Unemployment rose to 11.5% in January

[CitadelGrad]

http://www.zerohedge.com/news/implied-u ... -year-high

Thank you, President Obama.

[AZGrizFan]

Unfortunately the sheep are starting to get in line again.

[CitadelGrad]

According to the CBO, the situation is even worse.

The official unemployment rate excludes those individuals
who would like to work but have not searched
for a job in the past four weeks as well as those who are
working part-time but would prefer full-time work; if
those people were counted among the unemployed, the
unemployment rate in January 2012 would have been
about 15 percent. Compounding the problem of high
unemployment, the share of unemployed people looking
for work for more than six months—referred to as the
long-term unemployed—topped 40 percent in December
2009 for the first time since 1948, when such data began
to be collected; it has remained above that level ever
since.

http://www.cbo.gov/ftpdocs/127xx/doc127 ... oyment.pdf

[93henfan]

Do I hear 20%? (while we're making up new methodologies)

[CitadelGrad]

Why not have new methodologies when it is clear that the BLS methodology produces grossly misleading and inaccurate data?

Are you suggesting the CBO has an agenda?

[mainejeff]

I hear it wuz 25% in Febvuary..........

[Skjellyfetti]

What would the rationale be for counting people working part time as "unemployed"

I could see them being counted in "underemployment"... but, how is someone with a job "unemployed"?

[catamount man]

say what you want, but South Carolina is getting ready to BOOM as far as job growth goes. In my home county, alone, 3-5 new businesses, PLANTS MIND YOU, are starting operations in 2012 or 2013. Seven new tire/automotive facilities across the state by 2015, not to mention the Boeing 747 operation in Charleston. The Palmetto State is about to boom. Can't wait!

[YoUDeeMan]

What would the rationale be for counting people working part time as "unemployed"

I could see them being counted in "underemployment"... but, how is someone with a job "unemployed"?

Probably the same rationale that allows those who are employed part-time to collect unemployment checks (not underemployment checks).

[Cap'n Cat]

Bad Conk reaching......

[kalm]

I hear it wuz 25% in Febvuary..........

Love me some Cleetus.

[CitadelGrad]

What would the rationale be for counting people working part time as "unemployed"

I could see them being counted in "underemployment"... but, how is someone with a job "unemployed"?

Oh, I don't know. Maybe because it's a good indicator of the quality of jobs that are available. Aren't you the one who is always blathering about a living wage? Well, it's hard to make a living wage when you are trying to survive on temp jobs and shitty service sector jobs.

[Wedgebuster]

Seems like everybody's not working except me.

Wish I wasn't working.

[Skjellyfetti]

those who are
working part-time but would prefer full-time work; if
those people were counted among the unemployed, the
unemployment rate in January 2012 would have been
about 15 percent.

So, next month when the unemployment drops further.... I'll look for you to include "people working full time but would prefer more income" as "unemployed."

[93henfan]

those who are
working part-time but would prefer full-time work; if
those people were counted among the unemployed, the
unemployment rate in January 2012 would have been
about 15 percent.

So, next month when the unemployment drops further.... I'll look for you to include "people working full time but would prefer more income" as "unemployed."

SOLD! To the gentleman who said 90%!!!

[Ivytalk]

Seems like everybody's not working except me.

Wish I wasn't working.

I guess you're self-employed. Gives you more time to shoot critters and varmints.