miami_thomas
VIP Member
- Jan 20, 2011
- 1,019
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I believe we should go to a format of measuring unemployment using the average labor participation rate of 66%. If you look through history the labor force has almost always been just above or just below 66%, until recently. This is why it should be the standard and not the moving target. I mean how much sense does 8.3% being different than 8.3% last month, a year ago, or a year from now all being different. 8.3% should mean 8.3% period. It makes no sense what so ever the way it is now. Currently everyone is boasting an 8.3% unemployment rate. However, that is at the current labor participation rate of 63.9%. If the rate were the average 66%, the unemployment rate would actually be 11.2%. Heck if the labor force was the same as when Obama took office the unemployment rate would be 10.5%. The fact is they use the ability to move the labor force around to make things seem better than they really are. But in the end we are just being lied to.
January 2009
Population 234,739
Labor Force 153,716 Rate: 65.5
Employed: 142,099 Rate: 60.5
Unemployed: 11,616 Rate: 7.6
February 2012
Population 242,435
Labor Force 154,871 Rate: 63.9
Employed: 142,065 Rate: 58.6
Unemployed: 12,806 Rate: 8.3
If labor force was same as 01/09 65.5
Population 242,435
Labor Force 158,794 Rate: 65.5
Employed: 142,065 Rate: 58.6
Unemployed: 16,729 Rate: 10.5
If the labor force was its average rate of 66 the unemployment would be
Population 242,435
Labor Force 160,007 Rate: 66
Employed: 142,065 Rate: 58.6
Unemployed: 17,942 Rate: 11.2
January 2009
Population 234,739
Labor Force 153,716 Rate: 65.5
Employed: 142,099 Rate: 60.5
Unemployed: 11,616 Rate: 7.6
February 2012
Population 242,435
Labor Force 154,871 Rate: 63.9
Employed: 142,065 Rate: 58.6
Unemployed: 12,806 Rate: 8.3
If labor force was same as 01/09 65.5
Population 242,435
Labor Force 158,794 Rate: 65.5
Employed: 142,065 Rate: 58.6
Unemployed: 16,729 Rate: 10.5
If the labor force was its average rate of 66 the unemployment would be
Population 242,435
Labor Force 160,007 Rate: 66
Employed: 142,065 Rate: 58.6
Unemployed: 17,942 Rate: 11.2