That amazing Obama has found a way to improve the jobless numbers seemingly effortlessly, albeit falsely.
Just last week, the White House claimed that unemployment dropped for the fifth consecutive month to 8.3 percent. They further claimed that the economy added 243,000 jobs. President Obama said. “But the economy is growing stronger.” But is it?
Some in the financial community are saying the figures may have been manipulated. Could this be?
The Bureau of Labor Statistics (BLS) report that showed unemployment dropping to 8.3 percent also showed total workforce participation (the number of people either working or looking for work) had declined by 1.2 million people IN ONE MONTH!!!
This one is easy to figure out. You see, the unemployment rate is determined by dividing the number of unemployed job seekers by the total labor force. By reducing the number of workers in the overall workforce, the Obama can magically (and fictitiously) show unemployment dropping, when, in fact, improvement may be marginal, or non-existent.
Did these 1.2 million people cease to exist? Has the Obama administration established a new “Do not call me unemployed list?” Has the BLS hired the Enron accountants to “cook the books?”