lonewolf
Banned
- Joined
- Sep 30, 2012
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Problematic for President Obama is that no president has ever been reelected with an unemployment rate higher than 8.0% at the time of his second election. The latest national unemployment rate – which was released last Friday – is 8.2%. Furthermore, there are only a short time until Americans go the ballot box, and economic statisticians bluntly say that there is no way in hell anything’s going to change before the end of the year.
The government's most widely publicized unemployment rate measures only those who are out of a job and currently looking for work. It does not count discouraged potential employees who have quit looking, nor those who are underemployed wanting to work full-time but forced to work part-time.
The Obama administration, is telling us that the unemployment rate has been slowly coming down over the past couple of years. But is that actually true? When you take a closer look at the data you quickly realize that the real unemployment numbers are much worse than we are being told. For example, if the labor force participation rate was the same today as it was back when Barack Obama first took office, the unemployment rate in the United States would be a whopping 11.2%.
I bet all of a sudden the unemployment rate will drop to around 7.9% (not in fact) but for political reasons.
The government's most widely publicized unemployment rate measures only those who are out of a job and currently looking for work. It does not count discouraged potential employees who have quit looking, nor those who are underemployed wanting to work full-time but forced to work part-time.
The Obama administration, is telling us that the unemployment rate has been slowly coming down over the past couple of years. But is that actually true? When you take a closer look at the data you quickly realize that the real unemployment numbers are much worse than we are being told. For example, if the labor force participation rate was the same today as it was back when Barack Obama first took office, the unemployment rate in the United States would be a whopping 11.2%.
I bet all of a sudden the unemployment rate will drop to around 7.9% (not in fact) but for political reasons.