Unemployment Rate ‘Conspiracy’

“The US unemployment rate fell to 7.8 percent last month, dropping below 8 percent for the first time in nearly four years and giving President Barack Obama a potential boost with the election a month away The rate declined from 8.1 percent because the number of people who said they were employed soared by 873000 — an encouraging sign for an economy that’s been struggling to create enough jobs. The number of unemployed Americans is now 12.1 million, the fewest since January 2009…”.* How are conservatives spinning this against President Obama and in favor of 2012 Republican Presidential candidate Mitt Romney? Cenk Uygur and Ben Mankiewicz discuss on The Young Turks. *Read more here from Christopher s. Rugaber / Yahoo: finance.yahoo.com Support The Young Turks by Subscribing bit.ly Like Us on Facebook: www.fb.com Follow Us on Twitter: bit.ly Buy TYT Merch: theyoungturks.spreadshirt.com Find out how to watch The Young Turks on Current by clicking here: www.current.com
Video Rating: 4 / 5

This video introduces the economic definition of unemployment and shows how to calculate the unemployment rate as well as a few other related statistics. It also gives a few reasons why the typical measure of unemployment can understate the true rate of unemployment. For more information and a complete listing of videos by topic or textbook chapter, see www.economistsdoitwithmodels.com For t-shirts and other merch, see www.economistsdoitwithmodels.com By Economists Do It With Models www.economistsdoitwithmodels.com Facebook www.facebook.com Twitter: www.twitter.com
Video Rating: 4 / 5

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44 Responses to “Unemployment Rate ‘Conspiracy’” Subscribe

  1. savgal1211 February 11, 2009 at 6:00 am #

    Shadow stats has the TRUE Numbers.. You assholes that elected Obama?? You haven’t seen BAD, not yet.. I am DONE helping inner city food banks, Oh, I used too.. 90% blacke elected this sorry ass president? OWN IT.. You are useful idiots, and Obama is now DONE with you Blacks and sorry ass PROGRESSIVES.. OWN IT!! Starve, OWN IT!! Waiting in line 20 hrs for a voucher for your heat? OWN IT, Your kids, too! “Oh the children” Hey, if YOU didn’t care if your kid starves? Why should WE!!

  2. Ryan G February 11, 2009 at 6:41 am #

    Prove it

  3. bmwz3m1 February 11, 2009 at 7:22 am #

    The unemployment rate for first-time unemployment last week was 439,000. But you only know this if you watch Fox news

  4. DottiHaremaid February 11, 2009 at 7:44 am #

    The second coming is the biggest scam in all of human history… It’s easy to enslave the world and control lazy people when they are “hoping” and “waiting” for a savior.

  5. goonsauce February 11, 2009 at 7:49 am #

    Nope. According to the Bible, God prophesied that the Jews would return to Israel. Look up the Christian Zionism movement on Wikipedia. (Glenn Beck is a Mormon Zionist btw)

  6. Rensune February 11, 2009 at 8:41 am #

    I’m Christian. Last I checked Second Coming happens during the Apocalypse.

    Isn’t that all the more reason to make sure they don’t control Israel?

  7. goonsauce February 11, 2009 at 9:17 am #

    Two reasons. Ron Paul wants to get out of Israel. Jewish people control a big part of the media. Hence Ron Paul gets no attention. Another reason; Republicans are Christians and according to the bible, the Jews must be in control of Israel for the Second Coming to occur. (or something along those lines)

  8. pinki123666 February 11, 2009 at 9:49 am #

    Did the captioning in this video distract anyone else? Whoever was interpreting this must have either been a child or someone from another country…

  9. Craig S February 11, 2009 at 10:20 am #

    Our production company is casting an episode on long-term unemployment for a major news network. Seeking a family with one parent out of work long-term. Family should also have adult, college or trade school educated children living back at home because of the tough job market. If this describes your family, or if you personally know of a family that might like to help bring this important subject closer to the public consciousness, please email me.

  10. Rensune February 11, 2009 at 10:55 am #

    It’s Called U1-U6. Look it up.

    And the GOP doesn’t want to win. If they did they wouldn’t have blatantly shafted Ron Paul.

