Unemployment fell to 8.5% in December. However, labor force participation is at a low for the last three years, 64.0%, also per the BLS. Where are they pulling the unemployment number from?

It's a survey.

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You don't need a weatherman to know which way the wind blows - Robert A. Zimmerman

You might want to dig deeper and do a little math. Their unemployment numbers vs the available work force have never really added up.

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2001 SLK 320 six speed manual
2014 Porsche Cayenne six speed manual

Annoy a Liberal, Read the Constitution

it's dependant on how many people show legal employment, and how many file for unemployment benefits. It doesn't take into account those whose bennies ran out, and just stopped looking for work, or those working under the table, contractors, or those who have created a black market economy for themselves and a small group...

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All it takes for evil to prevail is for good men to stand by and do nothing.

Too many people tip toe through life, never attempting or doing anything great, hoping to make it safely to death... Bob Proctor

'95 S320 LWB
'87 300SDL
'04 E500 wagon 4matic

Yup, the Dept of Labor conducts 60,000 interviews and Gallup does 30,000

Same system in Canada. If anything it is a much less accurate system than reality. The percentage of citizens defined as unemployed are those still drawing unemployment benifits. I only hope that 8.5 percent is honest of the total number of people actually employed is what the statistic is derived from at least.

It is a given even if you are activly looking for employment. If you are not drawing unemployment benifits you are still not counted as unemployed.

The real unemployment number in society including the underemployed of course is going to be much higher. Doubling the figure at least is closer to reality and this does not include people on welfare etc.

That is why the number of new hires a month is more important to me than any posted unemployment number. It tends to indicate where the unemployment statistic is going. More people finding jobs than the number running out of unemployment benifits will lower the number.

It is one reason governments extend the benifit period. It makes the unemployed rate less again than the reality for political purposes. Again perhaps a good political tool.

yep.

The unemployment rate only tells a portion of the story in a bad economy where unemployment benefits run out before an individual can obtain another job.

Nobody "stops looking for work"..........unless they are independently wealthy. We call those people "retired".

Employment Statistics make the powers that be look bad. What is the point of making yourself look bad when you own everything you need to make yourself look good including the public relations firms and the propaganda machine?

Over the years it was easier to change the way the statistics were computed than to admit that killing the work world was profitable to the big money interests.

Google " unemployment u6 " for some insight.

How unemployment is assessed.

How the Government Measures Unemployment

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You don't need a weatherman to know which way the wind blows - Robert A. Zimmerman

Some Do-- they reach a point where it's no use to keep bangin their head against a wall in a very bad labor market, its just not a go deal to sell their labor to the skinflints out there that consider any applicant as bent over a barrel.
And they figure out a way to employ themselves,
( in an up market I never had to look. people heard -and asked me if they could purchase my skills/time).




Can I intrest you in a 30's pickup project--or some vintage tin?
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