Why 6.7 percent unemployment isn't good news: We Keep Ignoring Those Who Have Stopped Looking.

CSM ^ | 01/10/2014 | By Christopher S. Rugaber

[SeekAndFind]

The US unemployment rate dropped to the lowest level since 2008, partly because many unemployed have stopped looking for work. Only 74,000 new US jobs were created in December.

Yes, a scant 74,000 jobs in December, the fewest in three years. The disappointing figure ends 2013 on a weak note and raises questions about whether the job market can sustain its recent gains.

The Labor Department said Friday that the unemployment rate fell from 7 percent in November to 6.7 percent, the lowest level since October 2008. But the drop occurred mostly because many discouraged Americans stopped looking for jobs. Once people without jobs stop looking for one, the government no longer counts them as unemployed.

It's unclear whether the sharp hiring slowdown might lead the Federal Reserve to rethink its plan to slow stimulus efforts. The Fed decided last month to pare its monthly bond purchases, which are designed to lower interest rates.

[sten]

I’ve looked for the yearly numbers on total population, working age population, and the number of people employed but have had a tough ie finding them. the labor dept’s numbers are fishy and I’d like to use the IRS for the number of people working/submitting tax returns

know where I can get such data for the last 20+ years?

[BitWielder1]

I can't forget how 5% was REALLY BAD under Bush.

[SeekAndFind]

RE: I can’t forget how 5% was REALLY BAD under Bush.

And even then, did we ignore those who have stopped looking and dropped out of the workforce?

[SkyDancer]

And when it was 4.5% during Bush the media made it out to be catastrophic.

[Black Agnes]

It’s a total lie. That’s what it is.

It’s to allow them to ram amnesty and massively increased H1B visas down our throats. They couldn’t do that if the numbers were truthful.

[machogirl]

They ignore those that are long term, didn’t qualify for unemployment, those underemployed. Heck, the MSM and Govt. has been ignoring inflation. Bring back the Misery Index while this Occupant is still in the White House.

[LibLieSlayer]

130 MILLION AMERICANS are out of work... DC wants to extend unemployment payments out for another 12 months... from the present 99 weeks... they are paying these people not to work so that the unemployment rate goes down. When no one has a job... we will all be on unemployment and we will be at 0% unemployment. Does anyone see something drastically wrong with this thinking?

[Logical me]

Communists lie, millions of uninformed Americans believe.

[same old song]

I have never counted.

I graduated over three years ago with a physics and business degree, and I’ve only been able to work seasonal retail ever since.

It’s depressing to think about, really. I’m 25 now. All I want is to provide for my family and work hard, and I can’t find an opportunity to do so.

[SeekAndFind]

Good Lord, you must be living in some area of the country that is totally depressed.

Have you ever thought to moving to where the jobs are?

[PGR88]

[silverleaf]

It’s actually funny today to listen to the spin from the MEDia

Obama - reducing unemployment by reducing jobs!

[SeekAndFind]

SOURCE: BUREAU OF LABOR AND STATISTICS

http://www.bls.gov/news.release/empsit.nr0.htm

The worst news comes in the workforce numbers. Those not in the workforce increased by 525,000 in December (91.808 million), after a one-time drop in the figure for November (91.283M from 91.756M in October). That’s a big exodus of people from the workforce, dwarfing the meager number of jobs added in the economy. Part-time work remained essentially constant at 7.8 million, so the exodus points to an ugly, ugly trend.

[silverleaf]

study up on entrepreneuers and how they got started

then get started on your own and work for yourself

start something small, or several somethings

a young couple here started a business called “Doody Calls’ and contract themselves to clean up dog crap from yards, apartments and condos. It’s not rocket science but bet they make more money than you do.

someone like you ought to be running a tutoring service for the public, or for businesses whose workers need to improve their math, business and English skills

[St_Thomas_Aquinas]

Sure, 300k have stopped looking. But 70k new jobs have been created.

And here's the really great news. The unemployment rate has dropped below 6.9%!

[Jeff Chandler]

But the stock market is doing

[The Great RJ]

Any unemployment numbers released by the Obama administration ought to be at least suspect if not regarded as total fabrication. Remember the cooked unemployment numbers released just before the 2012 election.

[same old song]

Well I’ve been to California and El Paso, not exactly known for their job markets. :-) My husband is also Army so it has its own special challenges..

[snowtigger]

Just think; with over a million losing their unemployment, they will become part of the reduction of unemployment percentages. Obama can brag about the great reduction in unemployment under his reign.....and the suckers will cheer.