Nearly At ‘Full Employment’? 10 Reasons Why The Unemployment Numbers Are A Massive Lie

"On Friday, we learned that the official “unemployment rate” has fallen to 5.5 percent. Since an unemployment rate of 5 percent is considered to be “full employment” by many economists, many in the mainstream media took this as a sign that the U.S. economy has almost fully “recovered” since the last recession.  In fact, according to the Wall Street Journal, some Federal Reserve officials believe that “the U.S. economy is already at full employment“.  But how can this possibly be?  It certainly does not square with reality.  Personally, I know people that have been struggling with unemployment for years and that still cannot find a decent job.  And I get emails from readers all the time that are heartbroken because they are suffering through extended periods of unemployment.  So what in the world is going on?  How can the government be telling us that we are nearly at “full employment” when so many people can’t find work?  Could it be possible that the government numbers are misleading?

It is my contention that the official “unemployment rate” has become so politicized and so manipulated that it is essentially meaningless at this point.  The following are 10 reasons why…

#1 Since February 2008, the size of the U.S. population has grown by 16.8 million people, but the number of full-time jobs has actually decreased by 140,000.

#2 The percentage of working age Americans that have a job right now is still about the same as it was during the depths of the last recession.  Posted below is a chart that shows how the employment-population ratio has changed since the beginning of the decade.  Does this look like a full-blown “employment recovery” to you?…

#3 The primary reason for the decline in the official “unemployment rate” is the fact that the government now considers millions upon millions of long-term unemployed workers to “no longer be in the labor force”.  Just check out the following numbers…

The number of Americans participating in the labor force has been on a decline for the past few years. Nearly 33 percent of the Americans above age 16 are not part of the workforce, the highest number since 1978. The Bureau of Labor Statistics (BLS) report issued recently has found 92,898,000 Americans above age 16 not a part of the labor force of the country as on February 2015.

When President Obama took over the office in January 2009, nearly 80,529,000 Americans were not a part of the labor force. The number has increase by nearly 12 million over the last few years.

#4 Over the past couple of years, the labor force participation rate in this country has been hovering near mutli-decade lows…

The labor force participation rate hovered between 62.9 percent and 62.7 percent in the eleven months from April 2014 through February, and has been 62.9 percent or lower in 13 of the 17 months since October 2013.

Prior to that, the last time the rate was below 63 percent was 37 years ago, in March 1978 when it was 62.8 percent, the same rate it was in February.

#5 When you add the number of “officially unemployed” Americans (8.7 million) to the number of Americans “not in the labor force” (92.9 million), you get a grand total of101.6 million working age Americans that do not have a job right now.  Does that sound like “full employment” to you?

#6 The quality of our jobs continues to decline.  Right now, only 44 percent of U.S. adults are employed for 30 or more hours each week.

#7 Millions upon millions of Americans have been forced to take part-time jobs because that is all they can find, and wages for American workers are at depressingly low levels.  The following numbers come directly from the Social Security Administration…

-39 percent of American workers make less than $20,000 a year.

-52 percent of American workers make less than $30,000 a year.

-63 percent of American workers make less than $40,000 a year.

-72 percent of American workers make less than $50,000 a year.

#8 The average duration of unemployment for an unemployed worker is still about twice as long as it was just prior to the last recession.

#9 Most Americans feel as though the Obama administration has done little to nothing to help the middle class.  Just consider the following poll numbers…

According to a new poll by the Pew Research Center, Americans see government policies under the Obama administration as having mostly benefited wealthy people, large corporations and financial institutions.

Seventy-two percent of respondents said government policies have done little or nothing to help the middle class, and 65 percent said they have done nothing to help the poor. Sixty-eight percent said the policies have done nothing to help small businesses.

Meanwhile, 45 percent said the policies have done a “great deal” to help large banks and financial institutions, 38 percent say they have helped large corporations, and 36 percent say they have helped the wealthy.

#10 If the unemployment rate was calculated honestly, we would all be talking about the horrific “unemployment crisis” that we were currently enduring.  According to John Williams of shadowstats.com, the real unemployment rate in the United States right now is above 23 percent.

Our politicians and the mainstream media are attempting to convince us that everything is just fine..."

at http://theeconomiccollapseblog.com/archives/nearly-full-employment-10-reasons-unemployment-numbers-massive-lie