For me – I ain’t buying the 8.3% unemployment rate released last Friday.

Reblogger Wallace S. Gibson, CPM
Real Estate Broker/Owner with Gibson Management Group, Ltd.

I agree * the FoxSnooze folks on the Kirby couch are some of the FEW who are actually delving into how these %s are calculated.

When you are OUT or UNDERemployed, your UNEMPLOYMENT is 100%

Original content by Ed Newman

us unemployment rate incorrect

 

For me – I ain’t  buying the 8.3% unemployment rate released last Friday.

 

There are 140M working people in the US and a 10% UER would mean 14M out of work

 

Last Friday’s monthly UER was 8.3% or 11.6M out of work. There are 4M that have left the workforce, given up, no longer looking for work and are not counted any longer in the unemployment (UE) figures. If those 4M were to jump back into the “actively looking” for work, if you added those folks back in – divided by the number of people in the work force it would show about a 12% UER.

 

Are they playing around with the numbers? It’s the “Bureau of Labour Statistics”, it’s supposed to be non-partisan, but it is the Dept of Labour --- Hilda Solis - - who works directly for Obama….Not Saying Anything. There is room for error, but not that much

 

How about the $20/hour people who are at least working somewhere for $12/hour until they get what they want – the “under-employed”. Add them into the equation and we may have an under-employed rate of closer to 20%  

 

 

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Show All Comments
Rainmaker
1,006,156
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Wallace.  Unemployment numbers are so manipulated just like COLA numbers are.

February 06, 2012 07:42 AM #1
Rainmaker
222,279
Doug Dawes
Coldwell Banker Residential Brokerage - Georgetown, MA
Your Personal Realtor

Those who are small biz ownersm such as RE agents that go out of business do not collet unemployment and THUS are not counted.

February 06, 2012 07:44 AM #2
Rainer
86,743
Jamie R. Bell
Coldwell Banker Residential Brokerage - Glastonbury, CT
GRI Your Central CT Realtor

Wallace great points! And I completely agree. They also don't count self-employed in the UER or your category under employed! It's tough and could getter tougher. If this continues our market will just drop more because of the foreclosures, etc. I hope someone can make a change soon that counts soon!

February 06, 2012 07:49 AM #3
Rainer
159,429
Edward Gilmartin
Boston Homes - Boston, MA

I agree 100%...headlines on Drudge read Unemployment down to 8.3%  243000 jobs created...1.4 million workers disappear.

February 06, 2012 07:54 AM #4
Rainmaker
283,115
Charlie Dresen
Steamboat Sotheby's International Realty - Steamboat Springs, CO
Steamboat Springs, CO e-Pro

It's an election year so get ready for numbers to be spun in many different ways to tell the story, prove the point or make somwone look bad as needed. I find the 8.3% unemployment rate to be a little unbelieveable too.

February 06, 2012 07:55 AM #5
Ambassador
337,847
Emily Medvec
Keller Williams Santa Fe - Santa Fe, NM
Realtor, Santa Fe NM |CNE CRS RSPS | 505-660-4541

Wallace, the numbers are beyond political. The BLS only counts unemployment claims. Imagine what the numbers would be if there was something as simple as an online survey. It is unfortunate the 2010 census did not even approach asking those questions. Everything tends to be different from inside the beltway.

February 06, 2012 07:55 AM #6
Rainmaker
550,664
Than Maynard
Coldwell Banker Heart of Oklahoma - Purcell, OK
Broker - Licensed to List & Sell - 405-990-8862

I said the government will do everything they can to spin in Obama's favor. We will here nothing but good news until the election, no matter how they have to spin it.

February 06, 2012 11:11 AM #7
Ambassador
706,875
Mike Frazier
Carousel Realty of Dyer County - Dyersburg, TN
Dyersburg Tn Real Estate

All we will get here on out is good news until after the election. I don't believe those numbers for one second!

February 06, 2012 11:31 AM #8
Rainmaker
353,982
Dale Terry
Yadkinville, NC

Unemployment is actually up, more businesses closing(Wall St. dumping rental space), growth figures are at or close to recessionary, savings going down again,interest rates at zero percent for two more years.  What part of the economy sucks does Obama not get?

February 06, 2012 01:04 PM #9
Rainmaker
384,218
Karl Hess
Keller Williams Ocean County - Toms River, NJ
on The Jersey Shore

Is that a picture of Larry, Moe and Curly on your blog?...now that I look closer it's the Fox and Friends folks...and they've made up some much bs it's difficult for me to take anything they say seriously. (I wonder what they'd be saying if it was a Republican in the White House)

February 06, 2012 06:41 PM #10
Rainer
159,429
Edward Gilmartin
Boston Homes - Boston, MA

Fox beat up on Bush quite a bit when he was president. There is no question that the major Networks are firmly in the Obama camp which is not the way news should be reported.

February 06, 2012 06:47 PM #11
Rainmaker
321,686
Yolanda Hoversten
Prudential One Realty Centre - O'Fallon, IL
Broker - O Fallon, IL Real Estate

Hi, Wallace - could this be the result of the New Math introduced way back when?

I don't happen to watch Fox, whether the news or the opinion programs regularly. But when I tune in on occasion, they seem to have very good attitude and vibes, and happy. So unlike other news network who are belligerent and belittle their guests who aren't stooges for Obama.

March 18, 2012 05:21 PM #12
Show All Comments
Rainmaker
1,078,277

Wallace S. Gibson, CPM

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