Dave’s Diary: False Sense of Job Security
Are you as tired of the misinformation as I am? All I want is the truth in context. I can deal with it. But I gotta have it to make real informed decisions as to the future for me and my family. Bill Wilson is the president of American’s for Limited Government. He’s been a guest on our show before. He cares about this country and he gives us this spot on take of the latest government employment numbers.“122,000 fewer Americans had jobs in November than in October, yet the government reports that the unemployment rate declined to 7.7 percent. This simple fact is why the unemployment rate has become one of the least relevant economic statistics that the federal government releases. Instead of being a benchmark for the nation’s employment situation, it no longer is tied to the real employment situation. Anyone who continues to take it seriously as a meaningful measure of our nation’s economy is either fooling themselves or trying to fool others.”
Trying to fool us!
The number of people who have fallen out of the workforce all together continues to grow. They simply have given up! But instead of showing a picture of an American job market in trouble, the government’s numbers show an “improvement” in the unemployment rate.
That’s technically true but practically dishonest and we need our national media to be on point to point that out. I guess that means we are in trouble twice!