New Unemployment Rate - Are they checking the bones?

[Usui Takumi 1,562]

So today the unemployment rate changed from 10% to 9.7. Whats their methodology for this? Since November, frankly the numbers have been all over the place. Is it just hard to estimate around the holidays because of temporary work?

[Hilarious Clinton 452]

Some people have completely stopped looking for work.

[Usui Takumi 1,562]

Thats not whats being reported in this case however.

[Hilarious Clinton 452]

Not really sure

[Aubrey 10]

It also discounts underemployment -- having fewer hours than desired (PT instead of FT) or taking something below your abilities/outside one's field just to get by. And yes, temp work, too.

[Usui Takumi 1,562]

But again, todays recent numbers claim that underemployment fell as well. This is weird. I guess seasonal adjustments have just thrown the numbers out of whack.

Edited February 5, 2010 by Sousuke

[SMOKE 1,426]

But again, todays recent numbers claim that underemployment fell as well. This is weird. I guess seasonal adjustments have just thrown the numbers out of whack.

or they're cooking the books.

[I'm Gone 60]

http://wbal.com/apps/news/templates/story....82&zoneid=7

[Mr. Big Dog 10,747]

We're getting back into hiring mode - something that hasn't been the case since mid 2008. We've had a few jobs here and there that opened up but nothing really worth mentioning. We're now looking to grab a dozen or so bright college grads - which will start in Mar and Jul, respectively - and have another couple dozen or so positions opening up in the next few days. That's huge considering that we were essentially unable to hire for about a year and a half. So, decreasing unemployment numbers make sense from what I see in the microcosm of my company.

[Dan J 277]

it has to do with how its counted. Unemployment rate is counted by who is looking for work, and jobs added or lost is counted from company payrolls.

The unemployment rate by itself isn't a good measure, you have to look at all measures to try to get a picture of what is happening. Which is basically, we are no longer loosing jobs constantly, but new jobs are being created slowly.