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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: FJB who wrote (121413)1/8/2012 12:11:46 PM
From: locogringo2 Recommendations  Read Replies (1) of 224706
 
Here's another perspective at deciphering those unemployment numbers:

"But while I am all for good news, a couple of hard truths must be told as these numbers are scrutinized today.

First, the U.S. workforce is not nearly the same size as it was when President Obama took office, let alone this time five years ago. According to AEI's James Pethokoukis, "If the size of the U.S. labor force was as large as it was when Barack Obama took office, the unemployment rate would be 10.9 percent. But since so many people have gotten discouraged and stopped looking for work– and thus disappeared by government statisticians — the jobless number has been artificially depressed. A better gauge of the jobs picture is the broader U-6 rate, which includes part-timers who would rather have full-time jobs. It stands at a whopping 15.2 percent."

As Pethokoukis notes in his post, pointing to data highlighted by Hamilton Place Strategies, further scrutiny of other numbers, like labor force participation, results in an even less rosy picture: "Labor force participation averaged 66 percent through most of the 2000s. It now stands at 64 percent after declining again last month. If more people were still looking for jobs, and the participation rate were back up at 66 percent, the unemployment rate would now be 11.4 percent instead of 8.6 percent."

townhall.com
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