"The Real Unemployment Rate Is At Least 18%"

by JASmius

About this "Obama economic recovery" that's been shimmering just out of reach for the past five years....



That's also the loudest manure chant Peter Morici has ever heard - or chanted himself:

The Labor Department on Friday is expected to report the economy added 235,000 jobs in July, and the unemployment rate remained steady at 6.1%, but that hardly tells the story.

No; but this does....

The jobless rate may be down from its recession peak of 10%, but much of this results from adults, discouraged by the lack of decent job openings, have quit altogether. They are neither employed nor looking for work.

For the record, I am not employed, dropped off the unemployment rolls a month and a half ago and into Obamalimbo, but I'm still looking for work.  Call me a "disgruntled worker".  Or "disgusted".  Either fits.

Only about half of the drop in the adult participation rate may be attributed to the Baby Boom generation reaching retirement age. Lacking adequate resources to retire, a larger percentage of adults over 65 are working than before the recession.

That percentage will be...well, I was going to say "100% before too much longer," but then I realized the absurdity of what I was about to say.  And that doesn't even take ObamaCare death panels into account.

Many Americans who would like full time jobs are stuck in part-time positions, because businesses can hire desirable part-time workers to supplement a core of permanent, full-time employees, but at lower wages. And Obamacare’s employer health insurance mandates will not apply to workers on the job less than 30 hours a week.

Sounds almost as if it's an intentionally designed system, doesn't it?

Here's an eye-opening tidbit:

The economy has created only about 6 million new jobs during the Bush-Obama years....

....all of them under Bush, of course....

....whereas the comparable figure during the Reagan-Clinton period was about 40 million. A recent study by the Center for Immigration Studies indicates that virtually all the new jobs created since 2000 went to immigrants, whereas none were created for native-born Americans.

Think that trend is going to be interrupted any time soon?

And now, to the punchline:

Adding in discouraged adults who say they would begin looking for work if conditions were better, those working part-time but say they want full time work, and the effects of immigration, the unemployment rate becomes about 15%—and that is a lower bound estimate.

Many young people are being duped both by unscrupulous for profit, post-secondary institutions — as well as accredited colleges and universities with low admission standards—to enroll in useless programs. They would likely be in the labor force now but for easy access to federally sponsored loans and will end up heavily in debt.

Adding in these students, the real unemployment rate among U.S. citizens and permanent residents is at least 18%.

A fact which, if there is a 2016 election, if it is allowed to be even semi-legitimate, and if there are enough American voters left to elect Scott Walker as the 45th POTUS along with a Tea Party-ish House and Senate to begin sifting through the wreckage of the Obama cataclysm, will be on the front page of every newspadd and the lead story of every network evening propagandacast every day, indefinitely, and will only have begun at noon EST on January 20th, 2017.

Welcome to the "Walker Depression," gentles.  If we're lucky.