Friday, October 02, 2009

Unemployment Number Gets Even Worse

The news is grim: Another 263,000 non-farm workers without jobs, and nation's official unemployment rate at 9.8 percent, the worst since June 1983.

Unless, of course, you view the "real" unemployment rate that includes the long-term laid off workers who have taken bits and pieces of part time work or have given up looking.

That's 17 percent.

That's 1930s, Depression-era, FDR meddling type unemployment.

Just so that we're clear on this.

By the way, they began excluding this category of worker back in 1994 to make the numbers look better. It worked for the Clinton administration, so the Bush team followed suit, and most assuredly the Obama numbers-massagers are probably wondering who else can be tossed out.

It's obvious they haven't a clue as to what creates jobs or encourages productivity in a free society.

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