Skip to comments.New jobs numbers, same argument (More lies from Obama and the BLS)
Posted on 03/09/2012 1:37:27 PM PST by tobyhill
With the release each month of the job numbers, we see the two parties competing narratives. Democrats declare, Look at the job growth! The presidents policies are working! The Republicans say, You must be joking. Its been years since the first stimulus, and we are still above 8 percent unemployment.
Today that certainly played out. The Post reports: The nations unemployment rate remained unchanged at 8.3 percent in February despite better-than-expected job growth, according to government data released Friday. The Labor Department said that the economy added 227,000 jobs last month. Even with some improved job growth, it was not enough to move the needle on the overall jobless rate, one of the most closely watched indicators of the countrys economic health. And even more troubling, More than 5 million people have been unemployed for longer than six months, accounting for nearly 43 percent of those who are out of work, government data show.
Jim Pethokoukis of the American Enterprise Institute has another take, looking in detail at the job figures. He finds, If the size of the U.S. labor force as a share of the total population was the same as it was when Barack Obama took office 65.7% then vs. 63.9% today the U-3 unemployment rate would be 10.8%. In addition, he notes:
(Excerpt) Read more at washingtonpost.com ...
About half of these jobs are temporary or part-time, with low wages and no benefits.
The other half do not exist, they are fiction based upon the BLS’s “birth-dealth” model.
And that's the sanitized report. The real rate is close to twice 8 percent.
"Yes, I got two of 'em to make enough to match my old salary," said more than one person. I bet.
The U-6 numbers are the real unemployment numbers in my book which is in the 15% range right now.
I count about a dozen of my friends who are over 50, colleged educated and are either unemployed or earning less than half of what they did 3 years ago. Some of them votes for BHO last time but won’t this time.