  11. boogz knuckle February 11, 2009 at 11:31 am #

    So the unemployment rates haven’t changed because the people’s unemployment insurance has ran out of money , your benefits have been exhausted

  12. boogz knuckle February 11, 2009 at 12:06 pm #

    Of course the unemployment rates have dropped dramatically thats because Many people are unaccounted for in the unemployment rate count since they have exhausted every single penny from their unemployment insurance claims and don’t qualify for benefits . That’s why there has been a mind boggling increase in people seeking some form of government assistance in form of food stamps, medicaid and or rental assistance .

  13. tubeinaredcircle February 11, 2009 at 12:44 pm #

    Wow, this will be the first time I have EVER voted AGAINST a candidate. But it’ll be sweet, to place a vote against LYING ASS Romney!

  14. AssifiedB February 11, 2009 at 12:51 pm #

    The fucking next day after Obama got his ass whooped in the debate.. Employment rate goes down gtfo here fucking Obamatards

  15. Zac6230 February 11, 2009 at 1:11 pm #

    It only dropped because they left CA out of the calculations, oh yeah and the BLS guy is a huge Obama donor. Unemployment has not changed bot for a second

  16. jrjr18181 February 11, 2009 at 1:31 pm #

    Obama has never reduced the Unem rate he inherited.

    well done Obama!!!!!!!!!!!!!!!!!!

  17. Joe Sanchez February 11, 2009 at 2:30 pm #

    you have got to be a complete moron to not know how to get this ecomomy going.  i could have had us out of trouble 3.5 years ago

  18. ILUVJEZUZ94 February 11, 2009 at 2:55 pm #

    A lot of people do not want to face reality, The reality is that Barack Obama and Mitt Romney are basically the same people, and they both grew up in democratic/liberal states. Have you read the book 1984 by George Orwell.. We are living in the fucking the Fucking Matrix…. Back in the early 20′s Newspaper and journalists created fake wars just to get their ratings up… Nothing has changed…. We do not have democracy in America anymore…. its all a big joke….

  19. CoffeeWithAGeek February 11, 2009 at 3:45 pm #

    This just in:

    Romney and Obama Secretly Same Person

    Oh SHIT.

  20. AquarianAmethyst92 February 11, 2009 at 4:42 pm #

    to* sorry for blowing up your inbox with corrections, but that random t bothered me.

  21. AquarianAmethyst92 February 11, 2009 at 4:54 pm #

    You sir do speak the truth, but to be fair, this isn’t the first time TYT has gotten their “facts” wrong, so i’m not surprised they would get something wrong this time. I’m just going t strike that out as pure stupidity, you should listen to the rest they said and target something there.

  22. kerrywsmyth February 11, 2009 at 5:10 pm #

    I like how he looks down when he says “created by george bush and the republicans. Those are facts” because even tyt himself knows how dishonest that is. The truth is that the real people running the country during the “lame duck session” are congress. From 2007-2011 democrats had control of both the house and senate. THOSE ARE FACTS, not the lies tyt tells you.

  23. AcademiaCondorcet February 11, 2009 at 5:57 pm #


  24. schackmountain February 11, 2009 at 6:52 pm #

    unemployment actually is a win for a society. i can explain why if someone wants to know.

  25. jojo momo February 11, 2009 at 7:44 pm #

    HEY OBAMA SUPPORTERS TRY THE BEST YOU CAN TO PROVE ME WORNG obama helped bail out wall street when he was a senator with TARP(700 billion banker bailout) he appoints wall street in his cabinet for example secretary of treasury timothy geithner ceo in wall street and get millions in contributions from wall street banks(same as romney) he takes aways your rights with NDAA and arms al-quedia in syria and killed 30,000 in libyan invasion with NATO

  26. Magik0722 February 11, 2009 at 8:08 pm #

    freudian slip?

  27. Michael Flores February 11, 2009 at 8:26 pm #

    8.1 % unemployment decrease to 7.8% is without a doubt the best one thirty day period bounce in job creation in 30 years. The last period there had been a jump just like this the economy was in fact increasing around 9.2%. Right at this moment, it is actually 1.3%.

    Right now there were 114,000 job opportunities created last 30 day period. It would need approximately one million positions in order to really fall down
    as much as we did last month.

