The real unemployment statistics

From the Department of Labor (unmassaged numbers): (follow menu item 1 to see the numbers)
In December 2008 there were 135,254,000 people employed.
In December 2011 there were 132,721,000 people employed.
That means there has been a loss of 2,533,000 jobs in the last 3 years.

That much is fact. Now for some mathemagic…. U.S. population has historically grown at a rate of 1.3%/year. If that has held true for the last 3 years, then the population has grown by roughly 11,800,000 people. If you assume that the increase in uniform for all age groups, then the population between 18 and 65 then the growth of the population segment that is (theoretically) looking for a job has grown by 7,700,000 in the last three years.

Therefore the true increase in unemployment is 10,000,000!
Welcome to the obama recovery.

This entry was posted on 6. January 2012 at 18:49 and is filed under economics, Politics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.