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Originally Posted by Cannon Shell
At the beginning of January there were 134,300,000 people employed in the US
At the beginning of May there were 132,400,000 people employed in the US
How is this good?
And how exactly do they measure the amount of "discouraged" workers?
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It's not good! No one is saying that. Although if you seasonally adjust the data it isn't as bad as it looks. No one doubts we are in a recession, the question is when we are getting out of it. And the unemployment rate is the worst gauge of it cause of how it is calculated. And is exactly why I think you are making up that Obama ever said it wouldn't get over 8%.
As crazy as it sounds the national unemployment rate is 100% based on the monthly Current Population Survey where people answer questions and are designated as employed, unemployed, or not in the labor force. Further questions distinguish between your reason for not being in the labor force which includes the discouraged worker category.