November unemployment smoke and mirrors. A Limerick

unemploymentnov

So if you are one of the millions of workers, ready, willing and able to work but not being able to find any for years, you may feel like this:

If unemployed year after year,

discouraged, a case less severe.

Do not go ballistic,

you are a statistic.

A loser, a discard, you hear?

This is one of the reasons why Donald Trump won!

It seems at first glance to be only good news on the labor front with the unemployment rate the lowest in nine years. But on second look it is all massaged data.  The employable population grew by 219,000 people, the labor force shrunk by 226,000 people, the number employed grew by 160,000, much less than the population increase, and yet  the unemployment rate dropped by 0.3%. Why? 445,000 people left or failed to enter the labor force. In addition the average pay declined by 3 cents/hour.

The Trump presidency can’t come soon enough!

Published by

lenbilen

Engineer, graduated from Chalmers Technical University a long time ago with a degree in Technical Physics. Career in Aerospace, Analytical Chemistry, and chip manufacturing. Presently adjunct faculty at PSU, teaching one course in Computer Engineering, the Capstone Course.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s