The Clinton's administration changed the way we calculated the unemployment number in order to LOWER the unemployment rate under Slick Willie's administration. Bush kept it in place, because his numbers would have looked much worse. Now Obama is taking full advantage of this fucked up way of calculating the unemployment rate. Consider the following.
30 million people fall into the so-called leaving the workforce (because none of these people need to eat or pay the bills) or the under-employed group.
The Big Lie 5.6 Unemployment
None of them will tell you this: If you, a family member or anyone is unemployed and has subsequently given up on finding a job -- if you are so hopelessly out of work that you've stopped looking over the past four weeks -- the Department of Labor doesn't count you as unemployed. That's right. While you are as unemployed as one can possibly be, and tragically may never find work again, you are not counted in the figure we see relentlessly in the news -- currently 5.6%. Right now, as many as 30 million Americans are either out of work or severely underemployed. Trust me, the vast majority of them aren't throwing parties to toast "falling" unemployment.
This is what under-employed means!
There's another reason why the official rate is misleading. Say you're an out-of-work engineer or healthcare worker or construction worker or retail manager: If you perform a minimum of one hour of work in a week and are paid at least $20 -- maybe someone pays you to mow their lawn -- you're not officially counted as unemployed in the much-reported 5.6%. Few Americans know this.
Yet another figure of importance that doesn't get much press: those working part time but wanting full-time work. If you have a degree in chemistry or math and are working 10 hours part time because it is all you can find -- in other words, you are severely underemployed -- the government doesn't count you in the 5.6%. Few Americans know this.
Then you have the record number of people on social security disability. As of last year that number hit 11 million. Guess what, these people are NOT considered unemployed when calculating the number, they are treated the same way the longterm unemployed are treated -AS A POSITIVE NUMBER IN THE UNEMPLOYMENT RATE!!! Any keep this in mind, SS Disability pays DICK! These people are living in poverty!
Record-breaking 11M receive Social Security disability benefits New York Post
A record number of Americans — nearly 11 million — pocketed Social Security disability benefits last month, according to newly released government data.
The figure exceeds the total population of Greece, according to CNSNews.com, which first reported the statistic Tuesday.
38 year low labor participation rate! Back in the 60s and 70s there were a TON more stay-at-home mothers and at ton more people that retired in their 50s. Today it's much more common for both parents to work and it's much more common for people to put off retirement until their 70s and beyond. Yet we have record low labor participation rate!
Labor Participation Rate Drops To Fresh 38 Year Low Record 92.9 Million Americans Not In Labor Force Zero Hedge
Another month, another attempt by the BLS to mask the collapse in the US labor force with a goalseeked seasonally-adjusted surge in waiter, bartender and other low-paying jobs. Case in point: after a modest rebound by 0.1% in November, the labor participation rate just slid once more, dropping to 62.7%, or the lowest print since December 1977.
The ratio of part-time employment to full-time employment still remains higher pre-recession (aka before Obama), heck it remains highest since we started recording this number in 1968.
Ratio of Part-Time Employed Remains Higher Than the Pre-Recession Level
The Labor Department has been collecting this since 1968, a time when only 13.5% of US employees were part-timers. That number peaked at 20.1% in January 2010. The latest data point, approaching five years later, is only modestly lower at 18.7% last month. If the pre-recession percentage is a recovery target, we still have a long way to go.
Sorry to burst the faux liberal bubble, but when you take the below list into effect, our economy and job market is a fuck mess and NOTHING to brag about.
(1) 30 million people in the so called leaving the work-force and under-employed group.
(2) 11 million people on SSN disability, record high.
(3) Highest ever part-time to full-time ratio
(4) Lowest work force participation in 38 years. 92 million people not participating.
Take in record food stamps and record welfare and you see a horrible job market!
Another nugget to chew on. 2/3 of the jobs created went to foreign born workers!
Two-Thirds of New Jobs Go to Legal Illegal Immigrants FrontPage Magazine
Run down the list why the economy is still in shambles:
(1) 30 million people in the so called leaving the work-force and under-employed group. That is roughly 10% of the population.
(2) 11 million people on SSN disability, record high.
(3) Highest ever part-time to full-time ratio
(4) Lowest work force participation in 38 years. 92 million people not participating.
(5) 2/3 of the job actually created went to foreign born workers!
Can sheeple like right-winger, rdean, Lully really say with a straight face the economy is great?
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