Posted by Curt on 7 February, 2015 at 12:35 pm. 36 comments already!


Michael Hausam:

Gallup CEO Jim Clifton started a firestorm this week with his article titled “The Big Lie: 5.6% Unemployment.” Clifton appeared on Fox News to discuss the topic:

“Here’s something that many Americans — including some of the smartest and most educated among us — don’t know: The official unemployment rate, as reported by the U.S. Department of Labor, is extremely misleading.

Right now, we’re hearing much celebrating from the media, the White House and Wall Street about how unemployment is “down” to 5.6%. The cheerleading for this number is deafening. The media loves a comeback story, the White House wants to score political points and Wall Street would like you to stay in the market.”

He gave 4 reasons in defense of his assertion:

  1. If someone has not looked for a job in the last 4 weeks, they are not included.
  2. If someone has worked at least one hour and are paid at least $20 for it, they are not included.
  3. If someone works a part-time job, regardless if it is dramatic under-employment with regards to education or past-work history, they are not included.
  4. Only 44% of adults are actually working, which Gallup defines as thirty or more hours a week.

He concluded:

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