Unemployment rate actually 11.04 percent | NetRight Daily

Unemployment rate actually 11.04 percent  | NetRight Daily

Unemployment rate actually 11.04 percent

By Bill Wilson — According to former U.S. Labor Secretary Robert Reich, employment needs to grow by at least 90,000 a month just to keep up with the growth of the population. But, since the fall of 2008, the civilian labor force has actually shrunk from 154.7 million to 153.8 million, a contraction of about 900,000.

It’s not that fertility suddenly dropped or there was a massive plague. It should have grown by 3.24 million since then, but it didn’t. Which means working age adults are simply not being counted by the Bureau of Labor Statistics (BLS.

They are fudging the numbers.

Adding the 900,000 contraction to the expected growth, the total civilian labor force should be 4.14 million larger than is being counted, at about 157.94 million by now. And the unemployed should be about that much more larger, since if they could be counted as working, BLS would most certainly be counting them.

So, the amount of unemployed should really be measured at about 17.443 million, instead of 13.303 million, or a rate of 11.04 percent instead of 8.6 percent. And the underemployed rate should be about 17.8 percent instead of 15.6 percent, with 28.145 million people looking for full-time work that cannot find it.

All of which puts the happy talk of the Administration into perspective. When the jobs numbers were released, Barack Obama lauded the result, saying, “We need to keep that growth going.”

What growth? Propaganda is not going to get those 28 million people into honest, paying jobs. It’s not going to help folks who are on the edge of foreclosure keep their homes. It’s not going to help new college graduates from getting started off in the workforce on the right foot.

The economy needs to be expanding in order to create jobs just at the natural rate of population growth. We’re nowhere near there right now, and we need to be.

All of which makes Obama’s job-killing policies all the more inexplicable, whether the regulatory burdens that will be imposed the Environmental Protection Agency’s (EPA) carbon endangerment finding or through Obamacare, or his insistence on raising taxes on job creators. He constantly slings mud in a class warfare gambit that is suited for perhaps the campaign trail, but is hardly the leadership the nation needs right now and won’t create jobs.

To get the nation back on its feet, the federal government must get out from under its crushing debt burden, where the national debt is nearly larger than the entire economy. It needs to slash its corporate tax burden, which is the highest in the world of advanced economies. It is imperative that the regulatory framework is unraveled. The dollar needs to be strengthened to lower costs and stabilize energy and food costs. Onerous federal securities laws and state-by-state blue sky laws that make it cost-ineffective for new businesses to raise capital.

In short, it must become competitive to do business here in America again. And that will probably not happen so long as Obama is in office. It is clear the nation needs new leadership that is intent on actually creating jobs that would restore hope, and not on continuing to allow the despair of millions of Americans looking for work to go unobserved.

Bill Wilson is the President of Americans for Limited Government. You can follow Bill on Twitter at @BillWilsonALG.


Related Tags: Unemployment
Previous Topic: 11 Big Gov’t Busts of ’11: #7 The Food PoliceNext Topic: Top 11 Big Government Busts Of 2011: #6
0
Disqus
Like
Dislike
Logout
Add New Comment



Post as @fedup_azjack
Image
Share on: Twitter

Showing 12 comments


Henry
Oh the twists and turns of Marxism. The only problem is, that like the citizens of Venezuela who were clueless as to what was happening to their country by the Hugo Chavez regime, many American citizens are clueless as doorknobs as to what is happening to their freedoms.
Like Reply
5 hours ago 7 Likes

Braunins
i don't believe any numbers that the government releases. They are all fabricated to make this imposter president look good. They don't dare publish the real numbers.
Like Reply
6 hours ago 7 Likes

Hall88bob
Obama one of many lies, even the are left liner's are getting sick of this guy. Obama can't run on his record so he just has his puppets put these numbers out there, and he tell everyone see how much better we are doing. I did not vote for this man last Nov 2008 and I hope that most Americans' wake up and see the light and vote this narcissist out of office.
Like Reply
7 hours ago 7 Likes

Lloyd Revalee
I would be willing to bet that it's higher than that, and has been for some time. I'm too old, and in ill health, or I would be out researching all the old newspapers I could find, and record the layoffs reported in the paper. Added to those reports, we would need to add t0 or 15 percent to account for the small business forced out of business, and the number of their empoyees losing their jobs. After that, let those who list the unemployment rate as 8 percent come up with an accuratem verifiable list, of new jobs created. Part time seasonal jobs would not count.
Like Reply
4 hours ago 3 Likes

marineh2ominer
I dispuute that number , I believe it is actually much higher , there is no way to count those that no longer sign up for benefits .
Like Reply
6 hours ago 4 Likes

JJM
You can distrust anything that the government tells you. Some facts will be presented but the story will be bent to deceive. Give HOPE to those unemployed and CHANGE (redistribution from) those still employed. And too many believed the Silver Forked Tongue Devil in 2008.
I found it impossible to believe the drop in unemployment when only 122,000 were hired and 344,000 new unemployment claims were made for the same month of November. And that does not even consider the 90,000 new jobs (I thought I was told that 150,00+ new jobs) were required to keep the level flat OR those not receiving benefits AND those who have given up. I suspect the true number is more like 18% to 22%.
Like Reply
5 hours ago 2 Likes

Glen
Politicians are liars! Anyone in the position of President of the U.S.A. will more than likely lie about such figures as important as the unemployment. It is hard to trust anyone who has as much power and control as the President. I certainly do not trust this president. He is a known and confirmed liar since the beginning. He lied before being elected and has continued to lie. He cannot open his mouth without lieing. "Tell the people what they want to hear so that I can get elected!" This president is by far the most dangerous president this country has ever been stupid enough to elect. His main focus is to destroy the USA, in my opinion. We have allowed him to become too, too powerful! He has very rich and powerful friends as well. These kind of people depend and breed on the stupidity of people. Can you believe that no one was bright or competent enough to check this guy's credentials before he was allowed to run for any office?? Regardless, we can still defeat this evil man. We just need to get the truth out to the public. It won't be easy but it can be done! The future of our country depends on it!
Like Reply
2 hours ago 1 Like

Angelaselden9
Finally someone tells the truth! I have said all along that the unemployment was more like 11%. We cannot trust obama on anything! He lies, he has others to cook the books (Chicago style) and the numbers. We will never get our economy back until this liar and unamerican is out of office.
Like Reply
2 hours ago 1 Like

Vjhnsn
Well the mainstream media is not going to publish anything but 8.6% unemployment, and too many will believe it. There needs to be more honest sources of news in the publics' view. The internet does not reach enough.
Like Reply
5 hours ago 1 Like

Ron
the only way obama can create jobs is to supply a free airline ticket to china for all the unemployed GE is hireing there
Like Reply
1 hour ago

Fbronson7
If we had immigration inforcement we would have maybe 2% unemployment rate...
Frederick Bronson NC
Like Reply
2 hours ago

Noah
If we enjoy living with government lies all around us from the White House resident right on down through the chain of command, then we definitely need to make sure that illegal immigrant Barry Soetoro aka Barack Hitler oblamer is re-elected to office.
Like Reply
4 hours ago
M Subscribe by email S RSS
Reactions



Read more at NetRightDaily.com: http://netrightdaily.com/2011/12/unemployment-rate-actually-11-04-percent/#ixzz1h2DpKPg4