The Great Obama Economic F-Show: The real unemployment rate is 42.9%, not 5.5%!

[GunsOfFrankEaton]

Folks, it's way beyond horrible, way beyond what the left-leaning media reports.

At the present time, there are 210 million adult Americans between the ages of 16 and 68—to take a plausible measure of the potential work force. That amounts to 420 billion potential labor hours, if we accept the convention that all adults are at least theoretically capable of holding a full-time job (2,000 hours/year) and pulling their share of society’s need for production and work effort.

By contrast, during 2014 only 240 billion hours were actually supplied to the US economy, according to the BLS estimates. Technically, therefore, there were 180 billion unemployed labor hours, meaning that the real unemployment rate was 42.9%, not 5.5%!


Read more at:
http://investmentwatchblog.com/beyo...nt-rate-was-42-9-not-5-5/#5E0DEmGWyxyDsjCJ.99

 

[Headhunter]

It goes in this order, lies, damn lies and statistics.

Any who believes a government produced stat is a fool.

 

[07pilt]

Folks, it's way beyond horrible, way beyond what the left-leaning media reports.

At the present time, there are 210 million adult Americans between the ages of 16 and 68—to take a plausible measure of the potential work force. That amounts to 420 billion potential labor hours, if we accept the convention that all adults are at least theoretically capable of holding a full-time job (2,000 hours/year) and pulling their share of society’s need for production and work effort.

By contrast, during 2014 only 240 billion hours were actually supplied to the US economy, according to the BLS estimates. Technically, therefore, there were 180 billion unemployed labor hours, meaning that the real unemployment rate was 42.9%, not 5.5%!


Read more at:
http://investmentwatchblog.com/beyo...nt-rate-was-42-9-not-5-5/#5E0DEmGWyxyDsjCJ.99

By this stupid measurement of unemployment, unemployment during the Reagan boom was 41.7% and during the bush housing boom it was 39.3%. Seriously this is so dumb.

Edit: Also including 65-68 year old's in the working age population is also really dumb.

 

[Marshal Jim Duncan]

By this stupid measurement of unemployment, unemployment during the Reagan boom was 41.7% and during the bush housing boom it was 39.3%. Seriously this is so dumb.

Edit: Also including 65-68 year old's in the working age population is also really dumb.

Agreed.

 

[07pilt]

Agreed.

And I think we can agree that 5.5% is no great shakes either.

 

[twiza]

Wouldn't these numbers be counting stay-at-home parents? If so, wouldn't that mean that some of the best years for the middle class would have looked statistically horrible by this measure?

 

[Marshal Jim Duncan]

I do think 5.5% is inaccurate if compared to past measurements. I just think the measuring stick shown in the above link is ridiculously sophomoric and not productive to amy discussion about the subject.

And, yes we can and should do better.

 

[anon_xl72qcu5isp39]

Now conservatives think we have a 42% unemployment rate. Even passing it on! Of course a media conspiracy enables it.

I just.... wow.