Posted on 08/01/2010 8:31:55 AM PDT by blam
Spoiler Alert: U.S. Unemployment Is Now Rising, Not Falling
Vincent Fernando, CFA
Aug. 1, 2010, 6:44 AM
I see $2,000. Or maybe $200
Don't look surprised when U.S. unemployment is shown to have increased, later this week:
Bloomberg:
The jobless rate rose to 9.6 percent last month from 9.5 percent in June, according to the median estimate of 57 economists surveyed by Bloomberg News ahead of a Labor Department report Aug. 6. A drop in federal census workers as the population count wound down depressed payrolls by 60,000, the data may also show.
Census-related hiring, and now firing, will be a key driver of the upcoming report:
The Census Bureau said it let go about 144,000 of the people conducting the decennial population count from mid-June to mid-July. It still had about 200,000 temporary workers on staff as of July 17, indicating additional cuts to come that will keep distorting the payroll figures for months.
...
For that reason, economists say private employment, which excludes government jobs, will be a better gauge of the state of the labor market for much of 2010. Employment at companies rose by 90,000 after an 83,000 gain in June, according to the median forecast.
Thus the private employment figure will be the more relevant data point to watch. Hopefully private employment growth doesn't miss expectations.
[snip]
(Excerpt) Read more at businessinsider.com ...
“Figures don’t lie, but Liars figure”
And from a Marxist administration, no amount of data can be trusted. All Marxists (& Commies, Fascists, Dictators) Lie. They are the origin of the term “The Big Lie”.
Unexpected!
I’m shocked!
I wish Obama was filing for unemployment
CENSUS WORKERS DID NOT DISTORT THE UNEMPLOYMENT NUMBERS BECAUSE THE LEFT USED THESE EXACT NUMBERS TO KEEP THEIR “JOBS GROWTH” FIGURES LOOKING BETTER THAN THE 20% UNEMPLOYMENT THAT ACTUALLY EXISTS.
LLS
hehehe I just filed for my UI. I helped up the numbers. The 1st time I’ve laughed since my lay-off in June.
I joined those ranks last month. June 2010,
Let me know if you would like to be on or off the ping list
November 2nd can’t get here soon enough. Drain the toilet bowl that is this Congress.
>>>>hehehe I just filed for my UI. I helped up the numbers. The 1st time I’ve laughed since my lay-off in June
That will be me in about 7 weeks... last day of work is Aug 7 - get a 6 wk severance pkg... then, UI. Oh joy.
The question becomes how much longer will people believe a story being held together with chewing-gum and bailing-wire.
Nowadays, the Democrats don’t talk about the unemployment rate. Apparently it’s irrelevant because a good Democrat is presiding over a high unemployment rate.
Democrats who had meltdowns over a 5.5% unemployment rate during the Bush years are silent about the unemployment rate today.
Instead, the liberals and MSM talk about “jobs created”, “jobs saved”, or “Jobs related to the stimulus”.
The liberal way is the ignore inconvenient truths such as a high unemployment rate.
bummer. My husband had to file last week. Its rough. Hang in there.
Exact same reason I delayed filing for my UI. At leat you got warning of the lay-off. I and 15 others just got a call on a Friday to report enmass to HR and were told Adios.
So, it’s perfectly acceptable to include census workers in the unemployment numbers when they’re being hired, but when they start to be let go, it’s apparently not “fair” to count them anymore.
“It’s another Unexpected Sunday.....”
So, it’s perfectly acceptable to include census workers in the unemployment numbers when they’re being hired, but when they start to be let go, it’s apparently not “fair” to count them anymore.
yes it is ..and Democrats lie about it...BIG SPENDING DOES NOT WORK..
From my volunteer job interviewing low income folks, it appears unemployment payments are becoming the new welfare.
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