11-06-2010, 08:03 PM
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Confirmed User
Join Date: Mar 2008
Location: London, Saint-Tropez, Bermuda, Moscow
Posts: 5,289
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Quote:
Originally Posted by TheDoc
Last I heard the rate in July was 9.7 and had hit 9.2% in Sept and held it in Oct, even though we added 150k jobs. 150k added is a net gain, but in the ratio of millions of jobs lost overall, it's a tiny gain. But that doesn't mean it isn't good. %'s really make no difference (most of those jobs will never return) we've dropped this year either way and increased jobs... not bad at all.
edit: went and looked, it is 9.6 - either way, point was it has dropped and net jobs have gone up. It's not huge, but anyone expecting it to be at this point, when some jobs are gone forever, would be crazy talk.
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It's crazy government math is what it is. They announce positive sounding numbers to get headlines and then revise them down later when no one is paying attention to the old numbers and only focused on the new numbers. It's also not an accident that unemployment has not hit 10% yet. It's not palatable to have double digit unemployment so they fudge the numbers down. Shadow Stats puts real unemployment well over 20%: http://www.shadowstats.com/alternate...loyment-charts
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