Sunday, January 9, 2011

After Manipulating the Unemployment Figures 9.4 Percent is Still High

The current unemployment figures is manipulated and does not reflect the true unemployment figures in America. In fact, underemployment went to 19%. This is something no media outlet is willing to report. With the holiday season done, let's see what the unemployment figure will look like nexst month. The point is that unemployment will remain above 9 percent for the rest of Obama's term in office. This is unacceptable to the American people!

(MailOnline) President Obama insisted America was 'digging itself out of hole' today as new figures offered a glimmer of hope for the country's beleaguered economy.

103,000 new jobs were created last month and the unemployment rate dropped to 9.4 percent, its lowest level in 19 months, the Labor Department said.

But the job growth fell short of expectations and the drop in unemployment was mainly because people stopped looking for work.

But other factors can affect the unemployment rate, at least temporarily. One key reason for the drop was that the government no longer counts people as unemployed when they stop looking for work.

Fewer people said they were out of work last month. The number of unemployed fell by more than 500,000 to just under 14.5 million, the lowest since April 2009.

Still, the unemployment rate has topped 9 percent for 20 months, the longest such streak on record. And even with last year's job gains, the unemployment rate fell only from 9.7 percent to 9.4 percent.

Federal Reserve Chairman Ben Bernanke offered a more optimistic outlook for the economy while testifying before the Senate Banking Committee on Friday.

Still, Bernanke said it could take four to five years for unemployment to drop to a historically normal rate of around 6 percent.

Through all of 2010, the nation added 1.1 million jobs, or an average of 94,000 jobs a month.