Do the jobless numbers really reflect whats going on?

from the news this morning:


WASHINGTON - The number of newly laid off workers filing for unemployment benefits unexpectedly fell last week to the lowest level in a month.





I have to wonder at these numbers as they do not take into account people who once ran their own small business or those for have been of the rosters so long their benefits have run out... not to mention those who never bothered to apply in the first place....





so my question is can this number ever be accurate?Do the jobless numbers really reflect whats going on?
The ';initial jobless claims'; is probably the best number that tells the story of employment in the US. There are 5 criteria that have to be met for a person to be counted: (1) worked for one year, (2) not fired for cause, (3) no physical or mental hindrance to work, (4) is available for work, and (5) is actively looking for work. - Only (5) is a little troublesome, because this factor kicks people out who got laid off and who are not looking for work. For example, older employees may not even bother to look for work. Those guys are not counted.





This number is still better than the unemployment rate, which only takes people into consideration who are looking for work. Anybody at any age who is discouraged and does not look for work is excluded, which makes the number look better than it should be.Do the jobless numbers really reflect whats going on?
No. It's not accurate. It's a guideline at best but it seems almost useless at this point. It has been for many years because of prolonged unemployment. Some people give up or take jobs that are different and pay less. I suppose it's better than nothing but we need another measure. It's long overdue. But it's in the government's interest to keep inflation and unemployment low. They have big incentives to do so. Remember that.
When you start having the unemployment raise that means that all business are downsizing which means less hours to be worked and there for less monies to be made this is a very scary situation to be in.
It is what it is - just one measure.