The department of labor released September numbers this morning and it doesn’t look good.
Obama will most likely talk today about the unemployment rate dropping below 8% for the firs time in 45 months (the longest the unemployment has been above 8% in our nations history… longer than even the great depression).
But this couldn’t be farther from the truth.
Although unemplyment did drop below 8% (7.8% is the actuall number), that amount only takes into account those collecting unemployment and does not take into account those who have taken on part time jobs (to support themselves while they CONTINUE to work for full time GAINFUL employment), and does not take into account those who have dropped out of the unemployment system due to extended unemployment (99 weeks) when their unemployment runs out. 114,000 new jobs were created last month, but 350,000 NEW people went on unemployment. That is a net increase of 236,000 who are unemployed.
So if there is an increase of 200,000 people in unemployment, how does the unemployment rate go DOWN as the president will most likely tout on his self chest beating promotion tour?
Simple, when count all those who have limited income (but aren’t on unemploymnt, part time jobs) and who have fallen out of Unemployment due to the 99 week limit for unemployment, or who have dropped out of the workforce because they cannot find gainful employment and those who are UNDEREMPLOYED (have full time and/or part time jobs until they can find gainful employment at the level of income they were at prior to being unemployed) what you have is an REAL unemployment rate of about 15%. 15%!!!!!
When we calcuate it out. The U-3 report shows that 11.5+ million people are unemployed, but the U-6 report shows that more than 20 MILLION PEOPLE ARE CURRENTLY UNEMPLOYED OR UNDEREMPLOYED. This is a STAGGERING number.
So today, when the president tells you things are looking better. It is a lie, hidden in the numbers.
Get the facts for yourself. Don’t rely on the president to tell you the truth, or any politician for that matter. Get the facts. Learn. Read. Educate yourself. Pass this on!!!! People should know the truth.