An Ol' Broad's Ramblings
The labor market contracted by 1.2 million people in a month, according to research from Zero Hedge, citing Bureau of Labor Statistics data.
The government reports that the unemployment rate fell to 8.3 percent in January from 8.5 percent in December as the economy has added a net 243,000 nonfarm payrolls to the economy.
However, those who quit looking for work aren’t counted as part of the total labor force, which also isn’t accurately reflecting population growth, which basically allowed the government to yank 1.2 million out of the labor force in January.
Wouldn’t it be nice if this administration would just tell the truth for a change? I know…. I’m asking the impossible! What are the REAL numbers? They can tell us the unemployment rate has dropped to 8.3%, but that doesn’t make it true. How about counting ALL the people who are out of work, who have given up because there are no jobs in their field, and are now having to take government aid? But then, isn’t that what this administration wants? As many people dependent on the government as possible. The ruinous policies of the Obama administration has sunk this country so far into debt, in all likelihood, no matter who wins in 2012, the ability to reverse the damage will be almost impossible in one term. However, giving Obama and his machine a second ‘chance’, will do even MORE damage!