Sad thing is I don't have to search to discredit or hope for the demise of the economy. It reveals itself everyday.
Besides, about all you post is DNC/Obama talking points.
Picture is worth a thousand words
View attachment 9381
Quick Notes About the Unemployment Rate
In the last year, the civilian population rose by 3,584,000. Yet the labor force only rose by 1,569,000. Those not in the labor force rose by 2,014,000.
In February, the Civilian Labor Force rose by 476,000.
In February, those "Not in Labor Force" decreased by 310,000. If you are not in the labor force, you are not counted as unemployed.
Participation Rate rose .2 to 63.9%
Were it not for people dropping out of the labor force, the unemployment rate would be well over 11%.
Over the past several years people have dropped out of the labor force at an astounding, almost unbelievable rate, holding the unemployment rate artificially low. Some of this was due to major revisions last month on account of the 2010 census finally factored in. However, most of it is simply economic weakness.
Between January 2008 and February 2010, the U.S. economy lost 8.8 million jobs.
Over the last two years, nonfarm payrolls have added 3.5 million jobs. Of the 8.8 million net jobs lost between January 2008 and February 2010, 40 percent have been recovered.
Statistically, 127,000 jobs a month is enough to keep the unemployment rate flat. The average employment gain over the last two years has been 145,000, barely enough (statistically speaking) to make a dent in the unemployment rate.
The official unemployment rate is 8.3%. However, if you start counting all the people that want a job but gave up, all the people with part-time jobs that want a full-time job, all the people who dropped off the unemployment rolls because their unemployment benefits ran out, etc., you get a closer picture of what the unemployment rate is. That number is in the last row labeled U-6.
U-6 is much higher at 14.9%. Both numbers would be way higher still, were it not for millions dropping out of the labor force over the past few years.
Grossly Distorted Statistics
Given the complete distortions of reality with respect to not counting people who allegedly dropped out of the work force, it is easy to misrepresent the headline numbers.
Digging under the surface, the drop in the unemployment rate over the past two years is nothing but a statistical mirage. Things are much worse than the reported numbers indicate.
BLS vs. Gallup
Gallup has the unemployment rate at 9.1% not 8.3% and the "underemployment" number at 19.1%, not 14.9%.
Bear in mind the Gallup numbers are not seasonally adjusted but the BLS numbers reported above are. Nonetheless, it's entirely safe to say that 19.1% is far closer to the truth than 14.9%.
Please see Gallup Reports Large Jump in Unemployment to 9.1%, Underemployment to 19.1% for details.
Sources: BLS and The Gallup Organization. Sources are cited, no link. Want "Proof" look for it like I did. The fundamental element of being Libertarian is self reliance so get busy and do your own research.
