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Phony cheer in unemployment numbers
Obama partisans are hailing the “surprising” fall in unemployment as a sign that a recovery is showing strength. But the official metric for unemployment, U-3, counts only people actively looking for jobs, and that is the figure which has declined to 7.7%. Neil Irwin in the Washington Post explains:
The jobless rate dropped in large part because the labor force fell by 350,000, suggesting that people gave up looking for work. The number of people saying they had a job actually fell by 122,000. And the Labor Department revised downward its estimates of job creation in September and October by a combined 49,000.
Stranded in Sonoma
December 8th, 2012
So, 472,000 new unemployed Americans will now be listening to ABC, CBS, NBC, CNN, and MSNBC about how the unemployment dropped a tenth of a point.
venturaguy
December 8th, 2012
Get out of the labor force – go on disability – vote Dem forever – just like Cloward, Piven & Obama planned it
Didn’t the Soviet bloc boast about zero or near zero unemployment rate?
cfm990
December 8th, 2012
@ venturaguy.
Once elections become unnecessary, the buying of votes will follow suit. Therefor, there will be no need for welfare expenditures. Work or starve, will be the decree.
grayscape
December 8th, 2012
October was 7.8% – they just revised it up to 8.3%.
This means next month they will revise this 7.7% up to….8.5%?
Fukin liars – all of them.
Xavier
December 8th, 2012
Hell it’s worse than that!
“Beneath the November jobs report: 73% of new hires are government employees”
http://www.libertyunyielding.com/2012/12/07/beneath-the-november-jobs-report-73-of-new-hires-are-government-employees/
Nutjob
December 8th, 2012
xavier,
that needs to be cut and pasted all over the internet, to show the dumbasses how not only the numbers are being fudged but whats driving up our debt and down the false unemployment numbers.
venturaguy
December 8th, 2012
@cfm – I will believe it when I see it. Work or starve should be how it is – except for genuinely disabled people
Bad Brad
December 8th, 2012
47 percent buy this bull shit, 53 percent know better. How did that asshole get re elected?
Groucho Marxist
December 9th, 2012
1.6 million new job losses since el nino was re-elected.
http://www.dol.gov/opa/media/press/eta/ui/current.htm