Posts Tagged ‘real unemployment rate’

The American People Are RIGHT And The Media Is LYING: The Obama Economy Is MISERABLE

January 6, 2014

We’re being told that the economy is recovering.  Green shoots.  You stupid people, the lib-anointed experts say, we’ve been in recovery for years under Obama.  The streets are paved with gold.

Polls clearly show that the American people believe that about as much as they believe Obama’s NSA spying on them (that Obama’s Director of National Security flagrantly lied about to Congress and to the American people on national television) is harmless:

Poll Showing Most Americans Believe Economy Is and Will Stay in Poor Shape Puzzles Politico, CNN
By Tom Blumer | December 31, 2013 | 09:36

One thing the establishment press will not be celebrating this evening as we head into 2014 is the fact that they have been unable to convince the American people that the economy has been and will continue to be on the rebound.

A CNN/Opinion Research Corporation poll released on Friday, which “oddly enough” (no, not really) is not being touted at ORC’s related press release web page, shows that 68 percent of Americans believe the economy is in poor shape. Over half expect the economy to be in that condition a year from now. This came as somewhat of a surprise to Lucy McCalmont at the Politico and Gregory Wallace at

McCalmont’s brief post said that the result occurred “despite some strong indicators.”

Wallace’s longer report attempted to cite several specifics (bolds are mine):

Many Americans feel economy isn’t improving (Note to headline writer: That’s “most,” not “many.” — Ed.)

Despite a recent string of positive economic news, Americans say they aren’t feeling the improvements.

A new CNN/ORC poll released Friday showed people were pessimistic that the economy was improving. Nearly 70% said the economy is generally in poor shape, and only 32% rated it good.

By some metrics, the economy has moved ahead this year. The stock market, for example, has surged — the Nasdaq is up nearly 40% since January. Unemployment is at a five-year low point. Auto sales are at a seven-year high. Gas prices have dropped. And the housing sector, which dragged the U.S. into recession five years ago, is rebounding.

The Federal Reserve sees signs of strength, too. In December the central bank pulled back slightly on the stimulus that has boosted investor confidence this year.

But behind those numbers are the long-term unemployed, the under-employed and those who have dropped out of — or never even entered — the workforce. They’re not sharing in the surging stock market, and many are about to lose jobless benefits.

Wallace’s points about the job market are fine, but many of the alleged positive factors he cited really aren’t when subjected to any kind of analysis.

Unfortunately, the average American is not sharing in much if any of the stock market’s gains.

The point Wallace attempted on gas prices was pretty weak. The national average of $3.30 per gallon is still more than double what it was at the end of 2008.

As to the housing sector, new-home sales are still less than 70 percent of the 700,000 annual level considered healthy by writers at the Associated Press (I think it should be more like 750K-800K).

Finally, the idea that the Fed’s “pullback” indicates “signs of strength” is ludicrous. Given that the annual deficit and mostly related additions to the national debt are about half as high as they were during the Obama administration’s early years, the Fed should have been able to pull back much further if it were really comfortable with where the economy is going. But it’s not, which is why its “taper,” from creating $1.02 trillion per year of funny money to “only” $900 billion, was so small.

And of course, looming over all of this is the impact of Obamacare’s exorbitant premiums and sky-high deductibles on Americans’ spending hablts — something Wallace and McCalmont “somehow” forgot to mention.

Cross-posted at

And the headline says it all:

Survey: Consumers Have Overwhelmingly Poor Outlook For 2014 Economic Recovery

Maybe we can put it this way: are these economic “experts” lying about the economic recovery?  “Not wittingly.”

As to this “recovery”:

WHAT RECOVERY? George Will Exposes Obama’s Failed Economic Record (Video)
Posted by Jim Hoft on Thursday, January 2, 2014, 6:47 PM

What recovery? George Will tonight exposed the Obama administration’s failed economic record. He nailed it.

“The recession began in December 2007. Since then we’ve added 13 million more Americans are in the country and we have 1.3 million fewer jobs. We’ve lowered the unemployment largely, not entirely, but largely because workforce participation rate has gone down as more and more workers have been discouraged and are no longer count any more because they’re no longer looking for work. If the workforce participation rate today were as high as it was when the recession began the unemployment rate would be 11.3%. We wouldn’t be calling it a poor recovery because it wouldn’t count as a recovery at all.”

