The under noticed failing economy
According to the Bureau of Labor Statistics, only 62.6% of the civilian workforce is employed. But the unemployment rate is only 4.7%. Ever wonder how 37.4% of the workforce is unemployed, but the unemployment rate is at 4.7%? A record 94,708,000 Americans were not participating in the labor force in May, an increase of 664,000 over April. Yet the government says unemployment declined by .3 percentage points. Some 1.9 million people in May alone have been unemployed for 27 weeks or more. Now the reason for the discrepancies is found in how the government manipulates the figures to make you think things are better than they are.
BLS defines unemployment as people who “do not have a job, have actively looked for work in the prior 4 weeks, and are currently available for work.” BLS also says that some argue that this definition is too restrictive and BLS economists have posted an alternative in another section of the website. That definition is “Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force” The unemployment rate according to this calculation is more than double the official government estimate, at 9.7%. It still doesn’t account for 37% of the workforce not having a job.
CNSNews, reports some 14,179,000 Americans have left the workplace since the “president” took office. The only current sector of the economy that showed job growth was health care, which added 46,000 jobs, which is related to socialist health care considerations-in other words taxpayers are paying for this “increase” in jobs. But the “president” keeps spinning his yarn. He said in his recent weekly address: “America’s businesses have created 14.5 million new jobs over 75 straight months. We’ve seen the first sustained manufacturing growth since the nineties. We’ve cut unemployment by more than half. Another 20 million Americans have health insurance. And we’ve cut our deficits by nearly 75 percent.”
No matter how the politicians and the government want to spin the statistics, the fact remains that the US is under a tremendous weight of debt. Jobs are hard to come by. More people are on government assistance than ever before. And more people have given up on finding a job than ever before. This is a looming issue that seems to be overlooked by both politicians and media. Exodus 18:21 instructs on how to select leaders, “able men, such as fear God, men of truth, hating covetousness.” Truth and covetousness are the issues here. The truth is hard to find as it is skewed to justify the covetousness of taking your money and redistributing it to remain in power. Sinful leaders result in deficits of all sorts.
