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[ThisWreckage]

http://money.cnn.com/2012/03/09/news/economy/unemployment-election/index.htm?hpt=hp_t1

This is a fascinating article. I still think he's going to get re elected but the article articulates just how big of a mess we're actually in. Several of my friends and family members have completely given up looking for work within the U.S.

 

[AiTM]

I dont understand when they say people just give up looking for work...so they just decide not to eat and decide not to have bills? or what....

 

[ThisWreckage]

I dont understand when they say people just give up looking for work...so they just decide not to eat and decide not to have bills? or what....

Most of the people I graduated college with (I'd estimate at least 75%) have moved back in with their parents. I still live at home and I work two jobs.

 

[Pagusas]

I dont understand when they say people just give up looking for work...so they just decide not to eat and decide not to have bills? or what....

I always take it to mean "I'm just going to sit on my butt and leach off unemployment as long as i can. and when that goes away I'll live at home and leach off whoever else i can."

 

[AiTM]

Most of the people I graduated college with (I'd estimate at least 75%) have moved back in with their parents. I still live at home and I work two jobs.

Isnt college graduate unemployment only something like 4%

 

[codhand]

I always take it to mean "I'm just going to sit on my butt and leach off unemployment as long as i can."

Then you take it wrong.

 

[ThisWreckage]

Isnt college graduate unemployment only something like 4%

I have no idea. I find that very, very hard to believe.

Those statistics are probably skewed because a lot of people are graduating, not able to find work, and wind up going back to school.

 

[Pagusas]

Then you take it wrong.

so then suggest what it should mean.

I have no idea. I find that very, very hard to believe.

Those statistics are probably skewed because a lot of people are graduating, not able to find work, and wind up going back to school.

I dont know if they are skewed, but you can see the stats here:
http://www.bls.gov/news.release/empsit.t04.htm

no highschool: 12.9
Highschool: 8.3
Associates: 7.3
Batchlors or higher: 4.2

 

[beast786]

Most of the people I graduated college with (I'd estimate at least 75%) have moved back in with their parents. I still live at home and I work two jobs.

What field ?

 

[pestul]

Apparently the jobless stats are skewed in Canada as well. Young people are having great difficulty finding work (unless you're in a trade that fits in with the oil sands). Thankfully I've been employed full-time permanent for a number of years now, but I'm hearing a lot of sad stories coming from recent grads. Many are indeed living with their parents much much longer.

 

[jchap]

Isnt college graduate unemployment only something like 4%

4.2% and steady over the last 12 months according to Bureau of Labor Statistics. http://www.bls.gov/news.release/pdf/empsit.pdf

The OP apparently hangs out with winners.

 

[Bombadil]

I always take it to mean "I'm just going to sit on my butt and leach off unemployment as long as i can. and when that goes away I'll live at home and leach off whoever else i can."

When you can tell what someone's political affiliation is just by reading a single sentence on the internet, you know there's something terrible wrong with them.

 

[Wazzim]

so then suggest what it should mean.

People might look for work in the informal sector.

 

[PhoenixDark]

If the participation rate continues to rise slowly while job growth continues to grow, we might reach a point where the numbers essentially offset each other resulting in a stagnant UE rate. Which means we could be looking at 8.3 type numbers for awhile, or a slow crawl back to 9%.

But if we're getting 200k jobs a month from now until November, Obama has a very good chance at winning re-election regardless of the UE number

 

[Pagusas]

I recall my econ professor from long ago (2004ish) saying "you will always have around a 4 to 6% unemployment rate, as 4-6% of the country is unemployable."

I never really thought much about that or considered what he meant (As truth be told, in 2004 no one i knew really ever cared what the employment percentages were). Has anyone ever heard anything similar or know what that means?

 

[jchap]

I recall my econ professor from long ago (2004ish) saying "you will always have around a 4 to 6% unemployment rate, as 4-6% of the country is unemployable.

