Who knew re-writing the dictionaries and thesauri were part of Obama’s program of “Change.”
This week’s indicator that the recovery isn’t? Unemployment as measured by parties other than the Bureau of Labor Statistics.
By Matt Cover | CNSnews.com
Unemployment in the U.S. rose to nine percent in mid-February, up from 8.3 percent a month earlier, according to a new Gallup survey. The polling company said this suggests that it is “premature” to assume the economy will not feature prominently in the 2012 election season.Gallup figures typically provide an indication of what the government will report at the end of the month.
“The U.S. unemployment rate, as measured by Gallup without seasonal adjustment, is 9.0% in mid-February,” Gallup said in its mid-month unemployment survey, released on February 17. “The mid-month reading normally reflects what the U.S. government reports for the entire month, and is up from 8.3% in mid-January.”
Granted, employment is a lagging indicator of both recession and recovery. But… We’ve officially been in a “recovery” for more than three years at this point. Since records have been kept, employment in a “recovery” has never lagged by this much. When taken in light of the contraction of the labor pool and the reduction in Federal withholding collected, it seems clear that as recoveries go, this isn’t one.
It should also be noted that it’s not just Gallup finding indications that the economy is stumbling along like a zombie:
That makes for a higher Misery Index than James Earl “Dhimmy” Carter managed to produce.
Can we send this bozo home now, please?
Hat Tip: Ace of Spades