In a word, the Obama Bureau of Labor switched from
using an "establishment survey," one that it has used for decades
[until this month], to the "household survey," which is very
similar to the U6 number described below.
Throughout his 4 years in
office, Labor has used the "establishment survey." This
month, it decided to go with the "household survey," simply because
it sounded better. Understand that when you change out the use of
differing surveys, you have nothing in which you can make a comparison.
In short, this report is nothing more than smoke and mirrors.
U6 Chart from 2000 to the Present
| 2012 | 15.1 | 14.9 | 14.5 | 14.5 | 14.8 | 14.9 | 15.0 | 14.7 | 14.7 |
In order for the Obama numbers to jive with this chart, there
should be a sharp decline extending the red line to just above
the "14" mark. Instead, the past two months show no change
whatsoever . . . the U6 stuck at 14.7%
The Administration claims that 875,000 people found work in
the single month of September; this includes all workers,
whether full-time or part-time. In other words, this is very similar to
a "U6" number by federal definition. Yet, the official U6 listing
shows no change in its percentages.
Conclusion: the Administration and its Department of Labor is
lying.
(Numbers source is Portal Seven, which uses BLS official
should be a sharp decline extending the red line to just above
the "14" mark. Instead, the past two months show no change
whatsoever . . . the U6 stuck at 14.7%
The Administration claims that 875,000 people found work in
the single month of September; this includes all workers,
whether full-time or part-time. In other words, this is very similar to
a "U6" number by federal definition. Yet, the official U6 listing
shows no change in its percentages.
Conclusion: the Administration and its Department of Labor is
lying.
(Numbers source is Portal Seven, which uses BLS official
numbers).
From Portal Seven, you can see the U6 unemployment rate, below. In
August and September, that rate remained the same, 14.7 % while the
U3 rate supposedly fell from 8.3% in July to 7.8% for September, a drop
of 5 tenths in the two month period. Something is wrong, because the
U3 reduction is not mirrored at all, in the U6 rate.
From Portal Seven, a definition.
What is U6 unemployment rate ?
|
The U6 unemployment rate counts not only people without work seeking full-time employment (the
more familiar U-3 rate), but also counts "marginally attached workers
and those working part-time
for economic reasons."
Note that some of these part-time workers counted
as employed by U-3 could be working as little as an hour a week. And the
"marginally attached workers" include those who have gotten
discouraged and stopped looking, but still want to work. The age considered
for this calculation is
16 years and over
|
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