Willisms
Navigation

Buy WILLisms

XML Feed
WILLisms.com on Twitter

WILLisms.com via email:

Delivered by FeedBurner



Featured Entries

The Babe Theory Of Political Movements.
Mar. 21, 2005 11:50 AM

Iran's Sham Election In Houston.
June 20, 2005 5:36 AM

Yes, Kanye, Bush Does Care.
Oct. 31, 2005 12:41 AM

Health Care vs. Wealth Care.
Nov. 23, 2005 3:28 PM

Americans Voting With Their Feet.
Nov. 30, 2005 1:33 PM

Idea Majorities Matter.
May 12, 2006 6:15 PM

Twilight Zone Economics.
Oct. 17, 2006 12:30 AM

The "Shrinking" Middle Class.
Dec. 13, 2006 1:01 PM

From Ashes, GOP Opportunities.
Dec. 18, 2006 6:37 PM

Battle Between Entitlements & Pork.
Dec. 21, 2006 12:31 PM

Let Economic Freedom Reign.
Dec. 22, 2006 10:22 PM

Biggest Health Care Moment In Decades.
July 25, 2007 4:32 PM

Unions Antithetical to Liberty.
May 28, 2008 11:12 PM

Right To Work States Rock.
June 9, 2008 12:25 PM



Donate





Links

Blogroll Me!







Search



Archives

August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006
April 2006
March 2006
February 2006
January 2006
December 2005
November 2005
October 2005
September 2005
August 2005
July 2005
June 2005
May 2005
April 2005
March 2005
February 2005
January 2005
December 2004




Social Security Reform Thursday.
January 29, 2008

Caption Contest Archive
Jan. 21, 2009

The Carnival Of Classiness.
Mar. 14, 2006

Quotational Therapy: Obama.
Apr. 4, 2008

Mainstream Melee: Wolfowitz.
May 19, 2007

Pundit Roundtable: Leaks.
July 9, 2006

A WILLisms.com(ic), by Ken McCracken
July 14, 2006




Credits

Powered by Movable Type 3.17
Site Design by Sekimori




WILLisms.com January 2009 Book of the Month (certified classy):











The WILLisms.com Gift Shop: Support This Site

giftshopbanner.gif











This Week's Carnival of Revolutions: carnivalbutton.gif



Carnival Home Base: homebase.gif

























Willisms

« Trivia Tidbit of the Day: Part 638 -- Slashing Taxes Across The Globe, Except America. | WILLisms.com | Trivia Tidbit of the Day: Part 640 -- Pork Was GOP's Undoing. »

Trivia Tidbit of the Day: Part 639 -- Tracking Job Numbers.

Matching Results To White House Predictions-

The nation's unemployment rate fell from 9.5% to 9.4% last month. How does that put us on the White House prediction scale:

WM2584_Chart1.gif
Another factor that will boost the unemployment rate in future months will be the fate of teenage workers. Teens accounted for a quarter of the decline in the labor force last month. July's jobs report was conducted before the minimum wage took effect. Therefore, it is likely that the job market for teenagers will be further weakened by the minimum wage increase. Teenagers already have the highest unemployment rate at 23.8 percent, which is more than double the national average.

It will be interesting to see how the recent hike in the minimum wage impacts job numbers. Hopefully, we are bottoming out and will see economic growth (and job growth) soon, but I am not optimistic about it. If it becomes clear that socialized medicine, card check, and cap & trade are dead and buried, we could see a serious rally.

-------------------------------------

Previous Trivia Tidbit: Cutting Taxes All Over-- Just Not America.

Posted by Will Franklin · 10 August 2009 10:18 AM

Comments

It is also interesting to note the impact of discouraged workers on the unemployment rate. I believe that around 350,000 workers left the job market last month which, if not accounting for that fact, would put the unemployment rate at 9.6-9.7%.

Those workers exist somewhere, they are just not actively seeking jobs right now. The recovery will be prolonged because of those workers that are essentially on the shelf will enter as soon as things start improving. Plus, the jobs market must create 150,000 jobs per month just to keep up with the current organic growth.

Despite the slight downtick in the unemployment rate, the net is that there are 250,000 fewer jobs last month, 150,000 more organic workers, and 350,000 fewer people in the jobs market because of discouragement. We have to create jobs for all of them before the rate will drop.

What is amazing is that the news media says we have "turned the corner" because the unemployment rate went down, yet we still lost over 250,000 jobs last month. Explain how you can lose jobs and have the unemployment rate drop without accounting gimmicks?

Posted by: Justin B. at August 10, 2009 11:03 AM