I never really thought much about that or considered what he meant (As truth be told, in 2004 no one i knew really ever cared what the employment percentages were). Has anyone ever heard anything similar or know what that means?

It means 4 - 6% of people are too wheels off to maintain a job, are too unskilled to fill open jobs, or just don't want to work.

 

[thekad]

I always take it to mean "I'm just going to sit on my butt and leach off unemployment as long as i can. and when that goes away I'll live at home and leach off whoever else i can."

wat

 

[vicissitudes]

http://money.cnn.com/2012/03/09/news/economy/unemployment-election/index.htm?hpt=hp_t1

This is a fascinating article. I still think he's going to get re elected but the article articulates just how big of a mess we're actually in. Several of my friends and family members have completely given up looking for work within the U.S.

Fascinating? Really?

All it says is since more people started looking for jobs the unemployment rate didn't drop even though we added jobs. It's basic math. And of course it's silly to look purely at the unemployment rate...most people know that. Adding more jobs is a good thing even if the unemployment rate remains unchanged or rises slightly.

Definition of FASCINATING

: extremely interesting or charming : captivating
— fas·ci·nat·ing·ly adverb

Maybe we have different definitions of the word fascinating.

 

[Cheebo]

I always take it to mean "I'm just going to sit on my butt and leach off unemployment as long as i can. and when that goes away I'll live at home and leach off whoever else i can."

How does one leach off unemployement when the demographic in question in those who are no longer on unemployment? Wha? Is this how all conservatives think?

 

[SouthernDragon]

I recall my econ professor from long ago (2004ish) saying "you will always have around a 4 to 6% unemployment rate, as 4-6% of the country is unemployable."

I never really thought much about that or considered what he meant (As truth be told, in 2004 no one i knew really ever cared what the employment percentages were). Has anyone ever heard anything similar or know what that means?

Hmm. That's a weird way to describe structural unemployment.

There will always be unemployment, but not for the reason he described. There are always going to be people that are between jobs, either because they were fired, they are looking for something better, because they are moving, going back to school, or are just taking a hiatus.

The pool of the unemployed isn't static; it's not a group of "unemployables". It's a shifting mass of people with better prospects, are down on their luck, or for other myriad of reasons.

It means 4 - 6% of people are too wheels off to maintain a job, are too unskilled to fill open jobs, or just don't want to work.

This is wrong. There is no doubt that there are people who are just simply unable to maintain a job, but their numbers don't account for 4-6%.

 

[Slurpy2k20]

Most of the people I graduated college with (I'd estimate at least 75%) have moved back in with their parents. I still live at home and I work two jobs.

75%? What college did you go to? I don't know, to me that figure points more to the quality/skills of the individual than any kind of economy. Maybe your college class wasn't that bright?

 

[Averon]

The UE number won't determine whether Obama gets a second term. If by Nov people feel they can go out into the job market and find a decent to good job in a reasonable time frame, Obama wins re-election regardless of where the UE number is at.

Touting the UE number as a negative when >200K jobs are being created is a loser's strategy.

 

[codhand]

75%? What college did you go to? I don't know, to me that figure points more to the quality/skills of the individual than any kind of economy. Maybe your college class wasn't that bright?

He is wrong, it's actually closer to 80%

"A survey of last year's college graduation class showed that 80 percent moved back home after getting their diplomas"

http://articles.baltimoresun.com/20...0_1_job-market-graduate-school-marketing-firm

http://newsfeed.time.com/2011/05/10/survey-85-of-new-college-grads-moving-back-in-with-mom-and-dad/ 85% according to this one.

You shouldn't generalize large groups of people.

 

[markatisu]

There is always employment, whether its a GOOD job is neither here nor there. People who say they can't find jobs need to be real and say they can't find jobs that pay them what they want to be making.

I never will understand how someone feels its better to just not work then to take a lower paying/lower "class' job if it can make ends meet

 

[The Technomancer]

There is always employment, whether its a GOOD job is neither here nor there. People who say they can't find jobs need to be real and say they can't find jobs that pay them what they want to be making.