George is right. The employment-population ratio the last twenty years has bottomed out during the Obama years — that is, the percentage of Americans above age 16 who work for a living.
labor participation rate
The chart clearly shows the results of Barack Obama’s failed economic policies.

** Zero Hedge has more stats on how Obama’s policies have damaged the American economy.

I have written about Obama’s dreadful (and continually getting worse under his watch) labor participation rate, which is the measure of adult Americans who actually have JOBS.

In November 2010 it was 64.5% under Obama, which meant that the lowest percentage of Americans actually had jobs in 25 years.  But things had “improved” under Obama’s watch so that by August of 2011 it had plummeted to 63.9% and the worst in 27 years (the worst since January 1984).  But Obama kept working to “improve” things, such that by May of 2012 fewer Americans were actually working than at any time in 31 years.

And now Obama has “fundamentally transformed” the labor force again such that only 63.0% of working-age Americans are actually WORKING (and you can see how WONDERFUL it was in comparison when Bush was president in the Bureau of Labor Statistics chart here).

Forbes points out that during the last four years of Obama, you’ve got to go back FIFTY YEARS to find a worse four-year record.  Obama has failed America in the worst possible way.  And the American people know it in spite of what they’re being told by the “experts” who are nothing more than ideologue propagandists who might as well be working for Stalin.

BECAUSE OF OBAMA and his demonic failed policies, people are not working.  And the Americans who ARE working are mostly working part time jobs as they experience the ObamaCare hell of being 49ers (small businesses with more than fifty employees are cutting their workforce to be under the 50 employee limit to stay under the draconian ObamaCare regulations) and 29ers (whose work hours are cut to keep them below the full-time employee threshold so they don’t fall under the draconian ObamaCare regulations).

People are desperate.  So Obama and his Demonic Bureaucrats (i.e., Democrats) boast about the “recovery” while at the same time they point out things have never been WORSE than they are under Obama.

You deserve this, America.  You voted for the most wicked president in history and then actually voted to RE-ELECT him.  You voted for a baby-killing murderer with the blood of 55 million murdered babies on his hands.  You voted for a sodomite worshiper who lied about his stance on gay marriage only to put his “morality” above God’s and say what God declared to be an ABOMINATION is a good thing.

Updated January 10, 2014: Hi there, kids in TV land!  Just wanted to refresh you on the very latest Obama “fundamental transformation”: the labor participation rate – the best measure of how well or how truly godawful an economy is doing to create jobs – is now 62.8 percent.  That’s right, it aint Bush, it’s Obama who has brought America to low after low after low and has now degenerated America to the worst labor participation rate in 35 years (i.e., since 1978).

Again, you deserve this, America.  And more of what you deserve is coming for your baby killing, sodomite worshiping, demon-possessed president voting ways.

It was Obama’s reverend who put it best: “No, no, no!  NOT God bless America!  God DAMN America!”

You voted for it, and you got what you voted for.

The Secret Of The Dishonest Unemployment Report Revealed – 4 Million Jobs DESTROYED Under Obama And Worst Labor Participation in 31 Years

September 24, 2012

I’ve written about the disastrous hollowing-out and destruction of the American economy by the Job-Destroyer-in-Chief before.  It’s good to see it being echoed by excellent conservative sites such as American Thinker and even BETTER to see it taken up by Reuters:

September 23, 2012
The ‘hidden’ unemployed
Rick Moran

Every month when the jobless numbers come out, Obama critics take pains to point out that the “official” number is very misleading.

One of the major reasons is that the published unemployment rate does not include such “hidden” workers as those working part time who would like to work full time, and those who have given up looking for work.

Reuters has a good piece today on the latter:

Economists, analyzing government data, estimate about 4 million fewer people are in the labor force than in December 2007, primarily due to a lack of jobs rather than the normal aging of America’s population. The size of the shift underscores the severity of the jobs crisis.

If all those so-called discouraged jobseekers had remained in the labor force, August’s jobless rate of 8.1 percent would have been 10.5 percent.

