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About That New Unemployment Rate

05 Oct

Fox Business Charles Payne not buying unemployment drop, believes numbers will be revised upward of 8% after election » The Right Scoop –.

Too good to be true? You betcha!

114,000 new jobs is less than the growth of the population. The only way you can go from 8.1 percent to 7.8 percent is to stop counting people who have given up looking which is what this Administration has been doing from day one. If the labor force participation rate (number of able-bodied people of working age) was where it was when Obama took office, the unemployment rate would be just south of 11 percent.

Obama has lowered the unemployment rate not by creating jobs but by not counting people. George Orwell and Karl Marx would be so proud.

UPDATE:

Ed Morrissey at Hot Air has some more background and analysis of the numbers

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One response to “About That New Unemployment Rate

  1. Alan D Thompson

    October 7, 2012 at 3:10 pm

    The new employment figures released just can’t be true! People I personally know, and I, were not counted for one! Our unemployment benefits stopped many months ago. I know I will not get any benefits… BUT!… I should be counted If I reapply for unemployment benefits. I want anyone who really cares about this to let their friends know, who are still unemployed with out benefits, to reapply so they will be counted. I’ll bet there are enough of us to cripple the system once this gets going. This is one effort that truly needs to go VIRAL in the USA. Please help spread this effort and we should see real numbers soon.

     

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