103.2 million eating, but not working.
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Showing posts with label The Dumb Ass Unemployment Rate. Show all posts
Showing posts with label The Dumb Ass Unemployment Rate. Show all posts
Friday, June 6, 2025
Friday, May 2, 2025
Friday, April 4, 2025
Friday, March 7, 2025
Wednesday, March 5, 2025
Since Donald Trump wants to move the goalposts for counting the costs of his tax cuts and for calculating GDP, let's use his dumb ass unemployment rate from 2015 from now on, shall we?
Donald Trump had one of the worst annual dumb ass unemployment rates in history in 2020: 38.25%.
Every president between Carter and Obama did better than he did.
Get off your ass you losers and get to work.
Sunday, June 21, 2020
Friday, February 7, 2020
LOL: Donald Trump's crackpot 35% unemployment in February 2016 is 37% today
Jeffrey Snider:
In February of 2016, then-candidate Trump deployed his typical
grandiose, exaggerated style after his win in the New Hampshire primary.
“Don't believe those phony numbers when
you hear 4.9 and 5 percent unemployment. The number's probably 28, 29,
as high as 35. In fact, I even heard recently 42 percent.
[T]he once fake unemployment rate has become his primary campaign symbol.
[T]he once fake unemployment rate has become his primary campaign symbol.
Big Fat Idiot Rush Limbaugh 2/5/2016:
We have an audio sound bite here from Obama ... He was heralding first-time unemployment rate as being under 5% for the first time in seven years ... Well, there’s a reason he said it. It’s because it’s the only way you
can ignore the 94 million Americans not working, not in the labor force ... This is an abject joke. It’s a total joke.
Saturday, February 3, 2018
Saturday, July 8, 2017
Have you noticed that all the dumb ass conservatives in talk radio have stopped talking about this number?
And it's not because they have finally come to understand what this number means. No, it's because they have a different president now, and they're not going to beat him over the head with it.
That's all.
Hey Rush, 94.8 million people not working but still eating! Take the food away! Kids in high school and college and retired people on Social Security have no right to eat if they're not working!
Dumb ass.
Wednesday, January 11, 2017
Steve Liesman tries to be charitable to Trump on 96 million wanting a job, but comes up short 5.9m
From the story here:
Trump said that there "are 96 million wanting a job and they can't get (one). You know that story. The real number. That's the real number."
It is unfortunately very far from the real number. There are in fact 96 million Americans age 16 and older who are not in the labor force. Of this, just 5.4 million, or 91 million fewer than the number cited by Trump, say they want a job. The rest are retired, sick, disabled, running their households or going to school. (This number is 256,000 fewer than last year and 1.7 million fewer than the all-time high for the series in 2013.)
... A more charitable explanation for Trump would expand the number to include those people who are working part time because they can't find full-time work, all the unemployed and those marginally attached to the workforce. This broader measure of slack in the economy, known as the U6, is about 14.7 million. It's the lowest since May 2008, and has come down by nearly 12 million since the worst of the job market effects of the financial crisis in 2010. And remember, many of these folks have work, though it's part time.
This isn't charitable enough because Liesman never adds the 5.4 million to the 14.7 million. He must know you can't do this because that would involve double counting. The monthly Employment Situation Summary always includes the "marginally attached" in the expanded figures, people who are not in the labor force, but they are a subset of the 5.4 million.
But this can easily be remedied, and one wonders why the BLS doesn't do this.
Here's the data, with links.
Not in the labor force, not seasonally adjusted, is 95.8 million.
Not in the labor force, want a job now, not seasonally adjusted, is 5.45 million (peak was 7.2 million in May 2013).
The unemployed represent another 7.5 million from the monthly Employment Situation Summary. Those who work part-time but would rather have full-time represent 5.6 million more in the same report. But both of those groups are in the labor force, a total of 13.1 million.
To those 13.1 million simply add the 5.4 million from not in the labor force above and you get 18.5 million unemployed.
To get that expressed as a percentage you have to add the 5.4 million in to the civilian labor force because they want a job now, here, because the unemployment rate is the unemployed as a percentage of the labor force, which by the addition is now larger, 164.4 million.
So that yields a real unemployment rate of 11.3%. The U6RATE comes up quite short of this, at 9.2%. Meanwhile most people think everything's great because the headline rate is only 4.7% (7.5 million unemployed as a percentage of 159.6 million in the labor force).
There are not 96 million unemployed as Trump laughably says, but neither are there the 12.6 million Liesman ends up with, either.
18.5 million are unemployed in December 2016, at a rate of 11.3%.
It is unfortunately very far from the real number. There are in fact 96 million Americans age 16 and older who are not in the labor force. Of this, just 5.4 million, or 91 million fewer than the number cited by Trump, say they want a job. The rest are retired, sick, disabled, running their households or going to school. (This number is 256,000 fewer than last year and 1.7 million fewer than the all-time high for the series in 2013.)
