Michelle’sMirror: When the government jobs and economy report was released last Friday, it wasn’t quite as rosy as we’ve been led to believe:
Economist Herbert Stein famously observed, “If something cannot continue, it will stop.” Given other readings on the economy, the rapid growth in jobs that was reported by the Bureau of Labor Statistics (BLS) for 4Q2015 and 1Q2016 could not continue. So, in April, it stopped. [ed. in other words, we lied about jobs growth,again.]
Friday’s BLS “Employment Situation” report was terrible. FTE* employment fell by 296,000, and America moved 376,000 FTE jobs farther away from full employment, bringing our total FTE jobs shortfall up to 12.9 million.
Well people that have never had a job probably have no clue on how to create them. I’m amazed these DFL’s are controlling our destiny. It’s actually Freaken amazing.
cow
Here’s a question for anyone and everyone who’s smarter than me regarding math:
If there are 320 million people in the USA….
and 94 million of them are out of work……
how can one deduce that there’s only 5% unemployment?
_______________________
Now factor in everyone in that 320 million either too old or too young to work.
According to my math, 94 / 320 = 29.237 % unemployment rate before fine tuning.
Adding in the variable of the too old / too young and the percentage only INCREASES up from 29%.
Look! Over there! Bathrooms!!
Brother been there done that here with no fan fare. Anyway you cut it, unemployment is more than 33%.
Tsunami –
I respectfully disagree with your numbers, but I FULLY agree with your argument. (And no, I’m likely not smarter than you.)
My disagreement is only based on the terminology used by the BLS. For example – 94 million are “out of the workforce”, compared to “out of work”. A minor quibble. If you don’t WANT to work, I’m not sure you can/should be counted as unemployed.
With that in mind, I think our true, legitimate unemployment rate is likely around 15-17% – totally unacceptable and deliberately masked by lies from the government… which I think is your point.
If you are of working age, not disabled, and receiving gov’t benefits, you should be working or be put in jail.
Joe hoping to bag a rink fish