Posted on 02/03/2015 9:26:37 AM PST by Kartographer
Here’s something that many Americans -- including some of the smartest and most educated among us -- don’t know: The official unemployment rate, as reported by the U.S. Department of Labor, is extremely misleading.
Right now, we’re hearing much celebrating from the media, the White House and Wall Street about how unemployment is “down” to 5.6%. The cheerleading for this number is deafening. The media loves a comeback story, the White House wants to score political points and Wall Street would like you to stay in the market.
None of them will tell you this: If you, a family member or anyone is unemployed and has subsequently given up on finding a job -- if you are so hopelessly out of work that you’ve stopped looking over the past four weeks -- the Department of Labor doesn’t count you as unemployed. That’s right. While you are as unemployed as one can possibly be, and tragically may never find work again, you are not counted in the figure we see relentlessly in the news -- currently 5.6%. Right now, as many as 30 million Americans are either out of work or severely underemployed. Trust me, the vast majority of them aren’t throwing parties to toast “falling” unemployment.
(Excerpt) Read more at linkedin.com ...
B I G lie.
ping
Right now, the U.S. is delivering at a staggeringly low rate of 44%, which is the number of full-time jobs as a percent of the adult population, 18 years and older.
We need that to be 50% and a bare minimum of 10 million new, good jobs to replenish America’s middle class.
Very much a lie. Nothing the media says is even near the truth.
When mentioning how bad the economy and employment situation in this country to my libinlaw,
she simply stated that it wasn’t bad,
basically because Obama said it isn’t bad.
I guess that just goes back to my previous tagline:
You can’t use facts and logic to argue someone out of a conclusion they didn’t use facts and logic to get into in the first place.
The white house is trotting out the old “labor participation rate is skewed because the economy is so great more people can afford to retire.” People believe these guys!
When Reagan lowered tax rates and loosened regulations on business a sizable percentage of Americans started and expanded businesses and became prosperous for the first time. The media published endless articles about “the shrinking middle class”.
/src on/But but out political class tells us there are worker shortages and the US need to import 30 MM foreign workers over the next 10 year (Gang of 8 bill)/src off/This is why I will never vote for an Open Borders candidate even if that involves sitting out 2016. Open Borders = War on Middle and Working Classes.
This whole administration has been one big lie. And how dare anything tell the truth in an age of lies!
I think a republican candidate could gain some traction by saying that they would return us to a previous method to calculate the unemployment numbers. I would think someone in the press would be curious enough to figure out what they are talking about.
People who collect unemployment compensation must certify periodically that they are actively searching for work, whether they are or not. If you don’t tell the lie, you don’t get your check. Needless to say, almost everybody tells the government what they want to hear.
As soon as unemployment runs out, there is no longer any requirement to lie in order to get a check, so people just stop lying. At that point, they are counted as having dropped out of the labor force because they have “stopped looking for work”. In reality, the only thing they stopped doing was lying about it.
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