The Conservative Cave

Current Events => Economics => Topic started by: Chris_ on October 07, 2010, 01:13:47 PM

Title: Job losses in 2009 likely bigger than thought
Post by: Chris_ on October 07, 2010, 01:13:47 PM: Quote
Job losses in 2009 likely bigger than thought

WASHINGTON (Reuters) â€“ The economy likely shed more jobs last year than previously thought, but analysts say the undercount by the government should prove less severe than it did during depths of the recession.

The Labor Department on Friday will give an initial estimate of how far off its count of employment may have been in the 12 months through March. The government admitted earlier this year that its count through March 2009 had overstated employment by 902,000 jobs.

The department blamed its 902,000 miss on faulty estimates of how many companies were created or destroyed, and it has not yet made any changes to the so-called birth-death model that produces this projection.
Reuters (http://news.yahoo.com/s/nm/20101007/us_nm/us_usa_economy_jobs)
Title: Re: Job losses in 2009 likely bigger than thought
Post by: BlueStateSaint on October 07, 2010, 01:16:29 PM: There's something on Drudge from Gallup, which states that the actual unemployment rate is 10.1% . . .
Title: Re: Job losses in 2009 likely bigger than thought
Post by: Chris_ on October 07, 2010, 01:21:10 PM: The BLS has the unemployment at 9.6% for August 2010.
Quote
The government's final unemployment report before the midterm elections is based on job market conditions around mid-September. Gallup's modeling of the unemployment rate is consistent with Tuesday's ADP report of a decline of 39,000 private-sector jobs, and indicates that the government's national unemployment rate in September will be in the 9.6% to 9.8% range. This is based on Gallup's mid-September measurements and the continuing decline Gallup is seeing in the U.S. workforce during 2010.

Gallup (http://www.gallup.com/poll/143426/Gallup-Finds-Unemployment-September.aspx)
Title: Re: Job losses in 2009 likely bigger than thought
Post by: cavegal on October 07, 2010, 01:24:24 PM: Nothing, nothing they say is the truth. The only truth he has kept is "fundamentally transform this country" :bird: :banghead:
Title: Re: Job losses in 2009 likely bigger than thought
Post by: true_blood on October 07, 2010, 01:32:55 PM: You mean to say the gubberment made a "mistake". Say it ain't so!! :banghead:
Title: Re: Job losses in 2009 likely bigger than thought
Post by: DumbAss Tanker on October 07, 2010, 02:55:06 PM: Quote
Job losses in 2009 likely bigger than ~~thought~~ admitted

Fixed for truthiness.
Title: Re: Job losses in 2009 likely bigger than thought
Post by: NHSparky on October 07, 2010, 08:13:54 PM: Problem is, I'm willing to venture out on a limb here and say that the figure will be "spun" as 9.7, not 10.1.

10 percent is the magical number. If it's CLOSE to 10, it can be spun, but if it's over, this administration goes into the midterms well and truly screwed, because double-digit unemployment is what the voter is going to carry with them into the booth.

9.6 for August, no higher than 9.7 for September. I just have a very strange feeling on this one.
Title: Re: Job losses in 2009 likely bigger than thought
Post by: true_blood on October 07, 2010, 08:28:03 PM: Quote from: DumbAss Tanker on October 07, 2010, 02:55:06 PM
Fixed for truthiness.
H5 for that. You are correct sir. :hi5:
Title: Re: Job losses in 2009 likely bigger than thought
Post by: DLR Pyro on October 07, 2010, 08:28:18 PM: this revised job loss report wasn't supposed to be released until November 3rd.
Title: Re: Job losses in 2009 likely bigger than thought
Post by: Freeper on October 09, 2010, 11:12:46 AM: Hey we have record number of people on food stamps now so according to Pelosi our economy should be booming any day now.