Wednesday, September 21, 2011
Whats the Real Unemployment Rate?
Many of us depend on the government to be honest brokers of the truth when we look at the problems of the nation. How can we as citizens do our duty in a responsible way if all we get is disinformation or lies from our elected officials. Just look at the Unemployment rate and ask yourself if you know the government have been truthful with you on its reporting. A look at the facts show the government is using smoke and mirrors to distort the truth. That gimmicks in how they add up the numbers and exclude real facts completely distort the numbers.
Here is some information to consider and then you can decide if your goverment is telling you the real story or just misinformation.
Alternate Unemployment Charts
The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.
The U-3 unemployment rate is the monthly headline number. The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment.
Given this substantial increase in population every year, we might reasonably expect the civilian labor force to expand proportionally, as students graduate and new immigrants enter the workforce.
Yet according to the BLS, the civilian labor force was 153.8 million in January 2008 and 153.2 million in January 2011 -- a decline of 600,000 while the population increased by some 6 million. And the not-in-labor-force category expanded by 2 million from January 2010 to January 2011, from 83.4 million to 85.5 million.
How is this possible? When unemployed people stop looking for jobs at their local unemployment office, the government no longer counts them as unemployed. That's how the number of unemployed can drop from 15 million in November 2010 to 13.8 million in January 2011, a decline of 1.2 million, even though the economy created only about 400,000 jobs in those three months.
So do you think you getting the truth or just spin and twisted numbers designed to keep politicians in power? Just ask yourself this question... are you AND your neighbors better off with distortions of the truth?
Posted by David H. at 11:22 AM