BTW, it always infuriates me why the GOP and Romney NEVER mention that this 8% unemployment doesn’t include those who’ve stopped looking for work, and stopped collecting unemployment because they’ve hit the 99 week mark! The pie is shrinking, and they keep accepting these bogus numbers. Isn’t real unemployment around 11 or 12%?
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I have never understood why the U6 number which includes all the unemployed is NOT the number that is reported anyway.
It makes no sense to report the percentage of unemployed that is reduced when people cease to get unemployment benefits without getting a job, as the true picture.
The real (U6) unemployment number remained flat. Someone posted yesterday that was 14%, but Romney said in a speech yesterday that it was around 11%. So I would go with that.
Furthermore, the new jobs created from the employer survey was only 114,000 not enough to budge the unemployment figures down at all. The household survey reported 600,000 new jobs, but is not as accurate as the employer survey. Some one posted yesterday that the margin of error was 400,000??
What I would do is to look at how many people were employed when Obama took office and what is that number now? What was the “real”(U6)unemployment % number then and now. What was the number of new jobs created from the employer survey, how many were lost, and how many were private sector vs public sector jobs.
“I have never understood why the U6 number which includes all the unemployed is NOT the number that is reported anyway.”
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Exactly!
Glad to hear Romney’s pushing back on this. I think they should do an ad blitz discussing this U6 number in a very simple, easy to understand way. Romney should craft his message to those who “are NOT counted.” This would hit a home run and show this POS Marxist for who he is!