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In reply to the discussion: Payroll employment rises by 173,000 in August; unemployment rate edges down to 5.1% [View all]jtuck004
(15,882 posts)3. The Real State of Unemployment - In 1994 the Clinton...
I like knowing when people are trying to train or re-frame my viewpoint.
The Real State of Unemployment
Submitted by Paul Craig Roberts on August 17, 2015 - 5:22am
Do you remember when real reporters existed? Those were the days before the Clinton regime concentrated the media into a few hands and turned the media into a Ministry of Propaganda, a tool of Big Brother. The false reality in which Americans live extends into economic life. This month's employment report was a continuation of a long string of bad news spun into good news. The media repeats two numbers as if they mean somethingthe monthly payroll jobs gains and the unemployment rateand ignores the numbers that show the continuing multi-year decline in employment opportunities while the economy is allegedly recovering.
The so-called recovery is based on the U.3 measure of the unemployment rate. This measure does not include any unemployed person who has become discouraged from the inability to find a job and has not looked for a job in four weeks. The U.3 measure of unemployment only includes the still hopeful who think they will find a job.
The government has a second official measure of unemployment, U.6. This measure, seldom reported, includes among the unemployed those who have been discouraged for less than one year. This official measure is double the 5.3% U.3 measure. What does it mean that the unemployment rate is over 10% after six years of alleged economic recovery?
In 1994 the Clinton regime stopped counting long-term discouraged workers as unemployed. Clinton wanted his economy to look better than Reagans, so he ceased counting the long-term discouraged workers that were part of Reagans unemployment rate. John Williams (shadowstats.com) continues to measure the long-term discouraged with the official methodology of that time, and when these unemployed are included, the US rate of unemployment as of July 2015 is 23%, several times higher than during the recession with which Fed chairman Paul Volcker greeted the Reagan presidency.
...
http://www.economicpopulist.org/content/real-state-unemployment-5816
the wiki article about the '94 changes has some references, detail.
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Payroll employment rises by 173,000 in August; unemployment rate edges down to 5.1% [View all]
mahatmakanejeeves
Sep 2015
OP
Meaning...we can exclude all your further posts as the usual Gloom and Doom bucket brigade on duty?
Fred Sanders
Sep 2015
#7
Facts are good, especially when one can limit them to those that serve their point of view. But
jtuck004
Sep 2015
#8
I'm sorry, that's all hogwash, but that's to be expected from Paul Craig Roberts
progree
Sep 2015
#9
Is that '95? Doesn't address 93-94 at all, so maybe the hog is still dirty. But the link
jtuck004
Sep 2015
#10
Yes, it addresses 1993-1994. And before. Its a long tedious read, I suggest you read it.
progree
Sep 2015
#11
Wish I could rec your response. In general everything from PCR is nonsense.
stevenleser
Sep 2015
#15
Great news...ignore the doom and gloomers, they will forever be that! Media, you on this!
Fred Sanders
Sep 2015
#6
Joe and Mika were going to cover it at 8:30 this morning but I had decamped and gone
CTyankee
Sep 2015
#12