General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsAm I the only one who thinks the jobs numbers are complete fiction?
I know people went back to work but its difficult for me to believe.
Wounded Bear
(58,706 posts)so I don't blame you for having a healthy skepticism.
I share it.
Response to Wounded Bear (Reply #1)
Proud liberal 80 This message was self-deleted by its author.
tazkcmo
(7,300 posts)Proud liberal 80
(4,167 posts)Newest Reality
(12,712 posts)It doesn't add up. Ministry of Truth.
unblock
(52,317 posts)for example, if a sole-earner lost their job in march, then last month the stay-at-home spouse scrambled to get a job, any job to make ends meet, then the unemployment rate improved in april because there in march there was 1 out of 1 unemployed, but now there are only 1 out of 2 unemployed.
worse, if the original sole earner stops looking because they know there aren't any suitable jobs, then they are considered to have dropped out of the labor force, so at that point it's 0 out of 1 unemployed, which looks great on paper, but the reality is terrible, of course.
the latest data from bls shows a high number of such "discouraged workers".
there's also an classification error that they admit would have made the headline number 3% higher had they corrected it.
Pantagruel
(2,580 posts)but what they are measuring is incredibly tricky and unprecedented.The next few months will show wild swings, probably in both directions.I think recession is unavoidable but remember the stock market is not the economy.
onecaliberal
(32,894 posts)Theyre pumping billions to keep it propped up and it matters almost nothing to people.
stillcool
(32,626 posts)if there is one thing the GOP knows how to do is make numbers appear and disappear.
sop
(10,245 posts)Trump is putting out fake numbers.
SoonerPride
(12,286 posts)They are divorced from reality. Entirely.
dawg
(10,624 posts)Is it really all that surprising that we got 2.5(*) million of them back once states started re-opening.
We're still in a terrible, terrible hole. Too bad none of the powers that be seem to realize it.
(*) - I can't be bothered to look up the actual numbers. These will do.
duforsure
(11,885 posts)I don't believe anything trump claims, especially numbers.
Pantagruel
(2,580 posts)but it doesn't mean much with a 13% unemployment rate:
Canada unexpectedly adds 290,000 jobs on gradual reopening
Source: Financial Post
Canada unexpectedly adds 290,000 jobs on gradual reopening
Still, the unemployment rate ticked up to 13.7% in May, a postwar record as people returned to the labour force
Bloomberg News
Shelly Hagan
June 5, 2020
10:07 AM EDT
Canadas labour market unexpectedly strengthened after two-straight months of record losses as the country gradually reopens from COVID-19 related restrictions.
Employment rose by 289,600 in May, Statistics Canada said Friday in Ottawa, surprising economists who had been anticipating more losses last month. The gains were across most industries and provinces, though largely driven by higher employment in Quebec, the province hardest hit by the pandemic.
The numbers echo recent high-frequency data, which had signalled a recovery is underway, with job postings increasing and more Canadians reporting an increase in work at the end of May. They will be a relief to policy makers who had been scrambling to inject hundreds of billions in cash into the economy to keep it afloat. Still, just under 5 million remain without work or substantially reduced hours with the jobless rate at postwar records.
Alacritous Crier
(3,818 posts)I think this admin is going to try everything they can to sugarcoat the numbers between now and Nov. but reality will hit hard eventually. I'm sure Biden's mess will be worse than the mess Obama had to deal with.
shockey80
(4,379 posts)Recursion
(56,582 posts)A lot of businesses laid off a lot of people, took the PPP loans, and "hired" them back.
kimbutgar
(21,188 posts)You are not alone.
PoindexterOglethorpe
(25,895 posts)are fiction.
But while you're not the only one who thinks that way, to believe they are complete fiction is to miss what is actually there. For one thing, the numbers are always something of an estimate, depending on what information is conveyed in a timely manner. So they do have value, they are worth paying attention to.
And keep in mind that the number most reported is first time jobless claims.
a kennedy
(29,706 posts)I dont understand why no one isnt talking ABOUT THE RISING NUMBERS OF PEOPLE GETTING IT.
tritsofme
(17,399 posts)However, even in the best of conditions initial estimates can be off considerably, this is an incredibly difficult environment for them to do their work.
ProfessorGAC
(65,168 posts)...it's still over 13% UE.
This report only says is that situation is still bad. This isn't 10 going to 3.
It's 20 going to 13.
Millions of households aren't dancing just yet.
Cicada
(4,533 posts)Canada reports similar results
Businesses are reopening