How can the rate drop when fewer than expected jobs are being created?
More funny math.
More people off the UE system not being counted.
Just arbitrarily reduce the denominator until you get the stats you want.
PS Chocolate rations will be increased to 15 grams per week.
Because more people have given up looking for work and when they do that they are no longer counted as being unemployed. If they gave the rate for people of working age who aren't working the numbers would be a lot different.
The unemployment rate is a ratio. The denominator is the number of persons in the labor pool. The denominator is slipping faster than the numerator which is the number of new unemployed.
The labor pool is shrinking because people have given up or are underemployed and are working multiple jobs. Persons who take a second or third job are not reducing the number of unemployed.
When the underemployed and frustrated are factored in, the unemployment rate is well over 16%.
Personally I know people that are still waiting to bounce back from 2009. In the next 5 to 6 years I don’t think they will ever have the opportunity.
I have heard from several young people that they have taken second and third jobs. Although they are naturally upbeat at their young age they are increasingly frustrated. They’re also bright enough to know that dramatic increases in the minimum wage will result in losing a job or two.
Under Obama the USA is in decline largely because of his policies.
Because more people are hoping in the wagon then pulling it.
Obamanomics is working! Spectacularly, even.
Yes, we can;-?
The denominator in this ratio is the only number that’s real.