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Forum: Internet Links Topic: This guy says unemployment is actually 16.3% started by: GORDON Posted by GORDON on Aug. 11 2009,11:52
< http://www.foxnews.com/opinion/2009/08/07/john-lott-unemployment/ >QUOTE If we include the normally counted number of unemployed as well as those who have recently given up looking for work and those who have taken a part-time low paying job because they can't find full-time work, the implication is that the unemployment rate for July would be at 16.3 percent These discouraged workers will again look for work once the economy starts to improve, but this 6.9 percentage point gap between publicly discussed unemployment rate and these discouraged workers is unusually large.
Posted by TheCatt on Aug. 11 2009,12:10
There are 3 unemployment numbers. The problem is that only 1 is tracked.The highest # is: people who want work, but don't have it; Or who want better work. The 2nd highest # includes underemployment: People who are actively seeking better/permanent employment but have jobs. The lowest # is the one that's reported: People who do not have work, but are actively seeking it. Generally, the gap between that highest # and the lowest is around 5%, and increases during economic downturns. So, at our economy's peak, it would be reasonable to estimate that number at around 9-10%, making 16% not sounds as relatively bad. During the Great Depression, when unemployment hit 25%, they used that highest #, not the # we use today. By today's standards, it was probably around 17-18% Posted by GORDON on Aug. 11 2009,12:12
(TheCatt @ Aug. 11 2009,15:10) QUOTE During the Great Depression, when unemployment hit 25%, they used that highest #, not the # we use today. By today's standards, it was probably around 17-18% I guess the media showing massive tent cities and soup lines was good for smearing Hoover, but would be bad for smearing Obama? Posted by Troy on Aug. 11 2009,12:14
Yeah, in our classes we were always warned that in the most severe recession/depression, you can pretty much throw unemployment numbers out the window. Thanks to the "workers giving up hope and living on unemployment" and "workers taking crappy jobs they are too overqualified for"Doom and gloom... Posted by TheCatt on Aug. 11 2009,12:17
On the good side, unemployment in my house recently went down from 50% to 0%, so I guess my personal recession is over.
Posted by GORDON on Aug. 11 2009,12:19
(TheCatt @ Aug. 11 2009,15:17) QUOTE On the good side, unemployment in my house recently went down from 50% to 0%, so I guess my personal recession is over. Yeah but remove those socialist child labor laws and your personal unemployment rate shoots back up. Posted by Troy on Aug. 11 2009,13:17
(TheCatt @ Aug. 11 2009,12:17) QUOTE On the good side, unemployment in my house recently went down from 50% to 0%, so I guess my personal recession is over. Actually, depending on how you come to the number, it could also mean you just said fuck it and have decided to sit on the couch all summer. Either way, hurray! Posted by TheCatt on Aug. 11 2009,14:29
I'm still trying to get my last month of unemployment benefits from the state.Despite nothing anywhere stating that being self-employed part-time makes someone ineligible, they're reviewing my eligibility. I called the department handling that, and it goes straight to voicemail. You get to voicemail, and it tells you that voicemail is full. Yay. Posted by Troy on Aug. 11 2009,14:38
I missed a week on mine, and didn't realize it until it was already two weeks past, and they don't let you receive sweet government money after two weeks.Bummer, that's like a new TV. Posted by TheCatt on Aug. 12 2009,08:20
So I sent emails to the two heads of the NC ESC yesterday afternoon after the phone issue.This morning I got a called back one of the phone center employees who asked a few questions (basically making sure I wasn't self-employed full-time), and said the matter's resolved, and should be cleared in the system today. So that's like $1600 - woot! |