What do you think about the latest jobs data?

@ram_cv (16516)
India
October 7, 2012 10:45am CST
The latest jobs data says that there are more people working now than when Obama took office. And Obama camp is gung ho about it. On the other hand, Romney camp is pointing out some basic realities of these numbers. These include the part time jobs as well. Also, maybe finally the Americans are now grabbing at any job that they can get rather than being picky and choosy about their jobs as four years ago. So what is your view on this jobs data that has come out? Do you think the situation is much better than when Obama took office? Cheers! Ram
2 people like this
7 responses
@adforme (2116)
8 Oct 12
I guess it is relative to your employment status. Statistics are quite interesting. I hope that the numbers are working to your favor. At the end of the day, I guess it is all about the who, what, how, when, and why; regarding the collection of the data. I independently contract for the most part. I guess they are considering independent contractors more. Who knows?
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@ram_cv (16516)
• India
12 Oct 12
Hmm... So the exact premises of this survey is not clear as to what is considered employment and what is not. Cheers! Ram
@adforme (2116)
12 Oct 12
That is the case in my opinion.
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@laglen (19783)
• United States
8 Oct 12
For the last three years they have released jobs data then revised it to something completely different. It is simply a red herring. The numbers do not add up and I guarantee you that in a week, those numbers will change drastically.
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@bobmnu (8160)
• United States
8 Oct 12
The first thing to note is that almost every month the numbers have been revised upward. If you study the numbers one thing that becomes apparent is that the number in the work force is declining and the number of people collecting unemployment payments is also declining. For example if you have a work force of 1,000,000 people and 82,000 are unemployed you have an unemployment rate of 8.2%. The next week you have 2000 people stop collecting unemployment and they are removed from the calculation. You now have 80,000 people unemployed out of a workforce of 998,000with a rate of 8%. This is an overly simple example but when you figure that the economist who figure these statics make decisions based on their estimates. How many new people entered the job market. For example a college graduate who is looking for a job but working part time at McDonalds is not counted as unemployed but as employed. As a student he was not counted in the employment pool but no is and employed so this will also make the unemployment rate down. As you can see it is a very complicated number to figure out and if you estimate a number too high or too low you change the numbers. The best way to explain it is how mark Twain explained it. Statics never lie and liars use statics.
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@ram_cv (16516)
• India
12 Oct 12
:) Good points. I remember that saying about statistics "Statistics are like mini skirts, they reveal a lot, but hide the most important parts." :) Cheers! Ram
@debrakcarey (19925)
• United States
8 Oct 12
The numbers were cooked to make it look good for Obama. Fact is when people stop receiving unemployment they 'disappear' from the official numbers and therefore the stats. Most of the jobs added are in low wages jobs, part time jobs or government jobs. Obama is desperate. And his 'machine' is desperate to keep him in office.
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@ram_cv (16516)
• India
12 Oct 12
Hmm... so you feel that the American public are now resigned to take up low wages jobs to keep their homes running. And that is pushing these numbers up? Cheers! Ram
@riyauro (6433)
• India
8 Oct 12
yeah that is a good sign though but yeah are they really the correct result?? There are so many things happening so can't be so sure. Thanks for sharing and have a wonderful day ahead.
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@ram_cv (16516)
• India
12 Oct 12
Exactly the point. Is it really good news? Or is it just packaged as a good news? There seems to be a lot of suspicion on these numbers. Cheers! Ram
• United States
8 Oct 12
I don't follow political things and if I do it is from changing the channel on the t.v. and just listen to less that five minutes of it. I thik when I was in my teens and early 20's I made more money then then I ever did at my age now. There is not a lot of jobs in my area and if there is it is a very low paying one. I I don't think Obama has done anything at all. That is just my opinion
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@ram_cv (16516)
• India
12 Oct 12
Hmm. So you think that Romney can do better justice to the current situation than Obama? Cheers! Ram
@stary1 (6622)
• United States
7 Oct 12
ram_cv I see positives from both camps. No doubt the psychological boost in seeing numbers under 8% is a positive even if there are still tremendous problems. Even if things are a little better, according to some they should be a whole lot better. That's the porblem for me..who to believe...each side will slant. Do we rely and accept when Obama says he did a good job because things could have been worse...or do we believe the Romney camp in saying things should have been much better and Obama failed to lead....
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@ram_cv (16516)
• India
7 Oct 12
Exactly, at this moment it is not clear whom to believe entirely. But you are right at this moment, the economy would cling to any good news it can cling to. Cheers! Ram