Unlike the Bureau of Labor Statistics which has a vested interested in goosing the unemployment numbers to make them look better than they really are using so-called “seasonal adjustments” and dropping people out of the labor force altogether so they are no longer “unemployed,” Gallup conducts their own survey using straight numbers. Unfortunately, the news isn’t good as the rate has jumped to 9% from 8.3% in January. Perhaps they need to drop the “L” from “BLS” so its acronym suits it better.
If you think the economy is getting better, most facts don’t reflect that. I’m sure our friend here Ken will weigh in with “Dow 13,000!”, etc. Are there glimmers here and there? Sure, but we are by no means in any sort of robust recovery and the regulatory climate as well as uncertainty over tax policy has stifled what should be strong economic growth by now. Spiking gas prices won’t help things, either.
The survey also found that “underemployment” – those unemployed and those working part-time because full-time jobs are unavailable – rose to 19 percent, up from the 18.7 percent Gallup found in January.
America is in real trouble, folks. This is starting to look and feel like Japan’s “lost decade.”
Filed under: 2012 Elections, Teleprompter Barry, Urkelnomics
