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Unemployment 7 point 8 percent - And Other Metrics : Swingers Discussion 2098091061
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FORUMSGeneral DiscussionsPoliticsUnemployment 7 point 8 percent - And Other Metrics
TOPIC: Unemployment 7 point 8 percent - And Other Metrics
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Republicans DO NOT LIKE IT when the economy improves, or when unemployment drops. They are openly anti-American.

Flat Rock NC
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If you ever read Foxnews, the run big highlighted header.. "Bias Alert". Any article that you will not agree with, they forewarn you that you're not gonna like it. If that don't beat all.

And then all of the cheap grocery store gossip posts and weird news at the bottom. It's like the Inquirer Fox News Channel.

Milwaukee WI
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"New unemployment claims at a 4 year low. "

TBR, as a mgr of that fast food restaurant, what happened when you reached the bottom of a pickle jar?

Sanford NC
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While I don't really suspect the unemployment figure, there was an oddball going on with the new jobless claims figure. CNBC reports: “A Labor Department economist said one large state didn't report additional quarterly figures as expected, accounting for a substantial part of the decrease.

The state did report weekly jobless claims but did not process and report its quarterly claims number (when many people have to reapply for benefits for technical reasons as opposed to being newly laid off). As a result, there wasn't the expected spike in claims that normally happens at the start of the quarter.

It is unclear why that happened or how unusual that is."

I'd be interested to know how often this kind of goofup happens, and how much goofiness it contributes to the number. A state like California is 10% of the country, so it could be a pretty big number. I admit I don't fully understand this.

A drop in jobless claims coinciding with an increase in hiring makes logistical sense, but I'm sure they are not perfectly correlated.

Chesapeake VA
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It's a conspiracy Tbr. Haven't you heard? LOL...

Pittsburgh PA
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Ghost's With your folk's stated big name connections you should be able to find out and tell us what state turned in their data to late to be included in the figures. No hurry. I am off to work soon and won't be back for 9+ hours or so.

Tulare CA
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New unemployment claims at a 4 year low.

But that's peobably cooked, too.

Fullerton CA
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I said this a few days ago...

We'll get a new number - and a revision of September's number - a few days before the election.

Chesapeake VA
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""The way it's being done with the constant revisions -- significant revisions -- tells us that it's not as exact a science as it needs to be," Issa told Fox. "We very much intend to work every day through the November and December time to get these kinds of things done ... this is an issue where I think our committee has important jurisdiction to make sure we get it right."

First, 'car thief' Issa would investigate a ham sandwich if he thought he could nail Obama for jaywalking.

Second, the process that goes into these numbers are very public and have been a known, VERY known quantity for decades. These processes have been improved by the best (see my previous post) at Sandia and critiqued by dozens of high-level economists because SO MUCH relies on them. We have ALWAYS known they are 'loose' and therefore the revisions.

In fact, ask any credible economist and they will tell you that the very looseness of these numbers and the revision process is an invaluable 'input' into a complex economy and if they actually represented exact and firm numbers would be much less effective as the guidance tool it is.

It seems MOST systems benefit form a bit of 'fuzzy' input. Any physicist could tell you the same as any 'quant' in Hoboken; a rigid system is less viable the larger it gets.

East Fishkill NY
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WASHINGTON -- The chairman of the Oversight and Government Reform Committee in the U.S. House of Representatives is considering an investigation into the U.S. Labor Department's estimation of the national unemployment rate, The Huffington Post has confirmed.

Fox Business Network reported on Thursday that Rep. Darrell Issa (R-Calif.) plans to hold hearings on the September jobs numbers, which showed the unemployment rate had fallen to 7.8 percent from 8.1 percent. HuffPost could not confirm whether the hearings would definitely happen or whether Issa was merely thinking it over.

"The way it's being done with the constant revisions -- significant revisions -- tells us that it's not as exact a science as it needs to be," Issa told Fox. "We very much intend to work every day through the November and December time to get these kinds of things done ... this is an issue where I think our committee has important jurisdiction to make sure we get it right."

Issa is the latest prominent conservative to question the official jobs numbers.

Rumson NJ
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TOPIC: Unemployment 7 point 8 percent - And Other Metrics