Unemployment figures are so misleading

2 thoughts on “Unemployment figures are so misleading”

  1. Spot On! My guess is the real unemployment is closer to 17%, with two troubling stats, 1) it’s not going down.. it’s holding steady leading me to fear we’re going to have a jobless “recovery” although it’s hard to call it a recover when we’re all still looking for work or struggling to hang on to the jobs we have 2) Cutting expenses by offshoreing and outsourcing continues to make balance sheets look good and indicate we’re “doing better” which will cause us to not really do things we need to do to fix this mess we’re in.
    “Jobless recovery” is such a cruel oxymoron. For those without jobs, there’s no such thing as a recovery. And don’t get me started on offshoring, outsourcing, and the global economy. Shipping American jobs overseas while Americans remain unemployed is not doing America any good, and cavalierly telling the unemployed to “just retrain and take up another line of work” when they’re broke and unemployed is unworkable on many levels. It’s akin to saying “I’ve got mine; screw you.” Notice it’s always said by bosses, business owners, and theorists who are securely employed. I wonder how they expect unemployed Americans to buy all their foreign-manufactured products?

  2. Unemployment rates are comparative statistics. Their main purpose isn’t to provide exact numbers. They allow us to compare the current economic condition with those of the past. Since the calculations are done using the same formula, any comparison would still be valid even if the numbers are inaccurate.
    You and I understand that. But it sure doesn’t get reported that way. And when pundits start raving about unemployment numbers, I often think they don’t really understand either.

... and that's my two cents