So you're saying that its theoretically possible to have 0% unemployment?

 

[Canuck76]

He's not in a dilemma. The American people will want to make history again and have Obama be the first black man to serve two terms.

 

[levious]

There is always employment, whether its a GOOD job is neither here nor there. People who say they can't find jobs need to be real and say they can't find jobs that pay them what they want to be making.

I never will understand how someone feels its better to just not work then to take a lower paying/lower "class' job if it can make ends meet

when you have a certain educational background and work experience, you begin to get cut off from those lower jobs you mention. The employers view you as someone who will only work for them as long as you have to, and they'd sometimes rather not invite the higher employee turnover.

 

[Rentahamster]

CBO says that it's the longest stretch of high unemployment since the great depression.

http://www.cbo.gov/publication/42989

The rate of unemployment in the United States has exceeded 8 percent since February 2009, and CBO projects that it will remain above 8 percent until 2014.

http://www.cbo.gov/sites/default/files/cbofiles/attachments/02-16-Unemployment.pdf

 

[Vox-Pop]

If I don't have a real job by Nov, I'm voting Romney. I didn't vote for Obama last election for the same reason.

 

[Dreams-Visions]

It means 4 - 6% of people are too wheels off to maintain a job, are too unskilled to fill open jobs, or just don't want to work.

wait, what? Read a local economic development book and correct your own bullshit.

also: location, location, location.

 

[Stumpokapow]

I recall my econ professor from long ago (2004ish) saying "you will always have around a 4 to 6% unemployment rate, as 4-6% of the country is unemployable."

I never really thought much about that or considered what he meant (As truth be told, in 2004 no one i knew really ever cared what the employment percentages were). Has anyone ever heard anything similar or know what that means?

Not so much what your prof said, but...

https://en.wikipedia.org/wiki/Full_employment

" It is defined by the majority of mainstream economists as being an acceptable level of natural unemployment above 0%, the discrepancy from 0% being due to non-cyclical types of unemployment. Unemployment above 0% is advocated as necessary to control inflation, which has brought about the concept of the Non-Accelerating Inflation Rate of Unemployment (NAIRU); the majority of mainstream economists mean NAIRU when speaking of "full" employment."

etc

 

[Anticitizen One]

I dont understand when they say people just give up looking for work...so they just decide not to eat and decide not to have bills? or what....

moving back in with the parents dawg

 

[ElectricThunder]

There is always employment, whether its a GOOD job is neither here nor there. People who say they can't find jobs need to be real and say they can't find jobs that pay them what they want to be making.

I never will understand how someone feels its better to just not work then to take a lower paying/lower "class' job if it can make ends meet

Some regions are more hard hit by economic times than others, and if there is one thing that is perhaps more true now than in the past that gets little in the conversation nationally, the average person's ability to just "go elsewhere" is rather much in the shitter with the rest in terms of state-hopping or even just county hopping depending.

Rough times afoot and plenty of places wanting to squeeze blood from stones chasing some phantom of a short-term gain.

 

[Kabouter]

So you're saying that its theoretically possible to have 0% unemployment?

Theoretically possible, but man, you'd get some serious inflation going if that were the case.

 

[derder]

If I don't have a real job by Nov, I'm voting Romney. I didn't vote for Obama last election for the same reason.

This logic fascinates me.

 

[backflip10019]

I spent a week looking and was able to jump to a new job in my sector in only two weeks, so it's definitely possible.

 

[xavi42]

Obama is toast, the economy will be his downfall.

 

[bill0527]

I really hate the way the unemployment rate is calculated because it doesn't give a true indication of how bad (or good) things are.

It doesn't take into account people who have given up looking for work and it doesn't take into account people who have taken jobs far below what is required for their education and other qualifications outside of what they consider to be their qualified field of work. Like the people with bachelor's degrees stuck at Starbucks.

You can't get a true picture of the employment landscape without looking at these other factors.

 

[speculawyer]

There is another dilemma . . . the economy or gas prices.

