Friday, September 4, 2015


The latest employment situation from the Current Population Survey looks better than it has in a long time. Mainstream media report the unemployment rate (aka the competition for jobs rate) fell 5.1% from 5.3%. As the rate consists only of those who have looked for a job in the last four weeks, the measure fails to describe how many Americans are willing to work and could work.

If the Fed Res FOMC members decide based on data, then little reason exists for them to continue with their wrong-headed near zero interest rates policy. It's only been eight years of meddling by the Federal Reserve and by Congress to get the economy where it is now. Back when men debated whether or not to create the Federal Reserve, those in favor of creating the Federal Reserve claimed the Federal Reserve would shorten or even prevent altogether economic depressions. Their claims have yet to be backed by history as both the 1930s and the 2010s have proven them wrong.

Unfortunately, for these charts, key parts of the data needed for this calculation only go back to 2008. So it's hard to know if 6.2% is a good rate or a bad rate.

To learn the difference between my Jobless Rate and the BLS Unemployment Rate, read THE JOBLESS RATE, THE TRUE UNEMPLOYMENT RATE.

And the Strict Jobless Rate looks much better as well.

The number of Americans capable of work is falling.

And there are far fewer able-bodied in America sitting around doing nothing.

There are 3.7% fewer Americans being being supervised today than at the end of June, 2008.

Likely, there are millions of Americans who are not truly disabled, but merely legally disabled according to the generous rules decreed by Congress. Since the end of July, 2009, the number of supposed disabled has risen 17.5%. It seems so unlikely that before 2009, these Americans didn't know they were disabled.

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