On 10/08/2012 09:47 AM, Pete Theisen wrote:
Hi Everybody,
Warning: Contains information offensive to those who routinely feign
offence.
http://politics.blogs.foxnews.com/2012/10/08/romney-gives-alternate-reason-drop-unemployment-rate
Secretary of Labor Hilda Solis has called accusations that members of
the Bureau of Labor Statistics manipulated the numbers “ludicrous”,
calling the economists tasked with calculating the figure “our best
trained and best skilled” employees.
As Mark Twain said, "There are lies, damned lies, and then there's
statistics"
I think Governor Romney misspoke during the debate, when he claim 12 or
13 million Americans were unemployed. I think his figure included the
unemployed that make up the normal unemployment rate.
The normal unemployment rate is made up of the people in the system at
any given time. For example, when an employee loses his job, he will
contact the state unemployment agency. The state agency will start the
process of getting the applicant back to work. The applicant will begin
drawing unemployment, make required contacts with employers, that have
listed positions with the state agency, for an interview, etc.
Eventually the unemployed applicant will find a job, or drop out of the
system.
Due to the great recession, it is taking longer for the unemployed to
find a jobs. So people remain unemployed six months, a year, even as
long as 18 months, etc. Some applicants are just in it for the
unemployment benefits and drop out when benefits expire. Others are
unemployable and drop out once they learn there is no hope.
Still it is normal to have 5% or 6% unemployment rate a any given time.
These are the ones working there way through the process.
Regards,
LelandJ
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