Never trust politicians or statistics, and certainly not the two of them together. Despite recent claims that the jobless rate is falling, an honest look at the spin behind the numbers tells us otherwise.
In the last year, the civilian population rose by 1,726,000. Yet the labor force fell by 67,000. Those not in the labor force rose by 1,793,000.
In November, those “Not in Labor Force” rose by a whopping 487,000. If you are not in the labor force, you are not counted as unemployed.
Were it not for people dropping out of the labor force, the unemployment rate would be well over 11%.
People so discouraged by their economic situation that they’ve completely given up on trying to find work should not be victimized again by politicians using their dispair to claim that the economy is actually doing better.