The jobs crisis spurred the Federal Reserve last week to launch a new bond-buying program and promise to keep it running until the labor market improves. It also poses a challenge to President Barack Obama’s re-election bid.

The labor force participation rate, or the proportion of working-age Americans who have a job or are looking for one has fallen by an unprecedented 2.5 percentage points since December 2007, slumping to a 31-year low of 63.5 percent.

“We never had a drop like that before in other recessions. The economy is worse off than people realize when people just look at the unemployment rate,” said Keith Hall, senior research fellow at the Mercatus Center at George Mason University in Arlington, Virginia.

The participation rate would be expected to hold pretty much steady if the economy was growing at a normal pace. Only about a third of the drop in the participation rate is believed to be the result of the aging U.S. population.

The economy lost 8.7 million jobs in the 2007-09 recession and has so far recouped a little more than half of them.

Economists say jobs growth of around 125,000 per month is normally needed just to hold the jobless rate steady.

Given the likelihood that Americans will flood back into the labor market when the recovery gains traction, a pace twice that strong would be needed over a sustained period to make progress reducing the unemployment rate.

Last month, employers created just 96,000 jobs.

Some areas of the country are better off than others jobs-wise, but that last factoid from Reuters should give us pause. There have only been two months during the Obama administration that have seen more than 250,000 jobs created. If there ever is anything like a normal recovery, the real unemployment rate will skyrocket once the discouraged workers are counted again by the BLS.

No one knows the future but God.  That said, it is my belief that if Obama is reelected, you will see a widespread dive in joblessness as small businesses that have just been hanging on hoping the turd would be voted out variously come to the conclusion, “The hell with it.”

Hypocrite Alert: The Same Nancy Pelosi Who DEMONIZED Bush And 52 Consecutive Months Of Job Creation Hails Obama’s 27 Months As Wonderful

June 2, 2012

Nancy Pelosi trotted out today and had this to say:

Leader Pelosi. Good morning. Nice to see you all here – you missed the crowd of visitors to the Capitol. It’s pretty exciting when they come where, what a thrill.

With today’s jobs report it is clear that we have work to do. Although this is the 27th month of increased, continued job increases in our economy it is certainly not enough. It’s clear from that jobs number that we have work to do. We know it and the American people know it and American families across the country know it.

Wow.  “This is the 27th month of increased, continued job increases,” says Pelosi.  You’ve got to praise a president who can boast that kind of a record.

But a president who has – quite literally – TWICE THAT RECORD?  You should demonize that president.

George Bush had 52 months of “increased, continued job increases.”  As US News and World Report points out:

“Economy Made Few Gains in Bush Years”, declared the Washington Post earlier this week. And while the story grudgingly acknowledged the 52-straight months of job growth, it dismissed any economic gains as the ephemeral product of the housing bubble and wild-spending consumers. Except … that worker productivity — the most important long-term indicator of the core health and competitiveness of an economy — has risen at a really impressive 2.6 annual rate during the Bush years vs. 2.0 percent for Clinton and 1.6 percent for Reagan. (That factoid from the Wall Street Journal.) This is important stuff. It’s one big reason why the World Economic Forum says the U.S. has the most competitive economy in the world. The economic rebound after the pro-growth 2003 tax cuts was no mirage.

Okay, 52 straight months of job growth under Bush.  Let me get out my calculator, because this is math that is clearly FAR beyond any Democrat’s ability to perform: 52 months versus 27 months.  Which is more?

Yep.  I just confirmed it.  Bush’s 52 consecutive months of job growth dwarfs Obama’s 27 months.

And Bush also gave America worker productivity that dwarfed Bill Clinton’s while giving us virtually the same unemployment rate as Clinton (5.2% unemployment under Bush).

I could do also do the math to show that Bush’s unemployment rate is so much better than Obama’s it’s not even funny.  But that would be like rocket science explained to ants for Democrats.  So I won’t bother.  But if you look at the monthly unemployment figures and do the math that Democrats are clearly too depraved to do, Obama’s average unemployment rate through May 2012 is 9.2%.

So the guy with the 9.2% unemployment rate who promised America that unemployment would be under 6% by now if we passed his massive stimulus is saying that the guy with the 5.2% unemployment rate is to blame for his abject failure.

