TeeJaw Blog

8.6% Unemployment? Only If You Don’t Count the Shrinkage of the Labor Force

Posted in Government and Politics by TeeJaw on Friday, December 2, 2011, 10: 23 AM

120,000 jobs were created in the last month and that’s good. It’s sure better that nothing and a lot better than a negative number. It’s not enough to get the economy going again, though. That will require at least 250,000 new jobs a month, consistently over a long period. But there’s another number the state-run media ignores: Last month 310,000 Americans simply gave up looking for work and left the labor force. You have to ignore that number to get to a rate of 8.6% unemployment.

If the labor force were the same size it was when Obama took office, unemployment would be over 11% right now. That’s the U-3 unemployment rate. But don’t tell anyone. Obama and his pals in the media don’t want anyone to know.

More here:

November jobs report: 7 reasons why it’s better but still terrible

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One Response

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  1. Obama Politicizing U.S. Labor Statistics? « TeeJaw Blog said, on Tuesday, December 20, 2011, 9: 04 AM at 9:04 AM

    […] Obama Politicizing U.S. Labor Statistics? Posted in Government and Politics by TeeJaw on Tuesday, December 20, 2011, 9: 04 AM When the new unemployment figures from the supposedly non-partisan Bureau of Labor Statistics came out earlier this month it was widely pointed out that the 8.6% number was only made possible by not counting the shrinkage in the labor market since Obama took office, and that the U-3 unemployment rate, which takes that into account, was 11%. See my previous post, from December 2nd, 8.6% Unemployment? Only If You Don’t Count The Shrinkage in the Labor Force. […]


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