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O's Legacy? Unemployment Rate Now Meaningless (Stunning article predicts this many months ago)
American Thinker ^ | Dec 5, 2011 | C. Edmund Wright

Posted on 10/07/2012 7:45:17 AM PDT by C. Edmund Wright

Hope and Change apparently means that the Obama administration is counting on so many Americans giving up hope that the administration can now change the entire metric for measuring unemployment. When you analyze the most recent employment statistics, you have to conclude the strategy is working. We all know that Barack Obama's legacy will be that of a wide swath of destruction across the economy and in fact all of American life. And one item you can add to that Obama ash heap will be the trust anyone has in any government statistics -- most notably the official unemployment rate. And as a result, Obama may be really hanging himself with these accelerating obfuscations. For months, the administration has been monkeying with the unemployment figures to hide some of the trauma Obama has inflicted on the U.S. economy, but last week's shameful cooking of the jobs report took it to a whole new level. To hear the government tell it, our unemployment rate plummeted nearly half a point in just a month to a level of 8.6%. And it did this on the strength of 120 thousand new jobs.

(Excerpt) Read more at americanthinker.com ...


TOPICS: Business/Economy; Politics/Elections
KEYWORDS: edmundwright; obama; unemployment
Call it shameless if you will, but this is one of several pieces from many months ago that explained what would happen to U3 figures and how it would be done - and they have all come to pass exactly as predicted.
1 posted on 10/07/2012 7:45:27 AM PDT by C. Edmund Wright
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To: C. Edmund Wright

No, not shameless, prophetic.....


2 posted on 10/07/2012 7:58:01 AM PDT by American Constitutionalist
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To: C. Edmund Wright
For last week's phony unemployment rate, it's almost as if someone from the Obama administration finally realized that instead of being ridiculed by reducing the number of people in the available workforce (the denominator), they should instead cook the books by miraculously coming up with 800k+ people entering the workforce (the numerator).

Either way, it still stinks, and nobody with half a brain is buying it.

3 posted on 10/07/2012 8:07:21 AM PDT by mellow velo (Oxymorons: jumbo shrimp, rap music, liberal think-tank)
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To: American Constitutionalist

Well thanks - I just took a quick trip through my American Thinker archives, and I have a whole series of articles from December of 09 - yes December of 09 prior to Obama’s inauguration but after his election - that absolutely nail the entire jobs situation. What would happen to the jobs, how it would be reported, how Obama would use it.

I have to figure out a way to capitalize on this. For truth sake, anti Obama sakes, and yes, my sakes too. (I am a free enterprise type of guy...)


4 posted on 10/07/2012 8:10:53 AM PDT by C. Edmund Wright ("You Might Be a Liberal" (YMBAL) Coming out Sept 1 by C. Edmund Wright)
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To: C. Edmund Wright

There’s no lie that they won’t tell.


5 posted on 10/07/2012 8:14:55 AM PDT by Gay State Conservative (Ambassador Stevens Is Dead And The Chevy Volt Is Alive)
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To: C. Edmund Wright

From the BLS most recent report-

Here is how the numbers were conjured:

http://www.bls.gov/news.release/pdf/empsit.pdf

“The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) rose from 8.0 million in August to 8.6 million in September. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.”

Part time employment increased 600,000 people in September?

This is BS for the BLS.


6 posted on 10/07/2012 8:19:19 AM PDT by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one)
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To: C. Edmund Wright

And here is a better explanation of how the calculation process has changed over time and a graph to illustrate what the effect really is.

http://www.shadowstats.com/alternate_data/unemployment-charts

This is the Obamanation.

And note the divergence of the blue line (unadjusted BLS data) and the reported BLS data beginning in 2009.

Could not be clearer.


7 posted on 10/07/2012 8:21:06 AM PDT by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one)
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To: C. Edmund Wright
Your's ? mine ? and other's prediction if Romney wins on Nov 6th ? next day Wall Street posts the biggest rally we have seen in years.
But, I think companies won't really start hiring until Romney takes the oath of office.
8 posted on 10/07/2012 8:21:54 AM PDT by American Constitutionalist
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To: C. Edmund Wright

I see here a great opportunity for Romney.

Every news report on the <8% unemployment rate followed it up by mentioning that people are falling off the unemployment rolls.

I saw another analysis that said that there was a big jump in part time jobs.

Romney’s team could take those two factors and rip Obama to shreds (figuratively speaking, of course). Fewer workers + more people trying to survive on part time jobs = win for Romney. If he takes advantage of it.


