| The weekly numbers for initial jobless claims were | | | | employment level is rather conservative when |
| released today showing a "better than expected" | | | | compared to this figure. What this means is that |
| number of "only" 432,000. The "better than | | | | the 432,000 lost jobs must be increased by at |
| expected" part of this number is because the | | | | least 150,000 to give an accurate picture of how |
| average estimate by a group of leading | | | | our economy is performing - falling behind by |
| economists was for this number to come in at | | | | 682,000. |
| 460,000. Either way, these negative numbers are | | | | There are other components of the |
| not good, and worse yet, they don't paint an | | | | unemployment statistics that are meant to |
| accurate picture. | | | | provide a better overall picture of our economy's |
| The initial claims report is the number of people | | | | employment, such as the continuing claims |
| who claimed unemployment for the first time this | | | | number which attempts to keep track of the |
| past week. In other words, 432,000 people lost | | | | total number of people unable to find work. This |
| their jobs for one reason or another during the | | | | number is similarly understated because we can |
| week of Christmas. What this number misses is | | | | only track the number of people who are in the |
| the how many people "came of age" during this | | | | initial 26 week unemployment cycle. All those |
| week, but have not yet become employed. By | | | | people who could not find work in that 6 month |
| this I mean the total number of people in the | | | | period stop being counted whether they find |
| country who turned 18, and are now considered | | | | employment, or not. Worse again is the distortion |
| adults. Not all of these people will be looking for a | | | | caused by the recent extension of unemployment |
| job right away, but the vast majority will need | | | | benefits. The good news is that folks looking for |
| employment in the near future, even if that is | | | | work, but not able to find it are being subsidized |
| after they graduate from college. | | | | beyond the accepted 26 weeks, but the bad |
| The bottom line is for our economy to maintain a | | | | news is that the unemployment figures do not |
| level of employment, and keep up with population | | | | continue to account for them as unemployed. |
| growth, whether that be 90%, 95%, or any | | | | They just "disappear" from the ranks of the |
| other number, we must actually Create jobs, not | | | | unemployed. |
| limit the number of job losses. Consider the fact | | | | I don't mean this article to be as much of a |
| that our country has approximately 325 Million | | | | downer as most will think, but rather to raise |
| people. If population growth were limited to 1% | | | | awareness of just how big the task at hand is. |
| that would be 3.25 million new citizens each year. | | | | Until we are given more accurate information, it |
| 3.25 million divided by 12 months is over 270,000 | | | | will be near impossible to create a comprehensive |
| new mouths to feed every month. The 150,000 | | | | plan that has a chance of success. |
| new jobs necessary to maintain a stable | | | | |