It actually gets considerably worse – because even those monthly unemployment figures are deceitful.  Labor participation has plummeted abysmally and catastrophically under Obama; millions of workers have simply given up bothering to even try to look for a job and 88 million working age Americans aren’t working during this failed presidency.  If we were to calculate Obama’s unemployment rate by the SAME participation rate that Bush’s last unemployment figure was calculated under, Obama would actually have an 11.4% unemployment rate.

That’s in the weeds particularly for Democrats’ whose ideological brains are somewhat smaller than cockroackes’, but the U-6 unemployment rate that many say is this broader “real” rate is 14.8% right now.

Job creation is way down.  The unemployment rate is up.  The market just crashed to correction levels (defined as dropping by 10% from the high) with the Dow losing 278 and the Nasdaq losing 80.  The last two months of “job gains” were downwardly revised. The GDP sucks the big one with a downwardly revised 1.9%.  And speaking of “revising” EVERYTHING keeps getting revised down under this propaganda presidency.

Well, at least Obama has Nancy Pelosi to keep singing his praises.  It’s a way-off tune shrieking cackle that belongs in the padded part of the psycho ward, but at this point Obama has to take praise anywhere he can get it.

Where Are The Jobs, Obama You Liar???

February 20, 2012

What should you call a president who falsely keeps claiming that he’s created millions of jobs when in reality he’s annihilated more than EIGHT MILLION JOBS since taking office???

I call him a liar.

Barack Obama is a pure, distilled liar.  When I heard those Jeremiah Wright sermons, and understood that Barack Obama had spent more than twenty years voluntarily submitting himself and his family to a toxic church under a racist, un-American, Marxist preacher, I KNEW that Barack Obama was a truly evil man.  I had a vision of America uner this wicked man – and it looked like our present state.

Thirteen million Americans are now out of work and simply not being counted.  Well under 2/3rds of the potential American labor force that ought to have jobs are working.  Or, to put it another way, more than a THIRD of the American workforce has been completely shut out of the work force under this presidency and the “leadership” of a Democrat Party that hasn’t even bothered to write a budget in 1,024 days.

Where are the jobs?
Bob Beauprez

Three years ago yesterday Barack Obama signed his $800 billion Stimulus into law in Denver, Colorado.

He said would save or create 4 million jobs and that the unemployment rate would be below 6% by now. He failed.

Obama’s spending didn’t stop with the Stimulus of course. In fact he’s piled up more than $4 trillion of new debt during his first three years with more than a trillion of additional red ink expected this year.

Still the question remains, where are the jobs? Today more than 13 million Americans that want a job can’t find one. Another 4 million Americans have given up even trying to find work. Five million jobs lost in the recession have yet to return. This has already been the deepest and longest lasting recession since the Great Depression. Barack Obama squandered trillions of dollars and American’s still wonder, “Where are the jobs?” he promised.

The following graph is courtesy of the House Republican Study Committee (RSC). It charts the steep decline of the Labor Participation Rate (LPR) from January 2005 to the present. The LPR represents the number of people employed or looking for a job out of the total age-eligible workforce. It is an indication of the confidence level in the state of the economy. It’s not a very encouraging picture, and yet another serious indictment of the failed policies and wasteful spending of this Administration.

From the Republican Study Group:

Democrats said their costly plan ($1.2 trillion, including interest) would “save or create” up to 4 million jobs and bring the unemployment rate down to about 6% today. The unemployment rate has not fallen below 8% at any point in the last 36 months. Furthermore, the official unemployment rate does not actually count unemployed people who have given up looking for work.

The above chart shows the “labor force participation rate.” This statistic represents the share of working-age Americans who are either employed or unemployed but looking for work. It is not a pretty picture. Only 63.7% of working-age Americans are currently in the workforce – the lowest in almost 29 years!

To put it another way, 36.3% of working-age Americans do not have a job and are not even looking.

Here’s another sobering chart that comes to the same conclusion.  Only it also points out that Obama has actually manufactured a jobs holocaust by destroying EIGHT MILLION JOBS:

CBO Director Douglas Elmendorf acknowledged Obama’s destruction of jobs:

That prompted this exchange between Rep. Tom McClintock, R-Calif., and the CBO director. “Let me ask you, are there more people working today or fewer people working today than at the — on inauguration day of 2009?” McClintock asked.

