I have to agree PennEd. I don't think 1_StillWaters realizes that if every American was unemployed and also disqualified from being counted in the U3 unemployment rate (the one Still Waters is using) that we would have zero unemployment on paper but yet every single American would also be unemployed.
I imagine the mainstream liberal media would then celebrate 'victory over unemployment in our time'. Ridiculous.
The Bureau of Labor Statistics announcement that unemployment has dropped from 6.7 percent in March 2014 to 6.3 percent in April 2014 was partly attributed to some 800,000 workers dropping out of the labor force last month, reducing the labor participation rate to 62.8 percent, a new low for the Obama administration.
After adjusting the BLS unemployment number to what is known as “U-6” – a measure that includes total unemployed, plus all persons marginally attached to the labor force, plus total part-time employed for economic reasons – unemployment in April was 12.3 percent.
Worse, the amount of income they earn is much lower than it was when Obama took over. This means that real income decreased over time despite the cost of goods and services increasing. Not good.
On top of that, 6
7% of all new job growth in the U.S. went to legal and illegal foreign born immigrants completely bypassing unemployed U.S. citizens. Furthermore,
CIS was able to show that most of these foreign born workers also qualified for social services and took considerably more from social services than they paid in taxes.
Also note that what used to be good paying full time jobs are now minimum wage part-time jobs. But that counts for the U3 unemployment rate. To highlight this problem, in August 2013 the House Ways and Means Committee documented that seven out of every eight new employees under Obama have been part-time employees stating:
“The headlines citing last week’s jobs report as the lowest unemployment rate in years may have been technically accurate, but they are also reminders that looks can be deceiving,” the House Ways and Means report noted at the time.
“The reality, as you dig into the latest jobs data, reveals that few are finding the full-time work they want and need, and many are forced to accept part-time employment.”
Obama didn't notice; however, as he was busy sending more American jobs overseas and creating an ever bigger trade deficit with his three new trade agreements.
http://finance.yahoo.com/news/jobs-disproportionately-low-pay-part-160135116.html
Obama Recovery: 88% of Jobs Created in 2013 are Part-Time!
Income disparity studies tell the tale. People are growing poorer with more of them and resorting to living off government which now dominates the federal budget and is the single greatest reason presently for deficit spending.
Welfare Programs Dominate US Budget, CRS Reports
I haven't even touched the enormous national debt yet we're incurring and guess what: IT MATTERS!