The “official” unemployment rate has dropped from a high of 10.1% in October of 2009 to 9.7% in February. How did this happen when over these last four months there has been no net job creation? Labor experts tell us that the economy has to create 100,000 jobs per month just to stay even with the unemployment rate. This means that 400,000 jobs would have had to be created just to keep the unemployment rate steady at 10.1%. Yet the rate dropped — what’s going on?
If one were to check the BLS numbers for these months, one would find that the number of seasonally adjusted full time workers has stayed the same over this period. However, their statistics show 800,000 fewer people looking for work — no wonder the unemployment rate has dropped! Who among us believe these numbers are real? (Is there no courageous employee of the Labor Department that can leak what is going on to the media on this?)
Next Friday we will get the March numbers for unemployment. Anyone want to take odds that they will drop? I believe based on these last several months that the unemployment rate could drop below 9.5%. If this happens, the MSM and the Democrats will hail this as the recovery is taking root. What a load that will be. Let us not forget that the U.S. Census Bureau is hiring 600,000 part time workers in March to do Census interviews over the next 4 months which should tide the Democrats right up to the election.
Something is afoul of common sense. We need someone with statistical expertise to really run forensics on these labor statistics to find out what is really going on or the Democrats will game these stats all the way to the November elections.