Tag Archives: Unemployment rate

Hustler in chief, Unemployment rate, Illegal aliens, Economy, Citizen Wells open thread, July 3, 2010

Hustler in chief, Unemployment rate, Illegal aliens, Economy

I suppose you all heard the Hustler in chief speak of the 9.5 % unemployment rate in somewhat glowing terms as improvement. When I heard life long Democrat, civil rights attorney, Bartle Bull refer to Obama as a hustler it resonated with me. I had been refering to Obama for many months as being “street smart.”

Wiretap from Rod Blagojevich trial.
DATE: 11/10/2008
 
TIME:  9:07 A.M.
 
ACTIVITY: Rod Blagojevich home line conference call
 
SESSION:  451

BLAGOJEVICH “Now Patti works. She’s very good at what she does. She’s as qualified as Michelle Obama, if not more qualified. Michelle Obama is getting sixty five grand a year for you know, what was it, Tree House Foods, Patti?”
 
 
QUINLAN “Tree House Foods is what she was on.”
 
P. BLAGOJEVICH “Tree House.”
 
BLAGOJEVICH “Yeah and she’s making 0 grand over at the University of Chicago.”
 
 
BLAGOJEVICH “…where her fath-, her husband’s federal months, federal funds are going there? What?”
 
P. BLAGOJEVICH “Yeah, which of course went up as soon as he got elected to Senate and he was able to get federal funding to University of Chicago. Get this, I think the most…”

Unemployment rate, July 2, 2010, US Labor Dept, June unemployment rate 9.5 percent??, Orwellian algorithm, Fuzzy math, Lies, Real unemployment rate

Unemployment rate, July 2, 2010, US Labor Dept, June unemployment rate 9.5 percent??

“The past is whatever the records and the memories agree upon.
And since the party is in full control of all records, and in
equally full control of the minds of it’s members, it follows
that the past is whatever the party chooses to make it. Six
means eighteen, two plus two equals five, war is peace,
freedom is slavery, ignorance is strength.”…George Orwell, “1984”

I am not a rocket scientist.

However, I started out as a math major, I am from NC, I have an excellent built in BS detector and a pretty good decoder ring.
What kind of “fuzzy math” or Orwellian algorithm is the Federal Government using?

The so called unemployment rate on June 30, 2010 was stated as 9.7%.

On June 30, 2010 we learn

Private employment may have decelerated

On July 1, 2010 we learn

Unemployment claims up 13,000

We know that hundreds of thousands of high school and college graduates entered the job market in May and June of 2010.

Today, July 2, 2010,  we are told this

Unemployment rate 9.5% ??

Now read this opening statement from the US Labor Dept. News Release, July 2, 2010.
“THE EMPLOYMENT SITUATION – JUNE 2010

Total nonfarm payroll employment declined by 125,000 in June, and the unemployment rate edged
down to 9.5 percent, the U.S. Bureau of Labor Statistics reported today. The decline in payroll employment
reflected a decrease (-225,000) in the number of temporary employees working on Census 2010.
Private-sector payroll employment edged up by 83,000.”

http://www.bls.gov/news.release/pdf/empsit.pdf

This

Does Not

Compute

Jobless claims rise, Unemployment rate, Real truth about economy, College graduates and summer jobs

Jobless claims rise, Unemployment rate, Real truth about economy

“Winston dialed “back numbers” on the telescreen and called
for the appropriate issues of the Times, which slid out of
the pneumatic tube after only a few minutes’ delay.  The
messages he had received referred to articles or news items
which for one reason or another it was thought necessary to
alter, or, as the official phrase had it, to rectify.  For
example, it appeared from the Times of the seventeenth of
March that Big Brother, in his speech of the previous day,
had predicted that the South Indian front would remain quiet
but that a Eurasian offensive would shortly be launched in
North Africa.  As it happened, the Eurasian Higher Command
had launched its offensive in South India and left North
Africa alone.  It was therefore necessary to rewrite a
paragraph of Big Brother’s speech in such a way as to make
him predict the thing that had actually happened.”…George Orwell, “1984”

I had a conversation with a savvy friend of mine yesterday, who keeps up with news and gets it about the economy. I told him that I had been watching the jobless claims reports and that I was curious about the next report, which came out this morning. I applied some common sense and questioned what the real unemployment numbers are when the new college graduates are factored in. We both agreed that the real unemployed figure was far greater than the 9.7 % figure offered by the federal government.

This morning one of my questions was answered.

“In the week ending June 12, the advance figure for seasonally adjusted initial claims was 472,000, an increase of 12,000 from the previous week’s revised figure of 460,000.”

