Skip to comments.Don't Be Fooled, The Obama Unemployment Rate Is 11%
Posted on 02/10/2012 6:20:50 AM PST by SeekAndFind
When Barack Obama entered office in January, 2009, the labor force participation rate was 65.7%, meaning nearly two-thirds of working age Americans were working or looking for work.
When the recession supposedly officially ended in June, 2009, the labor force participation rate was still 65.7%.
In the latest, much celebrated, unemployment report, the labor force participation rate had plummeted to 63.7%, the most rapid decline in U.S. history. That means that under President Obama nearly 5 million Americans have fled the workforce in hopeless despair.
The trick is that when those 5 million are not counted as in the work force, they are not counted as unemployed either. They may desperately need and want jobs. They may be in poverty, as many undoubtedly are, with America suffering today more people in poverty than in the entire half century the Census Bureau has been counting poverty. But they are not even counted in that 8.3% unemployment rate that Obama and his media cheerleaders were so tirelessly celebrating last week.
If they were counted, the unemployment rate today would be a far more realistic 11%, better reflecting the suffering in the real economy under Obamanomics.
Just last month, while the Bureau of Labor Statistics reported finding 243,000 new jobs, they also reported in the same release that an additional 1.2 million workers had dropped out of the work force altogether, giving up hope under Obama. If labor force participation had remained the same in January, 2012 just as it was the month before in December, 2011, the unemployment rate would have risen to 8.7% in January rather than supposedly declining to 8.3% as reported.
(Excerpt) Read more at forbes.com ...
One year ago, 99 million Americans were unemployed or otherwise not working, and the unemployment rate was 9.1%. Today, while the reported unemployment rate is 8.3%, over 100 million Americans are unemployed or otherwise not working.
WILL THIS IMPROVE BY NOVEMBER?
MORE COMPARISONS FOR PERSPECTIVE ON THE DEPARTMENT OF LABOR FIGURES:
* In January, 2009, 11.6 million Americans were unemployed, with 23% of those unemployed for more than 6 months. By January, 2012, 12.8 million were unemployed, with 43% of those out of work more than 6 months.
* At the official end of the recession in June, 2009, America was 12.6 million jobs short of full employment. By January, 2012, we were 15.2 million jobs short, falling behind by another 244,000 in that month alone.
Of course it will. They'll just keep changing the formula and cooking the numbers until it's just a tad under 8%.
Jedi mind tricks plus creative bookkeeping equals good news for Urkel right before the election.
But if Santorum should win, be looking for the old formula to resurface.
I predict that it will appear to improve by November.
This is somewhat misleading. Last month's job report was the first to include population changes as indicated by the 2010 census. That adjusted both the labor force and non-labor force sizes.
Don't get me wrong, it's still bad, but that "1.2 million" number shouldn't get bandied about so much because it can and will be counter-attacked factually, which obscures the real issue: the plummeting labor participation rate due to lack of jobs.
WILL THIS IMPROVE BY NOVEMBER?
No, because the Marxist wants people unemployed so they become completely dependent on the government and will vote for the Marxist so they don’t lose benefits. In essence become slaves to the Treason party.
Zeros version of fuzzy math.
A total of 4.7 million people have stopped looking for work since the Inauguration of Obama. Added to the 12.7 million, the total of unemployed is 17.4 million without work or about 11%.
When one adds in the 10.5 million who are working part time but would like to be working full time, we have 28 million who are unemployed or underemployed. This is an unemployment rate of 17%.
I was doing to say 17.5%. Only 67% of those unemployed are looking for work.
RE: Don’t Be Fooled, The Obama Unemployment Rate Is 16.3%
Just curious, where are you getting that number from?
Doesn't matter. It's all about making it appear to improve, just as the BLS has nudged down the "unemployment rate" for several months now.
Facts be damned, there's a re-election to win.
Five million Americans are so completely vanished that the lamers in the lamestream media haven’t yet found one of them to interview. Personally, I think all 5 million are living on their massive lotto winnings in places like Costa Rica.
Somehow, Øbama will try and convince us those two ones equal 2 and he’s very pleased with this accomplishment...
F U B O
We all know the deceptive nature of marxist tyrants using relative numbers (percentages) instead of absolute figures.
The Republican nominee should absolutely use absolute numbers when talking about unemployment. Two percent doesn’t sound like much until you mention that it’s 11 million.
I'm with you. That's a more realistic number.