Fuzzy Math?: CNBC Describes New Unemployment Numbers as 'Contradictory'
Here is an excerpt from the link below:
"Adding to the mystery is the fact that
the U-6, the longtime underemployment and unemployment number, remained
fixed at a dismal 14.7%.
"What this .03% drop means (per Ed Morrissey)
is that the number of unemployed people dropped by 456,000 when only
114k jobs were created--well below the monthly average, and below
population growth. Where did 342k people go to lower the number so
dramatically just 31 days before a presidential election? Did they
retire, leave the planet, die of old age in the unemployment office?
"Moreover, just 30 days before the election, 342K people dropped off the unemployment rolls and lowered the unemployment rate to below 8%---a benchmark number vitally important to Presdient Obama who promised his stimulus would ensure we wouldn't hit 8%."
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