Gallup: In U.S., Unadjusted Unemployment at 7.3% in Mid-October, Underployment down to 16

http://www.gallup.com/poll/158060/unadjusted-unemployment-mid-october.aspx ^ | October 17th, 2012 | Jenny Marlar

[Abiotic]

Interesting angle. If the ‘official’ (officially BS that is) headline U-3 number does drop to 7.3%, then the fix is in, not just for the BLS being pushed around for partisan purposes to a degree heretofore never seen, but for the entire USA economic superstructure as well.

Imagine the cognitive dissonance set up in tens of millions of citizens’ heads as they are pummeled with the so-called fact that the UE rate is going back to ‘normal’ yet they, for the life of them, cannot find a job that supports them and their families.

The key is the workforce participation rate, which is dropping like a rock, and already at 60 year lows. Simply not counting people who have bogusly been removed from the labor force is NOT fixing the employment situation at all.

In addition, it sets up massive revenue issues, as these people are not paying income tax, and are now , at least many of them, on disability pay. Too many horses being taken from pulling the cart, and placed into it.

[xzins]

My guess is that part-time employment is exploding, and that is being picked up as full employment.

Romney must label it now as the “part time economy — won’t support your family, won’t support your dreams.”

I caught last month that major big box retailers were massively hiring part-time pre-holiday season. Target announced it was tripling its part time hiring this season. I noticed that Wal-Mart was doing bundling work for Obama.

Are major discount retailers raking it in under the obama regime? My guess is that as Americans drop closer to poverty that they are turning away from the quality department stores to the discount retailers.

Then we have all the other firms that are dropping current employees down to part-time and hiring new part-time. With part-time help, they don’t have near the burden of providing health care and other benefits. They’ve been boxed into a corner with ObamaCare, and Obama is creating a part-time economy — that won’t support your family and won’t support your dreams.