The official unemployment rate dropped from 9.4% to 9.0% in January. Here's the good news from the Bureau Of Labor Statistics (BLS):
The unemployment rate (9.0 percent) declined by 0.4 percentage point for the second month in a row. (See table A-1.) The number of unemployed persons decreased by about 600,000 in January to 13.9 million, while the labor force was unchanged.
Total nonfarm payroll employment changed little in January (+36,000).
Strike up the band !!! The good times are here again........hey, wait a minute. If only a paltry 36,000 jobs were created in January, and unemployment fell by 600,000, that leaves 564,000 people who don't have jobs but aren't being counted as unemployed anymore. What happened to those people ?
The answer is, most of them have been unemployed so long that they've run out of unemployment benefits. Unless you're receiving unemployment benefits, you don't count as being unemployed. Many other people have simply given up looking for work. This is reinforced if you look at employment statistics as opposed to unemployment statistics. Looking at employment, you find that only 58.4% of people aged 16 and over are currently employed. This is the lowest January total since 1983. When Obama took office in January 2009, that number was 60.6%. Employment has dropped by 2.2% since Obama became President. Employment in January 2011 is lower than it was in January 2010.
In addition, if you look at the BLS category of people looking for work, that number has increased by nearly 500,000 over the past year, and has increased during both years of Obama's reign. That is NOT a sign of decreasing unemployment. It is a sign of increasing unemployment.
Democrats spin this into "this administration has created or saved millions of jobs". Obama has also introduced the "supported" jobs category in order to further spin the unemployment picture. I can hardly wait for him to introduce an "imagined" jobs category. Oh wait, he's already done that. He calls them "green jobs". We're going to have millions of those too.
Amazingly, some people actually believe these Democrats. I call such people liberals. They aren't very good with math...or economics...or truth. They think the truth is some evil right-wing plot, or something. Lord knows. I can't keep up with their dissembling.
But whatever they think, the truth remains, and the truth is, unemployment is still rising. If you don't believe me, ask the 564,000 non-persons from January who are unemployed but no longer count as being unemployed by the BLS.
Among the reasons cited for the slow January job growth was the weather:
The government noted that severe weather could have affected construction payrolls, which dropped 32,000 last month. There were also large declines in the employment of couriers and messengers.
Hmmm. Maybe we should pump some more CO2 into the atmosphere to get global warming into high gear to create jobs. That would also increase the length of the growing season and maybe ease the pressures of rising food prices. But I guess liberals are more interested in keeping people out of work and starving. That's why they propose legislation like Cap And Trade, a guaranteed job killer and price riser.
As you listen to the media and the White House trumpet it's great successes on the jobs front...now you know the truth.
Hey, maybe it we quit counting ALL the unemployed people...Voila! Problem solved. We could get the unemployment rate to 0%. I'm surprised the Democrats haven't thought of it yet.
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