Monday, August 9, 2010

Christina Romer, chair of Obama's Council of Economic Advisers, will resign


THIS IS THE GENUIS OBAMA RELIED ON TO DESTROY THE US ECONOMY ON PURPOSE

U.S. Bureau of Labor Statistics : Unemployment is 16.3% not 9.6%

The US Bureau Of Labor Statistics introduces new range of alternative unemployment measures

The US government just published the Unemployment Rate, it’s 16.5% as per the U-6 measurement system. Why the U-3 is cited in the Media rather than the U-6 is nothing less than mind boggling.

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 (official unemployment rate)

U-4 Total unemployed plus discouraged workers, as 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

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.

NOTE: Marginally attached workers are persons who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the recent past. Discouraged workers, a subset of the marginally attached, have given a job-market related reason for not looking currently for a job. Persons employed part time for economic reasons are those who want and are available for full-time work but have had to settle for a part-time schedule. For more information, see “BLS introduces new range of alternative unemployment measures,” in the October 1995 issue of the Monthly Labor Review. Updated population controls are introduced annually with the release of January data.

The U-6 is actually the closest to the unemployment rate that was accounted for during the great depression.

So why are they quoting the U-3 rather than U-6 ?

Someone answer that for me?

How the government measures unemployment U1 Through U6

BLS introduces new range of alternative unemployment measures

(Obama did not create the unemployment crisis because of ineptness, or lack of ability. The unemployment rate is much worse than what the state run media is reporting. The true unemployment rate should be sited as the U6 measure of unemployment.) Story Reports

Christina Romer, chair of Obama's Council of Economic Advisers, will resign.

Christina Romer, chair of the White House Council of Economic Advisers, has resigned her post to return to her old job as an economics professor at the University of California at Berkeley, the White House said Thursday.

Romer was instrumental in crafting the $862 billion economic stimulus package that Obama signed shortly after being sworn into office. She co-wrote a paper that predicted the stimulus would prevent unemployment rates from rising above 8 percent.

"The opportunity to help shape economic policy these past 20 months, and to work with the other members of the economic team and my colleagues on the CEA, is one I will always cherish," she said.

The jobless rate has hovered near 10 percent and Romer's most recent forecast predicts that it will not drop below 8 percent until the end of 2012.

Romer also said that without the stimulus bill unemployment would rise above 9 percent.

(Obama used romers's stimulus plan and made unemployment worse. Instead of less that 8 percent unemployment there is currently 9.6% U3 unemployment or actually 16.3% using the U6 alternative measure, a more accurate measure of unemployment.

Obama did not create the unemployment crisis because of ineptness, or lack of ability. Obama has made the recession worse on purpose but promised the massive stimulus spending would keep the unemployment rate much lower. In fact the stimulus money has made the
unemployment rate much higher and was a total waste of taxpayer money.

Day after day obama lies about the true unemployment rate. Obama's plan was and is the destruction of the US economy through massive spending. In Nov 2010 Obama will be impeaded in his efforts to destroy America.) Story Reports

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