Much like the Economic Recovery. Via Ace, this article is a must read. There are several reasons why the economic recovery is bullshit. The media can tell us lots of stuff but here's some pull quotes that disproves it:
On Friday, it was announced that the unemployment rate had fallen to "7 percent", and the mainstream media responded with a mix of euphoria and jubilation. For example, one USA Today article declared that "with today's jobs report, one really can say that our long national post-financial crisis nightmare is over." But is that actually the truth? As you will see below, if you assume that the labor force participation rate in the U.S. is at the long-term average, the unemployment rate in the United States would actually be 11.5 percent instead of 7 percent.
There has been absolutely no employment recovery. The percentage of Americans that are actually working has stayed between 58 and 59 percent for 51 months in a row. But most Americans don't understand these things and they just take whatever the mainstream media tells them as the truth.I went over the employment/unemployment number here and how they can be messed with. But that's only the tip of the iceberg in this article:
#1 The only reason that the official unemployment rate has been declining over the past couple of years is that the federal government has been pretending that millions upon millions of unemployed Americans no longer want a job and have "left the labor force". As Zero Hedge recently demonstrated, if the labor force participation rate returned to the long-term average of 65.8 percent, the official unemployment rate in the United States would actually be 11.5 percent instead of 7 percent.
#2 The percentage of Americans that are actually working is much lower than it used to be. In November 2000, 64.3 percent of all working age Americans had a job. When Barack Obama first entered the White House, 60.6 percent of all working age Americans had a job. Today, only 58.6 percent of all working age Americans have a job. In fact, as you can see from the chart posted below, there has been absolutely no "employment recovery" since the depths of the last recession...
#7 In November 2007, there were 121.9 million full-time workers in the United States. Today, there are only 116.9 million full-time workers in the United States.
#17 Thanks to Obama administration policies which are systematically killing off small businesses in the United States, the percentage of self-employed Americans is at an all-time low today.There are 33 more reasons worth reading. Please check it out.