For me – I ain’t buying the 8.3% unemployment rate released last Friday.
There are 140M working people in the US and a 10% UER would mean 14M out of work
Last Friday’s monthly UER was 8.3% or 11.6M out of work. There are 4M that have left the workforce, given up, no longer looking for work and are not counted any longer in the unemployment (UE) figures. If those 4M were to jump back into the “actively looking” for work, if you added those folks back in – divided by the number of people in the work force it would show about a 12% UER.
Are they playing around with the numbers? It’s the “Bureau of Labour Statistics”, it’s supposed to be non-partisan, but it is the Dept of Labour --- Hilda Solis - - who works directly for Obama….Not Saying Anything. There is room for error, but not that much
How about the $20/hour people who are at least working somewhere for $12/hour until they get what they want – the “under-employed”. Add them into the equation and we may have an under-employed rate of closer to 20%
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