Unemployment Rate Tumbles!

I was just listening to ABC World News and they said the unemployment rate in American has dropped from 9.0% to 8.6%. This is the lowest it has been in 2 years! Do you think this is a sign of life in the American economy?

I think this is fantastic. This is just what the world needs, a morale boost. Even though morale alone cannot stop economic downturns, it certainly helps. For once, I'm actually looking forward to the future!

Yeah it looks like the American economy might just be getting better. It seems like jobs are finally returning to America.

Actually it probably could.

Wouldn't it affect how investors invest in stock?

Well one of the biggest factors that determines the economic climate is consumer and business confidence. When people are confident that the economy will do well, they are willing to spend instead of save. It's like a self-fulfilling prophecy.

Our unemployment went up to 7.4% because we lost a lot of part-time jobs.

Does the new number reflect those that are not counted when the U.S. government puts out the national employment numbers?

Those not actively seeking employment are not considered unemployed for the same reason that the elderly, children, and disabled are not considered unemployed. It's not a move to save face, it's just the way that unemployment is calculated.

Well it's definitely a great thing that the unemployment rate as drop. So at least it shows hope of life in the US sconomy.

Its a good thing I finally got another job.

It's made up between people getting seasonal jobs for the holiday season and people just giving up looking for work.

It's not getting better.

I'm pretty sure that I saw the same broadcast as you did. Are you sure that you didn't leave out the other half of the report? The not-so-good-news half?

Wait this is was recorded after the beard thing was posted right?

There by FACIAL HAIR HAS BEEN CURING THE ECONOMY!!!!!!!!

I knew I was taking a break, but this kind of bugged me -http://rt.com/usa/news/rate-unemployment-percent-labor-899/ Basically, the government is only counting people actively seeking jobs. The true unemployment levels are closer to 15.6%, which is a two year low. So.. Yeah.

Edit: Which is worse than it sounds, because 360'000 people have given up looking for jobs in the last month alone.

As I already stated, those who aren't actively seeking work are never (and SHOULDN'T) be counted as unemployed. The pool of labor/workforce does not include people who have no intent to find a job, and it shouldn't.

Well they don't have a job, so why shouldn't they? They should have a job and be working, but instead they have just given up hope of ever(or at the time) finding a job. Now what does that tell you about the capitalist system where perfectly healthy and capable adults can't get a job.

Because they aren't a part of the workforce. You can only be unemployed if you're a part of the workforce, which means you're either working or seeking a job.