Labor statistics show Obama economy is utterly dismal

Discussion in 'Politics' started by maxpi, Jul 18, 2013.

  1. maxpi


    The following article is from the former labor statistics head...


    Think the economy is bouncing back quickly? Think again, says the former top number-cruncher in charge of the Washington Bureau of Labor Statistics.
    Keith Hall tells the New York Post Thursday that the BLS, White House and media are wasting time focusing on an edited set of data and using it to paint an incorrect picture of the American jobs market on the mend. The current U.S. unemployment level is reported to be around 7.6 percent.
    “Right now [it’s] misleadingly low,” Hall told the New York paper.
    Hall, like many other economists, believes that the more accurate reading of Americans who want a job but can’t find one is north of 10 percent.
    Hall is now a senior research fellow at the Mercatus Center at George Mason University.
    He says the jobless rate that grabs the most headlines -- called the U-3 -- doesn’t factor in people who have stopped looking for work, but does count employed people who have clocked in as little as an hour of work during the prior month.
    Hall says another more accurate indicator of the country’s economic health is in the U-6 number, which factors in the underemployed. That number, he said, jumped in June to 14.3 percent from 13.8 percent the month before.
    “This has been a very slow, very bad recovery,” he said. “And I think the numbers have really struggled as a result. In fact, I’ve been very disappointed in the coverage of the numbers.”
    The July monthly jobs report is scheduled to be released Aug. 2.

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    The "spread the wealth around" crowd are such idiots and liars. Socialism is where we all share what we don't have with everyone, a true fairyland if ever there was one. Obama's tax policies have killed off the recovery. Recovery has to be led by American consumers, he raised taxes and they reduced their spending. A booming recovery is unattainable unless the consumers not only spend but also start building houses. At that point construction workers would start spending and our American economy would be great. Housing starts is very weak and dropping off, we just passed the part of the business cycle where we should be booming and in a couple of years we will be in a really nasty contraction, it's easy to see that.
  2. pspr


    We all know the economy isn't doing any "bouncing back."

    Well, all of us except Rectum and brokenarrow.
  3. Ricter


    Haha, you're still affected.
  4. pspr


    And you are still an ignorant stooge never with a valid argument.
  5. The sad thing is nobody has the courage to do anything about it.

    An entire generation has been hoodwinked.

    Obama is the great savior, the great leader. Doesn't matter what he does. If he asks an Obama lover to commit suicide, you shout, "hope and change!" and pull the trigger.

    “The receptivity of the masses is very limited, their intelligence is small, but their power of forgetting is enormous. In consequence of these facts, all effective propaganda must be limited to a very few points and must harp on these in slogans until the last member of the public understands what you want him to understand by your slogan.”

    “What luck for rulers that men do not think.”
    ― Adolf Hitler
  6. maxpi


    We get those slogans here continually. "Racist", "homophobe", etc. They have been reduced to single words. The Left is sort of mindless really.. I'd like to have a discussion with them sometimes but it's impossible. They are fun to watch sometimes though...
  7. You can stop the charade.

    If you weren't so "affected", you wouldn't have had Pspr on ignore for most of this year, NOR would you have had anybody else who disagrees with you on ignore PERMANENTLY.

    So keep pretending that you have an audience. 17-2 said that you were a complete asshat and we know you and your sock puppet were the only 2 votes that counted in your favor.
  8. Lucrum


    + 52.5