US unemployment rate rises to 9.9%
- Thread starter Icarus27k
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The U-6 unemployment rate has been inexplicible lately. I don't think I trust it in determining trends. A few months ago, the U-6 rate went down when all accounts showed it should've been going up, and now it's going up when all accounts say it should be going down.
There's something unforseen having an effect on the U-6. This rate includes the underemployment (people who have jobs, but are working less hours than they want to). Perhaps people are getting re-hired, but they still want to work more hours. In that case, those people wouldn't get counted in the 9.9% unemployment figure, but they would get counted in the 17.1% figure. More discourged workers would be re-entering the job hunt, causing the U-3 to bump up to 9.9, and people that have been re-hired want more hours, causing the U-6 to bump up to 17.1.
SirJosephPorter, in his imimitable, snaky way, opined:
"You got it, YJ. When there is a Democratic president in power, the real unemployment is 17.1%. When a Republican president is in power, the real unemployment is zero. Isn't that how it works out?"
I aquiesce, not always. But the last time unemployment was at 18%, inflation ditto, and interest rates at 20% was during the administration of your hero, Jimmy Carter.
A Democrat, last time I looked.
"You got it, YJ. When there is a Democratic president in power, the real unemployment is 17.1%. When a Republican president is in power, the real unemployment is zero. Isn't that how it works out?"
I aquiesce, not always. But the last time unemployment was at 18%, inflation ditto, and interest rates at 20% was during the administration of your hero, Jimmy Carter.
A Democrat, last time I looked.
The official US unemployment rate hasn't reached 18% in my recollection. Jimmy Carter was, of course President Jan. 1977-Jan. 1981. The following line graph of historic US unemployment rates only measures up to 11%. As you can see the Carter administration didn't even see a rate of 11%.
The U-6 unemployment rate, the 17.1% number that darkbeaver refers to as "real unemployment" has only been tabulated officially since the 1990s.
The official US unemployment rate hasn't reached 18% in my recollection. Jimmy Carter was, of course President Jan. 1977-Jan. 1981. The following line graph of historic US unemployment rates only measures up to 11%. As you can see the Carter administration didn't even see a rate of 11%.
The U-6 unemployment rate, the 17.1% number that darkbeaver refers to as "real unemployment" has only been tabulated officially since the 1990s.
Icarus, I think YJ is referring to the unemployment figures in his mind, as he sees it. In his mind, unemployment definitely was 18% when Carter was the president. He has different standards of truth.
Thus, his unemployment statistics may go something like this:
Nixon – zero unemployment, zero inflation
Carter – 20% unemployment, 25% inflation
Reagan – zero unemployment, zero inflation
Bush - zero unemployment, zero inflation
Clinton – 25% unemployment, 30% inflation (YJ hates Clinton with a visceral passion, with burning hatred, he had an affair with his intern after all).
Bush – zero unemployment, zero inflation
Obama, - 17.1% unemployment, 25% inflation.
He is not talking of statistics reported anywhere (well, they may be reported in extreme rightwing websites, like Conservative Policy News).
Icarus, conservatives have cleverly shifted the debating parameters on you. Now they talk of ‘real unemployment’, they never talked of real unemployment when Bush was in power. They compare real unemployment with official unemployment figures (in single digit) during Bush presidency and by implication claim that Bush was a great president.
I for one, refuse to debate on those terms. The same crowd tried to minimize the unemployment figures during Republican administration, now they will do anything to inflate the unemployment figures.
Unemployment has been reported one way for decades now and I don’t see any reason to change the parameters to show a sudden, huge rise in unemployment, just because a Democrat is in power.
And it is a safe bet, next time a Republican becomes the president, conservatives will abandon all talk of 'real unemployment' and will go back to official unemployment figures.
Just like he said he would. Go and read his campaign stuff.
Well he said he could do it. Perhaps you should have been a little more clear.
Really? :lol:
Already throwing in the towel?
Seems like only yesterday you wanted to make a bet that the Democrats were here to stay for many years to come and the GOP was perpetually sent to the basement.
Obama is doing far less than what he could be doing to fight unemployment. He gave up the fight in a major way when he re-appointed Ben Bernanke as Federal Reserve chairman. I can think of a few excellent economists who believe the Fed can take actions to lower the unemployment rate who should've been appointed to the Fed Board of Governors and Obama did not appoint them.
On another topic, Arizona probably wouldn't have that horrendous immigration law if Obama had left Janet Napalitano Governor of Arizona instead of appointing her Homeland Security Secretary. I remember watching the news in 2008, during a discussion of Obama's appointment of Napalitano, when an Obama defender said something like: "I know taking Napalitano away from AZ means a Republican will become Governor, but I think AZ can survive a couple years of Republican leadership."
Yeah, Obama sucks at the appointing thing.
Yeah, Obama sucks at the appointing thing.
You tell me Eagle, he was your guy. If you can't answer the question just say so.
All politicians say they can do anything....how many times do they deliver?
Yes....really.:lol:
I never said that EagleSmack, I never make predictions about elections. That is the job of Republicans, like when God told Pat Robertson that Bush was going to win in 1992, or according to Carl Rowe's math, Republicans were going to retain their majorities in the Senate and House in 2006. Or you, I think you have predicted that Republicans will gain control of the House and Senate in 2010 (and win the presidency i 2012).
I don't have the access crystal ball (or the Biblical prophesy that Republicans do.
I haven't been on in a long while due to working my 2 jobs and saving money to get out of the US...anyway...President Obama said in his acceptance speech that the country is in a mess and that is will take time to get it better and it will take every american to do their part. The US is the most wasteful, arrogant, and self centred country on the planet and I have been to quite a few. The US believes they are superior while they lag behind in healthcare,education, environmental concerns and social concerns ie race relations and overall way of life. I find it quite embarrassing that when I listen to people from other parts of the globe who actually are intelligent to praise Obama for tackling a very hard task of fixing messes of administrations past, but because he doesn't do it instantly, he is a failure to his own people. Very sad and it shows the US is still has a long way to maturing and being taken seriously without them wagging a gun in your face.
Can he even fix what Bush and the Republicans did?
I had no idea you had so much faith in Obama.