February 24, 2012

You do the math II..

All of the ObamaBots and those who swooned over this incredibly worthless POTUS are having a fit of the vapors now that they perceive the economy to be "coming back".

The main theme of all of their Hosannas seems to be the unemployment stats the BLS publishes -- it's now trending downward towards 8.0% but still above the unemployment rate during this clown's regime. (And that occurred on the day he was inaugurated.)

Anyway, this is illusory -- all Bravo Sierra -- as it's a denominator diminution driving this. Here is a hady little graphic from the very same BLS that you should show your Skittle-crapping unicorn friends:

"Doin' the Limo Rock: how low can you go?.."

A recent article in Forbes magazine unwraps all of this rotting fish. They come up with different numbers than the BLS, but the message is still the same (emphasis mine):
When Barack Obama entered office in January, 2009, the labor force participation rate was 65.7%, meaning nearly two-thirds of working age Americans were working or looking for work.

When the recession supposedly officially ended in June, 2009, the labor force participation rate was still 65.7%.

In the latest, much celebrated, unemployment report, the labor force participation rate had plummeted to 63.7%, the most rapid decline in U.S. history. That means that under President Obama nearly 5 million Americans have fled the workforce in hopeless despair.

The trick is that when those 5 million are not counted as in the work force, they are not counted as unemployed either. They may desperately need and want jobs. They may be in poverty, as many undoubtedly are, with America suffering today more people in poverty than in the entire half century the Census Bureau has been counting poverty. But they are not even counted in that 8.3% unemployment rate that Obama and his media cheerleaders were so tirelessly celebrating last week.

If they were counted, the unemployment rate today would be a far more realistic 11%, better reflecting the suffering in the real economy under Obamanomics.

Just last month, while the Bureau of Labor Statistics reported finding 243,000 new jobs, they also reported in the same release that an additional 1.2 million workers had dropped out of the work force altogether, giving up hope under Obama. If labor force participation had remained the same in January, 2012 just as it was the month before in December, 2011, the unemployment rate would have risen to 8.7% in January rather than supposedly declining to 8.3% as reported.
It shows that the labor workforce participation (the number of people "available" to work started it's slide mid-2008 but decreased precipitously since January 2009 and has remained chugging along below 59% since then.

These are the people who -- owing to one reason or another, mainly because they could not find work -- have given up and packed it in.

Why?

I dunno. My hope is that these folks will NOT be pulling the lever for this turd-in-chief who passes himself off as our POTUS.

-30-

5 comments:

Woodsterman (Odie) said...

I'll work for Beefeater !

Woodsterman (Odie) said...

Hey, I don't get it. I have a job. Yup, I hired myself.

Woodsterman (Odie) said...

There aren't enough comments on this post.

Woodsterman (Odie) said...

So, here's another one.

Woodsterman (Odie) said...

I'm back a day later. You should really read these comments once in awhile. They're not ALL insulting.