Posted 5 years ago on Oct. 5, 2012, 10:38 a.m. EST by Underdog
from Clermont, FL
This content is user submitted and not an official statement
Given the choice of two evils, I will take Obama over Romney any day of the week. The latest 7.8% unemployment figure released today should help bolster the President's campaign for re-election. But politics aside, the MSM does not report the more realistic U6 data, but instead only reports the official U3 data as released by the Bureau of Labor Statistics (BLS).
Just take a look at this link and study it for a moment. Note that U6, currently at 14.7%, includes the following definition: "U-6 Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force"
And did you see the NOTE at the bottom? Persons marginally attached to the labor force are those who currently are neither working nor looking for work but indicate they want and are available for a job and have looked for work sometime in the past 12 months. Discouraged workers, a subset of the marginally attached. have given a job-market related reason for not currently looking for work. Persons employed part time for economic reasons are those who want and are available for full-time work but have had to settle for a part-time schedule.
The U6 data is the truer indication of unemployment in the US today and it is the data that should be reported in the media. Yet, it hardly ever gets any mention whatsoever. Why? (rhetorical question). It is obvious that the state of unemployment in the US today is very, very dire. Neither candidate would want to have that information widely known to the public. So the official U3 unemployment data is a conjob.
This cartoon sums up the situation in a nutshell.
Government and politicians need to come clean on the true state of unemployment in America. Anybody want to put a bet down on when that will happen?