1/7/12

It's Forced Unemployment, Stupid!

Obama's lost labor force statistics EXPOSED!
Since Barack Obama assumed office, according to the Bureau of Labor Statistics, the total population over age 16 has grown by 5.845 million to 240.5 million, and yet, since then, the civilian labor force has actually shrunk by 349,000 — from about 154.2 million to 153.8 million.

This is a startling contradiction, and it is at the heart of why the unemployment rate is much higher than the 8.5 percent being reported.

The problem is that the measured civilian labor force participation rate has fallen from 65.7 percent to 64 percent since Jan. 2009, reflecting people who have lost hope and simply stopped looking for work. If those people were still counted, the actual civilian labor force would be 4.176 million higher than is reported at about 158 million.

Based on this analysis, the number of unemployed is actually closer to 17 million instead of the 13 million reported jobless. That is simply astounding.

Instead of 8.5 percent, the effective unemployment rate should be closer to 10.9 percent, and the underemployed closer to 17.4 percent, or 27.3 million. This is what we mean when we say that the unemployment rate is no longer a valid economic indicator.
(full story at getliberty.org)

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