VERSIONS: روسيا اليوم NOTICIAS FREEVIDEO ИНОТВ RTД
breakingnews
Go to main page   USA   News   No, America's unemployment rate is not 8.6 percent  
MORE ON THE STORY
Specialist Michael Olivas from Fresno, California of 3rd Squadron. (AFP Photo/Liu Jin) 29.11.2011, 04:21 58 comments

Battlefield US: Americans face arrest as war criminals under Army state law

America is opening up a new warfront and it’s in your own backyard. It’s in your neighbor’s house, it’s three states over and it’s on the other side of the Mississippi.

Defense Authorization Act
Washington : European Commission President José Manuel Barroso (R) speaks following a summit with US President Barack Obama November 28, 2011. (AFP Photo/Mandel Ngan) 29.11.2011, 02:06 17 comments

Obama to bail out Europe?

Officially it never was called an "Emergency summit." But with the European currency only days from collapse according to many economists, it was clear that European leaders came to beg the American president for help.

Eurozone crisis
Alabama on the brink of exodus 26.11.2011, 00:51 8 comments

Alabama on the brink of exodus

A US District judge in Alabama has made a move that will block legislation in the state’s controversial immigration bill, a step that is earning support from Hispanics and temporarily slowing the mass exodus out of Alabama.

Homeless vets more likely to die on the streets 12.11.2011, 01:44 10 comments

Homeless vets more likely to die on the streets

A new study reveals that while veterans represent only 9 percent of the population nationwide, 15.2 percent of America’s homeless have served their country — and when compared to non-veterans, they are much more likely to die on the streets.

One year to election, Americans still hoping for for change 08.11.2011, 02:31 1 comment

One year to election, Americans still hoping for change

President Obama campaigned under the promise of hope and change. But one year until America elects a president, some ask: where is the change Obama promised?

John Moore / Getty Images / AFP 05.11.2011, 04:53 7 comments

No homes or jobs for US vets

America’s veterans are returning home from wars to staggering unemployment and homelessness rates. RT reports on what life post-war is like for thousands of US servicemen.

No, America's unemployment rate is not 8.6 percent

Published: 02 December, 2011, 22:34

No, America's unemployment rate is not 8.6 percent

No, America's unemployment rate is not 8.6 percent

TAGS: Scandal, History, USA, Employment, Economy


That's just another lie fed to you by the mainstream media and the US government.

News from the Labor Department on Friday revealed that the unemployment rate in America miraculously improved, with only 8.6 of the country without jobs. If you think the news was too good to be true, that’s because it is.

As the Department of Labor tells America that the percentage of the country without jobs is at a two year low, many Americans celebrate what hopes to be a recovery from a long-lasting recession that has spawned dire unemployment figures for over two years. On the contrary, the statistics for November are represented as good as the government makes it up to be because just that — it makes them up.

Yes, the US economy spawned around 120,000 jobs last month, but at the same time, around 315,000 Americans left the labor force — that is, they simply gave up. While 8.6 of Americans are unemployed in the sense that they are out of a job and actively seeking work, hundreds of thousands of people have simply stopped even trying to get a paycheck.

November’s figure, 8.6 percent, is actually the proportion of Americans unemployed, “as a percent of the civilian labor force,” as per the official definition from the Labor Department (a figure it refers to as “U-3,” the official unemployment rate). When considering those that fit that definition as well as discouraged workers (U-4), those marginally attached to the work labor force (U-5) and those that are employed part-time and seeking full-time employment but can’t find it, the Labor Department has another statistic, which it refers to as U-6; for the month of November, that figure is at 15.6 percent.

The actual number of Americans who have given up a while ago isn’t firm, but the latest statistics — though painted pretty by the Department of Labor — reveal that November saw 315,000 new Americans abandoning their job hunt.

“You’d like to see the unemployment rate coming down when people are coming into the job market, not disappearing,” James Glassman of New York City’s JP Morgan Chase & Co. tells Bloomberg News. “That’s probably exaggerating the trend in unemployment.”

As civilians leave the labor force, obviously the percentage of those participating in the market drops as well. Should the jobless numbers be compared to those participating in the labor force when Obama entered office in 2009, the U-3 unemployment rate would be at around 11 percent now, reports CNBC contributor James Pethokoukis.

Even taking into account the Labor Department’s definition of what counts as employed, 20 of the 50 states in America (plus the District of Columbia) saw jobless figures exceeding 9.0 percent for the month of November. In California and Washington DC, numbers were at or above 11 percent; in Nevada: 13.4 percent.

Steve Eggleston of Hot Air adds that this seasonal drop in the civilian labor force is “almost unprecedented” for this time of year. “Since 1982, there have been only seven times the labor force has dropped between an October and a November, and only three times has the drop been even close to this steep,” adds Eggleston.

+72 (86 votes)
 
Back to top
next MORE NEWS
Brendan Smialowski / Getty Images / AFP 02.12.2011, 20:50 83 comments

Senate approves indefinite detention and torture of Americans

The terrifying legislation that allows for Americans to be arrested, detained indefinitely, tortured and interrogated — without charge or trial — passed through the Senate on Thursday with an overwhelming support from 93 percent of lawmakers.

Defense Authorization Act
Newt Gingrich: the man who saved porn 03.12.2011, 00:02 26 comments

Newt Gingrich: the man who saved porn

Newt Gingrich doesn’t like a lot of things.

US Election 2012
bestrader December 14, 2011, 13:03
-1

I know this is going to be hard to believe, but I promise you it's 100% true, the price of Gold is controlled by a computer program, not by the free market of buying and selling. So what does this mean to you? Google “Gold Trading Academy” to learn more.

Bru Raczin December 07, 2011, 06:39
+2

....and once your unemployment runs out you are no longer counted as being in the workforce!!  Look at the next statistic....for number of Americans Below the poverty line.  (then look at the number of Chinese who have Increased Above the poverty line!) 

Josh Jaye December 06, 2011, 12:28
+11

Remember when the Govt hired a few thousand people to perform the census? Within two weeks, the Govt used the numbers of the newly employed census-takers to prove that jobs had been created under the Obama Administration, knowing full well that those were temporary jobs that would be finished in just a few weeks. Did that fact deter the Govt from calling a press conference to spread the 'good news'? Unfortunately, there is an element of people who will believe any propaganda that the Govt decides to throw out there. I'm caught between calling them gullible, naive, or just plain stupid.