Friday, September 4, 2015

Unemployment rate drops to 5.1% as more people not counted than actually got a job

There comes a certain point in time when manipulated data moves from that of subtle deception to the blatantly absurd, and today’s jobs report appears to have finally tilted those numbers fully into Bizzaro World.  Coming in well below analyst expectations, new jobs created were a lackluster 173,000 bringing the unemployment rate to a level not even seen during the Reagan years when there were less people, and more real opportunities in the economy.
And while 173,000 new jobs, and a 5.1% unemployment rate may be seen as a victory to some who most often never look beyond the headline numbers, the sad fact is 261,000 vanished from even being counted in the job market bringing the labor participation rate to an all time record of 94 million Americans not only out of work, but not even recognized by the Bureau of Labor Statistics.


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