... A more charitable explanation for Trump would expand the number to include those people who are working part time because they can't find full-time work, all the unemployed and those marginally attached to the workforce. This broader measure of slack in the economy, known as the U6, is about 14.7 million. It's the lowest since May 2008, and has come down by nearly 12 million since the worst of the job market effects of the financial crisis in 2010. And remember, many of these folks have work, though it's part time.
This isn't charitable enough because Liesman never adds the 5.4 million to the 14.7 million. He must know you can't do this because that would involve double counting. The monthly Employment Situation Summary always includes the "marginally attached" in the expanded figures, people who are not in the labor force, but they are a subset of the 5.4 million.
But this can easily be remedied, and one wonders why the BLS doesn't do this.
Here's the data, with links.
Not in the labor force, not seasonally adjusted, is 95.8 million.
Not in the labor force, want a job now, not seasonally adjusted, is 5.45 million (peak was 7.2 million in May 2013).
The unemployed represent another 7.5 million from the monthly Employment Situation Summary. Those who work part-time but would rather have full-time represent 5.6 million more in the same report. But both of those groups are in the labor force, a total of 13.1 million.
To those 13.1 million simply add the 5.4 million from not in the labor force above and you get 18.5 million unemployed.
To get that expressed as a percentage you have to add the 5.4 million in to the civilian labor force because they want a job now, here, because the unemployment rate is the unemployed as a percentage of the labor force, which by the addition is now larger, 164.4 million.
So that yields a real unemployment rate of 11.3%. The U6RATE comes up quite short of this, at 9.2%. Meanwhile most people think everything's great because the headline rate is only 4.7% (7.5 million unemployed as a percentage of 159.6 million in the labor force).
There are not 96 million unemployed as Trump laughably says, but neither are there the 12.6 million Liesman ends up with, either.
18.5 million are unemployed in December 2016, at a rate of 11.3%.
Friday, November 6, 2015
Rush Limbaugh: 94 million not in labor force are ALL on welfare, ALL have an EBT card, ALL getting food stamps, ALL getting disability
Today, here, with the right's version of The Big Lie:
"We don't have 5% unemployment. We've got 20% unemployment. Bob, we have 94 million Americans not working, not in the labor force. They're all on welfare, Bob, one way or another. You are talking about vandals basically coming in and ripping you off at the laundromat. Half of this country is on welfare, Bob. That's another reason why people aren't talking about it. Half the country that votes is on welfare, and they vote for Santa Claus, Bob. And to them, you're Santa Claus. And you're...
"I can understand exactly why you want to sell the business and get out of there. It's probably being stolen from you. Customers in there get harassed by people that want to commit vandalism or crime in there. I have total understanding, relatability, sympathy for what you're going through. But we've succeeded in letting so many people... Bob, 94 million Americans not working, and they all have an EBT card. They're all getting food stamps. They're all getting some form -- many of them -- of disability."
Thursday, October 15, 2015
Rush Limbaugh thinks the 46 million on food stamps are the U-3 "counted" unemployed, many of whom actually can and do work
Yesterday, here:
"Today, there are 46 million Americans unemployed, and 94 million not working. Now, these 46 million people, these are the counted unemployed. This is the U-3 number. The counted unemployed represent 14% of the population."
Limbaugh somehow gets this convoluted mess from here, which he cites but which clearly states the 46 million are those on food stamps, not the U-3 "counted" unemployed:
"The reason you don’t see huge lines of people waiting in soup lines during this Greater Depression is because the government has figured out how to disguise suffering through modern technology. During the height of the Great Depression in 1933, there were 12.8 million Americans unemployed. These were the men pictured in the soup lines. Today, there are 46 million Americans in an electronic soup kitchen line, as their food is distributed through EBT cards (with that angel of mercy JP Morgan reaping billions in profits by processing the transactions). These 46 million people represent 14% of the U.S. population."
In the latest Employment Situation Summary from the Bureau of Labor Statistics for September, those actually counted as unemployed are listed at 7.915 million (2.5% of the population) and the not counted as unemployed at 1.9 million:
"In September, the unemployment rate held at 5.1 percent, and the number of unemployed persons (7.9 million) changed little. Over the year, the unemployment rate and the number of unemployed persons were down by 0.8 percentage point and 1.3 million, respectively. (See table A-1.) . . . In September, 1.9 million persons were marginally attached to the labor force, down by 305,000 from a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. (See table A-16.)"
U-3 is not a number in millions as Limbaugh says but a rate, the percentage of the labor force which is unemployed (7.915 million / 156.715 million), namely 5.1%.
Limbaugh doesn't understand that lots of employed people get food stamps. Individuals grossing up to $15,312 annually can still qualify for assistance.
Almost 49 million individuals made up to but not more than $15,000 annually in 2014.
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The unemployed in Sept. 2015 numbered 7.9 million |
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U-3 is a percentage |
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