Read more:

http://citizenwells.com/2010/06/17/jobless-claims-rise-june-17-2010-us-labor-dept-12000-increase-initial-claims-472000/

This probably does not factor in recent college grads but it is, however, a best case scenario from the government. I continue to read the fairy tales about the economy while truth reporters such as Rush Limbaugh warn that much of the business activity is geared to putting income in 2010 and not later years when Obama tax increases will be non business, non economy friendly.

Unemployment rate, February 5 2010, Jobless rate, Weekly claims report, Labor Department, January 2010, November gains?, Obama administration job killing policies, 1984, Orwellian spin, Stocks drop on rise in weekly jobless claims

“The past is whatever the records and the memories agree upon.
And since the party is in full control of all records, and in
equally full control of the minds of it’s members, it follows
that the past is whatever the party chooses to make it. Six
means eighteen, two plus two equals five, war is peace,
freedom is slavery, ignorance is strength.”… George Orwell

The Obama camp is often spoke of in Orwellian terms. 1984 manifested. Jobless claims for the past week rise, the stock market reacts unfavorably and suddenly the unemployment rate is 9.7 percent? News reports in George Orwell’s “1984” were constantly altered as a matter of practice to reflect the image and goals of Big Brother. Read the following reports and derive your own conclusions.
From Fox News, February 5, 2010.

“Jobless Rate Falls Unexpectedly to 9.7 Percent in January”

“WASHINGTON – The unemployment rate dropped unexpectedly in January to 9.7 percent, while employers shed 20,000 jobs, according to a report that offered hope the economy will add jobs soon.

The unemployment rate dropped from 10 percent because a survey of households found the number of employed Americans rose by 541,000, the Labor Department said Friday. The job losses are calculated from a separate survey of employers.

The department also revised its past employment estimates to show that job losses from the Great Recession have been much worse than previously stated. The economy has shed 8.4 million jobs since the downturn began in December 2007, up from a previous figure of 7.2 million.

That’s the most jobs lost in any recession, as a percent of total employment, since World War II.

The figure for November was revised higher, however, to show a gain of 64,000 jobs. That was initially reported as a gain of 4,000.”

“The federal government has begun hiring workers to perform the 2010 census, which added 9,000 jobs. That process could add as many as 1.2 million jobs this year, though they will all be temporary.

But job cuts at the state and local levels canceled out those gains, as government employment fell by 8,000.

The construction industry lost more jobs than other sector, dropping 75,000. Most of that loss came from the commercial building sector, the department said.

Still, jobs remain scarce even as the economy is recovering: Gross domestic product, the broadest measure of the nation’s output, has risen for two straight quarters. GDP rose by 5.7 percent in the October-December quarter, the fastest pace in six years.

Many economists say businesses are reluctant to add workers because it’s not clear whether the recovery will continue once government stimulus measures, such as tax credits for home buyers, fade this spring.

The debate over health care reform and the scheduled expiration of some Bush administration tax cuts at the end of this year may also hold back some employers, many economists said.”

Read more:

http://www.foxnews.com/politics/2010/02/05/job-losses-worse/

From Canadian Business, February 4, 2010

“Stocks drop as unexpected rise in weekly jobless claims brings concern about economic recovery”

“Stocks are dropping as a rise in weekly jobless claims dampens hopes about a key employment report Friday.

A recovery in employment is seen as the biggest obstacle to a rebound in the economy and the unexpected increase in weekly unemployment claims Thursday is providing a reminder that a recovery will be difficult.

The Labor Department says unemployment claims rose 8,000 to a seasonally adjusted 480,000 last week. Economists had predicted claims would drop to 460,000.”

“Stock futures weakened Thursday as a rise in weekly jobless claims damped hopes about a key employment report Friday.

A recovery in employment is seen as the biggest obstacle to a rebound in the economy and the unexpected increase in weekly unemployment claims provided another reminder that a recovery will be difficult. The report reduced expectations that the government’s January jobs report on Friday will show that employers added workers in the first month of the year.”

Read more:

http://www.canadianbusiness.com/markets/market_news/article.jsp?content=D9DLDOH00

From the US Department of Labor, February 4, 2010.

“UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT”

“In the week ending Jan. 30, the advance figure for seasonally adjusted initial claims was 480,000, an increase of 8,000 from the previous week’s revised figure of 472,000. The 4-week moving average was 468,750, an increase of 11,750 from the previous week’s revised average of 457,000.”

Read more:

http://www.dol.gov/opa/media/press/eta/ui/current.htm
The DJIA is at 9,961  down 41 as I post this.