(ThyBlackMan.com) As Joe Biden, Kamala Harris, and their political team ready themselves, to enter the 2024 presidential race, potentially against a known liar, they promote a vile policy of undercounting professional, blue-collar, and working-class Americans’ Job rates, as President Joe Biden stated, in his State of the Union address (SOTU), the nation’s unemployment rate is, 3.4%, for January. It is, as if he gives no thought, to HIS policy, when it comes to our Job rates. What he, and Democrats are promoting, is misleading. President Joe Biden, and Democrats are behaving arrogantly, if they believe 29 years of undercounting professional, blue-collar, and working-class Americans’ Job rates, and lying about it, does not matter, to American voters. The TRUTH matters.
Democrats are saying, and I do mean all Democrats, of any sway, including former President Barack Obama, and the “currently elected members,” of the Congressional Black Caucus; to them, undercounting the Job rates of American workers of every profession, and class, amounts to “a great political strategy,” to win in 2024. They also, say, they support President Joe Biden’s ambition to sustain this LIE, about our Job rates, as a model policy, for the foreseeable future, undermining the lives of professional, blue-collar, and working-class Americans, everywhere.
The Biden White House, does this, as we face the probability of our 3rd Recession, in 15 years, with millions of economic immigrants crossing our North, and South borders seeking Jobs, in the United States. Our need to know, the REAL Job rate, in these challenging, and uncertain times, should not be unexpected, by anyone, with a bit of thoughtfulness and perception.
If you are a professional, blue-collar, or working-class American, you should start paying attention. Is that being too forceful, my saying that, or maybe it is not forceful enough, depending on your situation, and your Job? If you are in a union, I got news for you, you are not protected, or insulated from being laid-off, as the economy declines.
As high interest rates work their way through the economy, due to the Federal Reserve hiking rates to quell inflation, layoffs will inevitably happen. There is no getting around that, and there is no disagreement, about that conclusion, simply because the objective of the Federal Reserve is to reduce inflation, through reducing consumer spending. That translates into layoffs (less professional, blue-collar, and working-class Americans working, means less spending). Many of you are now thinking, how does the Biden administration undercounting, my Job rates hurt, or affect me, and my family directly, or what does that look like, in a way, I can appreciate, and understand it?
Biden gives the impression, in his SOTU speech, his 3.4% unemployment rate (U-3), from the Table of Alternative Measurements of Labor Rates for January, is comprehensive of our unemployment situation. It is not. Here is how President Joe Biden, and Democrats, hurt you, professional, blue-collar, and working-class Americans. Take the real unemployment rate of 6.6% (U-6), and mathematically determine what percent the 3.4% is, of the real rate. Biden’s rate is 51% of the real rate of 6.6%. So, that leaves 49%. He is, only counting 51% of all professional, blue-collar, and working-class Americans, intentionally leaving 49% out of his count, or on the cutting room floor, as if we do not exist. Who are the American workers, he is intentionally leaving out and, not counting, that are included, in the real unemployment rate count, of 6.6%? Let us take a look and get a clearer picture.
Biden does not include, in his count those that want a Job, and are available for work, who have looked for a Job sometime in the past 12 months, but are not currently looking for work, feeling their search would be in vain. These are considered discouraged workers, who have a Job-market related reason, for not looking for work, presently. Among such reasons, are the belief, no work is available, the belief, that one lacks the requisite skills, or education, and the belief, that one would face discrimination at some point, in the Job search. The inclusion of discouraged workers, in the U-6 category rate of 6.6%, of the real Job rate for January, points to the very definition of unemployment. Unemployment rates should include a means, to measure labor market discouragement, as that is a part of the nature of a declining economy. People get discouraged. As our unemployment rates rise, and the economy worsens, as what will happen, as the Federal Reserve hikes rates, inclusion of discouraged workers in the Job count, is a way to measure, discouragement.
Additionally, Biden does not include “all,” persons, who want, and are available for work, and have recently searched for a Job, regardless of their reason for not currently looking. These could be either professional, blue collar, or working-class Americans, who are not currently looking for work for reasons, such as child-care, or transportation problems. Rather than resolve the problems, President Joe Biden, and Democrats choose, to not count these professional, blue-collar, or working-class Americans, in their unemployment numbers. Resolving these problems, rather than not counting them, would help them, as the Economic Downturn nears, in real time.
He also, does not include in his count, persons employed part-time, who want, and are available for full-time work, but have been forced to settle for part-time Jobs, because the economy is not providing enough full-time Jobs, paying the same, or comparable wages. Biden, and Democrats see these part-time professional, blue-collar, or working-class Americans, as being fully employed, even though, it is the worsening, or deteriorating economy, that is forcing them into this part-time Job schedule situation, to begin with.
The lie about our Job rates, started back in 1994, with former President Clinton’s administration. The U-3 category rate of unemployment was never meant to be viewed, as being comprehensive of our nation’s unemployment situation. Economists, at the time the changes to the unemployment rates were done in 1994, agreed the most comprehensive of the category of unemployment rates is, the U-6 rate, which was 6.6%, for January.
Yet, somehow U-3, the lower of the two category rates, became our official unemployment rate, with no one in the Clinton administration including, the Secretary of Labor, at the time, Robert Reich, or anyone, in the Bureau of Labor Statistics taking credit, for making U-3, the official rate. Biden can re-align his administration from Clinton’s, and align it with economists, and declare U-6, at 6.6%, as the most comprehensive and official Job rate. No added authority is needed, by Biden to carry this out, just as the Clinton administration did not need added authority, to start the scheme of undercounting our Job rates.
When you look at the economy, from the viewpoint, of potential labor resources, or put in plain words, “individuals who want to work, and are available to work,” the U-6 category rate of unemployment, 6.6% is the most comprehensive, and gives a better picture of “what is going on,” in our labor markets, as we head into a serious Economic Downturn. It counts the visibly unemployed, the under-employed, and those who are looking for, and are available to work but are discouraged, for various reasons. Presenting a lower Job rate, as being comprehensive, 3.4%, as Biden is doing, is at best, misleading, and for him politically expedient, as “a great political strategy.” However, at worse, it looks like he is telling, a LIE, about the REAL, and TRUE nature, of our Unemployment Situation.
Our next Unemployment Situation Report will be announced on Friday, March 10th, at 8:30 am.
A note: Readers, my account, @Jamesabides1, was permanently suspended, on Twitter December 1, 2022, at about 1:00 pm, for expressing and advancing the same factual information, found in this article. Go to @Jamesabides1, see if you can understand, why the TRUTH, has been suspended, in the market square of ideas, and concepts, on Twitter. Suppressing free responsible speech is unacceptable, in our Democracy, no matter who does it. The TRUTH matters. The January 6th Committee affirms it.
Staff Writer; James Davis
Mr. Davis is a leading expert, in Financial Analysis, and Social Dynamics. His column is about relating facts, and truth without color, but with style. Relating the facts, and the truth, hopefully, in an understanding manner, is his goal. He is a graduate of Florida A. and M. University (FAMU), and a human rights activist. He was awarded the Governor Burns Scholarship to attend FAMU, and while at FAMU was awarded the first Martin Luther King Scholarship. James Davis is the author of three books, among them is “The Fix This Time,” Boost Your Retirement Income! Simultaneously Create Jobs and Spur Economic Growth (https://www.amazon.com/dp/B00MI3PD2M). ENJOY this book.
Mr. Davis can be reached through his blog @ https://thefixthistime.com.
