Sunrise And StatisticsPosted: November 3, 2012
Sunrise this morning. I see a lot of sunrises and sunsets these days.
“WASHINGTON — U.S. employers added 171,000 jobs in October and hiring was stronger over the previous two months than first thought. The unemployment rate inched up to 7.9 percent from 7.8 percent in September.” Link.
“than first thought?” Huh? I’m not sure I understand why “strong hiring” increases the unemployment rate.
“…a job market that is gradually gaining momentum…”
Momentum toward what?
“The rate ticked up because more people without jobs started looking for work.”
Most people looking for work are indeed “without jobs”.
“Investors were pleased by the news.”
Yes, I’m sure they were tickled pink. Huh?
“The government revised the jobs figures to show that 84,000 more jobs were added than previously estimated.”
If the “estimates” don’t look good, then just “revise” them. In essence, the unemployment rate is just a wildass guess.
“…the number of unemployed increased 170,000 to 12.3 million.”
Economic recovery! Strong hiring!
“If lawmakers can’t [reach a budget deal before January], sharp tax increases and spending cuts will take effect next year and possibly trigger another recession.”
They can’t help it. It’s not their fault. They’re doing the best they can. Don’t blame them.
There’s something about being unemployed that has always bothered me. Being a carpenter, whenever a project is finished, I’m out of a job. So I’m used to being unemployed. But being unemployable is different. Then the unemployment rate is a personal insult. If I can’t find a job, then I’m in the bottom 8% of the labor pool. Conversely, if the unemployment rate was 90%, and I had a job, well, I’d feel all smug and shit.
Posted by Dave