Well the recovery is evident right? I mean, 10.2% Headline unemployment
http://mam.econoday.com/byshoweventfull.asp?fid=437995&cust=mam&year=2009#top
The BLS's table "Alternative measures of labor underutilization"
http://www.bls.gov/news.release/empsit.t12.htm
The U-5 number of 11.6% is what I generally focus on. I also add at least 5% since all those unemployed for too long no longer count in the labor force. Then I usually say at least. So I now say at least 16.6% unemployment. Throw in the under employed, those working part time because they can't find full time work, and we are over 20%. But really one can be confident in saying about 1 in every 6 people is unemployed.
One might even want to brain up on these things a bit and realize that Clinton threw a bunch of things out the window. Clinton decided to reduce the sampling size and the bulk was reduced in inner city areas. Likely, this is because people don't really like to go door to door in "inner city" areas. Clinton also threw anyone unemployed over a year out the windows and said they don't count any more. So yeah, the numbers looked great under Clinton during the second half of his presidency.
Another significant problem with the BLS numbers is the small business problem. When a business no longer reports its numbers, it becomes non existent. The BLS has no way of figuring out what happened to the business and its employees. They don't become unemployed, they just don't exist any more.
So if you are
A) Unemployed for over a year (and they might have adjusted this recently given changes in unemployment compensation)
B) Living in an inner city neighborhood and likely unemployed
or
C) Worked for a small business that went out of business
You don't count any more.
So when one reads that 10.2% headline number, remember even the government is willing to admit its at least 11.6%. Then make a mental note that if you are either A) B) C) you don't count either.
Oh yeah recent college and high school graduates don't count.
And farmers who stop farming don't count because they are a business.
And single teenage parents on welfare don't count.
Get the picture as to why I am really worried about the disconnect between the headlines and what is actually going on? The headlines are Newspeak. The numbers you see in the headlines are super adjusted and they only give you the numbers which sound the best. The worst part is, 99% of Americans don't give a crap (I guess) and 99% of Americans aren't going to take the time to actually read up about anything related to this optimism exuded by the Obama administration and the media.
http://mam.econoday.com/byshoweventfull.
The BLS's table "Alternative measures of labor underutilization"
http://www.bls.gov/news.release/empsit.t
The U-5 number of 11.6% is what I generally focus on. I also add at least 5% since all those unemployed for too long no longer count in the labor force. Then I usually say at least. So I now say at least 16.6% unemployment. Throw in the under employed, those working part time because they can't find full time work, and we are over 20%. But really one can be confident in saying about 1 in every 6 people is unemployed.
One might even want to brain up on these things a bit and realize that Clinton threw a bunch of things out the window. Clinton decided to reduce the sampling size and the bulk was reduced in inner city areas. Likely, this is because people don't really like to go door to door in "inner city" areas. Clinton also threw anyone unemployed over a year out the windows and said they don't count any more. So yeah, the numbers looked great under Clinton during the second half of his presidency.
Another significant problem with the BLS numbers is the small business problem. When a business no longer reports its numbers, it becomes non existent. The BLS has no way of figuring out what happened to the business and its employees. They don't become unemployed, they just don't exist any more.
So if you are
A) Unemployed for over a year (and they might have adjusted this recently given changes in unemployment compensation)
B) Living in an inner city neighborhood and likely unemployed
or
C) Worked for a small business that went out of business
You don't count any more.
So when one reads that 10.2% headline number, remember even the government is willing to admit its at least 11.6%. Then make a mental note that if you are either A) B) C) you don't count either.
Oh yeah recent college and high school graduates don't count.
And farmers who stop farming don't count because they are a business.
And single teenage parents on welfare don't count.
Get the picture as to why I am really worried about the disconnect between the headlines and what is actually going on? The headlines are Newspeak. The numbers you see in the headlines are super adjusted and they only give you the numbers which sound the best. The worst part is, 99% of Americans don't give a crap (I guess) and 99% of Americans aren't going to take the time to actually read up about anything related to this optimism exuded by the Obama administration and the media.
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