The unemployment rate dropped to 8.6% in November 2011 from 9% in October. That’s a 4-tenths-of-one-percent drop, which is hyped as huge. If it were true. To get to 8.6%, September and October jobs were adjusted up. Here are 17 things to think about and how the math works.
1) We must create 250,000 per month for years, to keep up the population growth and to take the unemployment rate back to 6%,
2) According to Bureau of Labor statistics, in November we created 120,000 jobs.
3) A side note: Government jobs decreased by 20,000 in November. YAY!
4) Retailers are responsible for the largest portion of the hiring to take care of Thanksgiving and Christmas traffic – mostly temporary jobs. Don’t expect January 2012 to be pretty.
6) In November, the average length of unemployment rose to a record high of 40.9 weeks.
7) In November, 315,000 people quit looking for a job, may have lost their unemployment benefits and are no longer showing up as unemployed.
8] We did not create 315,000 jobs, thus lowering the unemployment rate, we had 315,000 job seekers who gave up – no longer looking.
9) We created 120,000 jobs – only!
10) The “labor participation” rate tells the story. The rate was 64.2% to 64%. The 2-tenths-of-one-percent drop equals 315,000 bailing out all records tracking the unemployed.
12) “Bloomberg News is even reporting this means that more people left the workforce than got jobs. Now, stop and think of this. More people left the workforce than got jobs, and the unemployment rate goes down? We’re dealing here with a serious form of corruption, manipulation of data;…”
RUSH: Let me give you another way of illustrating what the regime did to get to this unemployment number, and it is very similar to how baseline budgeting works.Â Another way of looking at this is this. You had 120,000 jobs that were created.Â You have 315,000 people who dropped out.Â What you do is add those together and you get a number 435,000, and that 435,000 the government today says are no longer unemployed.Â So 435,000 jobs created… No.Â No, no.Â Let’s not go that far. So, 435,000 people no longer unemployed results in an unemployment rate dropping from 9.0 to 8.6.Â See how that works?Â This is what they do.Â This is what they did.
This is how it happens: 120,000 people find work, 315,000 quit looking; those 315,000 are no longer called unemployed.Â That’s the U3 clarification, qualification.Â U3 is made up of people looking for work and people who have lost their jobs and so forth.Â The 315,000 stop looking.Â They are added to those who are unemployed, and you get a grand total of 435,000.Â That’s how it happens.Â ~ Rush Limbaugh
13) The work force is smaller by 2.5 million jobs since Obama took office.
15) Think about this: a drop of 315,000 at the highest hiring time of the year is no normal, or generally expected.
16) Obama’s fuzzy math: Â ”The American workforce is 153 million. The unemployment rate went from 9% down to 8.6% – do the math [153,000,000 X .004 = 612,000]. That should be an increase of 612,000 jobs. Now we find the actual number is 120,000 jobs. [612,000 minus 120,000 = 492,000] We are missing 492,000 jobs…300,000 are people who have given up [492,000 minus 300,000 = 192,000] We’re still missing 200,000 jobs…I’m telling you, there’s something wrong here.” ~ Eric Bolling. See the graphic above and the video below.
17) The trend has been for good numbers to be released from the government on numerous political issues, then late on a Friday a couple of months later, new numbers are released and they are not nearly as “good.” This time it’s the opposite: September and October unemployment numbers were released and then revised up (better)…perhaps to help move the November unemployment number down.
Bottom line: The math isn’t fuzzy, it’s corrupt. If the video disappears or does not work, view it here.