The Shiny Object Test - Part 2

The latest shiny object that Obama was holding up for our view was a very one sided agreement with Iran over its development of a nuclear weapon program and world economic sanctions against Iran. You see the sanctions are working and the lopsidedness wasn't to our advantage but to Iran's. Thankfully the French had the common sense to see through the ruse and torpedo that shiny object and send it to Davy Jones's locker. So back to the subject at hand which I started with Part 1 of The Shiny Object Test.

While you need not worry about a test (yes, I saw some sweat break out there on a few foreheads) if you haven't read Part 1 the link is right below. Some of what follows here may not make too much sense without reading, or maybe even refreshing yourself with Part 1. Hopefully at the end of the series you will have a better understanding of the smoke and mirrors you are seeing from this administration about the miraculous Obama recovery. The one that goes on and one and on and...

Well, it really isn't there at all. Maybe out on the golf course?

Lets now examine what is known as the "real unemployment rate" and it isn't anywhere close to 7.3%. That rate rose from 13.6% in September to 13..8% in October. That rate is also derived from the statistics released by the Bureau of Labor statistics (BLS). Think of the real unemployment rate as being reality. Makes sense when you consider it takes into account the broad measure of employment, or unemployment depending on your view. It is the measure of the number of people 16 years old and above actually "looking" and in the hunt for a job currently.

People, at times, may see me reference the U6 unemployment rate. That is the "real" number to look at and not widely disseminated by either the BLS or the Lame Stream Media at this time. It includes seasonal adjustments, all the unemployed and adds in people who are "marginally attached" to the work force. It also adds in people who are employed part time because sufficient full time jobs aren't there to be had.

The snapshot taken by U6 is a much broader, clearer picture of who is ready, willing and able to work but cannot find gainful employment. So where does the Obama administration rank since he took office? Not too well.

The U-6 unemployment rate rose from 14.25% in January 2009 to a high of 17.1% in October, November and December 2009. The same rate applied in February, March, and April of 2010. The rate never fell below 14% until March 2013. That's when it hit when it hit 13.8% which is the same as last months rate. So where is this miraculous economic recovery that is one of Obama's shiny objects? When you look at the broader economic picture it isn't there.

An astute reader may now be wondering what a "marginally attached" worker looks like and how they are weighted. Here's how the BLS defines them:

"In October, 2.3 million persons were marginally attached to the labor force, little changed from 2.4 million a year earlier. (The data are not seasonally adjusted.) Therese individuals were not in the labor force, wanted and were available for work, and 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."

Sounds like they may be a bit discouraged at that point in their hunt. There were approximately 815,000 discouraged workers among the marginally attached last month, That remained constant from the same time the previous year. Discouraged workers believe that no jobs are available for them in the marketplace. Another 1.5 million who are marginally attached had not searched for work the 4 weeks prior due to reasons like attending school or familial obligations.

Hopefully the next time someone wants to talk the unemployment rate with you at a cocktail party and uses the LSM number you can appear a bit more informed and tell them the reality of the situation, other than by the use of smoke and mirrors and leaving out critical elements of the equation Obama's spiel about job creation is. It is as phony as he is.

I want to leave you laughing after having some brain cramps with information overload. So I offer up this video about the "Obamacar." You can get one the same time you apply for Obamacare if you care to participate in that fiasco. Or maybe you are being forced to. Some federal mandate huh?

Part 3 will cover even more indepth information they don't want you to know.

Vote It," "Like" It, "Tweet" It, "Pin " It, "Share It" With Your Followers. Time to let em read it and keep reading it.

As Always,

The Frog Prince