Obama Manipulates Numbers to Get Unemployment Under 9%
RUSH:
I don’t want to be an I told you so, but I told you so, and I told you
so five weeks ago. Gallup, every week, puts out their own unemployment
numbers and Gallup has been signaling that this day unemployment below
9% was coming. They’ve been blatantly saying so, based on their own
unemployment data, which is not related to the Bureau of Labor
Statistics reports. It’s their own surveys; and in the last five weeks,
occasionally they will say that their numbers that they come out with
on a Wednesday or Thursday indicate that we’re getting very close to a
Bureau of Labor Statistics unemployment number of under 9%. I said,
“The regime needs this, and when we finally get to under 9%, it will be
eight-point-something, but the point-what won’t matter. The only number
that’s going to matter is the eight.
Well, Happy Holidays. They don’t do Merry Christmas in the media. But we’re back, it’s done, they got the headline: “Unemployment, 8.6%!” Now, the truth of the matter is — and Bloomberg News even points out that the only way — it’s a corrupt number. It is a corrupt number. Folks, the number of people who have quit looking for work in the last few weeks is 315,000. Those are the people have thrown up their hands after 99 weeks or more of being unemployed; and they’ve said, “I’m quitting. I’m not looking.” So they’re not counted. Therefore, the universe of jobs available in the country is down by 315,000. That is the labor force participation rate. The labor force participation rate is a meager 64%. It fell to 64% from 64.2%. So the 0.2% drop equals 315,000 people leaving the workforce.
That means there are 315,000 fewer jobs to have, so the universe of jobs has been steadily shrinking. What was the number of jobs created? It’s 120,000 jobs. It’s 120, 126,000, whatever. That’s in the ballpark. That number of jobs created can lower unemployment rate 0.4%, almost one half of a percent? Creating 120,000 new jobs can do that? That alone tells us how small the labor force participation rate is. That tells us how small the universe of available jobs in the country is, when creating 120,000 — and we still have, don’t forget, over 400,000 applications for unemployment compensation reported yesterday. So just 120,000 new jobs can lower the unemployment rate almost a half a point. That’s not possible without that 315,000 figure, the 315,000 people who have just walked away.
Well, Happy Holidays. They don’t do Merry Christmas in the media. But we’re back, it’s done, they got the headline: “Unemployment, 8.6%!” Now, the truth of the matter is — and Bloomberg News even points out that the only way — it’s a corrupt number. It is a corrupt number. Folks, the number of people who have quit looking for work in the last few weeks is 315,000. Those are the people have thrown up their hands after 99 weeks or more of being unemployed; and they’ve said, “I’m quitting. I’m not looking.” So they’re not counted. Therefore, the universe of jobs available in the country is down by 315,000. That is the labor force participation rate. The labor force participation rate is a meager 64%. It fell to 64% from 64.2%. So the 0.2% drop equals 315,000 people leaving the workforce.
That means there are 315,000 fewer jobs to have, so the universe of jobs has been steadily shrinking. What was the number of jobs created? It’s 120,000 jobs. It’s 120, 126,000, whatever. That’s in the ballpark. That number of jobs created can lower unemployment rate 0.4%, almost one half of a percent? Creating 120,000 new jobs can do that? That alone tells us how small the labor force participation rate is. That tells us how small the universe of available jobs in the country is, when creating 120,000 — and we still have, don’t forget, over 400,000 applications for unemployment compensation reported yesterday. So just 120,000 new jobs can lower the unemployment rate almost a half a point. That’s not possible without that 315,000 figure, the 315,000 people who have just walked away.
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