Fuzzy Math
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On Fri, 5 Aug 2011 09:41:45 -0400, "Eisboch" wrote:
I am not very good at math.
Can someone explain that how adding 117,000 new jobs/mo (good news) when
it
takes 157,000 or more/mo to keep up with the population growth causes
the
unemployment rate to *drop*?
Clearly. It's better than 18K jobs added or even a negative number. I
guess you don't remember the US bleeding 700K jobs per month during
the last part of the Bush admin/beginning of the Obama admin.
I understand that. I didn't understand how 117K/mo of new jobs lowered the
official unemployment rate if it takes at least 157K/mo of new jobs just to
stay even.
However, someone else gave a plausible explaination. The government only
counts
people who are actively looking for jobs. Those that aren't or gave up are
not
counted.
In other words : Fuzzy math.
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