Real unemployment rate, Obama lies exposed, Labor force decline, 24 million Americans unemployed or underemployed, 5 million Americans fled workforce
“Guilford (Large NC County) appears on it’s way to a third consecutive year with annual jobless rates in double digits. Economists say that likely hasn’t happened since the Great Depression.”…Greensboro News Record December 2, 2011
“the Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones.”…George Orwell, “1984″
“And if all others accepted the lie which the Party imposed
–if all records told the same tale–then the lie passed into
history and became truth. “Who controls the past,” ran the
Party slogan, “controls the future: who controls the present
controls the past.”…George Orwell, “1984″
We have been warning of the Orwellian attempts by the Obama regime to paint a rosier picture of employment in this country for months.
From Citizen Wells December 3, 2011.
“The unemployment rate, derived from a separate survey of households, was forecast to hold at 9 percent. The decrease in the jobless rate reflected a 278,000 gain in employment at the same time 315,000 Americans left the labor force.
“While the rate is certainly a very favorable rate, I would highlight that a lot of it is because people pulled out of the workforce,” Eric Rosengren, president of the Federal Reserve Bank of Boston, said in a speech yesterday.”
“RUSH: I don’t want to be an I told you so, but I told you so, and I told you so five weeks ago. Gallup, every week, puts out their own unemployment numbers and Gallup has been signaling that this day unemployment below 9% was coming. They’ve been blatantly saying so, based on their own unemployment data, which is not related to the Bureau of Labor Statistics reports. It’s their own surveys; and in the last five weeks, occasionally they will say that their numbers that they come out with on a Wednesday or Thursday indicate that we’re getting very close to a Bureau of Labor Statistics unemployment number of under 9%. I said, “The regime needs this, and when we finally get to under 9%, it will be eight-point-something, but the point-what won’t matter. The only number that’s going to matter is the eight.”
“Well, Happy Holidays. They don’t do Merry Christmas in the media. But we’re back, it’s done, they got the headline: “Unemployment, 8.6%!” Now, the truth of the matter is — and Bloomberg News even points out that the only way — it’s a corrupt number. It is a corrupt number. Folks, the number of people who have quit looking for work in the last few weeks is 315,000. Those are the people have thrown up their hands after 99 weeks or more of being unemployed; and they’ve said, “I’m quitting. I’m not looking.” So they’re not counted. Therefore, the universe of jobs available in the country is down by 315,000. That is the labor force participation rate. The labor force participation rate is a meager 64%. It fell to 64% from 64.2%. So the 0.2% drop equals 315,000 people leaving the workforce.
That means there are 315,000 fewer jobs to have, so the universe of jobs has been steadily shrinking. What was the number of jobs created? It’s 120,000 jobs. It’s 120, 126,000, whatever. That’s in the ballpark. That number of jobs created can lower unemployment rate 0.4%, almost one half of a percent? Creating 120,000 new jobs can do that? That alone tells us how small the labor force participation rate is.”
From Forbes February 9, 2012.
“Don’t Be Fooled, The Obama Unemployment Rate Is 11%”
“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.”
“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.
The time has come to begin to raise questions about the precipitous decline in the labor force assumed by BLS. Are the career bureaucrats there partial to President Obama, and favorable towards promoting his political chances for reelection? Or has the Obama Administration placed someone in a leadership slot over at the BLS or the unemployment statistics branch that is imposing this assumed sharp decline? Because of the oddness of this record setting decline, coinciding with President Obama’s ascension to office, these questions bear further investigation.”
“But even with the steep decline in labor force participation, the BLS report for January still shows some horrific numbers more than 4 years after the start of the recession. Besides the 12.8 million unemployed, another 8.2 million were “employed part time for economic reasons.” The BLS explains that “These individuals were working part-time because their hours had been cut back or because they were unable to find a full-time job.”
Another 2.8 million “wanted and were available for work, and had looked for a job sometime in the prior 12 months,” but “were not counted as unemployed because they had not searched for work in the four weeks preceding the survey.”
That makes nearly 24 million Americans unemployed or underemployed. The unemployment rate in January counting them is not 11%, but 15.1% as reported by the BLS, a depression era level of unemployment.
For blacks, the unemployment rate was still 13.6%, even assuming another 350,000 African Americans dropping out of the labor force in January alone. For Hispanics, 650,000 were assumed to drop out of the work force in January alone, but the Hispanic unemployment rate was still in double digits at 10.5%.
For teenagers, the unemployment rate was still 23.2%, even though an additional 400,000 were assumed to have dropped out of the work force in January alone. For black teenagers, the unemployment rate was still nearly 40%.
Media and political discussions of Obama’s economic record suffer from at least two fundamental fallacies. One is that Obama’s record is to be measured by the progress made since the trough of the recession. Since that trough was so bad, of course the period since the trough is going to show some marked improvement. More important is how does that improvement compare to the prior peak before the recession? Have we caught up yet, and then continued to grow beyond that prior peak?”
“When President Obama entered office in January, 2009, the recession was already in its 13th month. His responsibility was to manage a timely, robust recovery to get America back on track again. What he gave us instead, with his outdated, throwback, Keynesian economics, is the worst economic recovery since the Great Depression. A recovery now, way too little, way too late, cannot go back and change that record. For that record of American suffering and despair, the voters will now hold Obama accountable.”
Thanks to commenter Zach.