Posted on 01/08/2022 12:25:02 AM PST by ProfessorGoldiloxx
"The U.S. economy added just 199,000 jobs in December and the unemployment rate fell to 3.9 percent.
Economists had forecast 422,000 jobs and an unemployment rate of 4.1 percent, although this week’s report on private payrolls from ADP indicating that the private sector added 807,000 jobs had created some anticipation that the official figure would be higher than the consensus forecast. ..."
(Excerpt) Read more at breitbart.com ...
I need to get one of the 100 sticker packs of Biden pointing and saying “I did this.” and put them on people who voted for him. Right in the middle of their forehead, like a scarlet letter.
Unemployment rate is such a joke of a statistic that reporting it is prima facie evidence that the media are incompetent or tools of the government. It measures the number of people who say they are looking for but cannot find work. If everybody who wasn’t working said they weren’t looking for a job, the unemployment rate would be zero.
Oh its even better than that. If you are out of work for an extended period of time.....like say those put out of work a year and a half/two years ago by the shutdown orders, then they PRESUME you “gave up” and are not looking for a job. Nobody bothers to ask you if you “gave up”. They just don’t count you anymore.
The real measure is the total employment rate...that is the percentage of the working age population engaged in paid work. There’s no massaging that number. Stuffing people onto the “disability” rolls so you don’t have to count them as unemployed doesn’t help nor does pretending the long term unemployed “gave up”. What is the total employment rate? Oh I see! That percentage has declined precipitously.
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