Unemployment rate is down -unbelievable!!

Just thinking about the calculation of the unemployment rate. Obviously people need food, water, housing, etc... If a person was laidoff and have not found a job for 6 months than obviously that person has some other source of income. It could be under the table, it could be just living off of a significant other.

Why not look strictly at welfare checks and unemployment insurance checks to determine the true unemployment rate. Otherwise the person obviously has some other source of income.

There are jobs available. Even minimum wage is better than nothing. So I also wonder if the government could also provide the annualized salary of all new jobs created in the monthly labor reports.

Say if 200,000 new jobs were created in July... the govt should also give the value of all those jobs... say it's 8 billion or $30,000 average for all the new jobs created.

Maybe even have a net figure... the value new jobs subtract value of lost jobs. I would not be suprised if it would be a negative.

With all the recent talk about unemployment in this country... this was just a few things on my mind.
 
Quote from killATwill:

housing is accounting for a huge number of jobs. 30-40% of new jobs are "housing" related. a house of cards, if you ask me.
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Where did you get this info or is it just speculation?

Quote from Ripley:

Yeah, 90% of those new jobs are held by mostly illegal aliens. Thus, we should really need to think about if the employment rate grew for Mexico or the U.S.
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Your comment doesn't make sense, if unemployment fell, than more americans found jobs, or stopped looking.

Quote from dddooo:

Labor force participation today - 66%
Labor force participation in January 2001 - 67.2%

That's about 2 million people who left the workforce for whatever reasons in the last 4.5 years. That's not a sign of healthy economy.
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Baby boomers starting to retire now.
 
Quote from The Kin:

..............
Say if 200,000 new jobs were created in July... the govt should also give the value of all those jobs... say it's 8 billion or $30,000 average for all the new jobs created.

Maybe even have a net figure... the value new jobs subtract value of lost jobs. I would not be suprised if it would be a negative.

With all the recent talk about unemployment in this country... this was just a few things on my mind.
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isn't there an hourly wage statistic???? i trust that about as much as the CPI figures though.
 
If a person is 22 to 32 they can easily go back home or maybe they never left there parents home. So how much do you need to live at moms? I think a lot of people just gave up who have college educations. They might work 20 hours a week part time for spending money. I bet there are a lot of people like that. Then you have older people in there 40’s or 50’s living off there savings and maybe have a part time job. I bet a lot of people have second mortgages and live off that money too. Remember there home is worth a lot more if they bought it 10 years ago. You have 2,000,000 less people in the work place then 2 years ago where did they go? The under the table business excuse is getting old. Where are the jobs they are hiring for? You never hear about companies hiring but you always hear about lay offs. Also a lot of the new jobs are really not new jobs at all. Good amounts are temps filling in for people serving in the National Guard.
 
Quote from brokerboy:

If a person is 22 to 32 they can easily go back home or maybe they never left there parents home. So how much do you need to live at moms? I think a lot of people just gave up who have college educations. They might work 20 hours a week part time for spending money. I bet there are a lot of people like that. Then you have older people in there 40’s or 50’s living off there savings and maybe have a part time job. I bet a lot of people have second mortgages and live off that money too. Remember there home is worth a lot more if they bought it 10 years ago. You have 2,000,000 less people in the work place then 2 years ago where did they go? The under the table business excuse is getting old. Where are the jobs they are hiring for? You never hear about companies hiring but you always hear about lay offs. Also a lot of the new jobs are really not new jobs at all. Good amounts are temps filling in for people serving in the National Guard.
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I could care less. If they are not on welfare or unemployment insurance then they are simply choosing not to work because they have some other source of income. The unemployment number should be welfare + unemployment insurance.
 
Quote from wizardx:

Guys, the unemployment rate stays low because you are no longer counted after 6 months. To make the unemployment rate look better without actually increasing employment, all you have to do is let time pass and the unemployed will no longer be part of the statistic
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when you have clowns willing to continue to state that the markets are the best that they have ever been and then decry a coming real estate bubble or cry over interest only mortgages;

to have others suggest we're having some of the best financial times for corporations but these very same self centered companies offshor jobs in the hundreds of thousands and unemploy US Citizens in the thousands just to make their earnings numbers;

to have other self appointed political spinsters acting like they're news reporters on CNBC at the 5pm EST hour and then wonder why people can't stand him or his bombastic messages;

to have other companies consider that they can continue to expect that the US consumers can spend this economy into prosperity and then continue to disavow them as employees or pension retirees or otherwise and expect things to continue rosy;

is as dilusional as believing that things are improving and these huge deficits are sustainable requires bigger discussions than just these boards can produce,

perhaps, what the other guys were syaing was true and what bill of goods that we got from these guys, really was a bill of goods....

tough times, huh?
 
Quote from The Kin:

I could care less. If they are not on welfare or unemployment insurance then they are simply choosing not to work because they have some other source of income. The unemployment number should be welfare + unemployment insurance.
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So if you can’t find a job after 6 months and don’t go on welfare your rich and don’t need to work. Do I understand you right? Does Bush stick his hand up your ass to make you move your mouth? There are not many people who made 90k a year who are going to work for 20k a year. There are not many jobs that pay even 50k a year anymore. They live on savings and second mortgages with the hope of finding 50k a year.
 
Zook,
I amend the statement so to "private sector jobs". source: merril lynch...

"Over 40% of all private-sector jobs created since
2001 have been in housing-related sectors, such as construction, real estate and mortgage brokers."

what's worse...
<b>
"Over the past four years, consumer spending and residential construction collectively has accounted for 90% of the total growth in GDP."</b>

basically, we are fooked.

i attached the source for your viewing pleasure
 

Attachments

Quote from brokerboy:

They live on savings and second mortgages with the hope of finding 50k a year.
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That's a very good point.
Also, those 20k jobs are in fast food and Walmart. Contrary to what TheKin might think, no fast food restaurant will hire a 30 year college grad that used to work for 60k a year. It's for the similiar reasons why restaurant owners in NYC make sure that their managers are not too bright.
TheKin, you might think that there are jobs everywhere but check out Buffalo, NY. My mother has been looking for job there for months and she just wants smth to occupy her time so there is no pride issue. She has a Master's and she can't get a job in a supermarket because there are literally no jobs. You may think this is an isolated case but this is what is truly going on all over the country.
 
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