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The Job Market Takes a Snow Day

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Posted on Feb 4, 2011
Wikimedia Commons

Bad weather put a damper on hiring in January as the U.S. economy added just 36,000 jobs. Still, the unemployment rate dropped to 9 percent from December’s 9.4 percent, but that may be because many job-seekers simply gave up looking. —JCL

The BBC:

US unemployment fell in January to 9% from 9.4% a month earlier, the Department of Labor said.

It is the second such monthly fall, after unemployment fell from a rate of 9.8% in November.

But despite this, the number of jobs created, at 36,000, was far below the expected 140,000.

The poor figure may have been due to blizzards during January, which are thought to have kept many workers at home.

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By surfnow, February 7, 2011 at 9:10 am Link to this comment

Total BLS propaganda. It wouldn’t have mattered if it had been 70 degrees from Maine to California all through January, the unemployment is the worst kind- structural- and that ain’t going away with the warmer weather.

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By TheBrix57, February 5, 2011 at 11:24 am Link to this comment

Quite funny when the statistical numbers don’t add up and everyone is scratching their heads wondering why?
The official unemployment rate is derived from the numbers of people filing for and receiving government benefits for help with their loss of employment, for a set number of weeks. As one can see, there are many problems with this number as the requirements are inclusive. Remove one of the requirements and a person is no longer counted.
For years upon years this was how the unemployment rate worked and there was never any need to change it, because it was close to being real. Today, we are finding that this official number is off greatly due to the fact that one or two of those requirements are not being met. One is the number of weeks allowed is not able to sustain those unemployed. There is not a continuity from one program to another, as there may be a gap of weeks. Part-time work knocks a person off being counted. Delays in reporting may be another.

Perhaps, it is time to take another look at the U-3 report that makes it the official number of the unemployed in America. Perhaps using the U-6 buried a little further down the table and containing more guesswork. Something does need to be done instead of ignoring those unemployed and underemployed and hoping they go away.

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