Saturday, May 6, 2017

New Unemployment Number


For John, BLUFTo be fair, do we think President Trump has turned the economy around?  Nothing to see here; just move along.




This is from The Tennessee Star, today.  Here is the lede plus one:
The economy gave out a medium-sized roar on Friday, when the federal government announced unemployment dropped to 4.4 percent.

The nation also added 211,000 jobs in April. The unemployment rate was 4.5 percent in March.

But, the best part is the comment by Law Professor Glenn Harlan Reynolds, who said:
EXPECT THE PRESS TO SUDDENLY DISCOVER THE U-6 “REAL” UNEMPLOYMENT RATE
U-6?  Yes, we normally get fed the U-3 Unemployment rate.  The U-6 is the seasonally adjusted Total Unemployment, including those marginally attached to the labor force, and is 8.6%.

Remember Senator Bernie Sanders?  The U-6 is the Unemployment Rate he campaigned on for the Democratic Party nomination last year.

Hat tip to the InstaPundit.

Regards  —  Cliff

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