The United States Department of Labor, Bureau of Labor Statistics: Revise What You Report
This Month’s National Unemployment Rate, “Employment Situation” – Economic News Release is Clearly Inaccurate.
On the first Friday of each month, especially since this Great Recession “officially” began in December of 2007, I shake my head in doubt whenever the United States Department of Labor – Bureau of Labor Statistics releases its latest unemployment news in their monthly national unemployment rate, “Employment Situation” – Economic News Release.
I will not mention what the latest unemployment percentage rate is because it will validate what gets “officially” reported to Americans.
Once-and-for-all, why is the Federal Government not releasing, in one simple and cohesive report, a summary that includes ALL the numbers with one, final percentage statistic of the true unemployment rate? Doing so, would paint a much more accurate picture of what the unemployment situation is really like.
What are “they” afraid of? Chaos in the streets or a government overthrow if “we” Americans find out that for over 6 years we are really in another Great Depression all this time, and are not really recovering from a Great Recession that we are told ended almost 5 years ago?
I think government “conspiracy theories” and anxieties, especially during economic hardships, would ease if the US Department of Labor – Bureau of Labor Statistics’ full monthly “Employment Situation” news release report was complete, transparent, and easy for everyday people to understand. We have the right to know if unemployment is really bad, very stagnant, or actually improving; and if so, by exactly how much.
Recently, I did some research to try to find one legitimate source for reporting the true unemployment number in our country. My findings, to the very best of my knowledge, this one report doesn’t exist. To say the least, I am not surprised.
I was also compellingly curious about what the economist’s definition of a “depression” versus a “recession” is, so I looked this up, too. This is also a very gray area. One commonality that I found from many different sources is that in the Great Depression of 1929 – 1933, the unemployment rate was 25 percent, most others were very fortunate if they even had part-time work, and our country’s output was reduced by 30 percent.
Aside from reporting the “presently collecting” unemployment numbers, here’s what the US Department of Labor – Bureau of Labor Statistics needs to include in their monthly“Employment Situation” Economic News Release:
1. The recent “drop-off ” monthly, quarterly, year-to-year numbers, along with the cumulative grand total “drop-off” rate since this Great Recession began.
2. Monthly numbers of how many Americans gave up looking, took a part-time job, took on temporary / contract work, opened a business, and / or forced into early retirement.
3. Monthly numbers of how many high school graduates, college graduates, and veterans can’t find gainful fulltime / part-time employment. Recently, a 2014 update to the “2013 Featured Report on Veteran’s” came out. This is a step in the right direction.
What is the true, grand total of unemployment in the United States right now at this exact moment in time? I would certainly like to know, what about you?
As Americans, we have the absolute right to know what the real unemployment number is. Last time I checked, we the people, employ the US Department of Labor, and all government employees, for that matter. Enough said.
Originally Published on Yahoo!
Very interesting article!