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re: Unemployment down to 6.1%, lowest since Sept. 2008

Posted on 7/3/14 at 8:57 am to
Posted by mmcgrath
Indianapolis
Member since Feb 2010
35400 posts
Posted on 7/3/14 at 8:57 am to
quote:

What's the labor participation rate?
If unemployment dropped to 0.01%, why should I care if some people don't participate?
Posted by Bard
Definitely NOT an admin
Member since Oct 2008
51618 posts
Posted on 7/3/14 at 8:59 am to
quote:

What about Benghazi?


If the improvement continues, Ben can get a job too!

;)
Posted by conservativewifeymom
Mid Atlantic
Member since Oct 2012
12026 posts
Posted on 7/3/14 at 8:59 am to
Because those people could very well not be participating because they are collecting checks from entitlement programs that YOU are paying for through the myriad taxes you're paying.
Posted by kingbob
Sorrento, LA
Member since Nov 2010
67092 posts
Posted on 7/3/14 at 9:00 am to
quote:

If unemployment dropped to 0.01%, why should I care if some people don't participate?


Because if the unemployment rate was .01%, but the labor participation rate was only 10%, we would have one hell of a problem because 90% of our people of working age would still be out of work.
Posted by Bard
Definitely NOT an admin
Member since Oct 2008
51618 posts
Posted on 7/3/14 at 9:01 am to
quote:

If unemployment dropped to 0.01%, why should I care if some people don't participate?


If the Participation Rate remains unchanged, where is the drop in Unemployment coming from?

With the way the government plays with numbers, it's a legitimate question.
Posted by conservativewifeymom
Mid Atlantic
Member since Oct 2012
12026 posts
Posted on 7/3/14 at 9:02 am to
Great point!
Posted by Wolfhound45
Hanging with Chicken in Lurkistan
Member since Nov 2009
120000 posts
Posted on 7/3/14 at 9:05 am to
quote:

What about Benghazi?


Not Guilty.

and...

I did it because of the video.

and finally...

Posted by Holden Caulfield
Hanging with J.D.
Member since May 2008
8308 posts
Posted on 7/3/14 at 9:06 am to
quote:

If unemployment dropped to 0.01%, why should I care if some people don't participate?

You would want to know if your aim is to understand the numbers being presented to you.
Posted by the808bass
The Lou
Member since Oct 2012
111524 posts
Posted on 7/3/14 at 9:07 am to
quote:

In June the BLS reports that the number of full-time jobs tumbled by 523K to 118.2 million while part-time jobs soared by 799K to over 28 million!


So employers traded in FT jobs for PT jobs. Yay! Welcome to Europe. Get 3 more jobs.
LINK
Losing 500k FT jobs is not good news. No matter how much some would wish it to be.
Posted by lsu13lsu
Member since Jan 2008
11484 posts
Posted on 7/3/14 at 9:07 am to
quote:

The participation rate still blows but it's getting closer.




It is at a 35 year low. Closer to what? Worst ever?
Posted by Navytiger74
Member since Oct 2009
50458 posts
Posted on 7/3/14 at 9:08 am to
quote:

low labor market participation rate


Do historical labor participation rates account for the growth of women in the workforce? I'm honestly curious. It's pretty common hat around here to compare today's participation rate with the rates of preceding decades (going back to the 1960s).

Is that truly an apt comparison if female participation has more than doubled in that timeframe?
Posted by lsu13lsu
Member since Jan 2008
11484 posts
Posted on 7/3/14 at 9:10 am to
quote:

If unemployment dropped to 0.01%, why should I care if some people don't participate?


Good Lord you are obtuse or ignorant. They get paid by taxpayers to not produce/participate. It hurts the economy.
Posted by wickowick
Head of Island
Member since Dec 2006
45810 posts
Posted on 7/3/14 at 9:14 am to
Posted by a want
I love everybody
Member since Oct 2010
19756 posts
Posted on 7/3/14 at 9:14 am to
quote:

It is at a 35 year low. Closer to what? Worst ever?

"It" refers to unemployment rate, not participation rate.
Posted by Bard
Definitely NOT an admin
Member since Oct 2008
51618 posts
Posted on 7/3/14 at 9:30 am to
quote:

Do historical labor participation rates account for the growth of women in the workforce? I'm honestly curious. It's pretty common hat around here to compare today's participation rate with the rates of preceding decades (going back to the 1960s).




It deals with raw numbers, not categories of workers. Numbers based on race, gender, age are computed as you get deeper into it.

quote:

Is that truly an apt comparison if female participation has more than doubled in that timeframe?


There are reports that deal with that, but what you are looking for is a completely different conversation.
Posted by Truckasaurus
Alabama
Member since May 2014
336 posts
Posted on 7/3/14 at 9:34 am to
quote:

I need to see the same report as it is calculated under 2008 methods


The method hasn't changed since the 90s. Where do you people come up with this shite?
This post was edited on 7/3/14 at 9:34 am
Posted by jcole4lsu
The Kwisatz Haderach
Member since Nov 2007
30922 posts
Posted on 7/3/14 at 9:35 am to
quote:

If unemployment dropped to 0.01%, why should I care if some people don't participate?


have you ever looked as to how the arrive at this cockamamie UE number? none of these indicators are worth a grain of salt by themselves, they must be taken in as a whole.
but please, dont let facts and shite get in the way of your blind sunshine pumping.
Posted by Navytiger74
Member since Oct 2009
50458 posts
Posted on 7/3/14 at 9:35 am to
quote:

It deals with raw numbers, not categories of workers. Numbers based on race, gender, age are computed as you get deeper into it.


So the rate was higher in 1970, even though female participation was apprimately 25% lower(accounting for 10s of millions of workers)? Were 100% of men employed or something?

quote:

There are reports that deal with that, but what you are looking for is a completely different conversation.


If you have a reference, I'm game. I honestly looked but couldn't find anything.



This post was edited on 7/3/14 at 9:52 am
Posted by a want
I love everybody
Member since Oct 2010
19756 posts
Posted on 7/3/14 at 9:35 am to
quote:

The method hasn't changed since the 90s. Where do you people come up with this shite?

When you rely on WND and Breitbart for your news, you believe the Obama adminstration changed the calculations. It's another one of his scandals.
This post was edited on 7/3/14 at 9:38 am
Posted by CamdenTiger
Member since Aug 2009
62439 posts
Posted on 7/3/14 at 9:53 am to
quote:

you believe the Obama adminstration changed the calculations. It's another one of his scandals.




I don't trust some of these numbers, and the way they are counting them, for sure. Trust in this administration isn't something I have alot of, though. If 275,000 of the jobs this last month were part time, that can't be good. We just graduated alot of college kids, and its going to be tough on them if they are all part time....
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