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Posts:
15,710
Registered:
7/15/04
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(1 of 19)
Jul 2, 2009 6:14 PM
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It is estimated that we are a nation of almost 307 million people.
What is 1/10th of 1% of 307 million?
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Posts:
3,713
From:
Virginia Beach, VA
Registered:
11/3/06
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(2 of 19)
Jul 2, 2009 6:20 PM
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307,000
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A wise and frugal government, which shall leave men free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor and bread it has earned - this is the sum of good government
-Thomas Jefferson
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Posts:
15,710
Registered:
7/15/04
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(3 of 19)
Jul 2, 2009 6:23 PM
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OK, DD (and thanks) answer this for me:
in June we lost 467,000 jobs. Over 1/10th of 1% of our entire population. So how did the unemployment rate only increase by 1/10th of 1% when 467,000 would be 167,000 more than 1/10th of 1% of our entire population?
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Posts:
1,371
From:
Poconos, PA
Registered:
2/28/06
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(4 of 19)
Jul 2, 2009 6:27 PM
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The answer is "D"
NO!! "C" .... "C"!!
It's a TRICK question .... :D
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Posts:
4,185
From:
Oregon
Registered:
6/18/07
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(5 of 19)
Jul 2, 2009 6:28 PM
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Must be one of those "delayed" indicators.
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I'll try being nicer if you try being smarter...
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Posts:
3,713
From:
Virginia Beach, VA
Registered:
11/3/06
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(6 of 19)
Jul 2, 2009 6:42 PM
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Not sure what you are referring to, but my guess is it was a round figure rather than an exact one.
Either way you cut it this admin has done very little to help others get jobs.
About a trillion spent in stimulus and all we get is more unemployment.
But gosh, he sure does speak well and has a nice smile. To our leftist friends, that's all the qualification one really needs.
--
A wise and frugal government, which shall leave men free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor and bread it has earned - this is the sum of good government
-Thomas Jefferson
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Posts:
15,710
Registered:
7/15/04
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(7 of 19)
Jul 2, 2009 7:11 PM
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> Not sure what you are referring to, but my guess is
> it was a round figure rather than an exact one.
>
DD, here is what I am getting at:
in May, we lost 485K jobs (originally reported at 345K but then adjusted up later in June) and the unemployment rate jumped 1/2 of 1%.
This month, we lost 467 jobs (just 18K less) and the unemployment rate only increases by 1/10th of 1%.
If the unemployment rate is determined by the the number of unemployed in the total available work force, then how can just 18K less than May equal such a small percentage increase?
> Either way you cut it this admin has done very little
> to help others get jobs.
>
Yeah, he talks about how he has saved 4,000 teacher jobs, but the Stimulus was to create jobs, not make payroll for failed cities.
> About a trillion spent in stimulus and all we get is
> more unemployment.
>
And it will continue to go up.
> But gosh, he sure does speak well and has a nice
> smile. To our leftist friends, that's all the
> qualification one really needs.
>
No the only national leader to have those traits, eh?
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Posts:
2,873
From:
Somewhere on Earth
Registered:
1/22/08
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(8 of 19)
Jul 2, 2009 7:14 PM
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> It is estimated that we are a nation of almost 307
> million people.
>
> What is 1/10th of 1% of 307 million?
Is this in base 8 or base 10.
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What me worry?
--- Alfred E. Newman
Visit Monkey in the Middle
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Posts:
7,040
Registered:
6/27/03
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(9 of 19)
Jul 2, 2009 7:20 PM
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>So how did the unemployment rate only increase by 1/10th of 1% when 467,000 would be 167,000 more than 1/10th of 1% of our entire population?
307 million = All men, women and children in the US regardless of age and retirement.
If you assume half are of working age, that means that there ~ 153.5 million working.
467K jobs lost is ~ 0.3% of the total work force.
Some one with more time can look up what the actual work force number is. I assume it is somewhere between 1/3 and 1/2 of the population.
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"We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle" --- Winston Churchhill
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Posts:
15,710
Registered:
7/15/04
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(10 of 19)
Jul 2, 2009 7:44 PM
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Splitpi, I found a report from Jan. '04 that said our workforce was 138.5 million. And unemployment dropped after that.
