Saturday, February 20, 2010
Friday, February 19, 2010
Friday, February 12, 2010
The way unemployment is calculated leave much to be desired. There is too many in the population who are overlooked when this number is calculated. The number we hear all the time is only looking at those who are seeking jobs verses those who actually have one. This sounds like a good representation but let's look at the flaws.
Some people simply give up or retire. Retiring is a reasonable change in job status when your age or financial fortitude will allow it. Giving up on the other hand, shows what a sad state our economy is really in. These groups are ignored in the employment numbers and thereby skew the results.
The other group not talked about anywhere is the under employed. These are the people who's benefits have run out and return to the work force under a significantly less status and pay then previous or simply resort to part-time just to get by. This group also skews the numbers as they are counted as employed when the capacity of employment is not rated. When compared to there previous employment they may be half employed or sum other percentage employed.
Perhaps the video helped.
While everyone is all excited about the current employment numbers, it really is a shell game. They don't count all those who should count. We are seeing people falling from the employment rolls with no real increase in net jobs. This should be horrifying.
The key issue is how many people are now living off the few who are working.