Posted on 09/28/2015 5:47:46 PM PDT by 2ndDivisionVet
The official U.S. unemployment rate is 5.1% -- the lowest in seven years -- but Donald Trump calls that a "joke."
On Monday, he claimed he'd seen numbers that show America's real unemployment rate is as high as 42%.
How does he arrive at such a wild figure?
Trump appears to be looking at the number of American adults not working. Period.
Out of about 251 million American adults, roughly 102 million -- or 40.6% -- aren't working.
But, of course, there are a lot of reasons people don't work. They could be disabled, in college, at home raising kids or retired.
And you wouldn't include those groups in the unemployment rate, which tries to capture how many people are actively looking for work and can't find it....
(Excerpt) Read more at money.cnn.com ...
It’s not “his” claim. It is the claim of a number of trained economists, including David Stockman.
What is really a joke is the 5.1% figure.
Even if you don’t like DT, you gotta give him some credit for saying these type of things...
The real effing joke is I made the same claim earlier this year, offering a myriad of reasons why someone isn’t working but, that the “Labor Participation Rate” is at its lowest in 40 years!
That shouldn’t be true, in a growing economy.
The Donald would be closer to “correct”
Reality Check: What’s the Real Unemployment Rate in the U.S.?
http://www.freerepublic.com/focus/f-news/3300876/posts
Based on income, I set the fully employed rate at 60%, and the marginally employed/unemployed rate at 40%. If we accept the BLS’s 121 million full-time jobs (which once again, this doesn’t make sense given even minimum wage full-time jobs earn $14,500, and 50 million people report earnings of less than $15,000), we still get a marginally employed/unemployed rate of 25%: work force of 160 million, 121 million fully employed.
I think his point is that the unemployment numbers don’t include those who quit looking for a job. Wonder how many of those are on welfare.
Prob not 42%, def not 5.1%
Of course, CNN wants to ignore those who have given up. I'm surprised they don't argue that we should only count people who actively looked for work the previous business day.
This might get people to start thinking about how the official unemployment number is calculated. They may see it is a farce.....
or not..
Trump did NOT state that unemployment was at 40%. He merely stated that ONE EXPERT told him it could be as high as 40%.
Trump did say that the 5-6% being touted by the government was a joke (and I think we all agree there). Trump said that he thought it was closer to 20%.
So Trump said it was more around 20% - not 40%!
Again, the MSM is trying to construct a false narrative and even people here are falling for it.
I don’t care if Ronald Reagan were in office...the government compiling statistics on its own performance is laughably absurd.
It’s akin to giving the scoreboard controls to an NFL coach and telling him ‘keep it fair.’
The numbers are fraudulent and so are the media who, despite billions invested in personnel, technology and facilities, simply parrot the official line. The North Korean state broadcasters have equal credibility.
It matters little WHY some one is not working at a job. What does matter is that he/she must be supported by tax dollars from those who do bother to drag their azz to work every day. Because most of those without job are not independently wealthy. Most receive free assistance from government.
Since government does not have a money tree, others who work must carry the load via higher taxes.
Unemployment is at 5.1 percent and HOW MANY people are on food stamps? welfare? housing assistance?
should be slashed dramatically compared to 6 years ago...
The media has a section of people who are completely trying to knock Trump down a notch or two.
Probably Bush supporters, and probably on the Bush dole.
It’s funny.
STOCKMAN’S BEST OF THE WEEK, STOCKMAN’S CORNER
The Warren Buffett Economy——Why Its Days Are Numbered (Part 4)
http://davidstockmanscontracorner.com/the-warren-buffett-economy-why-its-days-are-numbered-part-4/
15JUN2015
(excerpt)
At the present time, there are 210 million adult Americans between the ages of 16 and 68—to take a plausible measure of the potential work force. That amounts to 420 billion potential labor hours, if we accept the convention that all adults are at least theoretically capable of holding a full-time job (2,000 hours/year) and pulling their share of society’s need for production and work effort.
By contrast, during 2014 only 240 billion hours were actually supplied to the US economy, according to the BLS estimates. Technically, therefore, there were 180 billion unemployed labor hours, meaning that the real unemployment rate was 42.9%, not 5.5%!
We are only 20 trillion is debt. What could possibly be wrong?
WRONG!
Nothing But Nothing Will Ever Make A TRUMP Hater Say A Nice Thing About Him!
IF Trump Would Walk On Water They'd Say, "SEE, He Can't Even Swim".
Yes exactly, Trump did not say the unemploymen rate was at 42% he just said he has heard well respected economists state that. To claim otherwise is just a sad attempt by a biased media to distort the truth.
In college and grad school: about 20 million
Housewives: about 20 million
Retired, under 65: about 10 million
In jail: about 2.5 million
That accounts for a lot of them.
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