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Lies, Damn Lies, and Unemployment Rates

Isn't it wonderful how miraculously the economy has turned around this year. The unemployment rate, currently at 8.2%, continues to go down. Pretty soon, everyone will have a job. Or not.

There are a few details being left out of the mainstream media reports on unemployment. The percentage of participants in the labor force has been falling much of this decade. The measure of this is the total number of employed divided by the total population. Part of it is early retirement, part are welfare queens, and the vast majority are those dropping out of the work force.



http://petesbloggerama.blogspot.com/2011/12/how-to-really-analyze-us-employment.html

http://data.bls.gov/timeseries/LNS11300000



The U.S. has now the lowest percentage of participants in labor force than in the last 30 years, at 64%. And it is still going down this year (Jan, 63.7; Feb, 63.9; Mar, 63.8; Apr, 63.6), even as the reported rate falsely shows improvement. BLS projections for 2020:62%.

http://data.bls.gov/timeseries/LNS11300000

http://www.bls.gov/emp/ep_table_303.htm




Total Population of Germany: 82,000,000

Population of U.S. Not in Labor Force: 88,000,000

http://www.nationalreview.com/corner/295558/unemployment-rate-or-unemployment-reality-andrew-c-mccarthy



The U.S. Bureau of Labor Statistics does not use this measure. After years of poltical gamesmanship, BLS has been forced by laws to skew the data, using complex formulas that leave much of the truth out of the equation.

Attempts are being made in Congress to end this charade, and change the way they report the data. Sadly, they don't go far enough. One bill currently in the mill changes of official rate from the U-3 measurement (BLS has six -- U-1 to U-6) to the U-5 measure, now at 9.5%. Their U-6 rate is ~15%.

http://www.thenewamerican.com/economy/economics/item/11099-rep-duncan-hunter-wants-bls-to-report-real-unemployment-rate

http://www.bls.gov/news.release/empsit.t15.htm



How the Government Measures Unemployment
http://www.bls.gov/cps/cps_htgm.htm




Bottom line: No one knows the exact unemployment rate, but we do know it is somewhere between the non-participation rate of 36.4% and the BLS U-6 rate of 15%. The midpoint of these two is 25.7%.





Added: May-14-2012 Occurred On: May-14-2012
By: joe prole
In:
Politics
Tags: Unemployment rate, Statistics & lies
Location: United States (load item map)
Views: 1893 | Comments: 16 | Votes: 1 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 2
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  • The Left is very good at playing "make believe."
    In fact, they live in a world of "make believe."
    I just call them what they are, fucking Liar's.

    Posted May-14-2012 By 

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  • lets not let details get in the way of President Obama's 2008/2012 campaign effort.

    (did he ever really stop campaigning?)

    Posted May-14-2012 By 

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  • you should see how they fiddle the unemployment stats in the uk ,its called mandatory work as in volunter program it starts with 4 weeks unpaid work then 8 weeks then wait for it 36 weeks unpaid work.

    when you are on this slave labour course you are classed as in work but on benofits

    Posted May-14-2012 By 

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  • The lamestream media should be prosecuted for falsifying information the way they do.

    Posted May-14-2012 By 

    (3) | Report

  • You make some good posts joe. Voted again. If you think this sort of fiction is wild I can't imagine what manipulations and lies about the condition of the US await us between now and election day.

    Posted May-14-2012 By 

    (3) | Report

  • Apparently everything was fine when Clinton was President and we had a >7% unemployment rate.

    Then, according to the media, everything got much worse with Dubya's reign when the unemployment rate dropped to around %5.

    So, according to the mainstream media's criteria (most likely the letter following the POTUS' name), at a rate in excess of 9%, everything should be freaking hunky-dory, mornin' glory.

    :::shrug:::

    Posted May-14-2012 By 

    (3) | Report

  • keep shopping at walmart rofl,buy foreign products because they are cheaper,and as long as the national debt continues to grow,and we are not on the gold standard,and our politicians keep printing more money that's not backed up(i.e. inflation)iit will continue to be this way and grow worse,politicians should not get patted on the back for keeping inflation under 10%,if it's above 0 it is bad.hellooooo.

    Posted May-14-2012 By 

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  • Comment of user 'MB-UK' has been deleted by author (after account deletion)!
  • Never fear,
    this time next year when a new president(R) occupies the white house,
    ... a sobering reality will be unleashed. The 99 weekers were forgotten about!
    the true unemployment rate of 17% will rear its ugly head.

    Posted May-14-2012 By 

    (1) | Report

  • Politics. It don't take a genius!

    Posted May-14-2012 By 

    (0) | Report

  • its lies to keep the stocks high if the truth about it gets out it will drop lots of points and its what they dont want because they have their money in it

    Posted May-14-2012 By 

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  • The unemployment rate is measured by those who qualify unemployment insurance. Once you have used up your claim or got a job that exceeds the pay out; you then come off the list.

    It has never been an accurate measure of the number of people who are actually seeking full time employment.

    Posted May-15-2012 By 

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  • Comment of user 'cdnbud' has been deleted by author (after account deletion)!
  • Whatever, works great over here, I got a job you're just not trying hard enough if you don't. Romney 2012

    Posted May-14-2012 By 

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