Tuesday, January 31, 2012

Unemployment Levels

In the news today, I have a hard time understanding the news.

The latest piece of information I've seen about the economy is entitled More seek unemployment aid, but trend is positive.  The good news of the article is that, two weeks ago, the unemployment levels were at their lowest point in four years.  The bad news is that the unemployment levels quickly went back up again.

The article puts a positive spin on the news, saying that if you average out the unemployment levels over the last month, they are rather low.  However, that's probably because the week with the "lowest point in four years" rating tips the scales a bit.


The part about the article which interested me the most was at the end, where is said 8.7 million Americans were fired, due to the Great Recession.  Currently, there are 13 million people out of work.  Using some quick math, that would indicate that 4.3 million people were out of work, before the economy crashed.  I think these numbers might need to be readjusted.

Two, what about people who don't qualify for unemployment?  I know a lot of people who have jobs that don't give unemployment (or any) benefits; plenty of companies got rid of those when the recession hit.  And let's not forget the people who were on unemployment, but were unable to get new jobs before the benefits ran out.  I think these unemployed people who do not receive unemployment benefits should be taken into consideration, when you're trying to judge how well the economic recovery is doing.

5 comments:

Lynniepoo87 said...

Many articles like to put a liberal spin on things. Unemployment went down because of seasonal (Christmas) hiring. Unemployment only measures those drawing unemployment from the Government. It doesn't measure those underemployed (working PT or at jobs below their training) or those whose benefits have expired or those who have stopped looking.

Jobs are still top priority and the economy, while not technically in recession yet, is heading for a double dip recession.

Anonymous said...

The people who aren't getting unemployment benefits are known as Discouraged Workers. I bet that if you looked up the amount of unemployed and discouraged Workers, the number would be a lot higher. Which is very sad when you think about it...

Miriam said...

There's also the people that are making just enough to not qualify for any help.
My brother is sort of self-employed. He has a law degree and a degree in landscape design, he's starting a Christmas tree farm, and he's been working any job he could for the past 2.5 years. :/ He has four kids and no insurance.. Thankfully my church has a program that helps people in need <3

Anonymous said...

@lynniepoo87,
The Republicans are the ones who came up with the rules for how we count employed and unemployed members of society. Absolutely nothing you mentioned has anything to do with putting a "liberal spin" on things or, frankly, trying to make either party look good. It's simply a matter of counting up the numbers based on the rules that Congress set under Regan that have never been updated.

Anonymous said...

Actually the BLS (Bureau of Labor Statistics) started categorizing and counting workers in 1967: thats either Lyndon B. Johnson or Eisenhower (I think)