  28. apostle dave February 11, 2009 at 8:50 pm #

    Is this a true statement : If one wanted to make the unemployment rate (high/low) it can be manipulated (for whatever reason) by adj the number (up/down) in the reported “work force” total.
    In conclusion: 60k and a few other numbers while a indicator. It seems that the Population to that number (60k) even with 5 other inputs….well it seems off in too many ways to mention.I feel the Gov numbers are political regardless. DO you know of a Non-corrupted source we can use for better numbers? thks

  29. kfcwfd February 11, 2009 at 9:48 pm #

    thank you so much and your hot lol

  30. sfjeff1089 February 11, 2009 at 10:21 pm #

    … total standard of living would be 3 * 3 + 3 * 12, and the standard of living for the average worker would be 3 bushels. If the workers unionized to get more food, they could increase their pay up to 8 bushels without causing shortage (3 * 8 + 3 * 12 = 3 * 20, which we saw was production). If you want to increase standard of living further beyond that you have to increase production efficiency, which some economists mistakenly refer to as the only way to increase standard of living.

  31. sfjeff1089 February 11, 2009 at 10:46 pm #

    You can see that total consumption and therefore standard of living will be 27 bushels of food. 3 * 3 + 3 * 6, taking advantage of our knowledge that the bosses are satiated.

    In this case, if you increase productivity by 50%, it will have no impact on standard of living, but increasing pay by up to 100% will add a corresponding standard of living increase. If they come out with a fourth, fifth, and sixth goods, so satiation hits 12 bushels, rather than six, then …

  32. sfjeff1089 February 11, 2009 at 10:57 pm #

    Actually, output per worker is not exactly what determines the standard of living in the economy. The correct expression is output per non-satiated worker times the fraction of that output representing their pay plus a constant term representing consumption of those with enough pay to be satiated. To see this, imagine you have an island with 3 bosses, 3 workers. Each worker creates 20 bushels of food, gets paid three bushels and requires 6 bushels to be satiated.

  33. AsemOla February 11, 2009 at 11:32 pm #

    will you marry me?

  34. crankspider101 February 11, 2009 at 11:47 pm #

    I’m not a fan of macro either; micro is so much more fun. And I love behavioral economics!! I’m working on getting a research grant to study behavioral economics in the business firm – primarily why people will give up salary for status. Have you ever read Choosing The Right Pond by Robert H. Frank? It’s a fun read and inspired me to pursue my research.

  35. jodiecongirl February 12, 2009 at 12:21 am #

    My students at Northeastern are great, so it’s pretty fun. But I still am not a macro person. :) (I teach graduate Macroeconomic Theory and Behavioral Economics.)

  36. crankspider101 February 12, 2009 at 12:58 am #

    Well congratulations! That’s very prestigious. How do you like Northeastern? I’ve been tutoring principals of economics at NYU and while the micro program is strong, the macro is weak. I will ask around and see what kids are having a hard time with, though. I think an interesting topic is the housing market boom & crash. The subprime mortgages complicate the issue, but it’s a fun way to tie the concepts together! (I use it as an example for the micro students with great results).

  37. jodiecongirl February 12, 2009 at 1:16 am #

    Please do! In the interest of full disclosure, I used to teach at Harvard and now teach graduate students at Northeastern University. I am also working on getting new videos up as soon as possible- is there anything in particular that you think would be helpful?

  38. crankspider101 February 12, 2009 at 1:25 am #

    You do a much better job explaining these concepts than my professor at a top tier school. I’m sending everyone who is having trouble in that class to your videos. On behalf of my peers, thanks!

  39. usafwolfman February 12, 2009 at 2:12 am #

    Love your videos! Quick and easy.. What are your views on an estimated “true” unemployment rate + discouraged worker rate? Also, adding 1) % of students beyond their initial degree who (in a normal economy) have a job and still continue education; 2) people who are no longer counted because they used up all of their benefits but would work; and other groups that the left or right use to hide a true employment rate.

  40. TheArfdog February 12, 2009 at 2:48 am #

    lol. Or maybe just whenever a significant headline comes out that you want to break down.

  41. jodiecongirl February 12, 2009 at 3:06 am #

    I’m working on it. Ideally, I want to do a weekly video that talks about the week’s economic headlines. I just have to figure out how to make it portable enough so that I can commit to putting one out each week. Maybe I’ll just do it with the video camera on my iPad or something.

  42. jodiecongirl February 12, 2009 at 3:31 am #

    Thank you!  :)

  43. TheArfdog February 12, 2009 at 4:02 am #

    Maybe make a video on current events? Maybe about the last unemployment number of January, seeing as it made headlines. What does it mean for the economy? Are policies working?

  44. TheArfdog February 12, 2009 at 4:20 am #

    Nice straightforward, concise explanation. You’re so good.

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