{"id":11975,"date":"2015-09-08T06:52:27","date_gmt":"2015-09-08T11:52:27","guid":{"rendered":"http:\/\/olduvai.ca\/?p=11975"},"modified":"2015-09-08T06:52:27","modified_gmt":"2015-09-08T11:52:27","slug":"if-you-want-to-know-the-truth-about-the-unemployment-rate-read-this-article","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=11975","title":{"rendered":"If You Want To Know The Truth About The Unemployment Rate Read This Article"},"content":{"rendered":"

If You Want To Know The Truth About The Unemployment Rate Read This Article<\/a><\/h3>\n

\"Lie<\/a>The Obama administration is telling us that the unemployment rate in the United States has fallen to 5.1 percent, but does that number actually bear any resemblance to reality?\u00a0 On Friday, news outlets all over America celebrated the fact that the U.S. economy added 173,000 jobs in August.\u00a0 We were told that the unemployment rate has fallen to a seven year low and that wages are going up.\u00a0 So everything must be getting better for the middle class, right?\u00a0 After all, isn\u2019t that what the official numbers are telling us?<\/p>\n

The financial markets are buzzing over this news because the unemployment rate has fallen into a range that the Federal Reserve has typically considered to be \u201cfull employment\u201d, so there is an expectation that the Fed may raise interest rates shortly.\u00a0 The following comes from\u00a0Business Insider<\/a>\u2026<\/p>\n

The unemployment rate fell to 5.1% in August, the lowest since April 2008. This was lower than forecast, and put the measure in the middle of the 5.2% \u2013 5.0% range the Federal Reserve considers to be \u201cfull employment.\u201d The economy added 173,000 jobs, below the expectation for 217,000, although August payrolls are usually revised higher. We also saw some wage growth, with average hourly earnings rising 0.3% month-on-month, and 2.5% year-over-year. The payrolls gain for July was revised up to 245,000 from 215,000.<\/p><\/blockquote>\n

But do we actually have anything close to \u201cfull employment\u201d in this country?<\/p>\n

Of course not.<\/p>\n

The truth is that the only way they have been able to get the official \u201cunemployment rate\u201d to steadily go down over the past few years is to eliminate hundreds of thousands of Americans that are chronically unemployed from the official labor force numbers every month.\u00a0 Jim Quinn elaborated on this very eloquently\u00a0in one of his recent articles<\/a>\u2026<\/p>\n

 <\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

If You Want To Know The Truth About The Unemployment Rate Read This Article The Obama administration is telling us that the unemployment rate in the United States has fallen to 5.1 percent, but does that number actually bear any resemblance to reality?\u00a0 On Friday, news outlets all over America celebrated the fact that the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[236,8675,4901,584,8790,6591,7034,8791,824,827,1808,8374],"class_list":["post-11975","post","type-post","status-publish","format-standard","hentry","category-economics","tag-economic-collapse","tag-end-of-the-american-dream","tag-michael-snyder","tag-obama","tag-real-unemployment-rate","tag-september-2015","tag-the-economy","tag-the-u-s-economy","tag-unemployment","tag-united-states","tag-wages","tag-what-is-going-to-happen-in-september-2015"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/11975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11975"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/11975\/revisions"}],"predecessor-version":[{"id":11976,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/11975\/revisions\/11976"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}