So now we have 14.7 million that have lost their jobs in the last year. That is well over 10%.
Someone is playing with the numbers.
I read an article today ((don't remember where) that our real unemployment loss since the recession began is really 16.5%.
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Posts:
782
Registered:
1/12/09
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(11 of 19)
Jul 2, 2009 8:37 PM
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"in June we lost 467,000 jobs. Over 1/10th of 1% of our entire population. So how did the unemployment rate only increase by 1/10th of 1% when 467,000 would be 167,000 more than 1/10th of 1% of our entire population? "
Retire, it is my understanding that unemployment figures are based on the number of people actively looking for jobs. As far as I know this figure does not include the number of people who may have been recently hired (some of whom may not be included in that unemployment figure.) Regardless, the percent of unemployed in the U.S. is thought in reality to be far greater than the 10% figure economists use because it does not take into consideration those who've given up actively looking for work. In other words, I agree with SGT0311USMC, the answer is "D". No I take that back, the answer is C. Yes, it's C
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Posts:
15,710
Registered:
7/15/04
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(12 of 19)
Jul 2, 2009 8:59 PM
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johnny05o, how does the federal government know that anyone has stopped looking for a job once thier unemployment benefits expire and they no longer have to report where they have looked for work?
The problem is that unemployment figures are, well, in a word, bogus.
So why isn't the government reporting the true numbers?
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Posts:
2,873
From:
Somewhere on Earth
Registered:
1/22/08
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(13 of 19)
Jul 2, 2009 9:10 PM
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> johnny05o, how does the federal government know that
> anyone has stopped looking for a job once thier
> unemployment benefits expire and they no longer have
> to report where they have looked for work?
>
> The problem is that unemployment figures are, well,
> in a word, bogus.
>
> So why isn't the government reporting the true
> numbers?
And some are like me who took an early retirement instead of being laid off.
--
What me worry?
--- Alfred E. Newman
Visit Monkey in the Middle
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Posts:
9,416
From:
Lake Pend O'reille
Registered:
2/15/04
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(14 of 19)
Jul 2, 2009 10:29 PM
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"So now we have 14.7 million that have lost their jobs in the last year. That is well over 10%.
Someone is playing with the numbers.
I read an article today ((don't remember where) that our real unemployment loss since the recession began is really 16.5%."
Somehow I doubt that the unemployment numbers are manipulated, at least I sure hope not. If they are then that needs to stop. This is a classic example of why bureaucracy and civil servants are not a bad thing. Often it is best to have those who do the day to day work separate from political appointees.
However politicians have skewed the way the numbers are tallied by legislation that the bureaucracy has to follow. My wife and I have been out of work for three years. I doubt that we are labeled as being unemployed. We accepted the realities of the workforce that when you are looking for a new job in your late fifties that it's a pretty worthless endeavor.
Our decision was to sell our house and move to a cheaper area. We would have preferred to continue working but it doesn't make sense to chase jobs around the country when you are our age (the work we did probably would have required a relocation, even though we could easily work from home anywhere there was an internet connection).
We represent one of the reasons the real unemployment number isn't disclosed (and this has been going on for decades, it isn't new in 2009).
Others die. Some are old enough to move onto social security in a year or two. Some move to the underground economy. There are many reasons why the numbers don't just keep rising, and why they aren't really accurate in the first place.
None of this is new. The figures for the unemployment rate are a matter of policy, policy that I think is wrong. But that's how it's been for as long as I can recall. You drop off of unemployment insurance and suddenly you're no longer listed as unemployed.
Then there is the whole underemployed problem and the lack of monitoring that classification.
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Posts:
18,010
Registered:
2/19/04
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(15 of 19)
Jul 2, 2009 10:31 PM
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>
> About a trillion spent in stimulus and all we get is
> more unemployment.
>
we got PLENTY of rich bankers and bureaucrats.
--
Hate is not overcome by Hate; by Loving Kindness alone is Hate appeased. This is an eternal law. The Buddha: Dhammapada V. 5
maintain hope; pray for peace; work for justice.
"Nonviolence is the answer to the crucial political and moral questions of our time; the need for mankind to overcome oppression and violence without resorting to oppression and violence."
Martin Luther King Jr.
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