9 posted on 10/07/2012 8:22:21 AM PDT by exDemMom (Now that I've finally accepted that I'm living a bad hair life, I'm more at peace with the world.)
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To: C. Edmund Wright

*


10 posted on 10/07/2012 8:33:23 AM PDT by PMAS (All that is necessary for the triumph of evil is that good men do nothing)
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To: C. Edmund Wright

This is pretty simple, really.
You get yourself a (D) donor list of unemployed, call them and ask if they cut the lawn this summer or if they did the dishes this week.

Define lawn mowing and dishwashing as an official part-time job and voila!, ya just got yerself 800,000 new employees.


11 posted on 10/07/2012 8:43:48 AM PDT by jakota (jakota)
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To: C. Edmund Wright
As predicted, the administration has corrupted the unemployment numbers to the point where most people now consider them worthless.

And of course that was their intention in the first place. By destroying familiar benchmarks it becomes possible to disorient people into accepting a "new normal".

12 posted on 10/07/2012 8:49:39 AM PDT by oldbrowser (An empty chair attracts a stadium full of empty chairs.)
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To: Texas Fossil

My understanding that part time number of 600,000 came from calling 50,000 households. So from those 50,000 households they were able to project (cook) that 600,000 more people were employed part time?


13 posted on 10/07/2012 8:51:12 AM PDT by Red_Devil 232 (VietVet - USMC All Ready On The Right? All Ready On The Left? All Ready On The Firing Line!)
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To: Texas Fossil

With due respect, I disagree that’s a “better” explanation. It is correct, but it is actually confusing the main issue.

The MAIN ISSUE here is the shrinkage of the “workforce participation.” It is THIS that allows a worsening economy to improve ‘statistically.” The seasonal adjustments, the U6, are correct - but distractions from the real issue - which is U3 is REALLY 11% (and U6 is close to 20) - if workforce participation had not been lied about.


14 posted on 10/07/2012 8:56:29 AM PDT by C. Edmund Wright ("You Might Be a Liberal" (YMBAL) Coming out Sept 1 by C. Edmund Wright)
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To: C. Edmund Wright

I would put Obama’s legacy at a more fundamental level:

He has taught us that breaking the laws don’t matter.
That lying is ok
That oaths are just words with no meaning
There is no such thing as honor
That religion takes a backseat to government
We are no longer one nation under God.
It is every man for himself...

sad...


15 posted on 10/07/2012 9:34:15 AM PDT by mike_9958
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Comment #16 Removed by Moderator

To: American Constitutionalist; stephenjohnbanker; M. Espinola; blam; SwinneySwitch; ...
Then there is this . . .

Largest Economy in The World is Imploding Right Before Our Eyes

17 posted on 10/07/2012 10:38:14 AM PDT by ex-Texan (The Time to "Wake Up" is Over !)
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To: mellow velo
One thing (among many things) that nobody in the Obama administration seems to have figured out is that they can spin numbers all they want, or fabricate "workers" and/or eliminate "unemployed workers" in the unemployment rate all they want ... but there's simply no way to convince an unemployed American that he or she has a job.

This is what Obama is ultimately going to have to answer for in November. That dopey performance we saw in the debate the other night is a clear indication to me that he knows this damn well.

18 posted on 10/07/2012 12:11:08 PM PDT by Alberta's Child ("If you touch my junk, I'm gonna have you arrested.")
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To: ex-Texan

Dumbed down Obama fanatics muppet show.


19 posted on 10/07/2012 7:09:46 PM PDT by American Constitutionalist
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To: Gay State Conservative
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20 posted on 10/07/2012 7:12:41 PM PDT by American Constitutionalist
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To: Red_Devil 232

Statistically, yes.


21 posted on 10/07/2012 9:27:13 PM PDT by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one)
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To: C. Edmund Wright

Your point is exactly the adjustment that shadowstats is showing.

The real U-6 unemployment figure is almost 23%.

That is what the Commie Bastard is hiding.

Figures do not Lie, but Liars Figure.


22 posted on 10/07/2012 9:30:08 PM PDT by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one)
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To: C. Edmund Wright

“The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.”

http://www.shadowstats.com/alternate_data/unemployment-charts


23 posted on 10/07/2012 9:32:53 PM PDT by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one)
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To: C. Edmund Wright

Obama was inaugurated in Jan of 09.


24 posted on 10/07/2012 10:03:50 PM PDT by Delta Dawn (The whole truth.)
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To: Delta Dawn

I realize that. What was your point?


