Friday, July 2, 2010

Lies, Damn Lies, And Unemployment Statistics.....


The US lost 125,000 jobs in June.

Lots of Temp jobs ended , but the unemployment rate went down to 9.5%

Why is that?

Because so many more people just gave up. See more here


So they are not counted.

This is how it works.... Mr. John Q. Worker has a job.
He is listed as "employed" by the Department of Labor.
He is laid off.
He starts collecting unemployment.
He is listed as "unemployed" by the Department of Labor.
While he is unemployed, John Q. Workerlooks for a job.
Time goes on. Mr.Worker can't find a job.
He decides that there are no jobs available yet, so he stops looking.
Mr.Worker is no longer "Unemployed". Wooooohooooo ! ! !
He has "dropped out of the workforce."
The Department of Labor does not have to count them anymore.


There are Lies, Damn Lies, and Unemployment statistics.


If it was on a book list, the unemployment numbers would be listed under fiction