Early in
April, the latest unemployment numbers were released,
and while they were somewhat positive on the surface, it's what
underlies those numbers that is significant. What the government uses
to broadcast as their unemployment numbers is the U-3 (Total
unemployed, as a percent of the civilian labor force (official
unemployment rate)). These numbers are
important, but did you now there are three
other sets of numbers (U-4; U-5; and U-6) that tell the actual
story of the labor force in this country?
“Total nonfarm payroll employment rose by 192,000 in March, and the
unemployment rate was unchanged at 6.7 percent” - from the latest report. Sounds OK, doesn't it? Read on...
To thoroughly judge how the job-market is doing, you also have to look at what's called the “labor force participation rate.” The labor force participation rate is the percentage of working-age persons in an economy who: 1.) Are employed. 2.) Are unemployed but looking for a job. The typical U.S. participation rate is 67-68%.
During the last 5 years of the Bush Presidency, the labor participation rate stayed fairly steady, never dipping below 65.8%. Isn't it funny how the rate has done almost nothing but drop under King DingleBarry? Today it stands at 63.2%, up very slightly from the 62.8% which the lowest rate yet under King DingleBarry, as well as the lowest since Carter was in office (and we all know just how well that time period went). The only reason the U-3 numbers are dropping is because people who give up looking for work are no longer counted as unemployed. Hmmm. Funny how the MSM just keeps conveniently overlooking these little facts, isn't it?
Here is a chart of the labor participation rate from the Bureau of Labor Statistics website.
To learn more about the labor participation rate, I highly recommend this article.
The true unemployment rate can only be taken from the U-6 numbers, as it's the only set that actually counts those who have stopped looking, but are ready and willing to work. March's U-6 numbers: 12.7% – up slightly from February's 12.6% – is only down 0.1% from this time last year. Does that really sound like the job market is improving a great deal?
Let's not mention how almost 77% of new jobs created since this “recovery” started are part-time, thanks to that monstrosity not-so-affectionately known as 0bamadontcare.
These numbers can't be denied, nor are any of them fabricated. These are the numbers released by the government itself. That being said, I have just one question to ask - Still think King DingleBarry is good for the economy, you liberal buffoons? ~ Hunter
The complete chart most people never see.
(U-6: Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force) NOTE: Persons marginally attached to the labor force are those who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the past 12 months. Discouraged workers, a subset of the marginally attached, have given a job-market related reason for not currently looking for work. Persons employed part time for economic reasons are those who want and are available for full-time work but have had to settle for a part-time schedule.
“Total nonfarm payroll employment rose by 192,000 in March, and the
unemployment rate was unchanged at 6.7 percent” - from the latest report. Sounds OK, doesn't it? Read on...
To thoroughly judge how the job-market is doing, you also have to look at what's called the “labor force participation rate.” The labor force participation rate is the percentage of working-age persons in an economy who: 1.) Are employed. 2.) Are unemployed but looking for a job. The typical U.S. participation rate is 67-68%.
During the last 5 years of the Bush Presidency, the labor participation rate stayed fairly steady, never dipping below 65.8%. Isn't it funny how the rate has done almost nothing but drop under King DingleBarry? Today it stands at 63.2%, up very slightly from the 62.8% which the lowest rate yet under King DingleBarry, as well as the lowest since Carter was in office (and we all know just how well that time period went). The only reason the U-3 numbers are dropping is because people who give up looking for work are no longer counted as unemployed. Hmmm. Funny how the MSM just keeps conveniently overlooking these little facts, isn't it?
Here is a chart of the labor participation rate from the Bureau of Labor Statistics website.
To learn more about the labor participation rate, I highly recommend this article.
The true unemployment rate can only be taken from the U-6 numbers, as it's the only set that actually counts those who have stopped looking, but are ready and willing to work. March's U-6 numbers: 12.7% – up slightly from February's 12.6% – is only down 0.1% from this time last year. Does that really sound like the job market is improving a great deal?
Let's not mention how almost 77% of new jobs created since this “recovery” started are part-time, thanks to that monstrosity not-so-affectionately known as 0bamadontcare.
These numbers can't be denied, nor are any of them fabricated. These are the numbers released by the government itself. That being said, I have just one question to ask - Still think King DingleBarry is good for the economy, you liberal buffoons? ~ Hunter
The complete chart most people never see.
(U-6: Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force) NOTE: Persons marginally attached to the labor force are those who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the past 12 months. Discouraged workers, a subset of the marginally attached, have given a job-market related reason for not currently looking for work. Persons employed part time for economic reasons are those who want and are available for full-time work but have had to settle for a part-time schedule.
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