25 posted on 10/08/2012 2:09:09 AM PDT by C. Edmund Wright ("You Might Be a Liberal" (YMBAL) Coming out Sept 1 by C. Edmund Wright)
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To: C. Edmund Wright

You wrote:

‘yes December of 09 prior to Obama’s inauguration but after his election ‘

Your timeline cannot be correct.


26 posted on 10/08/2012 7:42:43 AM PDT by Delta Dawn (The whole truth.)
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To: Delta Dawn

December of 08 is what I meant - good catch. Damn ADD.


27 posted on 10/08/2012 8:14:27 AM PDT by C. Edmund Wright ("You Might Be a Liberal" (YMBAL) Coming out Sept 1 by C. Edmund Wright)
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To: C. Edmund Wright

So....how can over 873,000 people come off the unemployment line......when
there were only a little over 114,000 jobs created?????

How the heck do I know!

BUT, luckily I found a transcript of a conversation between two “eminent
economists” discussing this very question!

COSTELLO: I want to talk about the unemployment rate in America.

ABBOTT: Good Subject. Terrible Times. It’s 7.8%.

COSTELLO: That many people are out of work?

ABBOTT: No, that’s 14.7%.

COSTELLO: You just said 7.8%.

ABBOTT: 7.8% Unemployed.

COSTELLO: Right 7.8% out of work.

ABBOTT: No, that’s 14.7%.

COSTELLO: Okay, so it’s 14.7% unemployed.

ABBOTT: No, that’s 7.8%.

COSTELLO: WAIT A MINUTE. Is it 7.8% or 14.7%?

ABBOTT: 7.8% are unemployed. 14.7% are out of work.

COSTELLO: IF you are out of work you are unemployed.

ABBOTT: No, Obama said you can’t count the “Out of Work” as the unemployed.
You have to look for work to be unemployed.

COSTELLO: BUT THEY ARE OUT OF WORK!!!

ABBOTT: No, you miss his point.

COSTELLO: What point?

ABBOTT: Someone who doesn’t look for work can’t be counted with those who
look for work. It wouldn’t be fair.

COSTELLO: To whom?

ABBOTT: The unemployed.

COSTELLO: But they are ALL out of work.

ABBOTT: No, the unemployed are actively looking for work. Those who are out
of work gave up looking and if you give up, you are no longer in the ranks
of the unemployed.

COSTELLO: So if you’re off the unemployment roles that would count as less
unemployment?

ABBOTT: Unemployment would go down. Absolutely!

COSTELLO: The unemployment just goes down because you don’t look for work?

ABBOTT: Absolutely it goes down. That’s how Obama gets it to 7.8%. Otherwise
it would be 14.7%. He doesn’t want you to read about 14.7% unemployment.

COSTELLO: That would be tough on his reelection.

ABBOTT: Absolutely.

COSTELLO: Wait, I got a question for you. That means there are two ways to
bring down the unemployment number?

ABBOTT: Two ways is correct.

COSTELLO: Unemployment can go down if someone gets a job?

ABBOTT: Correct.

COSTELLO: And unemployment can also go down if you stop looking for a job?

ABBOTT: Bingo.

COSTELLO: So there are two ways to bring unemployment down, and the easier
of the two is to have Obama’s supporters stop looking for work.

ABBOTT: Now you’re thinking like the Obama Economy Czar.

COSTELLO: I don’t even know what the hell I just said!

ABBOTT: Now you’re thinking like Obama.


28 posted on 10/08/2012 8:22:25 AM PDT by csmusaret (I will give Obama credit for one thing- he is living proof that familiarity breeds contempt.)
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To: csmusaret

You were busy - but I must ask you to change your 7.8 to 11, and your 14 to 20.

That is more accurate, and that IMO is the crux of the issue.


29 posted on 10/08/2012 8:32:06 AM PDT by C. Edmund Wright ("You Might Be a Liberal" (YMBAL) Coming out Sept 1 by C. Edmund Wright)
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To: csmusaret
That's awesome.

Somebody needs to film your Who's On First transcript (in black & white with the Abbott character in a St. Louis Wolves uniform.

30 posted on 10/08/2012 8:32:24 AM PDT by Sideshow Bob
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To: C. Edmund Wright

I figured you did mean 08, but I hurt my brain spending 20 minutes trying to make Dec 09 come before Jan 09. :)


31 posted on 10/09/2012 9:12:20 AM PDT by Delta Dawn (The whole truth.)
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