Sunday, March 15, 2015

Unemployment rates never included those who dropped out of the workforce in our history

I always hear the same argument from republicans when the great job numbers come out every month.  I hear from republicans at CNBC, Barron's, Forbes, Fortune, The Wall Street Journal and the NY Post that the unemployment number doesn't include those who dropped out of the job market.  But you can always say the unemployment rate isn't accurate because it doesn't include those who dropped out of the work force.  You can say that about Ron Reagan unemployment rates.   Maybe people were dropping out of the workforce and that's why the unemployment rate was low under Reagan.  You can say that about Bush Sr and even Bush Jr.  But under Bush Jr, we were losing 500K jobs a month that gaining that number of jobs every month.  Maybe the number of people who were dropping out of the work force under Bush Jr was actually higher than the 500K number because that didn't include those who dropped out of the workforce.  Also many of the companies that have positions open, are saying there's no qualified people applying for those jobs.  Come on show a little objectivity.

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