The Great Obama Unemployment Lie: Unemployment Rate Drops to 7.7% for November 2012 … Lose 350,000 from Labor Force & 73% of Civilian Jobs Created in the Past 5 Months Were Government Jobs
WHAT A JOKE … THE GREAT OBAMA LIE THAT THERE IS MOMENTUM IN THE JOB MARKET, JOB GROWTH AND THAT THE UNEMPLOYMENT RATE IS GOING DOWN.
Yesterday it was reported that the unemployment rate for November 2012 dropped to 7.7%. Wow, great news right? More people must be getting jobs, so then the job market must be getting stronger. NOT SO FAST MY FRIEND. Although the unemployment rate went from 7.9% to 7.7% in November, a mere 146,000 jobs were created. It is exactly this government lie that the economy is supposedly getting better that is the cover for Obama to raise taxes. Every business, struggling family and out of work individual knows the economy is not getting better. But the fabricated numbers put forth perpetrate the Obama lie that things improving. Everyone knows that it is economic suicide to increase taxes during a recession or struggling economy, so what do you think is going to happen when taxes are raised during this so-called job growth economy?
I can’t believe Americans are buying my BS, fooling these people was easier than I thought
CNBS Video: Rick Santelli: ‘They Love to Fib About Statistics’
The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 4.8 million in November. These individuals accounted for 40.1 percent of the unemployed. (See table A-12.)
The civilian labor force participation rate declined by 0.2 percentage point to 63.6 percent in November, offsetting an increase of the same amount in October. Total employment was about unchanged in November, following a combined increase of 1.3 million over the prior 2 months. The employment-population ratio, at 58.7 percent, changed little in November. (See table A-1.)
So how does the rate tick down so much with so few jobs created? The unemployment rate did not go down because there is job growth, it went down due to workers leaving the work force. As reported at the Heritage Foundation, The labor force declined by 350,000 and the labor force participation rate declined to 63.6%. More reported at Zero Hedge with easy to to charts that show the real reason why the unemployment rate dropped as as the number of people out of the labor increased by over 540K to 88,883,000.
The only reason that the unemployment rate fell was because more people dropped out of the labor market than actually found jobs. The labor force declined by 350,000 and the labor force participation rate, a measure of potential workers, declined to 63.6, the same level as reported in September. The recovery is well underway, yet potential workers continue to remain on the sidelines and out of the labor market. One reason is that approximately 1.5 million more potential workers are on the disability rolls now as compared to 2007. It is doubtful that many of them will ever return to the labor force, lowering future economic growth.
Just when you thought that what little jobs that were being created was a good thing … THINK AGAIN. The key word America is “think”. As reported at CNS News, as private sector companies are laying people off in droves, 73% of civilian jobs created in the past 5 months were government jobs. What a great job recovery, one fueled by the government creating 7 in 10 jobs and John Q. Public, “We the People” having to pay their salaries. So how is this good for the economy?
In June, a total of 142,415,000 people were employed in the U.S, according to the BLS, including 19,938,000 who were employed by federal, state and local governments.
By November, according to data BLS released today, the total number of people employed had climbed to 143,262,000, an overall increase of 847,000 in the six months since June.
In the same five-month period since June, the number of people employed by government increased by 621,000 to 20,559,000. These 621,000 new government jobs created in the last five months equal 73.3 percent of the 847,000 new jobs created overall.
You elected this America. You wanted four more years of this fiasco. Maybe some of you should just keep to voting for American Idol only. I wonder how the MSM would have reported these terrible jobs numbers if a Republican had been president?