Monday, October 08, 2012

Obama Celebrates Unemployment?!

by: Rob Rohrbough & Bryan Baumgart:

obama is celebrating the recent drop in the "official" unemployment rate from 8.2% to 7.8%.

The administration’s celebration illustrates the utter disconnect between obama and the average American citizen.

The question is…WHAT’S TO CELEBRATE?!

As the US Bureau of Labor Statistics points out, the unemployment rate fell due to an increase in “Involuntary Part-Time Workers” whose hours had been cut back due to economic reasons (up 600,000 this past month), and an increase in “Discouraged Workers” who gave up looking for work because they believe there are no jobs available to them (802,000 this past month). The "Discouraged Worker" and "Involuntary Part-Time Worker" or "REAL UNEMPLOYMENT RATE" remained at 14.7%, almost double the "official" unemployment rate.

The fact is that 114,000 new jobs is not enough to contain the average population growth of 150,000 - 200,000 new workers each month. The increase of jobs of 114,000 this month was far less than the average increase of 161,500 for the two months prior. As for the state of the average American household, its average income has dropped $4,520 (8.2%) under obama.

In essence, the obama administration is celebrating the over 1.4 million American citizens who became so discouraged they gave up looking for work or who were involuntarily moved to part time work this past month because his economy is so poor! If obama is successful in discouraging more and more workers this month, the unemployment rate just might drop even more before Election Day. That’s NOT something to celebrate!!!

Back in February 2009, the obama Administration promised that after their nearly trillion dollar stimulus, the unemployment rate would drop down to 5.3% at the end of his first term. Even with the utter destruction of hope, causing over 802,000 people to give up looking for jobs...the unemployment rate is nowhere near what he promised.  On jobs...obama has failed every direction you spin it!

For a better understanding of how the “unemployment rate” is calculated, please visit the US Department of Labor’s Bureau of Labor Statistics here:
“The Government conducts a monthly sample survey each month to measure the extent of unemployment in the country. There are about 60,000 households in the sample survey. People are considered employed if they did any work at all for pay or profit during the survey week. This includes all part-time and temporary work. Persons are classified as unemployed only if they do not have a job, have actively looked for work in the prior 4 weeks, and are currently available for work. Those who have no job and are not looking for one are not counted as unemployed.”

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