David Stockman Shock Blog: The Real Unemployment Rate Is 42.9%

[nashvillegoldenflash]

Liberals may not understand this but the overlooked economic statistic in the unemployment rate is the labor participation rate. That is the percentage of working people eligible to work. The truth of the matter, the reported unemployment rate is meaningless because it only shows how many non-working people are getting unemployment benefits. According to David Stockman (click web address below), the actual unemployment rate is 43%, those on the take or those enabled or those on entitlements. That means that only 57% of the country actually work and a portion of that is public sector employment which is paid for with tax dollars. In 2012, that number was over 16% (I'm not sure what it is today). But if you use that number, you actually only have about 40% of the country productively assimilated into the private sector who support the other 60% of the country. BBJ, no wonder liberals love big government.

http://www.rushlimbaugh.com/daily/2...shock_blog_the_real_unemployment_rate_is_42_9

 

[MidTnBlues]

Im not sure what "liberals" are saying since I dont get my news from leaning news sites on either side of the aisle but I have yet to see a single economist I follow throw confetti about the numbers on this. Stockman is not calculating "missing workers" in a way that I would consider reasonable. Most will look at prime aged workers ages 25 to 54 and calculate an alternate unemployment rate which should be about 7.3% if you vonsider the demographics. I think the EPI had about 200 million people listed in their missing worker data that were 55 to 74.The prime-age labor force fell by 245,000 in June and that is a concern that most economists are looking at and not being overlooked at all.