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Shhh! The U-6 is coming soon and no one will say a word

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Quick drop the balloons and fire the confetti streamers.

Yep the monthly jobs report was released last Friday and the magic number for January 2020 was……. 225,000

Hey that’s a pretty damn good number considering all those awesome experts and their prediction machines saying the numbers was going to be about 50,000 less.

So how can the so-called experts screw up?

Well that’s because the BLS (Bureau of Labor Statistics) told everyone that since the average monthly job growth in 2019 was 175,000 to expect the average. However those so-called experts decided to lower the expectation by so in turn when the numbers are announced at a much higher sum then everything is awesome and people celebrate by spending on things not necessarily needed, like a 2020 Pittsburgh Pirates season ticket package.

(Note: Until the Nutting family sales the team, keep expecting the team to be the joke of the MLB)

Job growth is job growth regardless which Party is at the helm, it’s those partisan commentators who tell their faithful how to accept those numbers. And yes if you compare the numbers on job growth in the first 3 years between POTUS Barry and Donnie, Barry wins by the average of 39,000/monthly.

Yeppers, but this isn’t a pissing contest between Barry and Donnie, because, again, jobs are jobs and people are putting bread on their tables every night.

That’s the important point that EVERY media source needs to tell. Yet they can’t and nor will either Party’s most entrenched followers believe because neither can pat the other side on the back for anything good.

I think it was comedian and former Daily Show host Jon Stewart who once said “if a Obama gave any Republican $20, the Republican would complain they had to but a wallet .”

Will the true moderates please step forward and tell your Party to kiss your ass and do the real dirty work to undivide DC?

 

I mean we can play some “fuckery” with jobs/employment numbers and mock/praise the average unemployment percentage for a POTUS all the way back to Eisenhower and then add the always partisan commentators “well the first two years are working off the past administrations work” verbage.

After all, Reagan had to wrestle with the dysmal 70’s outlook going into his first term and Barry had to manage through the Great Recession to begin his term.

Ok so Barry had a better jobs average in his first 3 years then Donnie, but what about my paycheck, how has either POTUS helped my back account?

Currently under Donnie the average hourly wage rose 3.1%! So if you were making $21/hour that’s a 6.5 cent hour payraise and again, I’m gonna call it a tie because Barry’s World hit 3.7% or 7.7 cents.

WINNING with either guy !!!!!

OK I’ll stop the sarcasm, because seeing people working is a great thing. Seeing people make a living wage is a great thing, now if we can get companies to stop raising their prices life may be a more affordable.

I know, companies gotta pay the wages so they gotta raise the price so people can spend their extra $5.2 in their paycheck.

Yeah when the media or your boss tells you that you’re getting a 3.1% payraise is does feel/sound good, until you actually do the math because the actual monetary figure doesn’t sound so promising.

Again, job and economy growth is good for all and I thought Democrats were bad all around for our growth?

Nope, this ain’t a pissing match between Parties or Administrations, it’s actually a complaint against your favorite partisan commentating cable bobble heads who use their over budgeted podiums to kill stories to advance their narrative.

For 8 years under POTUS Barry, we’ve heard Hannity and Limbaugh spit and shout about how the job and unemployment numbers were misrepresented and how we need to pay attention to the U6 numbers, while Maddow and her ilk shrugged their shoulders while barely trying to defend.

“We have not created ten-and-a-half million new jobs. We have the lowest labor-force participation rate since 1978. There’s all sorts of ways the government plays with statistics. For example, have you noticed late the unemployment rate has gone down, what is it, 5.9% or whatever it happens to be. You would think, ‘Oh, this is a good thing. My government is telling me the unemployment rate is down.’

“The government doesn’t count people that are chronically, long-term unemployed. So the number is smoke and mirrors. The number is a lie.” – Sean Hannity 11/04/14

One would think the tables would turn and the U6 would still be topic but nope, nada, zilch, no bueno. It ain’t happening and why?

Uh? Wait do you even remember what the U6 is? Well the U3 is the official unemployment rate and the U6 is, well here’s the official BLS definitions:

  • U-1, persons unemployed 15 weeks or longer, as a percent of the civilian labor force;
  • U-2, job losers and persons who completed temporary jobs, as a percent of the civilian labor force;
  • U-3, total unemployed, as a percent of the civilian labor force (this is the definition used for the official unemployment rate);
  • U-4, total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers;
  • U-5, total unemployed, plus discouraged workers, plus all other marginally attached workers, as a percent of the civilian labor force plus all marginally attached workers; and
  • U-6, total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers.

It is pretty amazing how the one indicator we were told watch is now suddenly obsolete, especially by those that boasted it’s use and by those that ignored it.

At last glance the U6 in October 2019 was rolling in at a strong 7% (U3 was 3.1% and sounds so much better), but we’ll have to wait till March 4, 2020 for an actual figure for 2019.

As a matter of fact, if you gather all the charts from the USDA, Bloomberg, Federal Reserve, BLS, Realtors Association and other indicators do you know what you’ll see? That’s right both Donnie and Barry are running a pretty damn close race with each other, but again what the hell do I know I’m just some average schmuck being drowned out by cultish big mouth partisan bobble heads that you purposely tune in too every night.

That’s it, slap the tap and pay the political tab because lord knows Congress is gonna find a way to make you pay the gas bill

 

CHEERS!

 

 

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