Originally Posted by mcbear
Good to see you got the news from CHINA. Are they outsourcing that also?
An interesting observation. The Labor Department shows how many jobs have been lost due to layoffs over the past six years. The number has been pretty constant and encompasses any layoffs that cover 100 or more people, not just single or under 100 plant closings. Of the 5.000,000 listed as laid off or fired by the Bureau of Labor Statistics we can assume that a good number of them got new jobs. Guess who is touting those as NEW JOBS.
And the unemployment rate rolled down this month due, in part because many of the Q2 layoffs have come off the unemployment rolls. They have either got jobs OR they are no longer counted by anyone.
The only true number to determine the state of labor in any country is NUMBER OF PEOPLE WORKING[paying into SSA] as a percentage of POPULATION.
It is good that the unemployment rate is down but that number is as misleading as the DJIA number is in showing the robustness of economy. They are "elements" of the picture, but not the whole picture.
NOTE on WAGE JUMP: The phrase used in the report was "Wages and wage related costs." There is a difference.
People who lost their job (for whatever reason) got another job. How do you label that--good, bad, niether? If it were me (and has been) I would label it "good".
If the number of people who have new jobs exceeds the number who lose them, that's good, right?
If the ratio of people who have jobs increases, that's a good thing, right?
There are people who work that do not pay into SSI. Why don't they count?