You are running for election. For the entire time you were in the position you currently hold the jobs market never got any better. You kept claiming to have created jobs but the damn unemployment rate kept holding . Then slowly at a rate that would take 15 years to return the nation to 5% unemployment the jobs started coming back at an agonizingly slow rate. Quick, you have 10 months to convince everyone you are a good leader and deserve 4 more years, what do you do?
If you are the Obama Administration you have the Bureau of labor and Statistics adjust the way unemployment is gauged. You do it by blaming 2010 Census data. How? Read the following.
The adjustment increased the estimated size of the civilian noninstitutional population in December by 1,510,000, the civilian labor force by 258,000, employment by 216,000, unemployment by 42,000, and persons not in the labor force by 1,252,000. Although the total unemployment rate was unaffected, the labor force participation rate and the employment-population ratio were each reduced by 0.3 percentage point. This was because the population increase was primarily among persons 55 and older and, to a lesser degree, persons 16 to 24 years of age. Both these age groups have lower levels of labor force participation than the general population.
How about that. Barack Obama’s good friend Jon Corzine made 1.2 billion dollars disappear at MF Global (no prosecution to date on this one) and now the US Government just took 1.2 million jobs off the rolls. From now on the government says that there are just 1.2 million fewer jobs out there. That is one easy way to get the unemployment rate lower fast enough to ensure you don’t look as bad as you really are.
By saying that the 16 to 24 and the over 55 crowd are just less employed is ridiculous. We are living longer and many are still working into their seventies. I work with one of them. This is a number trick designed to make the rate drop enough to make you feel good.
How about these headlines
Jackson Health System will announce “significant” layoffs in about two weeks
Tweet signals Microsoft marketing layoffs
Dallas police on standby as American Airlines set to announce layoffs
These are not small potatoes companies.
The smoke and mirrors of this President continue. November will be here soon. Vote Obama out for the sake of your job!