Posted on 01/12/2017 2:36:13 AM PST by expat_panama
President-elect Donald Trump speaks during a press conference in Trump Tower, New York, January 11, 2017. Trump's plans for rebooting the economy 15 Hours Ago | 03:22
Donald Trump wasn't asked much about the economy during his press conference on Wednesday, but when he was, the president-elect managed a rather colossal error.
Trump said that there "are 96 million wanting a job and they can't get (one). You know that story. The real number. That's the real number."
It is unfortunately very far from the real number. There are in fact 96 million Americans age 16 and older who are not in the labor force. Of this, just 5.4 million, or 91 million fewer than the number cited by Trump, say they want a job. The rest are retired, sick, disabled, running their households or going to school. (This number is 256,000 fewer than last year and 1.7 million fewer than the all-time high for the series in 2013.)
Defining the size of the jobs problem in America is critical for the administration and the Federal Reserve to get economic and monetary policy right. If there is indeed a large cadre of Americans who want work but can't get it, it makes sense to have strong fiscal and monetary stimulus. If that number is shrinking, as the data suggest, it means much less policy is needed and too much could ignite inflation.
A more charitable explanation for Trump would expand the number to include those people who are working part time because they can't find full-time work, all the unemployed and those marginally attached to the workforce. This broader measure of slack in the economy, known as the U6, is about 14.7 million. It's the lowest since May 2008, and has come down by nearly 12 million since...
(Excerpt) Read more at cnbc.com ...
The MSM eagerly reporting on discrepancies once again since 8 years ago...
The MSM is the Country’s greatest threat.
Stevie Liesman is a horrible person....typical Democrat.
What an appropriate last name the writer has.
Work Force is 152.4 million.
Total of private sector and self employed: 129.1 million
Difference is a hell of a lot more than 5.4 million.
Also, we are at $19.956 trillion for the national debt.
We will turn 20 trillion right about on Jan. 20th.
Thanks,Obama!
...seems this lacky skips over ...over 90% of Odungo’s new hiring for several months are part timers...
They are the enemy within.
I guess the point is that he has no idea what he’s talking about a lot of the time, and that general trait can have possible negative consequences given that he’s the president (elect).
“Stevie Liesman is a horrible person.”
Isn’t he one of the privileged elite that gets the “numbers” before they are released publicly. Embargoed reports.
I am sure he would never find a way to profit from that information.
Same source:
Actual Unemployed: 14,745,637
Official Unemployed: 7,339,290
Not in Labor Force: 95,133,206
Manufacturing Jobs Now: 12,253,743
Manufacturing Jobs 2000: 17,278,431
5.4 Million say they want a job because they are currently receiving unemployment benefits that require them to certify to the government, every other week, that they are looking for a job. The day the unemployment runs out is the day they stop certifying, and is the day they drop out of the 5.4 million.
So the number of people looking for a job is somewhere between 5.4 million and 94 million. The exact number is a figure the government works very hard to obscure. One thing for sure, it is a helluva lot more than 5.4 million.
Trump has proven himself the most well-informed person on politics and other subjects in the whole country.
We have been so inundated with lying liars all the time that we have forgotten what the truth really is.
One example is beating out 16 other professional politicians in the GOP primaries.
Then beating Hillary Clinton, the Demon Party apparatus and the entire corrupt media to win the election.
Yeah, that Trump is some dummy.
Trump address issue that no else touches. For this he must be commended not ridiculed you small minded < expletive deleted >
Free Traitors™ and Keynesian economists should be burned at the stake.
Let's not make up yet more numbers here, that's how we got into this mess. There are lots of good hard numbers we could be using, like by taking the population of the U.S. minus payroll employment we can say factually that there are over a hundred million Americans not employed.
If what CNBC quoted was correct then Trump screwed up when he said they were all "looking for a job".
Three words...
Part time jobs.
So would I, and personally I'm looking forward to watching T squish and media bug who tries to make a big deal out of this to his face.
Neither of my 72 year old parents want a job at this stage of their life. So I guess the real number is 95,999,998.
“Rashly underestimate your enemy, and you will surely be taken captive.” Sun Tzu Aet of War
“In most cases I’m very easy to get along with. I’m very good to people who are good to me. But when people treat me badly or unfairly or try to take advantage of me, my general attitude, all my life, has been to fight back very hard.” Art of the Deal
President-elect Trump’s enemies have consistantly underestimated him. They do so at their own risk. Now is the time to capture them all.
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