Obama’s Unemployment Rate Is 5.9% ~ But 5.9% Of What?: 29% Of U.S. Labor Population Out Of Work And Out Of Labor Force!

 

 

Obama’s new math. US unemployment has supposedly dropped to 5.9%. While 29% of the workforce remains out of work and out of the labor force.

Political Vel Craft

unemployment 2014

While by now everyone should know the answer, for those curious why the US unemployment rate just slid once more to a meager 5.9%, the lowest print since the summer of 2008, the answer is the same one we have shown every month since 2010:

the collapse in the labor force participation rate, which in September slid from an already three decade low 62.8% to 62.7% – the lowest in over 36 years, matching the February 1978 lows.

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4 thoughts on “Obama’s Unemployment Rate Is 5.9% ~ But 5.9% Of What?: 29% Of U.S. Labor Population Out Of Work And Out Of Labor Force!

  1. Hi Doc – administrations having been playing with that trick for years. If you give up looking for work because you can’t find any job worth taking, they stop counting you. All other things being equal, the unemployment rate goes down. Fun with statistics.

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  2. Having witnessed the offshoring of corporate manufacturing to Asian shores as a business plan and institutional strategy, over the decades, I have interpreted financial professional’s comments that power is shifting “from West to East” as a plan being implemented:
    Global Monetary Reset With China’s Leadership?

    Yet, the intentional obfuscation of job loss continues…

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