Labor Force and Unemployment Rate Adjusted for Population Growth Since 1948 Show Falling Unemployment Rate is “Statistical Mirage.” It seems for the first time since 1948, the size of the labor force has flat-lined (actually shrunk) for the past 3 years. “Those who think the economy is improving based on the falling unemployment rate are looking at a statistical mirage based on an extremely atypical and prolonged drop in the labor force.” Well, mirages are all they have.
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And just this morning they are reporting that the alleged drop in unemployment is actually the result of more people no longer looking for work, and therefore no longer being counted.
With the first time unemployment claims keep up at the current rate of 300,000 to 400,000 per week, how long will it take for us to reach full unemployment? ;-)
Hey at least this administration didn’t take the Bolsheviks plan for the unemployed, yet.
I learned in Statics class you can make the numbers say anything you wish any time you want.
If the unemployment figure were real news, then the stock market would have rallied that day. It didn't.
All the unemployment numbers are skewed. They look at such a narrow qualifing list that many unemployed are conveniently uncounted. We are closer to 20-22% when EVERYONE is counted. Close to the 25% at the tail end of the Great Depression. I swear, read the history. THis is the SAME THING! They are trying to reassure everyone by calling it a recession, but it isn't. And it isgoing to take more that the Christmas shopping season (and temporary hires) to fix it.
"If the labor force participation rate were back at its January 2009 level, the U-3 rate (the headline number) would be 11.0 percent."
http://blog.american.com/2011/12/november-jobs-report-7-reasons-why-its-better-but-still-terrible/
That's what I thought, so what effect would extending unemployment benefits again have on the U-3 rate? We all know the U-6 rate is closer to 20 percent however.
Once again figures don't lie, but liars can figure. Still haven't figured out how the initial claims for unemployment were over 400K, but the rate dropped. Or was it because the number of people who have dropped off due to exhausting their benefits?