I got side-tracked.
The Dpt of Labor changed the way they calculate unemployment in January and again in February;
http://www.bls.gov/cps/
There will be another change in August. So this administration is using the time honored socialist tradition of moving the goalposts.
Real unemployment is past 10%, at least. Micheal Savage claims 16% but I was unable to verify that claim and it seems sort of high to my seat of the pants guide.
Of course most of the people I associate with are either self-employed or retired. Most of the ones I know that still work for a paycheck are finishing off their last few years at a government post before retiring.
When the White hose hands over the numbers, they are just counting payroll employees. PSC, Sub contractors (1099′s) and self employeed types, etc. are not counted. IIRC, they don’t count the hard core, out of work for the last 5 years sort either. I think that is how Savage got to 16%.
The two ‘adjustments’ were for around .1% each. Figuring another 30 or 40 basis points for the seasonal adjustments and you can add .4 to .6 to the official rate to get a better number. Anyway, after the August ‘adjustment, the normal seasonal adjustments will drop, since the season is over. So by September we will see a more accurate un-employment number. It will be ugly. The market will take another dive, and things will get testy for D.C. Bob. Wait till some of the MSM types that look around the news rooom and notice that half or more of those once busy desks are empty start to wonder how long their desk will be occupied. Then they will be asking D.C. Bob if the Usurper intended to destroy the American economy or if he is just stooooooopid?
Helen the Hag was just the first drop, the hose will soon be wide open.
