should be slashed dramatically compared to 6 years ago...
It's all a bunch of lies.
Posted on 09/28/2015 5:47:46 PM PDT by 2ndDivisionVet
The official U.S. unemployment rate is 5.1% -- the lowest in seven years -- but Donald Trump calls that a "joke."
On Monday, he claimed he'd seen numbers that show America's real unemployment rate is as high as 42%.
How does he arrive at such a wild figure?
Trump appears to be looking at the number of American adults not working. Period.
Out of about 251 million American adults, roughly 102 million -- or 40.6% -- aren't working.
But, of course, there are a lot of reasons people don't work. They could be disabled, in college, at home raising kids or retired.
And you wouldn't include those groups in the unemployment rate, which tries to capture how many people are actively looking for work and can't find it....
(Excerpt) Read more at money.cnn.com ...
LOL.....true ;-)
Yep, the labor participation is awful....but a lot of folks not working are retired, living off investments, ss, etc. The 5% is absurd from the government, but the 42% is based on a misunderstanding of what labor participation rate means.
You are 100% correct! You said:
I just got done watching the entire event this morning when Trump announced his Tax Reform plan and took Q&A.
Trump did say that the 5-6% being touted by the government was a joke (and I think we all agree there). Trump said that he thought it was closer to 20%.
So Trump said it was more around 20% - not 40%!
I just watched it too and I agree with you. The baked and cooked low unemployment numbers they trot out are pure bs! Trump has a common sense approach. It is so refreshing! Win Trump Win!
Every unemployed person who heard him mention a possible 42% figure said to themselves “I believe it!”
It’s the stupid 5.1% number that they don’t believe.
Although pushing 70, I am technically employable, but living on ss, a small pension, and my dh. Neither of us wants to contribute any more than unavoidable to the current rgm. Given a more encouraging dc set, things could change.
should be slashed dramatically compared to 6 years ago...
It's all a bunch of lies.
Quibbling. Lead pipe cinch the REAL unemployment figure is a lot closer to 42% than it is to 5%.
My understanding is that we have 100 trillion in unfunded liabilities on top of that 20 trillion in acknowledged debt.
Those charts are the stuff of nightmares!!
"On Monday, he claimed he'd seen numbers that show America's real unemployment rate is as high as 42%."
The article’s title doesn’t necessarily compliment Trump’s claim.
Yeap. That is the way it works in Illinois too.
Trump said it’s around 25% or thereabouts on CNN tonight.
The real unemployment rate is certainly not 5.1%.
There are also only 11 million illegals...yeah that’s the ticket, 11 million, and not one more.
42% is extreme and rhetorical - even if Stockmans explanation is, well, some sort of explanation.
5.1% is simply misleading. This works only as a tracking number vs recent history, and the metric is obsolete as there has been a big change in labor force participation. This change in labor force participation makes this old unemployment metric entirely useless as it is not comparable with the situation in, say, 2000 or 2006.
Conversely, CNN Money is also being deliberately disingenuous here -
“There’s a valid, but different, conversation to have about the trend that more and more American adults aren’t working. It was expected that the number of American adults in the workforce would decline as more Baby Boomers reached retirement age.”
This is entirely false, and it is well known to be false by every expert on the labor force. The decline in labor force participation skews young, not old. There has been no decline in over-55 labor force participation, and whatever mook they dragged in knows that very well.
Well, if you count government “workers”, that’s probably a pretty accurate number...
Over 55 labor Force participation
https://research.stlouisfed.org/fred2/series/LNS11324230
No change during the recession.
25-54
https://research.stlouisfed.org/fred2/series/LNU01300060
Still declining ! What recovery ? The peak was @ 1999-2000 and never got back to that. Note, that this kept rising through multiple recessions - women working explains most of that.
16-24
http://beta.bls.gov/dataViewer/view/timeseries/LNS11324887Q;jsessionid=683DE9B4C714291A8102BA764782CAD5.tc_instance6
This all is not a recent phenomenon, particularly the fall in youth employment, but the latest recession has been particularly bad and there is no evidence of a recovery.
Obama is not entirely to blame, there are things going on here that predate him, but he hasn’t helped.
This is what happens when you let someone govern according to the Chicago Mafia. I mistakenly assumed back in 2008 that Obama was going to get his @$$ in a ringer for trying that Chicago criminal crap on the Federal level.
I simply didn't realize how much in the tank the media are, and how willing they were to turn a blind eye to the criminality of their Chocolate dildo.
When this regime is over, there needs to be enacted laws which destroy this current incestuous relationship between Media and government. Everyone that enabled this bastard needs to end up in prison.
That is what the last seven years have been.
They put out the # they want you to see
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