Current U-6 Unemployment Rate is 12.0% BLS and 15.1% Gallup
September 5, 2014 BY TIM MCMAHON
Posted on 09/07/2014 9:17:08 PM PDT by Is2C
Back in May 2013 the Dow was out of its recession doldrums and hitting new highs. I asked readers if Obama could, economically, be the best modern President? The #1 issue raised by readers was whether the stock market was a good economic barometer for judging “best.” Many complained that the measure they were watching was jobs – and that too many people were still looking for work.
To put this week’s jobs report in economic perspective I reached out to Bob Deitrick, CEO of Polaris Financial Partners and author of “Bulls, Bears and the Ballot Box” for some explanation. Since then Polaris’ investor newsletters have consistently been the best predictor of economic performance. Better than all the major investment houses.
This is the best private sector jobs creation performance in American history
Deitrick – “President Reagan has long been considered the best modern economic President. So we compared his performance dealing with the oil-induced recession of the 1980s with that of President Obama and his performance during this ‘Great Recession.’
As this unemployment chart shows, President Obama’s job creation kept unemployment from peaking at as high a level as President Reagan, and promoted people into the workforce faster than President Reagan.
President Obama has achieved a 6.1% unemployment rate in his 6th year, fully one year faster than President Reagan did. At this point in his presidency, President Reagan was still struggling with 7.1% unemployment, and he did not reach into the mid-low 6% range for another full year. The Obama administration has still done considerably better at job creating and reducing unemployment than did the Reagan administration.
We forecast unemployment will fall to around 5.4% by summer, 2015. A rate President Reagan was unable to achieve during his two terms.”
(Excerpt) Read more at forbes.com ...
part time and working at fast food restaurants. without those categories we’d be over 10% unemployed right now.
And then these liberals rub salt into the wound.
What kind of drugs are they on??
BFL
Something tells me there’s a major election coming in two months. Gotta get the SHEEP in line to vote Democrat!
The brothers Grimm had nothing on these ass hat clowns.
They make “stuff” up faster than any liars I’ve ever seen.
321.0 SPLAT Liberal Cerebral Defenestration (LCD) or Liberal Acquired Brain Absence (LABA), Complete loss of rationality, cognition, and cerebration due to indiscriminately keeping one's mind so far open that the brain falls out. First and subsequent encounters.
Bingo.
I have even met die hard Obama supporters that admit the economy sucks....
No question this writer is smoking Crack and drinking the Kool Aid.
The Administration should hire this guy as their Joseph Goebbels. This is clearly B.S. propaganda.
Why does Forbes even publish this garbage?
The Obamaists changed the criteria underlying the unemployment rate in 2005 or 2006, IIRC. The numbers are not comparable because of that.
Who ya gonna believe, Obama or your lying eyes?
Forbes in the tank with these commies
I work for a major bank and yes, we have employees, but most are part-time or temps who have been wanting more hours or to get hired for months or in some cases, years. Our department was supposed to have grown 300% and we’ve been stuck with about 10-12 employees since 2009. Some days we run out of work at 11:30 in the morning. Now, I don’t claim to be an economist, but the economy - it still sucks, folks.
I remember when Forbes was a respectable business journal.
The politicians decided that the public didn't need to know the real numbers so they adjusted the formula.
Real unemployment has been over 10% for obama's tenure and remains over 10%. Look at the labor participation rate if you want to get a handle on how obamam is doing.
I haven’t read or heard any references to “discouraged job-seekers” in years. Sadly, millions believe these government figures.
The cry for $15 minimum wage (and the fact that mainstream Americans are not shouting it down) should convince anyone that the economy is floundering.
Using UE rate is a ridiculously stupid way to compare.
Facts:
Between Jan 1981 and August 1986 changes in NFP were +8,644,000
Between Jan 2009 and August 2014 changes in NFP were +4,344,000
Job creation under Reagan was almost double that of Obama.
Goodness this is a stupid article... talk about cherry picking data.
Anyway, let’s look at GDP growth.
Facts:
From 1Q81 through 2Q86 GDP CAGR was +0.75%
From 1Q09 through 2Q14 GDP CAGE was +0.49%
Reagan performance was 53% better.
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