Posted on 04/05/2015 12:51:12 PM PDT by SeekAndFind
The March monthly jobs report released on Friday actually shares two striking similarities with Easter (hint: jellybeans are not one of them).
One similarity is that, in each case, our attention is often focused on the wrong things. The labor market headlines, as usual, are focused on job growth and the unemployment rate. Employers added just 126,000 jobs in March, which, together with a reduction of 69,000 in the job creation estimates for January and February, suggests that the pace of recovery is slower than previously thought. Nevertheless, with unemployment rate steady at 5.5 percent — just fractions of a percentage point above its pre-recession norm — many policymakers and commentators remain convinced the economy is heating up.
Wrong. Instead, as I and others have argued, the unemployment rate, considered in isolation, gives us an incomplete and misleading impression of the labor market’s health because it counts only those people who are out of work and say they are actively searching for a job.
What it leaves out are the millions of Americans who are categorized as “not in the labor force” — that is, unemployed, but report not looking for work. As it turns out, approximately 2 million of these so-called non-participants find jobs in a given month, or about the same number of new hires as there are among the officially unemployed, and a clear indication that the unemployment rate does not capture the full universe of labor market hardship.
In Easter terms, its equivalent to thinking today is all about a magical bunny delivering candy and pastel colored eggs to excited children, while leaving out the deeper, spiritual story of sacrifice and suffering, of faith and forgiveness, of redemption, renewal and rebirth.
It doesn’t have to be this way. There is another indicator, the employment-population (E-P) ratio,
(Excerpt) Read more at thefiscaltimes.com ...
We should NOT be using the official numbers
Lol, stopped using official numbers for everything the day Obama was sworn in
The leftists are economic truth deniers
As people lose their jobs I have been waiting to hear that incomes are rising as only the wealthier have jobs.
The statistics are not affected when part-timers are cut from 29 hours a week to five hours a week.
”State inspection laws, health laws, and laws for regulating the internal commerce of a State, and those which respect turnpike roads, ferries, &c. are not within the power granted to Congress [emphases added].” —Gibbons v. Ogden, 1824.
So I wonder if the individual states should be publishing their own jobs reports instead of letting the corrupt feds try to win votes for RINOs and Democrats by publishing manipulated jobs data.
The 17th Amendment needs to disappear.
So I wonder if the individual states should be publishing their own jobs reports…
Good idea.
One of the fun things about the White House changing over from one Party to the other is that everybody also changes their stance on which employment numbers are “real”.
The number of workforce eligible Americans out of work at the height of the Great Depression topped out under 13 million. Today it tops 92 million.
Yup, our economy is really heating up....not!
Were the same number games played by the Bush administration? Just asking, cuz I’d like to know.
Seems EVERY aspect of obammy’s federal gub mint LIES.
No. But they were practiced by the Clinton administration -- though not nearly so egregiously as the Obama administration.
The best example of Clinton's "cooking the books" was hiding a decline in corporate profits through the 1999 and 2000 years in order to create a false sense of prosperity leading into the 2000 campaign.
When the Bush administration took over, the numbers had to be revised for the previous eight quarters.
If it had don’t you think the media would have been all over it?
Obama’s regime changed the way they measured unemployment that is why the more people who are not working the unemployment number goes lower. It should be the more unemployed the higher that unemployment number don’t you think?
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