Re: 7.8% Unemployment? Obo Cooks the Books
When you look inside the numbers, here's what you find. The increase in jobs was due to the counting of part-time jobs, not actual gainful employment (IT guys flipping burgers). Also, they cut the employment force again. Right now, the effective work force is 63.7%, where it was under Carter in the late 70's. The U-6 figure, which is the more accurate indicator, is still at 14.7%.
This IS NOT a recovery.