Filed under: Capitalism, Domestic Policy, Economy, Election 2012, Liberalism, The United States | Tags: Fewer in Labor Force, Obama Campaign Spin, The Real Unemployment Rate
The news reports today that the payroll employment rate rose 115,000 in April, and the unemployment rate has changed little at 8.1%. That sounds good, but it isn’t true, or at least it does not represent reality, because of the way that the Bureau of Labor Statistics reports statistics.
The real unemployment rate is 11.6%. The 115.000 rise in employment was far below expectations. Remember that the size of the potential labor force is growing all the time as population increases and more people enter the labor force.
There are 88,419 000 people not in the labor force, an increase of 522,500 from last month’s labor force number of 87,897,000. And more people who are working are holding part-time jobs. Full-time jobs dropped from 114,478,000 from 115,290,000.
I sometimes wonder if the Left refuses to consider any suggestion from Republicans simply because it comes from Republicans. Obama keeps insisting that the economy is recovering, fut he has no answer for job growth.
“The president who used stimulus dollars to build electric cars in Finland and sought to be Brazil’s best oil customer now complains the GOP nominee built his career outsourcing jobs.” Investors exposes some of the baloney by the Obama campaign. The campaign has released an ad saying that “Mitt Romney shipped American jobs to places like Mexico and China” when he led the investment firm Bain Capital. An odd accusation since blocking the Keystone XL pipeline, as Obama has done, will cost the economy the 20,000 jobs that would quickly be added to the economy.
The campaign is not doing their homework though, Bain Capital and Mitt Romney saw the creation of tens of thousands of jobs by companies like Staples, Sports Authority and Domino’s Pizza. But they accused Romney of having a grandfather who was a polygamist too. It was his great-grandfather, when that was part of Mormon custom. And they ignored the fact that Obama’s father had multiple wives, as did his grandfather.
The mainstream media is increasingly willing to coordinate what they report with what the administration reports uncritically. It makes it hard to understand what is real and what is not.