The unemployment rate under Bush was as low as 4.4%.Sounds like he is giving up.
US Unemployment Rate data by YCharts
Posted on 06/19/2013 12:08:47 PM PDT by tcrlaf
Bernanke just now during his post-FED Meeting presser:
"Between 5% and 6% unemployment is what we consider to be "Full Employment"".
Remember when Nancy Pelosi and the TV told you that 4.3% Unemployment (1.8% in Indiana at the time) was "THE WORST ECONOMY SINCE THE GREAT DEPRESSION!!!" under Bush?
Interesting! Just a few short years ago Bush’s 4.7% unemployment rate was considered the “worst economy since Herbert Hoover”. In fact, it was the mantra of Nancy Pelosi & Harry Reid who finally won control of Congress in 2006.
The metric by which it is measured has changed.
Gee, I wonder how many discouraged unemployed who are “no longer seeking employment” are counted in that stat? How many folks who are underemployed?
Given the state of things, stats from this administration and its minions are worthless.
I don’t see it ever getting down to 5% or 6% under this regime. Of course, with the Department of Labor working the stats, anything is possible I guess.
They now include welfare recipients as employed and they didn’t years ago.
Welfare leaches aren’t in the labor pool so it doesn’t make any difference.
Under 6% and there is a shortage of employees available.
"REAL" unemployment statistics, or made up ones from the 0bama Regime's propaganda machine?
I was referring to the use of U6 versus U3.
The huge proliferation of “29ers” is going to help the unemployment rate a fair amount. Basically replacing 3 full timers with 4 part timers.
Many of the schools here are moving their non-degreed staff to “29er” status to avoid Obamacare.
By whose standard?
“Full employment” has changed quite a bit that I recall.
America’s future is looking pretty grim.
However, and going on the 'Blind Squirrel / Stopped Clock' theory, Bernake sounds like he might be about right. 5% of the population is just plain unemployable.
My standards are higher, I'd argue that it's a lot more.
We’ll limp along until the markets stop swallowing an unlimited number of Baraqqi/Bernanke/Lew minibucks.
When that day comes and the entitlements choke off, big trouble.
I think I may have screwed this up. I’m looking to see if I did. Sorry if I did.
there is more then 14% unemployement.
0% unemployment is full employment. Liberals, Free Trade Communists, and other America Haters think that unemployment is full employment
Yup, that was what I learned when I got my econ degree in 1972.
Gee, how times change....... (sarc)
The unemployment rate under Bush was as low as 4.4%.Sounds like he is giving up.
US Unemployment Rate data by YCharts
Me either, but I wouldn't put it past them to manipulate the statistics to hit whatever number they want.
Look at the weekly UE figures. FR was paying attention to them for awhile (before everyone realized they were useless). Prior week's stats were *always* revised upwards. 51 out of 52 weeks, for one stretch, for example.
Now, I'm no statistician, but I'd expect them to be on the money a small percentage of the time, and be over / under the rest of the time, at a fairly even distribution. 40% over/ 40% under / 20% correct, plus or minus a couple of points either way, for instance.
But for the administration to be wrong - in their favor - nearly every single time, says to me that someone was jiggering with the numbers. Flip a coin, and see how long it takes you to get 51 out of 52 to come up heads.
The S&P 500 stock index dropped about 1% as soon as Bernanke opened his mouth. What a coincidence.
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