WSJ: Analysts predict 7.7% unemployment by November 2012

Hotair ^ | 03/14/2011 | Ed Morrissey

[TomGuy]

No surprise, even though Reuters, et al, will call it ‘unexpected’.

Just since Christmas, 3 million have been mysteriously lost from the unemployment numbers. Alien abductions?

By next fall, the Bureau of Labor Statistics could/will easily manipulate the numbers to reflect a rate of 8% or less.

Additionally, official inflation, we will be told, remains comparatively low, even though coffee may be $5.00+ per pound and gasoline $5.00 + per gallon.

[stevecmd]

...should just be about good enough to get Dear Reader re-elected.. : (

[OldMissileer]

When you don’t count people who can’t find work and give up, you can make the rate about as low as you want.

The numbers are lies.

Yep. They do not count people who have come to the end of their unemployment as well as all the people who were never elligable for unemployment. Also, many people have given up looking for work.

I know quite a few people who were laid off from their high-five and low-six figure jobs and are now working at stores for $10 per hour. They are considered employed but are in financial distress. Most have already lost their homes.

While they are "employed", they are actually under-employed. They are not counted.

[TomGuy]

The raw U6 unemployment number is 22.1% for February 2011.

U6 increases and U3 decreases. Guess which one gets touted.

[skeeter]

WSJ's Miss Maryann conducting poll of respected economists:

[commish]

The way the government now hides numbers is unbelievable.

Need Unemployment rates lower than they actually are, just adjust the number of people in the ‘employment pool’.

Need inflation rates lower than they are, just remove Food and Fuel (you know the two absolute neccessities every person has to have) from the equation.

All the government is doing is hiding the fact we have 10-15% inflation and 20% unemployment in this country - RIGHT NOW!

[RexBeach]

Well, don’t get nervous, everyone.

These folks can make their predictions, but the chances that they will be even remotely correct are pretty tiny.

Don’t sweat it.

-Rex

[Red in Blue PA]

Repeat after me.......

WAR IS PEACE,

FREEDOM IS SLAVERY,

IGNORANCE IS STRENGTH

[elpadre]

As soon as business and industry are confident Obama is on his way out of office, the US will see a dramatic increase in economic activity and rapid rise in employment - mark my words!!!

[wolfman23601]

If the unemployment rate is still hovering around 8% in November 2012, Obama is done. The economy went in the crapper in September of 2008. We could run Attila the Hun and win in this scenerio.

[LibLieSlayer]

From the ANALysts that have been wrong on every facet of reality for the last 20 years.

LLS

[Buckeye McFrog]

I predict that gov’t “analysts” will pull that 7.7% unemployment number out of their butts by November 2012 to help Obama win re-election.

Evidently about 90 million of us will be exiting the labor force...

[Windflier]

Most people don’t believe the unemployment numbers now, nor do they believe that the recession ended nearly two years ago.

You're correct, but that won't stop the leftstream propaganda complex from blasting out one Big Lie after another next year to help the Boy King's chances of re-election.

Hopefully, they'll follow him into his well-deserved oblivion.

[TheBattman]

Well - under the current method of calculating unemployment, the 7.7% number might be “correct”...

By then, many millions of unemployed will roll off the unemployment rolls because they have run out of benefits, so thy are no longer counted among the “unemployed”.

[Altura Ct.]

The Wall Street Journal surveyed economists and found that an average of their projections will put it at 7.7% when voters go to the polls:

Are these the economists and WSJ that so deftly predicted this whole financial debacle?

[Palter]

It will stay ugly.

A old prediction from Mish.
Mish Unemployment Projections Through 2020 - It Looks Grim

[DeaconRed]

I have no doubt that ZERO and the MSM will manipulate the numbers to show 7.7% UNEP.

[funfan]

So in otherwards the rate will be around the same as when Bush left office so Obama has not improved anything and if the rate of 7.75 is good when O is the so called pResident than I suppose it would be good when G W Bush was President as well. Right?

[ex-snook]

"I predict that gov’t “analysts” will pull that 7.7% unemployment number out of their butts by November 2012 to help Obama win re-election."

How about this. If the unemployed number is worse than that Democrats will win in a landslide believing they are being screwed by Republicans.