Posted on 05/06/2012 7:12:30 AM PDT by chuck_the_tv_out
The White House crowed on Friday about the unemployment rate dropping a 10th of a percent. At the same time, the number of people out of the labor force reached a record high. The Obama administration can report all the funny numbers it wants, but the American people know in their guts that things are getting much worse.
A recovering economy is supposed to create jobs, not shed them. According to government math, 115,000 new jobs were added in April. But over the same period, 522,000 people dropped out of the labor force and were not counted as unemployed. This accounting trick improved the official unemployment rate but left America with a record 88.4 million in the uncounted jobless category. Currently, over 35 percent of Americans are out of the labor force, and the number is increasing.
The last time the employment figures looked this grim was more than 30 years ago when the nation was heading into a recession. Had the April dropouts been included in the official number, the unemployment rate would have risen instead of declined. If the official jobless figure were calculated based on the June 2009 employment participation rate, when the recovery officially began, unemployment would be more accurately pegged at 11 percent today.
The April figures reveal an accelerating and troubling trend. In March, there were about three people dropping out of the system for every new job created. Now the rate is four-and-a-half dropouts per new job. Luckily for the White House, the more people who shift from looking for a job to giving up, who transition from hope to despair, the lower the official number tracks. If a few million more citizens simply gave up on the American dream...
[...]
Congress should force them to testify about their misleading methodology under oath.
(Excerpt) Read more at washingtontimes.com ...
In a sane world, this article would leave a mark. The Leftisits are so smugly sure of their immunity to the destruction they are causing, they will respond with more lies and expect them to be believed. The days when the average guy on the street became outraged over immoral/unethical behavior, and spoke out against it with effect, are long gone. Places like FR are among the few “residences” of the average guy on the street.
I’d like to know how many careers were created from those 115K ‘jobs’?
Oh, that Times.
Don’t sweat it. We only have four more years of this.
“Congress should force them to testify about their misleading methodology under oath.”
Like that would make any difference. Lying has become a standard practice in the United States Government.
It isn’t called the (D)istrict of (C)riminals for nothing.
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