…When the December 2011 unemployment rate was released, I didn’t have the data to support my view that there was no way the unemployment rate was actually 8.6%. All a rational person has to do is pay attention to related economic information. The gross distortion in the more accurate rate vs the rate published by the media results in people thinking the economy is much better than it is. It is insane we continue to allow our governmental leadership to be staff by people who simply do not understand that private enterprise creates jobs and our current government prevents jobs creation by a continual increase in rules regulations and taxes.
The detailed report follows:
Unemployment Far Worse Than Official Rate
The method used by the Bureau of Labor Statistics to calculate the official unemployment rate understates the real unemployment problem by a significant margin.
The official rate stood at 5 percent in January 2008, shot to a high of 10.1 percent in October 2009, and came down to the current rate of 8.6 percent — still 3 points above the 1948-2007 average of 5.6 percent.
“Unfortunately, the reality is even worse than these numbers suggest,” according to American Enterprise Institute resident scholar Aparna Mathur and Matt Jensen, an economic researcher at AEI.
In an article on the RealClearMarkets website, they point out that the BLS defines the labor force as those who are employed or those who have actively looked for a job within the past four weeks. The rate calculation therefore excludes workers who have stopped seeking work, and employees who settle for part-time jobs because they cannot find full-time employment.
But the Bureau of Labor Statistics also publishes an alternative measure of unemployment, referred to as the “U-6 rate,” that includes those who have looked for work in the past 12 months and those who work part-time even though they would like full-time jobs.
“The U-6 rate offers a clear picture of how precarious a situation we are in,” the authors declare.
That rate has moved from 8.8 percent in December 2007 to 17.4 percent in October 2009 and 15.6 percent last November. So the gap between the official rate and the U-6 rate is a hefty 7 percentage points.
Also, more than 5.7 million Americans have been out of work for more than 27 weeks — 43 percent of all unemployed.
“The tremendous increase in long-term unemployment is one factor driving the unprecedented disparity between the official measure of unemployment and the alternative measure,” the authors write.
Expectations of higher tax rates and uncertainty over new regulations are encouraging businesses to hold off hiring full-time workers and instead offer part-time and temporary jobs, they say, adding: “The main challenge facing the Obama administration is to improve the employment situation. An easy way to start is by restoring faith in the economy and providing certainty about the future in the minds of consumers and businesses.”
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|Steve Pohlit is a CPA,MBA and has been the CFO of several major domestic and international companies. Today Steve is an expert international business and real estate investment coach focused on helping companies improve their business performance including growing profits, revenues and customers. For a FREE 6 week mini course where you will receive 10 easy to implement action steps guaranteed to increase business revenue and profits by at least 30% in the next 90 days, please visit www.StevePohlit.com All articles published by Steve unless specifically restricted may be freely published with this resource information.|
One Dollar’s Worth
The United States One Dollar Bill.
Take out a one dollar bill, and look at it.
The one dollar bill you’re looking at first came off the presses
in 1957 in its present design.
This so-called paper money is in fact a cotton and linen blend
with red and blue minute silk fibers running through it.
It is actually material.
We’ve all washed it without it falling apart. A special blend
of ink is used, the contents we will never know.
It is overprinted with symbols and then it is starched to make
it water resistant and pressed to give it that nice crisp look.
If you look on the front of the bill, you will see the United
States Treasury Seal.
On the top, you will see the scales for a balanced budget.
In the center you have a carpenter’s square, a tool used for an
even cut. Underneath is the Key to the United States Treasury.
That’s all pretty easy to figure out, but what is on the back of
that dollar bill is something we should all know.
If you turn the bill over, you will see two circles.
Both circles, together, comprise the Great Seal of the United
States. The First Continental Congress requested that Benjamin
Franklin and a group of men come up with a Seal. It took them
four years to accomplish this task and another two years to get
If you look at the left-hand circle, you will see a Pyramid.
Notice the face is lighted and the western side is dark.
This country was just beginning. We had not begun to explore
the West or decided what we could do for Western Civilization.
The Pyramid is un-capped, again signifying that we were not even
close to being finished. Inside the capstone, you have the all-
seeing eye, an ancient symbol for divinity. It was Franklin’s
belief that one man couldn’t do it alone, but a group of men,
with the help of God, could do anything. “In God We Trust” is on
this currency, but that phrase was added in the 1950s during the
Prior to that, none of our paper currency had that phrase.
The Latin above the pyramid, Annuit Coeptis, means, “God has
favored our undertaking.”
The Latin below the pyramid, Novus Ordo Seclorum, means, “a new
order has begun.”
At the base of the pyramid is the Roman Numeral for 1776.
