When I heard Friday morning that the unemployment rate dropped to 8.6%, I said, yeah, right.
There were 120,000 new jobs added in November. 50,000 of those new jobs were in the retail sector. How many of those new jobs added will still be around in January?
The real reason that the unemployment rate dropped in November is because 315,000 unemployed workers stopped looking for employment. There are now over 929,000 unemployed workers that have stopped looking for employment because the job market and our economy is so bad. If you add those unemployed workers to the 13.3 million unemployed workers reported by the Obama Administration, that puts the REAL unemployment rate at 14.6%!
Following is a short video that explains the new method of calculating the unemployment rate by the Obama Administration.
Here is the link to the article by Repair Man Jack with his thoughts about the new unemployment rate. Warning. If you watch the video with Adam Corolla, beware, the language is quite colorful.
http://www.redstate.com/repair_man_jack/2011/12/02/what-do-you-do-with-300k-discouraged-workers/
