Skip to comments.Multiple Experts Find the 'Official' Unemployment Rate is Missing a Whole Lot of Unemployed People
Posted on 02/09/2012 10:45:58 PM PST by GVnana
1. Congressional Budget Office (January 31, 2012)
The unemployment rate would be even higher than it is now had participation in the labor force not declined as much as it has over the past few years .Had that portion of the decline in the labor force participation rate since 2007 that is attributable to neither the aging of the baby boomers nor the downturn in the business cycle (on the basis of the experience in previous downturns) not occurred, the unemployment rate in the fourth quarter of 2011 would have been about 11⁄4 percentage points higher than the actual rate of 8.7 percent.
2. Ezra Klein, The Washington Post (January 6, 2012)
Unemployment is 8.5 percent and, if not for the millions of discouraged workers who have left the labor force since 2008, it would be nearer to 11 percent. Its nice to add 200,000 jobs in a single month, but, as this graph from the Hamilton Project shows, at that rate, it will take well over a decade to fully recover from the Lesser Depression.
3. Jay Cost, The Weekly Standard (February 8, 2012)
(Excerpt) Read more at biggovernment.com ...
Looks like the the differences started to really climb after obamma took office in 2009. obamma is playing with the numbers for sure! And the MSM is following the Pied Piper obamma.
If Ezra Klein is pointing it out, the Democrats are failing to hide it. I don’t know how many people pay attention to the unemployment rate compared to those who pay attention to their friends and family that are unemployed.
This is very telling as to how this election year will be reported with murky veracity.
Countdown until Jackwagon leaves Office: 345 days as of February 10, 2012.
It’s important to remember that removing long term ‘discouraged’ workers was instituted in the 1994 revamp under Clinton and continued under Bush. It is a great way to hide what is euphemistically called ‘dislocation’ of workers under Free Trade and Globalism. It’s part of the world wide labor arbitrage and ‘harmonization’ of living standards of those who work for a living.
“I dont know how many people pay attention to the unemployment rate compared to those who pay attention to their friends and family that are unemployed.”
That’s what will prevent this from working for The Sultan; too many people can see a very different reality around them. The same holds for inflation; we are told there is none, yet can buy less groceries/gasoline/whatever when we shop. Even the welfare queens feel the pinch at the pumps...
Let me tell you about a 40 year old man I know. A few years back he quit his job, withdrew all of his money from his 401K and moved 200 miles away to live with a 19 year old girl. He paid a year’s rent in advance, paid for her cell phone, car insurance and everything else she needed. Plus he bought her a $13,000 diamond wedding ring.
After 3 months all the money was gone so she told him to leave. (from the place he’d already paid rent on) He was too embarrassed to take the ring back so he had her take it back. She came back with $6,000 and said that’s all the guy would refund her. (he believed her) Then she said “You’re going to split that with me, aren’t you?” He did.
But he wasn’t finished. He put on the internet for all the world to see just how stupid he had been. He had the love of his life and he blew it. He would never find love again.
Within a few months he got a job making a lot of money. Then he met another young lady and took her on a vacation to Belize. This time he posted on the internet how he had been blessed to find love again. After they got back from Belize she broke up with him.
Within six months he found another woman on the internet and they got married. I’m not sure how it’s going to end but I have a pretty good idea.
This person is an obama lover. You can understand why he believes everything obama says.
And by the way, he once said he hates Sarah Palin “because she’s stupid”.