Posted on 02/03/2012 8:42:35 AM PST by richardb72
The number of unemployed Americans last month fell by 339,000, the fifth largest drop since January 2009. But there was an even much more shockingly large number -- almost 1.2 million additional Americans were classified in January as not being in the labor force (see figure here). Unfortunately, that has been the consistent story that has made this recovery unique as more and more Americans have just given up looking for work.
This last number not only means that the official unemployment number is misleading, but it will also likely determine where the unemployment rate ultimately goes. Indeed, the Congressional Budget Office just last week released its projected unemployment rate for the next couple of years. They predicted that the unemployment rate will be at 8.9 percent during the last quarter of 2012 and rise to 9.2 percent for the last quarter of 2013. . . .
(Excerpt) Read more at foxnews.com ...
Honestly, who can afford to just drop out of the labor force?
Note that there IS an underground economy.
Millions of Americans...millions.
They didn’t actually drop out. They are classified that way.
Rick Santelli: Here’s What’s Wrong With the Jobs Number
http://video.cnbc.com/gallery/?video=3000071275
It means they are so discouraged that they have given up on looking for employment. If I am not looking for employment, then how can I be unemployed?
Here’s the statistic worth remembering: no American President has ever been re-elected with unemployment above 8%.
Any predictions as to what the “official” unemployment rate will be on Election Day?
I suppose you’re both quite right. However, I can’t imagine it for myself.
Don't underestimate the ability of the Misledia to promote their chosen one, or the inability of a lame candidate to offer a meaningful alternative.
Any predictions as to what the official unemployment rate will be on Election Day?
They'll find some way to get it below 6%, even if it means kicking people off the unemployment rolls.
Here's an interesting factoid: Unemployment bottomed out at 4.4% in December, 2006. It peaked at 10.2% in October, 2009, and hung around that plateau until December, 2010. It's been dropping pretty fast since then.
What events occurred in January 2007 and January, 2011? I'll give you a hint: it has nothing to do with who occupied the Oval Office.
I am sure that ZerO will have his stooge Biden out there spinning this differently to the drive-by media.
Heres the statistic worth remembering: no American President has ever been re-elected with unemployment above 8%.
Any predictions as to what the official unemployment rate will be on Election Day?
They can lie all they want to, if you are unemployed or under employed
they can lie all they want to, it is not going to change the citizens
situation. The media can lie all they want to people know they are NOT
working!!!!!!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.