Friday, August 7, 2009

No Longer Trust the Unemployment Rate

I always thought the unemployment rate was reliable, well I have learned the hard way, as this morning I woke up to 250,000 more Americans unemployed, reports of future layoffs expected to be very high, and that the unemployment rate has fallen to 9.4%. Say what?

America just lost another 250,000 jobs, so the unemployment rate should be going up........well, the formula the Labor department uses, is misleading. They do not count those that have given up looking for a job, why they do not count every single unemployed American, I have no idea, considering an unemployed person whether looking for a job or not, is still unemployed, I would think the rating would reflect that.

What do we learn from this? When you hear some left-wing loon, or even some Conservatives who are stupidly falling for this, they are reading misleading ratings from the Department of Labor, given not only the American people a false outlook on the economic situation in America, but those in the United States Congress as well, unless they understand the faulty reasoning behind the unemployment rating.

Also, they are saying "the stimulus is working", the construction industry lost another 75,000+ jobs in July, further proving that the stimulus is a crock of crap.


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