The unemployment rate game
We’re heading into the holiday season at the end of another tough year. BarryO and his mainstream media allies realize they are a mere 11 months away from a devastating electoral defeat of historical proportions. They NEED some good news.
Well, we’re getting hit with their “good news” this week: a drop in the unemployment rate from 9.0% to 8.6%. “We’re recovering! Things are getting better! Right? Um … right?”
Well, Bloomberg News is raining on BarryO’s parade:
The unemployment rate, derived from a separate survey of households, was forecast to hold at 9 percent. The decrease in the jobless rate reflected a 278,000 gain in employment at the same time 315,000 Americans left the labor force.
“While the rate is certainly a very favorable rate, I would highlight that a lot of it is because people pulled out of the workforce,” Eric Rosengren, president of the Federal Reserve Bank of Boston, said in a speech yesterday. Rosengren said in a Nov. 16 speech that the central bank still has power to boost the economy through lower interest rates.
So, gaining 278,000 jobs while losing 315,000 jobs is a GOOD THING ???? Professor Limbaugh at the EIB Institute for Conservative Studies, threw in his two cents on this subject Friday:
Well, Happy Holidays. They don’t do Merry Christmas in the media. But we’re back, it’s done, they got the headline: “Unemployment, 8.6%!” Now, the truth of the matter is — and Bloomberg News even points out that the only way — it’s a corrupt number. It is a corrupt number. Folks, the number of people who have quit looking for work in the last few weeks is 315,000. Those are the people have thrown up their hands after 99 weeks or more of being unemployed; and they’ve said, “I’m quitting. I’m not looking.” So they’re not counted. Therefore, the universe of jobs available in the country is down by 315,000. That is the labor force participation rate. The labor force participation rate is a meager 64%. It fell to 64% from 64.2%. So the 0.2% drop equals 315,000 people leaving the workforce.
That means there are 315,000 fewer jobs to have, so the universe of jobs has been steadily shrinking. What was the number of jobs created? It’s 120,000 jobs. It’s 120, 126,000, whatever. That’s in the ballpark. That number of jobs created can lower unemployment rate 0.4%, almost one half of a percent? Creating 120,000 new jobs can do that? That alone tells us how small the labor force participation rate is. That tells us how small the universe of available jobs in the country is, when creating 120,000 — and we still have, don’t forget, over 400,000 applications for unemployment compensation reported yesterday. So just 120,000 new jobs can lower the unemployment rate almost a half a point. That’s not possible without that 315,000 figure, the 315,000 people who have just walked away.
Bloomberg News is even reporting this means that more people left the workforce than got jobs. Now, stop and think of this. More people left the workforce than got jobs, and the unemployment rate goes down? We’re dealing here with a serious form of corruption, manipulation of data; but, we all knew it was coming. After all, we’re talking about the regime. We knew this was coming. We know the fact, we know the histoire, that no president’s been reelected with an unemployment rate higher than 8%. So here we are 11 months away from the next election, voila! Heading into the Christmas, slash, holiday season, and we’re at 8.6%, the 0.6 doesn’t matter, we’re at 8%. And the media is having orgasms out there, O-gasms.
Well, Happy Holidays. They don’t do Merry Christmas in the media. But we’re back, it’s done, they got the headline: “Unemployment, 8.6%!” Now, the truth of the matter is — and Bloomberg News even points out that the only way — it’s a corrupt number. It is a corrupt number. Folks, the number of people who have quit looking for work in the last few weeks is 315,000. Those are the people have thrown up their hands after 99 weeks or more of being unemployed; and they’ve said, “I’m quitting. I’m not looking.” So they’re not counted. Therefore, the universe of jobs available in the country is down by 315,000. That is the labor force participation rate. The labor force participation rate is a meager 64%. It fell to 64% from 64.2%. So the 0.2% drop equals 315,000 people leaving the workforce.
That means there are 315,000 fewer jobs to have, so the universe of jobs has been steadily shrinking. What was the number of jobs created? It’s 120,000 jobs. It’s 120, 126,000, whatever. That’s in the ballpark. That number of jobs created can lower unemployment rate 0.4%, almost one half of a percent? Creating 120,000 new jobs can do that? That alone tells us how small the labor force participation rate is. That tells us how small the universe of available jobs in the country is, when creating 120,000 — and we still have, don’t forget, over 400,000 applications for unemployment compensation reported yesterday. So just 120,000 new jobs can lower the unemployment rate almost a half a point. That’s not possible without that 315,000 figure, the 315,000 people who have just walked away.
Bloomberg News is even reporting this means that more people left the workforce than got jobs. Now, stop and think of this. More people left the workforce than got jobs, and the unemployment rate goes down? We’re dealing here with a serious form of corruption, manipulation of data; but, we all knew it was coming. After all, we’re talking about the regime. We knew this was coming. We know the fact, we know the histoire, that no president’s been reelected with an unemployment rate higher than 8%. So here we are 11 months away from the next election, voila! Heading into the Christmas, slash, holiday season, and we’re at 8.6%, the 0.6 doesn’t matter, we’re at 8%. And the media is having orgasms out there, O-gasms.
….
Let me give you another way of illustrating what the regime did to get to this unemployment number, and it is very similar to how baseline budgeting works. Another way of looking at this is this. You had 120,000 jobs that were created. You have 315,000 people who dropped out. What you do is add those together and you get a number 435,000, and that 435,000 the government today says are no longer unemployed. So 435,000 jobs created… No. No, no. Let’s not go that far. So, 435,000 people no longer unemployed results in an unemployment rate dropping from 9.0 to 8.6. See how that works? This is what they do. This is what they did.
This is how it happens: 120,000 people find work, 315,000 quit looking; those 315,000 are no longer called unemployed. That’s the U3 clarification, qualification. U3 is made up of people looking for work and people who have lost their jobs and so forth. The 315,000 stop looking. They are added to those who are unemployed, and you get a grand total of 435,000. That’s how it happens.
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