If you look at the right-hand circle, and check it carefully,
you will learn that it is on every National Cemetery in the
It is also on the Parade of Flags Walkway at the Bushnell,
Florida National Cemetery and is the centerpiece of most heroes’
monuments. Slightly modified, it is the seal of the President
of the United States, and it is always visible whenever he
speaks, yet very few people know what the symbols mean.
The Bald Eagle was selected as a symbol for victory for two
First, he is not afraid of a storm; he is strong, and he is
smart enough to soar above it.
Second, he wears no material crown. We had just broken from the
King of England.
Also, notice the shield is unsupported. This country can now
stand on its own.
At the top of that shield you have a white bar signifying
congress, a unifying factor. We were coming together as one
In the Eagle’s beak you will read, “E Pluribus Unum”, meaning,
“one nation from many people.”
Above the Eagle, you have thirteen stars, representing the
thirteen original colonies and any clouds of misunderstanding
rolling away. Again, we were coming together as one.
Notice what the Eagle holds in his talons. He holds an olive
branch and arrows. This country wants peace, but we will never
be afraid to fight to preserve peace. The Eagle always wants to
face the olive branch, but in time of war, his gaze turns toward
They say that the number 13 is an unlucky number. This is
almost a worldwide belief. You will usually never see a room
numbered 13, or any hotels or motels with a 13th floor.
But think about this:
13 original colonies,
13 signers of the Declaration of Independence,
13 stripes on our flag,
13 steps on the Pyramid,
13 letters in the Latin above,
13 letters in “E Pluribus Unum”,
13 stars above the Eagle,
13 bars on that shield,
13 leaves on the olive branch,
and if you look closely, 13 arrows.
And, for minorities: the 13th Amendment.
I always ask people, “Why don’t you know this?”
Your children don’t know this, and their history teachers don’t
Too many veterans have given up too much to ever let the meaning
fade. Many veterans remember coming home to an America that
didn’t care. Too many veterans never came home at all.
Share this page with everyone, so they can learn what is on the
back of the UNITED STATES ONE DOLLAR BILL and what it stands
for. Otherwise, they will probably never know…
THE NEW ANT and the Grasshopper, Two Versions:
The ant works hard in the withering heat all summer long, building his house and laying up supplies for the winter.
The grasshopper thinks the ant is a fool and laughs and dances and plays the summer away.
Come winter, the ant is warm and well fed.
The grasshopper has no food or shelter, so he dies out in the cold.
MORAL OF THE OLD STORY:
You Are Responsible For Yourself!
The ant works hard in the withering heat and the rain all summer long, building his house and laying up supplies for the winter.
The grasshopper thinks the ant is a fool and laughs and dances and plays the summer away.
Come winter, the shivering grasshopper calls a press conference and demands to know why the ant should be allowed to be warm and well fed while he is cold and starving..
CBS, NBC, PBS, CNN, and ABC show up to provide pictures of the shivering grasshopper next to a video of the ant
in his comfortable home with a table filled with food.
America is stunned by the sharp contrast.
How can this be, that in a country of such wealth, this poor grasshopper is allowed to suffer so?
Kermit the Frog appears on Oprah with the grasshopper and everybody cries when they sing, ‘It’s Not EasyBeing Green…’
Occupy the Anthill stages a demonstration in front of the ant’s house where the news stations film the SEIU group singing, We shall overcome.
Then Rev. Jeremiah Wright has the group kneel down to pray for the grasshopper’s sake, while he damns the ants.
President Obama condems the ant and blames President Bush 43, President Bush 41, President Reagan, Christopher Columbus, and the Pope for the grasshopper’s plight..
Nancy Pelosi and Harry Reid exclaim in an interview with Larry King that the ant has gotten rich off the back of the grasshopper, and both call for an immediate tax hike on the ant to make him pay his fair share.
Finally, the EEOC drafts the Economic Equity & Anti-Grasshopper Act retroactive to the beginning of the summer.
The ant is fined for failing to hire a proportionate number of green bugs and, having nothing left to pay his retroactive taxes, his home is confiscated by the Government Green Czar and given to the grasshopper.
The story ends as we see the grasshopper and his free-loading friends finishing up the last bits of the ant’s food while the government house he is in, which, as you recall, just happens to be the ant’s old house, crumbles around them because the grasshopper doesn’t maintain it.
The ant has disappeared in the snow, never to be seen again.
The grasshopper is found dead in a drug related incident, and the house, now abandoned, is taken over by a gang of spiders who terrorize the ramshackle, once prosperous and peaceful, neighborhood.
The entire Nation collapses bringing the rest of the free world with it.
MORAL OF THE STORY:
Be careful how you vote in 2012.
I’ve sent this to you because I believe that you are an ant not a grasshopper!
Make sure that you pass this on to other ants.
Don’t bother sending it on to any grasshoppers because they wouldn’t understand it, anyway