A lot of times when liberals and Dems try and refute the good economic news, they say unemployment statistics are based on those who are currently collecting benefits, and ignore those who have already exhausted their benefits.
Nothing could be further from the truth. According to the Bureau of Labor Statistics, the unemployment data the government prepares every month, including the unemployment rate, is based on household surveys of 60,000 households.
Here's the link to the appropriate page http://www.bls.gov/cps/cps_htgm.htm Read it for yourself, it's only about 1 page long.
2007-08-18 13:39:57 · 6 answers · asked by Uncle Pennybags 7 in Politics & Government ➔ Other - Politics & Government
Yep, I knew that.
Most people do not know, that only about 40% of the people who lose jobs, are eligible for unemployment benefits.
In some states like Florida, only 27% of the unemployed people are eligible for unemployment.
So it would be a completely unreliable means of determining the unemployment rate.
Most people do not understand, there is no government office that companies have to report too,when people are fired, laid off or quit.
There is no government office that companies report too, when they hire people either.
So the government has no direct way to accurately track unemployment or the new jobs created, or jobs lost.
Thats why the Department of Labor uses surveys to individuals for the unemployment calculations, and uses surveys to business's to determine how many jobs were lost or added each month.
Alot of myths like this, just keep going on and on, people never take the time to actually research it themselves and find out the truth.
2007-08-18 18:19:03 · answer #1 · answered by jeeper_peeper321 7 · 0⤊ 0⤋
There is also a statistic called the "Natural Unemployment Rate". For people betewwn jobs, or who are otherwise out of the current workforce. The baseline number since 1975 has been 4-5%.
2007-08-18 13:46:16 · answer #2 · answered by Ken C 6 · 2⤊ 0⤋
I know that there are /two/ commonly-reported unemployment figures. One is gathered from unemployment rolls. The other is a household survey. The survey tends to be a bit higher, for the cited reason.
2007-08-18 13:45:37 · answer #3 · answered by B.Kevorkian 7 · 3⤊ 0⤋
Yup, I did; now, if only we could get the press to report SIMPLE FACTS like this, perhaps the American public could begin to be informed as to how our society functions at a basic economic level. Anything above that will take an act of God.
2007-08-18 13:50:59 · answer #4 · answered by Fast Eddie B 6 · 5⤊ 1⤋
No, I did not know that. I believed that it was based on those who are currently collecting benefits. Thanks for the info.
2007-08-18 13:46:06 · answer #5 · answered by scarlettt_ohara 6 · 5⤊ 0⤋
No I did not know that. Thank you for the info!
2007-08-18 13:47:37 · answer #6 · answered by Anonymous · 5⤊ 0⤋