Digging into the numbers for this month, we see that the Age 20-24 group’s employment level fell, as we might expect from the Census layoffs, as the majority of these jobs added in May were temporary.

We also see a mild worsening for older age groups in the new jobs report, but the real news is that the employment situation for teens dramatically worsened. Prior to the June jobs report, teen employment levels had been either flat or improving since January.

That’s significant because teen employment trends tend to lead the trend for the entire U.S. workforce by about a year, thanks to teens representing the most marginal members of the U.S. workforce (compared to older workers, teens are less educated, experienced and skilled – they are the age group most able to withdraw or be withdrawn from the U.S. workforce.)

With no increase in the minimum wage scheduled to occur in the future, the loss of teen jobs now is a direct result of a worsening economic outlook for the businesses that hire teens. Using teen employment as a year-ahead leading indicator, that would put the U.S. economy into contraction mode in the latter half of 2011.

Does anyone else think that these numbers have been cooked? These numbers have been “revised” in the past to reflect the reality of the jobs market. We’ve seen that in several quarterly reports. These numbers announced today just can’t reflect reality.

Is anybody there? Does anybody care? Does anybody see what I see?
1776 (the musical)

Happy 4th of July!!

the delusional liberal left would see the man behind the curtain.

Rovin on July 2, 2010 at 10:26 AM

YEP! Busshhh or Rove!

You’re unemployed but because you haven’t looked for work in the past 4 weeks you’re not unemployed. Fundamentally flawed logic. If we could convince these unemployed not unemployed people to look for work for at least 1 minute every 4 weeks then Americans would see the “real” unemployment rate.

Sigh.

chemman on July 2, 2010 at 10:14 AM

Just as the CBO “cooked the books” during the health care debate, the government is giving the public these fabricated numbers. If they published the “real numbers” the markets would tank and the delusional liberal left would see the man behind the curtain.

President Obama’s first major speech on immigration had the eloquence and clarity we have come to expect when he engages a wrenching national debate. In declaring the welcome of strangers a core American value, in placing immigrants at the center of the nation’s success and future, Mr. Obama’s exhortation was worthy of the late Senator Edward Kennedy, whose memory he respectfully summoned on Thursday. “Anybody can help us write the next great chapter in our history,” he said, regardless of blood or birth.

Can we get an amen, and pass the BS plate?

Since the Times sees no reason to mention that historically, this nation welcomed almost all immigrants with open arms and legal documentation, we should just bury our heads to the respect for laws that have kept this country “civilized”. Sending eleven million more into the dole of government dependency is just what Obama and the liberal socialist democrats are promoting. Eleven million more registered democrats relying on government entitlements and a current welfare system that will guarantee “Mexican-Americans” remain second class citizens and generational servitude to their masters in Washington. Further, the unions will see this as their own private voting block and they’ll create a lower pay scale, calling it “entry-level” as a promise to the American dream. We’re headed to the welfare mentality of the Carter era, where prosperity was defined by a government check, (at the working taxpayer’s expense), and a block of voters who will have no choice but to support their “handlers”. As unemployment remains high, the American worker will also become dependent upon the government’s “assistance”…..until the presses in Washington stop printing and the well runs dry. Of course, Obama, along with the Times will blame this all on Bush—the time honored excuse for poor leadership.

(posted in the Times commentary under moderation)

These numbers aren’t worth a bucket of warm spit.

Mike Honcho on July 2, 2010 at 9:21 AM

Succinct.

You’re unemployed but because you haven’t looked for work in the past 4 weeks you’re not unemployed. Fundamentally flawed logic. If we could convince these unemployed not unemployed people to look for work for at least 1 minute every 4 weeks then Americans would see the “real” unemployment rate.

Sigh.

From His lips to your ears.

Let me be perfectly clear. Make no mistake. I inherited this mess. I am instituting immediately plans for a permanent annual census to maintain our government employment momentum. These workers will soon be documenting the new Dem.. er, citizens who will soon be appearing on the southern border.