For me – I ain’t buying the 8.3% unemployment rate released last Friday.

Reblogger Wallace S. Gibson, CPM
Property Manager with Gibson Management Group, Ltd.

I agree * the FoxSnooze folks on the Kirby couch are some of the FEW who are actually delving into how these %s are calculated.

When you are OUT or UNDERemployed, your UNEMPLOYMENT is 100%

Original content by Ed Newman

us unemployment rate incorrect


For me – I ain’t  buying the 8.3% unemployment rate released last Friday.


There are 140M working people in the US and a 10% UER would mean 14M out of work


Last Friday’s monthly UER was 8.3% or 11.6M out of work. There are 4M that have left the workforce, given up, no longer looking for work and are not counted any longer in the unemployment (UE) figures. If those 4M were to jump back into the “actively looking” for work, if you added those folks back in – divided by the number of people in the work force it would show about a 12% UER.


Are they playing around with the numbers? It’s the “Bureau of Labour Statistics”, it’s supposed to be non-partisan, but it is the Dept of Labour --- Hilda Solis - - who works directly for Obama….Not Saying Anything. There is room for error, but not that much


How about the $20/hour people who are at least working somewhere for $12/hour until they get what they want – the “under-employed”. Add them into the equation and we may have an under-employed rate of closer to 20%  



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Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Wallace.  Unemployment numbers are so manipulated just like COLA numbers are.

Feb 05, 2012 11:42 PM #1
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Those who are small biz ownersm such as RE agents that go out of business do not collet unemployment and THUS are not counted.

Feb 05, 2012 11:44 PM #2
Jamie R. Bell
Coldwell Banker Residential Brokerage - Glastonbury, CT
GRI Your Central CT Realtor

Wallace great points! And I completely agree. They also don't count self-employed in the UER or your category under employed! It's tough and could getter tougher. If this continues our market will just drop more because of the foreclosures, etc. I hope someone can make a change soon that counts soon!

Feb 05, 2012 11:49 PM #3
Edward Gilmartin
CRE - Boston, MA

I agree 100%...headlines on Drudge read Unemployment down to 8.3%  243000 jobs created...1.4 million workers disappear.

Feb 05, 2012 11:54 PM #4
Charlie Dresen
Steamboat Sotheby's International Realty - Steamboat Springs, CO
Steamboat Springs, CO e-Pro

It's an election year so get ready for numbers to be spun in many different ways to tell the story, prove the point or make somwone look bad as needed. I find the 8.3% unemployment rate to be a little unbelieveable too.

Feb 05, 2012 11:55 PM #5
Emily Medvec Qualifying Broker
Hello Realty Partners - Santa Fe, NM
Realtor | Serving Santa Fe & Northern NM

Wallace, the numbers are beyond political. The BLS only counts unemployment claims. Imagine what the numbers would be if there was something as simple as an online survey. It is unfortunate the 2010 census did not even approach asking those questions. Everything tends to be different from inside the beltway.

Feb 05, 2012 11:55 PM #6
Than Maynard
Coldwell Banker Heart of Oklahoma - Purcell, OK
Broker - Licensed to List & Sell - 405-990-8862

I said the government will do everything they can to spin in Obama's favor. We will here nothing but good news until the election, no matter how they have to spin it.

Feb 06, 2012 03:11 AM #7
Mike Frazier
Carousel Realty of Dyer County - Dyersburg, TN
Northwest Tennessee Realtor

All we will get here on out is good news until after the election. I don't believe those numbers for one second!

Feb 06, 2012 03:31 AM #8
Dale Terry
Yadkinville, NC

Unemployment is actually up, more businesses closing(Wall St. dumping rental space), growth figures are at or close to recessionary, savings going down again,interest rates at zero percent for two more years.  What part of the economy sucks does Obama not get?

Feb 06, 2012 05:04 AM #9
Karl Hess
Keller Williams Shore Properties - Barnegat, NJ
on The Jersey Shore

Is that a picture of Larry, Moe and Curly on your blog? that I look closer it's the Fox and Friends folks...and they've made up some much bs it's difficult for me to take anything they say seriously. (I wonder what they'd be saying if it was a Republican in the White House)

Feb 06, 2012 10:41 AM #10
Edward Gilmartin
CRE - Boston, MA

Fox beat up on Bush quite a bit when he was president. There is no question that the major Networks are firmly in the Obama camp which is not the way news should be reported.

Feb 06, 2012 10:47 AM #11
Yolanda Hoversten
Berkshire Hathaway HomeServices Elite Properties - O'Fallon, IL
Broker - O Fallon, IL Real Estate

Hi, Wallace - could this be the result of the New Math introduced way back when?

I don't happen to watch Fox, whether the news or the opinion programs regularly. But when I tune in on occasion, they seem to have very good attitude and vibes, and happy. So unlike other news network who are belligerent and belittle their guests who aren't stooges for Obama.

Mar 18, 2012 10:21 AM #12
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