Unemployment Numbers, March 2012 Edition
|April 14, 2012||Posted by Adam T under Debunking, Political News, Political News - U.S.|
The Bureau of Labor Statistics continually measures a standard unemployment rate that has been dropping recently. Currently, the Unemployment Rate is 8.2%, down from 8.3% over the previous two months and down from 8.9% just a year ago. But as detractors of the current administration continually point out, this doesn’t include workers who have either left the work force or are underemployed. It turns out the BLS measures those statistics too.
In the above data, the standard unemployment rate is the U-3 metric. But the U-4 through U-6 metrics include the workers that detractors often say are ignored. Some of them even say that because the numbers don’t include them, that all of the numbers are all because people just stopped looking, therefore the “real unemployment rate” is much higher, and growing higher each time the U-3 metric goes down.
As the above graph shows, each metric is actually declining. This data flies directly in the face of those who would rather people believe that the government is “hiding” the real unemployment rate for two reasons: 1) the measurements here are easily available from the same organization that gives the standard unemployment rate and is accused of hiding it and 2) the unemployment rates are actually dropping across all of these metrics, showing that the amount of people not looking for work is lessening over time just as the number of people not employed is lessening over time.
This shows, for perhaps the 25th month in a row, that things are gradually getting better. There is reason for hope for the future, and companies recognize this and are hiring.