Tuesday, February 8, 2011
Unemployment figures do not figure
The U.S. Labor department reported the nation’s unemployment rate for January dropped from 9.4% to 9%, dropping an almost half of a percentage point. This was accomplished by adding 36,000 jobs in January per the government.
Time for Tony’s class, “Economics 101.” Using the government’s figures that a half of a percentage point in the unemployment statistics represents 36,000 jobs. This left the nation at 9% unemployment. 9% has 18 halves, each half representing 36,000 jobs. Take the 18 halves and multiply it by the 36,000 jobs, it equals 648,000 jobs. Meaning if the nation created 648,000 jobs we will be at zero unemployment.
Problem: There are 15 million unemployed, not 648,000. So did the government lie when they said adding 36,000 job lowered unemployment to 9%? Did we create more than 36,000 jobs to get to 9%? Or is it in fact the unemployment remains higher than 9% even with those 36,000 jobs added.
36,000 (Jobs created in January)
x 18 (half percentage points)
= 648,000 jobs needed for zero unemployment
Problem: 15 million people are unemployed, not 648,000.
Remember folks, the Labor Department is under the thumb of the Obama Regime and them thar Democrats. Democrats and their goose-stepping buddies in the news media have a long history with deceptive reporting and politics.
Posted by Tony aka: PropagandaBuster at 12:08 PM
Labels: Unemployment rate labor department figures lie Democrat liars new jobs underemployment jobless 9 percent economics 101 data manipulation Obama economy news media bias