(CNN Money) Problem: Most Americans don't believe the unemployment rate is 5%

CNN Money ^ | 9-6-2016 | Heather Long

[tcrlaf]

Americans think the economy is in far worse shape than it is.

The U.S. unemployment rate is only 4.9%, but 57% of Americans believe it's a lot higher than that, according to a new survey by the John J. Heldrich Center for Workforce Development at Rutgers University.

The general public has "extremely little factual knowledge" about the job market and labor force, Rutgers found.

It's another example of how experts on Wall Street and in Washington see the economy differently than the regular Joe. Many of the nation's top economic experts say that America is "near full employment." The unemployment rate has actually been at or below 5% for almost a year -- millions of people have found jobs in what is the best period of hiring since the late 1990s.

But regular people appear to have their doubts about how healthy America's employment picture is. Nearly a third of those survey by Rutgers believe unemployment is actually at 9%, or higher.

Republican candidate Donald Trump has tapped into this confusion. He has repeatedly called the official unemployment rate a "joke" and a even "hoax."

[Kickass Conservative]

I’m still waiting for my Chocolate Ration increase.

[TigerClaws]

The numbers have been cooked for years.

People are taken off the list if they give up looking for work.

MBAs delivering pizzas are counted as employed and off the list.

The ‘disability’ rolls are filled up to take people off unemployment lists.

It’s a scam.

94 million out of the work force. Unemployed and underemployed is more like 20% right now.

[PreciousLiberty]

“Funny how CNN didn’t mention the labor participation rate. Hmmm....”

Right, how many millions have dropped out of the workforce again...?

Aside from that, underemployment is a huge issue. A job at McDonalds isn’t the same as a $100K/year position.

I also still see a lot of small businesses failing. I’m pretty sure the owners aren’t included in unemployment statistics...

[dragnet2]

Many of the nation's top economic experts say that America is "near full employment."

I can imagine Tokyo Rose broadcasting this.

[gogeo]

That’s pretty much it. Reasonably coherent observers assume that when Hillary’s lips are moving, she’s lying. They only listen to judge the quality of the lie.

[slouper]

Watch, when Trump get elected all the stats will all of the sudden become realistic again.

[Arthur McGowan]

She’s an expensive whore, like almost every other media person in New York.

[thoughtomator]

The official unemployment rate measures the gullibility of the public in the area of swallowing obviously fraudulent economic numbers.

[wastoute]

Actually, probably much closer to 50%.

[SoFloFreeper]

Because it isn’t.

[MacMattico]

A lot of millennials may actually be lazy, but I know so many in my area that can't find a job that will give them more than 20-25 hours a week. And they can't live on this. My daughter is in college, but it took her sending out forty resumes online, yes resumes not just applications, to find a summer job as a hostess in a restaurant. She began applying in March. At school many students are talking about how they couldn't find a summer job, so they took out more in loans. None of these younger people are counted in the unemployment numbers, and that's just talking about younger people. I guess that's why many wanted Bernie. Desperation. My daughter attended her first college republicans meeting tonight as a matter of fact and said she met the nicest group of kids on the campus. I was proud of her, some her “friends” tried telling her not to go. Many conservative kids, she said she felt at home.

[jiggyboy]

This imaginary “5%” figure is one of many measures in the official report, specifically U-3. Basically, it’s only people getting unemployment checks.

Nobody publishes U-6, which is far more accurate in that it includes people more people who are, how can I put this in layman’s terms, not working. :-)

[1rudeboy]

Unemployment compensation does not figure into any of the U numbers. So basically, you are incorrect.

[DaveA37]

“Funny how CNN didn’t mention the labor participation rate. Hmmm....”.........

I have said it many, many times, “You can word a poll any way you want to achieve the desired outcome.” I have literally “zero” faith in polls.

[jiggyboy]

I’m touched that you still troll me after all these years.

[1rudeboy]

If you define pointing out your bullcrap as “trolling” in order to make yourself feel intelligent, have at it . . . I plan to be on FR a long time, pushing back the frontier of economic ignorance.

[Vermont Lt]

Unemployment is probably close to that number. Under employment is a better indicator. You still have to pay the bills.

[egfowler3]

Here within the KS City metro, I have only to look around me as I pass through the business district and see all the buildings bearing for sale-or-rent and closed signs all around me during business hours to see what the true economic conditions are. And its not pretty like the administration's officials want me to think or believe.

What I see tells me our economy is in terrible shape no matter what CNN wants me to think.

[Sirius Lee]

Stupid peasants don't believe that their chocolate ration has increased to 25 grams, either.

Very well, we will increase it to 20, and the floggings will continue until morale improves.

[Bryanw92]

>>Funny how CNN didn’t mention the labor participation rate. Hmmm....

The media never does. The Globalist Progressive Republicans never do. The Anti-Colonialist Progressive Democrats never do.