O's Legacy? Unemployment Rate Now Meaningless (Stunning article predicts this many months ago)

American Thinker ^ | Dec 5, 2011 | C. Edmund Wright

[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.

[C. Edmund Wright]

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.

[American Constitutionalist]

No, not shameless, prophetic.....

[mellow velo]

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.

[C. Edmund Wright]

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...)

[Gay State Conservative]

There’s no lie that they won’t tell.

[Texas Fossil]

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.

[Texas Fossil]

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.

[American Constitutionalist]

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.

[exDemMom]

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.

[PMAS]

*

[jakota]

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.

[oldbrowser]

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".

[Red_Devil 232]

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?

[C. Edmund Wright]

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.

[mike_9958]

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...

[ex-Texan]

Then there is this . . .

Largest Economy in The World is Imploding Right Before Our Eyes

[Alberta's Child]

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.

[American Constitutionalist]

Dumbed down Obama fanatics muppet show.

[American Constitutionalist]

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