“I believe the answer to that,” said Elmendorf, “is there are fewer people, congressman.”

Here’s the bottom line of the Obama economy:

Even Ezra Klein states that if the same labor force participation rate applied from the Bush years, the actual Obama unemployment rate would be at 11 percent. James Pethokoukis of Reuters calculated it at 11.3 percent. And Tyler Durden using the most recent data calculates it at 11.4%.

It’s an economy for people who love living off the government tit while working Americans struggle more and more to deal with the consequences of staggering government debt.  It’s an economy for people who frankly despise America and believe it should be just one more mediocre country among all the other mediocre countries.

The real unemployment rate, according to Gallup, is over NINETEEN PERCENT.

Oh, and one other thing: after creating permanent unemployment over the Republicans’ repeated objection, Obama has created a permanently unemployed and unemployable “worker” who is now filing for disability to further weaken our collapsing Social Security system even as Obama used political demagoguery to seize another $100 billion from a system that is teatering on the verge of bankruptcy.

Obama’s only talent is blaming Bush and demonizing Republicans for everything that he’s been responsible for over the last three years and change.  We’re going down hard under this failed president’s “leadership”; and we deserve to fail until we refuse to tolerate him for one more day and force him out of office.

Obama Hell: When Bush Left Office Average Length Of Unemployment Was 19.8 Weeks; NOW IT’S 40.8 WEEKS

January 7, 2012

This was what Obama said yesterday (Jan 6, 2012):

“Altogether more private sector jobs were created in 2011 than any year since 2005,” Mr. Obama said during a visit to the Consumer Financial Protection Bureau Friday. “There are a lot of people that are still hurting out there. After losing more than 8 million jobs in the recession, obviously we have a lot more work to do. But it is important for the American people to recognize that we’ve now added 3.2 million new private sector jobs over the last 22 months — nearly 2 million jobs last year alone.”

The problem is this man is a liar from the bottom of the pit of hell.

You want to see the hell that unemployment hell Obama has given us in a single graph?

No, no, you stupid liberal: that’s not a rocket ship blasting up into space; that’s your messiah’s average duration of unemployment that is blasting straight up into the stratsosphere.

The average duration of unemployment when Bush left office was 19.8 weeks.  That’s how long it took the average person who lost a job to find another one.  Now it is 40.8 weeks.  If you’re REALLY lucky.

Thanks for that “fundamental transformation” of America, Barry Hussein.

And here’s the truth about how many jobs Barack Obama HAS DESTROYED, as measured by the labor force participation rate (which for you liberals is the percent of people who are actually PARTICIPATING in the labor force):

Yes, liberal, I know.  That DOES look like a rocket ship plunging out of space on its way to a terrible crash.  But that’s what happens when you give a fool the U.S. economy.

The labor force participation rate was 65.7% on January 2009 when Bush left office.  It was 64% as of December 2011.  And when you’re talking about a working-age population the size of America’s that 1.7% is HUGE.

Obama isn’t creating jobs; he’s DESTROYING JOBS.

Even Ezra Klein states that if the same labor force participation rate applied from the Bush years, the actual Obama unemployment rate would be at 11 percent. James Pethokoukis of Reuters calculated it at 11.3 percent.  And Tyler Durden using the most recent data calculates it at 11.4%.

That’s the truth.  If you pay attention to the actual facts and ignore Barack Obama’s lying mouth and the propaganda of the mainstream media.

The actual work force – thanks to Barack Obama’s morally and logically depraved policies – is 2.5 million jobs smaller than when he took office.  That’s how many jobs have simply ceased to exist.

The reason the unemployment rate is going down is because it is measured in a fraudulent manner that does not take into account the discouraged workers who are simply dropping out and abandoning the work force.  Because the reality of the Obama failure has crushed every reality they have ever cherished.  For them, “hope” is dead.  And “change” is hell.

As I pointed out nearly a year ago, at the ‘rate’ we’re Going, we’ll have a 0% unemployment rate but no one will have an actual job.