If the economy gets better then people get hired to jobs, more people drive to jobs, and thus we burn more oil. This drives up the price of oil & gasoline.

So it is pretty much impossible to have both a rapidly growing economy and low gas prices at this point. So no matter what, people will have something to complain about . . . a bad economy or high gas prices.



Now some economists among you are saying "That's wrong . . . just pump more oil!" But we just don't have any new easy cheap supplies of more oil. In fact we have been using more oil each year than we have been discovering each year for the past 20 years. The only way out is to find substitutes . . . and we've been trying for some 40 years now. It is very very hard since oil is magic treasure . . . an extremely energy dense substance that you just dig out of the ground.

 

[Dreams-Visions]

Obama is toast, the economy will be his downfall.

If he had a decent challenger, many would agree.

 

[Puddles]

I spent a week looking and was able to jump to a new job in my sector in only two weeks, so it's definitely possible.

Awesome, you picked the right sector.

 

[Zaraki_Kenpachi]

Most of the people I graduated college with (I'd estimate at least 75%) have moved back in with their parents. I still live at home and I work two jobs.

Over 75% of college graduates moved back with their parents? Do you have any proof of this because that's one hell of a statistic to just make up.

If I don't have a real job by Nov, I'm voting Romney. I didn't vote for Obama last election for the same reason.

You didn't vote for Obama in the first election due to him not lowering the unemployment rate? What?

 

[Kinitari]

When you can tell what someone's political affiliation is just by reading a single sentence on the internet, you know there's something terrible wrong with them.

What if that sentence is "I am a [political affiliation]"?

Over 75% of college graduates moved back with their parents? Do you have any proof of this because that's one hell of a statistic to just make up.

It's 80-85% according to some links - post 23.

 

[planar1280]

regardless of unemployement rate if people get more work, they will vote Obama in.

 

[idlewild_]

75%? What college did you go to? I don't know, to me that figure points more to the quality/skills of the individual than any kind of economy. Maybe your college class wasn't that bright?

I am not sure what is wrong about living at home. I live with my parents since my work is about 5min away from their place. It's not because I cannot afford to live on my own, I could get along quite comfortably with my own place, and I know that lot of my friends are in the same situation. Our parents enjoy having us around and we get to pay off any college loans we have, buy cars, save up some money, etc. for a couple years before moving out on our own. It is pretty much a win-win for everyone involved.

 

[SnakeswithLasers]

I spent a week looking and was able to jump to a new job in my sector in only two weeks, so it's definitely possible.

I'm relieved that my worries about the economy have been undone by your anecdotal situation!

 

[ElectricBlue187]

I always take it to mean "I'm just going to sit on my butt and leach off unemployment as long as i can. and when that goes away I'll live at home and leach off whoever else i can."

I always take these posts to mean: "I have never had to survive on unemployment in my life and know absolutely nothing about what it means to do so"

 

[Zaraki_Kenpachi]

What if that sentence is "I am a [political affiliation]"?




It's 80-85% according to some links - post 23.

Damn, that's pretty interesting then if it's that high. Holy shit. I wonder of the idea of living with parents like in other countries will become more normal in the US again?

 

[SnakeswithLasers]

I always take these posts to mean: "I have never had to survive on unemployment in my life and know absolutely nothing about what it means to do so"

Being unemployed is totally sweet man. You just hang out at home all day and live it up with your extravagant refrigerator and microwave.

 

[Something Wicked]

The UE number won't determine whether Obama gets a second term. If by Nov people feel they can go out into the job market and find a decent to good job in a reasonable time frame, Obama wins re-election regardless of where the UE number is at.

Touting the UE number as a negative when >200K jobs are being created is a loser's strategy.

More like if people living in Ohio, Wisconsin, Michigan, Pennsylvania, Virginia, North Carolina, Florida, Nevada, Iowa, New Mexico, Missouri, Colorado, and New Hampshire feel they can go out into the job market and find a decent to good job in a reasonable time frame.