Saturday, February 18, 2012

Economy and the Unemployment Numbers - #3666 - Rush Limbaugh: The Real Unemployment Numbers (2) Gallup Poll Suggests Spike in Unemployment for February - Hot Air

The rate of unemployment in the United States has exceeded 8 percent since February 2009, making the past three years the longest stretch of high unemployment in this country since the Great Depression. Moreover, the Congressional Budget Office (CBO) projects that the unemployment rate will remain above 8 percent until 2014." "The official unemployment rate excludes those individuals who would like to work but have not searched for a job in the past four weeks as well as those who are working part-time but would prefer full-time work." They also say, by the way, the CBO, that the real unemployment rate will hit 15%. That's the U6 number. That counts everybody. That's another thing when we talk about unemployment, the U3 is what's reported every month. And that leaves people out who have stopped looking. Why would they leave that group of people out when calculating unemployment? It's not just this regime. This has been going on for decades. Why would they do it? You've got people who were looking for work, over three or four years, they didn't find any, so they've given up. They're still not working, but all because they say they're not looking anymore. "Well, they're not unemployed, they're not even looking for work." They certainly are unemployed. They're not working. Why leave the number out in what's reported? Why hide it in some other category? The answer is obvious. To provide less pressure on whoever happens to be running the government at the time, whichever political party is in charge of things. Read entire article.......

Gallup Poll Suggests Spike in Unemployment for February - Hot Air - Barack Obama has had some good news on the employment front the last couple of months. Net job creation has outpaced population growth, although not nearly enough to make a dent in the chronically unemployed, and economic indicators have mostly been positive if unspectacular. Gallup’s latest mid-month survey on employment shows potential storm clouds on the horizon, however:  The U.S. unemployment rate, as measured by Gallup without seasonal adjustment, is 9.0% in mid-February, up from 8.6% for January. The mid-month reading normally reflects what the U.S. government reports for the entire month, and is up from 8.3% in mid-January. …  Underemployment, a measure that combines the percentage of workers who are unemployed with the percentage working part time but wanting full-time work, is 19.0% in mid-February. This is higher than the 18.7% recorded for January, and is up significantly compared with January’s mid-month reading of 18.1%.  Read more..........

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