Obamanomics: 88 Million Not in the Labor Force
Statistics in the hands of a government agency are a lot like the ‘shell game ‘run by a scam artist on the street…………. misdirection and trickery.
President Obama and his willing accomplices have unique way of reducing unemployment…merely stop counting 88 million able body workers. I guess President Obama only cares about the people he can see.
From Hope to Hopelessness: Obama’s Economy Has 88 Million “Not In Labor Force”
It was less than a year ago that Barack Obama’s senior adviser, David Plouffe said:
After 2½ years in office, President Obama now “owns” the economy as an issue, according to top adviser David Plouffe, who added he was confident that voters understand that recovering from a devastating recession Mr. Obama inherited takes time.
“Of course he does,” Mr. Plouffe told NBC’s “Today” show host Matt Lauer when asked point-blank if Mr. Obama owns the economy.
“But the American people understand that we — it took us a long time to get to this mess,” Mr. Plouffe said. “It’s going to take us some time to come out. We are making progress.”
Well, after Friday’s jobs numbers came out (the economy added 120,000 jobs) Labor Secretary Hilda Solis promptly proclaimed: “That’s a noteworthy achievement.”
In fact, for the man who campaigned on the message of “hope” in 2008, the 120,000 jobs added is much fewer (about half) than expected and the edging down of the unemployment to 8.2% is not from job creation but from hopelessness.
There are now 88 million Americans who are “Not In Labor Force,” according to Department of Labor statistics, which the St. Louis Federal Reserve put into this
Obviously, others are seeing past Obama’s cheerleaders.
The Wall Street Journal stated:
But mostly, the picture was disappointing at a time when all eyes are on the U.S. to help keep global growth humming. The jobless rate, which is obtained from a separate survey of households, edged down to 8.2% from 8.3%, its lowest point in three years. However, that decline was due less to new hiring than people abandoning their job searches.
“I’m nervous,” said Jared Bernstein, former chief economist for Vice President Joe Biden.
Although Bernstein is not really an economist, he is right to be nervous.
And, so should the Obama Administration. The hard truth for Barack Obama is:
People have given up.
They have gone from ‘Hope’ to Hopelessness.
Andrew McCarthy on the black-hole otherwise known as “Not in the Labor Force”
Posted by The Right Scoop
Andrew McCarthy explains why the unemployment rate has become a useless statistic and why there are better measures for our unemployment predicament:
NATIONAL REVIEW – Through the magic of Washington Math and the Obama Labor Department, the metric “unemployment rate” has become as nonsensical as “jobs created or saved” by the stimulus. The Obamedia creates a free campaign ad out of the purported drop from 8.3% to 8.2% (i.e., from appalling to marginally less appalling), but meantime millions have been added to the black-hole category of “Not In the Labor Force” — people who are so discouraged that they are not looking for work. That number is at an all-time high: 88 million. Thus the labor force participation rate, at under 64%, is lower than it’s been in 30 years. Mish Schedlock concludes, “Were it not for people dropping out of the labor force, the unemployment rate would be well over 11%.”
Instead of giving the Left ammunition by bizarrely implying that our outlook is improving, maybe the Romney campaign could give some thought to breaking through the fudged “unemployment rate” chatter. Something like:
Total Population of Germany: 82,000,000
Population of U.S. Not in Labor Force: 88,000,000