The trend nationally is still losing jobs. I’m befuddled how the nation can lose hundreds of thousands of jobs while the jobless rate ticks down a tenth of a percent.
It’s the “no longer looking” category that enables them to fake the numbers. They base it on time since unemployed rather than on actually no longer looking.
And I’m sure there are other games they play with the numbers as well.
Inflation will rise. Jobs will be lost. Taxes will go up when Bush cuts expire. Taxes will go up when cap and trade hits. Taxes will go up with healthcare hits. OPEC wants gasoline at $3.00 a gallon.
The economy sucks.
They dropped the number of active workers which is what the unemployment is a percentage of. It is not a percentage of all citizens over a certain age.
ShadowStats believes the number of unemployed in June exceeded 700,000 and the fall of the # of hours worked to 33 was equivalent to 800,000 jobs being lost.
The Center for Labor Market Studies puts the unemployment at 18.2% and 1 in 3 of the unemployed have been looking for more than six months. So good news, after they fall out of the active work force unemployment will hit an all time low of 0% and we'll all be in debt to the Leader.
Oh, but haven’t you heard...Ben Bernanke is already patting himself on the back because “Prospects for a return to growth in the near term appear good,”...this bozo must be using a crystal ball made out of lead!