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Thursday, June 26, 2014

Employment Numbers Revised Down

The “cooking of the books” scam perpetrated by President Obama and the Federal Government continues. When the whole of the workforce continues to shrink at the rate it is, the unemployment rate ceases to have meaning. For example, the total unemployment rate, U6 is still shown around 12%, but if the labor participation rate was similar to what it was in 2008, the U6 total unemployment rate would be between 18% and 20%. So when another 800,000 leave the workforce and the Obama Administration and their acolytes in the press herald improvement in the unemployment rate, you know it is a calculated lie.


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