“The U.S. economy suddenly looks a lot weaker,” says The Washington Post as they comment on the saddening jobs report for May, which reports that only 69K jobs were created, the “fewest in a year.” As we as a nation continuously move forward with 158 days left till the national decision is made to either keep or toss Obama and his administration. Although there IS an economic recovery occurring, it’s undoubtedly a lethargic bounce-back. The hope to achieve jocundity within the entirity of our economy is extremely dismal because of the disheartening jobs report that’s been recently released, and in addition to that it’s very difficult to have any hope when one cannot rely on the sources and reports that are being presented to them, thus leaving our nation blind to the actual truth.
“The economy added only 69,000 jobs in May—only about half of what is needed to keep up with natural population growth,” (Peter Morici, Fox News, ‘Another Lousy Jobs Report — Is a Second Recession on its Way?‘) Peter is correct, we do need to be creating more than just 69,000 jobs to keep up with our natural population, but this isn’t the first month we’ve had this problem, we’ve been playing catch-up much longer than just this month of May; our cute little game of catch up has been betiding for nearly a year now. Multiple economists have come to the conclusion that it’d take approximately 260,000 jobs per month in order to keep up with the current population growth, and we’re categorically distant to reaching that number monthly.
Sadly, though, many people are blind to the fact that our nations unemployment numbers are drastically increasing. The United States citizens aren’t blind to this reality because their stupid, it’s simply due to the deceitful media primarily. ABC news’s reporter for Good Morning America, Josh Elliot, “insisted” that in May the Obama admin had left the unemployment rate sitting at 8.1% (although it rose to 8.2%, not necessarily an uncanny reporting flaw) and that the admin created 158,000 new jobs (very huge flaw. Only 69,000 jobs were created). Instead of sitting around and blaming the media for all of the false reports and misleading statistics lets look at other indicators as to why our citizens aren’t getting the truthful and accurate information that we do deserve; not one person is specifically manipulating the unemployment numbers, this data is candidly and inherently skewed.
This months job report has been released and has shown unemployment is rising and employment aspirations are drastically decreasing, but on the contrary in previous months unemployment rates seemed to be dropping and employment opportunities were looking semi-optimistic. Those months of hope and glee were all false because participation rates continuoulsy, and steeply, dropped. A participation rate is, according to CBS news, “the percentage of the working age population in the labor force and over the last 20 years,” and CBS news also says in that article, “[The participation rate] has held at 66 to 67 percent. In April, the rate was 63.6 from 63.8 percent in March, which meant that 169,000 fewer people were in the labor force. Some of that drop is attributable to demographics-aging boomers are calling it quits. But a good chunk can be chalked up to frustrated would-be workers giving up their job searches for a while and opting out of the labor force.” So how exactly does the participation rate inaccruately damage the unemployment statistics?
“To be counted as unemployed, you have to have been looking for a job within the last four weeks. As conditions improve, more people jump back into the labor force. They are joined by those whose long term unemployment benefits run out, which pushes up the participation rate and by extension, the unemployment rate.” -CBS News Article
So if one cannot even trust these extremely heart-tearing reports how can we even look forward, search for happiness and prosperity, believe in the possibility to be successful? These semi-inaccurate reports are very negative, but if they’re inaccurate how do we not know that the situation is actually worse?
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