Monday, July 9, 2012
Obama's Labor Department Misleads Nation On Real Unemployment Numbers
Unemployment rate is not 8.3% - Tea Party Tribune: "An unprecedented 1.2 million people left the workforce last month. These people are not being counted in the unemployment numbers and to large degree caused the drop in the unemployment rate. In the same month that Obama is patting himself on the back and crediting his economic policies for jump-starting the recovery, “the labor force increased from 153.9 million to 154.4 million, the non institutional population increased by 242.3 million meaning, those not in the labor force surged from 86.7 million to 87.9 million” (http://bit.ly/xY6q9i).
This is the largest jump of people no longer in the labor force in 30 years. The Washington Post reported that if the unemployment rate counted the 2.8 million total people who want jobs but have stopped looking, it would sit at 9.9% rather than 8.3%. Additionally, if you were to count the under-employed, the real overall unemployment rate would stand at between 15-18% (http://bit.ly/xAhK8U)."
'via Blog this'