Unemployment Rate Drops to 8.6 % Nationally But Number of Unemployed Increases ?


Unemployment rate drops to 8.6 percent nationally, lowest since March 2009 | NJ.com.

If it sounds like absurd to you, it is: There were around 403,000 new jobless applications last week alone and the number of new jobs created is 120,000 in a month. If we add the new unemployment claims for the last four weeks we have a grand total of 1.2 million. That means that, in November, for every new job created, we lost 10.

Thus, it is a mathematical impossibility that the percentage of the unemployed with respect to the total work force declined.

What we have done to achieve this act of statistical magic is to indirectly increase the work force by miscounting the jobless. We removed those that are not looking for work any longer and those who drop from the unemployment lists, et voila! UNEMPLOYMENT IS DOWN BY 0.4% IN ONE MONTH!

Now, I realize that I must tone down this blog because after the new detention provisions passed by the U.S. Senate yesterday, I could be carted away to some obscure military prison for the rest of my life without charges or trial.

That is if the president does not veto the detention provision. My bet is that he won’t and I would be happy if I am wrong.

Most people can not even fathom how much this country changed in one night.

Advertisements