Saturday, October 6, 2012

Employment numbers no conspiracy theorys

The jobs report has come out and it looks like we've dropped below 8% for the first time since Obama took office. Key word here being LOOKS. Let's take a look at those numbers and see where they came from.

The jobs report for September 2012 states that we added 114,000 jobs to the economy, much lower than the average 146k per month. How does that corellate with a 0.3% drop? According to the BLS the unemployment rolls decreased by 456,000 people. That's 456k that are no long getting unemployment. Did they get jobs? Doesn't jive does it? Math is a fickle beast indeed. The BLS included in their report a household survey that counted a 873,000 increase in the number of people working and states:

"Total employment, as measured by the household survey, rose
by 873,000 in September, following 3 months of little change.  On
a month-to-month basis, the household survey employment measure
is more variable than the payroll employment measure due to the
smaller household survey sample.  Over longer periods, the
changes in household and payroll survey employment tend to track
more closely."

I'm not sure where these numbers come from. These "household survey" numbers could have come from a sample size of 10 households or 10 Million house holds. To support these numbers we would have to see a net job increase per state of 17,460. I know that hasn't happened in Maine. I'm not sure if that's happened anywhere that I know of. Even if we are to believe that this number creeped up over the course of the year...how many people have seen this kind of job increase in their own community? Not too many people hiring, at least not at this level.

These are the facts, not a theory. The math does work if, and only if, you ask the right question. The question they ask is who is on unemployment. The question we ask is who is unemployed. The U-6 number, or real number of unemployed currently stands at 14.7% and is unchanged. The fact is that the employment outlook is still very bleak. The 7.8% unemployment rate is still unacceptable. 7.8% of the unemployed are getting unemployment compensation, the other 6.9% none. That's dismal.

I'm not going to twist the numbers like the two parties. I personally know of dozens of people in my current field (medical imaging) that have training, certification and state license but cannot get work in the field. Their is not one of us that has had our life touched by someone that is unemployed or under-employed. We need a new direction.

That's my two cents, spend 'em or put 'em in the dish for the next person.