Saturday, February 4, 2012

Obama cooks the unemployment books

The Leftists are at it again revising history as they lowered the participation rate therefore lowering the unemployment rate without actually creating any jobs. 1.2 million people are now not considered unemployed anymore. they just have left the system.

The December unemployment rate was released recently. The measured rate dropped to 8.5%. As always, a good part of this drop was caused by the ongoing decline of the number of workers in the labor force.  The labor force participation rate dropped sharply to 64.1%. This is the lowest participation rate since 1983′s 64.0%.  Anyone who argues that the drop in the unemployment rate signals an improving economy should be forced to recycle their Ph.D. in economics into aluminum beer cans. The graph below tells the gruesome story.

Labor Force Participation Rate Plunges To Fresh 26 Year Low - 2011 

By Michael Matthews

February 4, 2011 at 9:45am
You are now looking at the REAL trajectory of employment in the United States. After looking at this chart, how can anyone believe the United States economy is improving?? It's extremely clear to me that recovery is now a fantasy.
At 64.2%, the labor force participation rate (as a percentage of the total civilian noninstitutional population) is now at a fresh 26 year low, the lowest since March 1984, and is the only reason why the unemployment rate dropped to 9% (labor force declined from 153,690 to 153,186). Those not in the Labor Force has increased from 83.9 million to 86.2 million, or 2.2 million in one year! As for the numerator in the fraction, the number of unemployed, it has plunged from 15 million to 13.9 million in two months! The only reason for this is due to the increasing disenchantment of those who completely fall off the BLS rolls and no longer even try to look for a job. Lastly, we won't even show what the labor force is as a percentage of total population. It is a vertical plunge.
Contrary to what you're being told by the corporate controlled media, the United States economy is NOT improving! It's actually getting worse! Over the past 2 decades, our manufacturing capabilties have been completely annihilated by unbridled "Free Trade" with countries that pay their citizens SLAVE WAGES.
If America was a business it would be
OUT-OF-BUSINESS. I'd like to thank Walmart, China, and all of our greedy "elected officials" for taking two decades to destroy our country. Thanks for doing it nice and slow, so nobody notices what's really going on behind the curtain. Death by a thousand cuts is soooooo loving. WAKE UP AMERICA!! GET OFF YOUR ARSE!
God Dammit... I feel like yelling now... "THANK YOU SIR, MAY I HAVE ANOTHER SIR!!??"


It kinda looks like the climate change hockey stick graph that was proven to also be cooked up by leftist to further their agenda. Why do they put this stuff out there and expect us all to swallow this garbage. Keynesian economics is so full of holes they have to resort to con man like convoluted explanations to the obvious simple truth.

An analysis posted last week at the Zero Hedge website looked at what the unemployment picture would be if participation rates were held steady. Using more realistic long-term average participation rates, the study calculated a current unemployment rate of 11.4 percent. While the Obama administration’s numbers keep getting better, rates based on long-term participation do not. Factor in the number of Americans who hold down two or three jobs just to get by, and those who are chronically underemployed make the picture even grimmer.

I always welcome any input on these matters especially from the Leftists. Just keep it civil, factual and truthful and I will not remove it (I know many of you Liberals struggle with a civil, factual and truthful discussion see
Why Liberals Always Resort To Name-Calling?).

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