The Truth About the Unemployment Rate in 2 Graphs

See also: Un-Spinning Jobs Numbers On the first Friday of every month, the Bureau of Labor Statistics (BLS) releases their important "Jobs Report" that details the previous month's employment statistics.  Among the menagerie of data points, the most important figure to the average American is the un-employment rate, and according to Friday's report of the August numbers, that rate fell from 8.3 to 8.1%.  Unfortunately, the 8.1% jobless rate is misleading and is a significant tail wind for the Obama campaign. When clarified, however, the un-employment rate is actually closer to 11.6%! To the un-assuming observer, the month over month decline in the un-employment rate may seem to indicate that the economy is improving and even that the President's economic policy might be the proximate cause.  To the more astute observer, the report showed the slowing of job creation to less than 100K; less than needed to compensate for population growth and less than the 2011 average of...(Read Full Post)