Skip to comments.It's 'Disturbing' How Fast The Unemployment Rate Is Falling
Posted on 02/07/2014 12:07:28 PM PST by blam
It's 'Disturbing' How Fast The Unemployment Rate Is Falling
Feb. 7, 2014, 10:50 AM
The unemployment rate is falling really fast.
This morning, we learned it had declined to 6.6% the 23rd-straight month without an increase. As Brooking's and UMichigan's Justin Wolfers observes, the rate has dropped 1.3% over the past year an insane acceleration from 2012's decline of just 0.3%.
"Only three other times in the past six decades has the unemployment rate fallen this far this fast: in the early 1950s, when growth averaged 6.7% per annum; in the late 1970s when GDP growth averaged 4.8%, and in the mid-1980s when growth averaged 5.2%," said Gluskin Sheff's David Rosenberg to the U.S. Senate Budget Committee earlier this week.
In those other three instances, growth was robust. This time around, he says, we should probably be concerned about what's causing the plunge.
"Today we accomplished this feat with only 2.4% growth which is disturbing because it means that it is not taking much in the way of incremental economic activity to drain valuable resources out of the labor market," Rosenberg continued.
(Excerpt) Read more at businessinsider.com ...
Just a guess here, but maybe its the deceptive manner in which the government quantifies the unemployment rate.
The Democrats aren’t celebrating because they are trying to extend unemployment benefits.
Easy when you stop counting those who have given up or accepted a part time gig.
When you change the way you count, you change the result. Amazing.
My best guess is that the real unemployment rate is about triple what the official number is.
Anyone that gets a check is”employed!”
“Many have given up” ... is a myth. They simply ran out of unemployment benefits and are no longer counted as unemployed even though they are. But most have NOT given up.
What’s disturbing to me is why this guy (Rob Wile) can’t figure it out.
The rate isn’t dropping... They just re-defined unemployment. It’s no longer tied to the employment rate.
Absolutely, gotta put on a really big show for the 2014 elections, then on to the coronation of the shrillary in 2016. This will guarantee the total destruction of the American Experiment.
Gonna be ‘popcorn fodder’ to watch the wench trying to come off as more conservative than 0.......
Yes, it is disturbing. Because the REASON it is falling is because people are not finding jobs and DROPPING OUT of the work force.
Obama is ruining America— a symptom of our godless morality.
I think we have a winner!
Here in Maryland, back when Martin O’Malley became the mayor of Baltimore, the homicide rate fell drastically when the police failed to report instances of people killing other people.
Hap-py Days are Here Ag-ain! The Skies A-bove are Clear A-gain! ...
Bingo. It is precisely that. The only measure of unemployment worth looking at is Per Cent of Population Employed:
You'll note there is not any good news in that.
6.6 * 3 = 19.8, a much more reasonable rate.
I'd thought the real rate was closer to 25%; then I saw the following:
And Mr. Marotta calculates it as 37%.
Typical Business Insider cheering squad propaganda for the O administration. (A very interesting website with some of its articles, but they are mixed in with propaganda items...caveat!).
So anyway, the answer to “unemployment rate dropping too fast” ... is for Obama to just slow down (if he can) the lies about the economy. SUCH AS, in this particular, put all the millions of unemployed American workers BACK INTO the “labor force” statistic.... COUNT all the people who’ve lost their jobs these past 5 years......instead of pretending they don’t exist.
INSTANT correction, the reported “unemployment rate” goes up to 15 or 20 or 25 percent to more accurately reflect the reality of life today
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