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    Obama Finally Figured Out How To Drop Unemployment Rate

    Obama Finally Figured Out How To Drop Unemployment Rate

    So stifle the economy and scare employers into not hiring that people simply give up looking for jobs, and therefore are not counted in the unemployment rate.

    That is what the jobs numbers just released show (emphasis mine):

    Employers cut 125,000 jobs last month, the most since last October, the Labor Department said Friday. The loss was driven by the end of 225,000 temporary census jobs. Businesses added a net total of 83,000 workers, an improvement from May. But that’s also below March and April totals.

    The nation has 7.9 million fewer private payroll jobs than it did when the recession began.

    Analysts expected private payrolls to rise by about 110,000, according to Thomson Reuters. The report indicates that businesses are still reluctant to hire as the economy slowly recovers form the worst recession since the 1930s.

    The unemployment rate fell as 652,000 people gave up on their job searches and left the labor force. People who are no longer looking for work aren’t counted as unemployed.

    Is this another “breakthrough month“? Still talking about “Barack Obama Deficit-Slayer”?

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    Related Posts:
    Unexpected Jump In Jobless Claims
    Jobs Recovery, We Hardly Knew Ya

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    Comments


    I recall that that this accounting method was first introduced to the Federal Government during the Reagan Administration and has continued since.

    I don't understand, what "they stopped looking" means. How do they know what someone is thinking? Or why they don't have a job? How does the government tally up all the 200k people that are being let go of unemployment and are now, not being tracked anywhere? How do they keep track of them? If the 200k every week are left out, where do they go?

    Clearly, the only value inherent in government statistics is the employment of statisticians; in large numbers.

    Just as the secondary purpose of our tax system is to guarantee employment for large numbers of accountants and lawyers; as well as to provide safe havens for those who can afford the aforementioned accountants and lawyers. The primary purpose is, of course, to give politicians the ability to buy votes with others' money by spreading wealth to specific classes of citizens.


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