Vas Is Das? U3 Unemployment Falls to 7.8% But U6 Unemployment Remains at 14.7%

Confounded Interest ^ | 10/05/2012 | Anthony B. Sanders

[whitedog57]

President Obama is speaking at George Mason University today (traffic is insane!). He has a long awaited jobs one-liner: the U3 unemployment rate fell to 7.8%.

He probably won’t mention that U6 unemployment, the more indicative measure of true unemployment, remained at 14.7%. This is due to a large increase in the number of workers working part time for economic reasons.

Change in nonfarm payrolls rose by 114,000. Hardly comforting given the 12,088,000 unemployed.

And remember that the survey of households uncovered an additional 800,000 jobs this month, 187,000 of which government workers. [This reminds me of the miraculous appearance of boxes of ballots during a close election].

Here is the employment scorecard.

The number of non-institutional population going on disability has increased dramatically, as has the number of households on the SNAP (food stamp) program.

[RedEyeJack]

5th grade math... increasing the denominator will reduce the result (percentage). a shrinking numerator means a BIG increase in the denominator is needed and that is what we got...

Notice no one is saying this was “unexpected”. Wonder why?

[USNBandit]

Oceania has always been at war with Eastasia......