UNEMPLOYMENT IS 8.3% -- RIGHT? -- NOT REALLY

For a few months news agencies have reported enthusiastically that unemployment is decreasing. They would have us believe that the economy is improving dramatically. Unemployment of 8.3% is suddenly a level to be enthusiastic about. It isn't, of course. Moreover, it isn't accurate either. What the Bureau of Labor Statistics (BLS) doesn't report is that 8.3% is number derived after 1.2 million people were taken off the jobless rolls because they gave up seeking work. Put the 1.2 million people (still not employed!) back in the equation and, lo and behold, the number is still 8.9%. Who and what can we believe?

We can expect more subterfuge as the remaking of Obama continues to influence the November election.

Oh, that reminds me that Obama "saved the auto industry" that is coming back by leaps and bounds. But, it isn't. Not really, but that's another topic for another post.

Comments

  1. Was this process also used in other administrations, or a new methodology created by the obama regime? Mike Morgan

    ReplyDelete

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