Most of us have lived in a 4.9% unemployment economy. In general, times when unemployment rates are below 6% are considered full employment and at 4.9% unemployment labor markets are tight and the economy is starting to overheat.
This is not what we are seeing.
The unemployment rates are “low” because the only take into account people on unemployment and , after people drop off the 99 weeks of extended unemployment and still can't find a job, they are miraculously no longer considered unemployed and dropped from the rolls of those officially unemployed.
In Orwellian Obama speak, unemployed workers still unable to find a job after exhausting two years of already extended (a one year extension over the original one year before Obama) unemployment benefits are dropped off the payment rolls and no longer counted as unemployed in government statistics.
Where did the go when unemployment ran out?
President Obama instructed that they, able bodied workers, be fraudulently enrolled in Social Security Long Term Disability to hide them from the public and keep them from standing in 1930s style street soup lines.
The number of Americans receiving Social Security disability has nearly DOUBLED since Obama took office, an increase of around seven million recipients, most of whom are able bodied workers enrolled by President Obama when their unemployment ran out.
The current government head count on the “official” number of unemployed is 7.8 million to 5% unemployment so if we simply add the 7 million out of work able bodied unemployed workers who have simply been reclassified as disabled instead of unemployed warehoused and hidden in the Social Security Disability Program we get an automatic re adjustment of the true unemployment rate up to just under 10%.
Add the fact that a minority of the long term unemployed workers chose to falsely claim they were disabled in order to begin receiving Social Security Disability benefits when their 99 weeks of extended unemployment benefits expired and the true unemployment rate in this economy is more in the 12 - 20% range simply based on recently laid off workers and has been throughout the entire 7 years of the Obama Administration.
Ironically, President Obama would not be able to get away with these lies about the unemployment rate unless the economy was providing him with a steady stream of laid off workers because without a steady stream of laid off workers entering the Unemployment Insurance system to fill the void of those discouraged workers who are falling off the rolls after running out the clock on their 99 weeks of extended payments the official government unemployment rate would fall to close to zero percent, exposing the scam for what it is
Under the Labor Department's current reporting scam, the worse Obama does economically, the better he looks on paper .and the easier it is for the President to get way with his lies about his job performance
Good analysis.
Baraq proved in 2012 that entitlements can buy an election no matter how bad your job performance is.