Understanding the unemployment rate
Keith Srakocic/AP
In this Tuesday, July 10, 2012 photo, people walk by the recruiters at a jobs fair in the Pittsburgh suburb of Green Tree, Pa. The number of people seeking unemployment benefits plunged last week to the lowest level in four years, a hopeful sign for the struggling job market. But the decline was partly due to temporary factors. (AP Photo/Keith Srakocic)
and last updated 2021-06-03 12:14:56-04
TAMPA, Fla. â As economists and government leaders look for a full recovery from the pandemic-caused economic downturn, unemployment has taken center stage as everyone looks for data to back up their claims. But unemployment and the economy aren t as simple as one number each month.
months? yeah. well i guess that you sort of multiply by two or by three. the bottom line is that there s a strong incentive for the two sides to get together. you know, gm has a profit-sharing plan that s dlirched that s a lot. you re saying it could shave a percent off economic growth. if we were to go a whole quarter with this mess, i mean we re talking many, many it could spread because what happens is the guys who make spark plugs, they tell their workers not to come in because they don t have a place to put the spark plugs. the gm strike is a very, very big deal. you know, i think that everybody s looking for the two sides to come together. i don t think that they re as far apart on money as you might think. i think that there s the big issue about moving some stuff from mexico to the u.s., but i think in the end they re going to work that out. that s a big there s so much money at stake. that s a big issue. let me dig in with you if we could to pennsylvania and
the bls numbers from june 2018 are down. these are the most vulnerable workers. while the tax cuts is lined the pockets of ceos and executives in corporate america and shareholders in the buybacks, those who need it most are getting lower. i run into people, well, the tax cuts are working. sure, for some people. they re working really, really well. exactly the people we sat here for months telling people they were going to work for. they re not working for the forgotten american who thought that donald trump was going to get them a better deal. that s worth remembering. not yet. for the first time ever a top secret fisa warrant has been made public. we ll look at the document related to the fbi s wiretapping of carter page. we ll describe how carter page fits into the russia investigation then and now. still a chance here. it s willingham, edge of the box, willingham shoots. goooooooaaaaaaaallllllll! that.was.magic.
very large jobs number in the household survey is an outlier, it s unusual. these things happen. that number has a large margin of error around it. the bureau of labor statistics are very public about that. these are nonpoliticians, absolute bureaucratic government surveys is. that s the point. it wasn t that jack welch was raising a question or there was an outlier in the data, he argued, very clearly, that the white house had a thumb on its scale, entering a political bias into the print on the bls numbers. that s what he tweeted. that s what he initially tweeted. now he s come back from that and says he simply has questions. go ahead. that s an outrageous allegation and it s an allegation that strikes at the heart of a statistical agency with a tremendous amount of integrity. i ve worked at both the white house and the department of labor. the fire walls between them are extremely thick. the data processing, the analysis, the reporting are incredible rigorous and careful. th
actually does. he s absolutely right, that a very large jobs number in the household survey is an outlier, it s unusual. these things happen. that number has a large margin of error around it. the bureau of labor statistics are very public about that. these are nonpoliticians, absolute bureaucratic government surveys is. that s the point. it wasn t that jack welch was raising a question or there was an outlier in the data, he argued, very clearly, that the white house had a thumb on its scale, entering a political bias into the print on the bls numbers. that s what he tweeted. that s what he initially tweeted. now he s come back from that and says he simply has questions. go ahead. that s an outrageous allegation and it s an allegation that strikes at the heart of a statistical agency with a tremendous amount of integrity. i ve worked at both the white house and the department of labor. the fire walls between them are extremely thick. the data processing, the analysis, the repo