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10.4%
Topic Started: Dec 3 2009, 05:12 PM (193 Views)
George K
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Finally
http://twitter.com/JimPethokoukis/status/6310945995
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1hp
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Fulla-Carp

With almost 500,000 joining the ranks every month, that's a safe prediction. The White House has already covered its rear end by stating that job losses will continue into 2010. I'm no expert on these things, but I should imagine that the job losses ramp down, and don't just suddenly stop - wonder what that ramp looks like. I also wonder if there are any real numbers for people on unemployment gaining jobs - would be interesting to see graphs of both side by side. Maybe add a third - people dropping off the unemployment rolls, but didn't find any work, or are only working part time.

There are 10 kinds of people in this world, those that understand binary and................
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Luke's Dad
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Emperor Pengin
By which definition of unemployment?
The problem with having an open mind is that people keep trying to put things in it.
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jon-nyc
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Cheers
Its a huge number. I understand the number among college grads is quite a bit lower, FWIW.
In my defense, I was left unsupervised.
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John Galt
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Unemployment number announced today:

http://online.wsj.com/article/SB125993225142676615.html

Edited by John Galt, Dec 4 2009, 06:36 AM.
Let us begin anew, remembering on both sides that civility is not a sign of weakness.
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Luke's Dad
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Emperor Pengin
Baloney, it still fell by 11,000. It didn't gain but it lost. It shows that more people have fallen off the grid.
The problem with having an open mind is that people keep trying to put things in it.
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1hp
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Fulla-Carp

Something strange with the reporting - is there multiple unemployment calculations going on? From the Associated Press yesterday:

New Unemployment Claims Fall Unexpectedly for Fifth Straight Week

.........................The four-week average of claims, which smooths out fluctuations, dropped for the 13th straight week to 481,250, about 180,000 below the peak for this recession reached this spring.

...............................Many economists say that claims need to fall to about 425,000 for at least a month to signal that employers are adding jobs. The nation's economy has lost jobs for 22 straight months.





One other little secret that I only just discovered:

Meanwhile, the number of people claiming unemployment benefits for more than a week rose by 28,000 to 5.5 million, the department said. Analysts had expected a decline.

That total doesn't include millions of unemployed Americans that are receiving benefits under extended programs paid for by the federal government.


In other words, it only covers the initial unemployment from the state (in California, about 6 months worth of payments). In other words, I am not counted in the unemployed numbers anymore, and the same goes for anyone laid off before around May this year. The 5.5 million unemployed number reported has to be way low.

There are 10 kinds of people in this world, those that understand binary and................
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