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On today’s edition of Coffee and Markets, Brad Jackson is joined by Francis Cianfrocca to discuss the differing unemployment statistics, and the consequences of long term unemployment benefits.
We’re brought to you as always by BigGovernment and Stephen Clouse and Associates. If you’d like to email us, you can do so at coffee[at]newledger.com. We hope you enjoy the show.
Related Links:
Gallup Finds U.S. Unemployment Rate at 10.0% in March
Coffee & Markets: Friday’s discussion of unemployment numbers
Jobs and Wages
Neil Stevens
Moe Lane
Caleb Howe
Erick Erickson
Dan McLaughlin
Dan Spencer
On Unemployment
Death_of_the_Donkey (Diary) Monday, April 4th at 12:05PM EDT (link)A big factor here may be the boomers retiring. Since mid 2008, 2 million+ “boomers” dropped out of the labor force. Also note, that if the BLS survey(s) was unreliable or untrusted, then Wall Street wouldn’t care about the numbers (but they do greatly).
Obama Regime is playing games with the numbers.
cja99 Monday, April 4th at 12:09PM EDT (link)The Obama Regime is not counting the thousands of people who took part time jobs to survive or people who have stopped looking for a job.
The employment numbers are phony.
No
Beaglescout (Diary) Monday, April 4th at 12:45PM EDT (link)That’s going to be a short broadcast.
Well, unless you try to find a statistical source that is directly comparable to historical measurements of unemployment. Then it could get pretty darn long.
“A nation which can prefer disgrace to danger is prepared for a master, and deserves one.”
Not True
Death_of_the_Donkey (Diary) Monday, April 4th at 1:23PM EDT (link)The CPS (Current Population Survey) has been measuring unemployment in virtually the same manner since the late 40′s. Also, our measure of unemployment (U-3) is comparable to EU countries measurements. The major changes to the survey have been in the other subsets of unemployment and not so much to the U-3 number (which used to be known as U-5, but with the same formula) that is widely reported each month.
Weren't the late 40s after the Great Depression?
Beaglescout (Diary) Monday, April 4th at 2:32PM EDT (link)So comparing this time period to the Great Depression, which is exactly what it most resembles, is difficult because the unemployment measurements were rejiggered precisely to conceal what was obvious during FDR’s Great Depression. Now we are back at 20% unemployment or higher, while consumer price increases have also been recalculated to hide the incline. High unemployment and high price increases. Sounds like a Depression to me. But not by the numbers that are designed to conceal.
“A nation which can prefer disgrace to danger is prepared for a master, and deserves one.”
No
Death_of_the_Donkey (Diary) Monday, April 4th at 2:48PM EDT (link)Even the highest, most inclusive measure of unemployment (which counts people employed part-time as unemployed and counts all discouraged workers) is only at like 15.x%. It wasn’t that unemployment was rejiggered after the depression it was that we didn’t have an accurate way to measure unemployment until after the depression (in other words, the depression era stats have a far higher margin of error than today’s).
Phony Baloney
frankieb (Diary) Monday, April 4th at 12:48PM EDT (link)We know several people who’ve given up on finding a job. They’re too young for SS and the best they can find is part-time work with no benefits. I can’t believe ANYONE would vote to re-elect this BOzo. But they’re going for $1 Billion in campaign funds, guess they’ll be able to buy some votes.
Books … the most exotic, least expensive vacation: www.DelphiBooks.us
www.DaughterOfTheGreatDepression.blogspot.com
Claire McCaskill goes in so many directions, it’s amazing she hasn’t drawn and quartered herself. www.TruthAboutClaire.com
Facts are your friend
Death_of_the_Donkey (Diary) Monday, April 4th at 1:28PM EDT (link)Thanks to the exhaustive nature of the Household Survey, we know exactly who is out of work”
Without high school diploma – 13.7%
Just high school – 9.5%
Some college – 7.4%
College degree – 4.4%
Also:
16-19 years old – 24.5%
20-24 – 15.0%
25-34 – 9.1%
35-44 – 7.2%
45-54 – 7.1%
55+ – 6.5%
So in fact, it is primarily the uneducated and young (with a huge overlap here obviously) that are unemployed right now.
short answer, no
kyle8 (Diary) Monday, April 4th at 1:12PM EDT (link)It would not be a problem using an imperfect number as a proxy for unemployment except that the way the government has scored it has changed over time.
So it is difficult to measure it against different time periods.
“Nothing works like freedom, Nothing succeeds like liberty”
Kyle
How does 44 million on food stamps square with reported unemployment figures? nt
Common_Cents (Diary) Monday, April 4th at 5:14PM EDT (link)“Fathom the hypocrisy of a Government
that requires every citizen to prove
they are insured…. but not everyone
must prove they are a citizen.” -Ben Stein
“In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule.”[especially in DC] – Friedrich Nietzsche