(ThyBlackMan.com) All I can tell you is what this man is factually, and truthfully doing to us economically, as a race of people. If what we say here is not the truth – then Biden and his administration should say it is not so, and not do it through surrogates. It is well within his power to change what he is doing. He does not need to go to Congress, and he needs no additional legislative power. So, his doing this shows us who he really is, as a person. Mr. Biden is undercounting our Job rates, which will lead to undercounting coming layoffs. This is not in our best interest.
Here is how to visualize what he is doing to us. The real unemployment rate according to economists for June is 6.9% – the U-6 category rate, taken from the Table of Alternative Measures of Labor Underutilization. Biden’s political Job rate of 3.6% is 3.3% lower than the real rate of unemployment of 6.9%. The category, from which he pulled the 3.6% rate, U-3, was “never meant to be comprehensive of our Job situation,” because it measures a smaller worker group and as a result will always flash a low Job rate number.
Here is a question. What happens to that 3.3% of unemployed American workers he does not recognize, in his count? Do they magically disappear? No, they don’t magically disappear! You can’t lie away Jobless workers, by changing the official count number, because you don’t like it. If you low-ball, or undercount laid-off workers, with a job rate lower (Biden’s 3.6%), than the real rate (6.9%), Biden willfully counts only 52% of the unemployed and underemployed working-class Americans, professional and blue-collar across this nation, leaving 48% uncounted and to fend for themselves. Officially, uncounted Jobless workers will never be a part of any legislative actions, and discussions, when it comes to our unemployment situation. On paper, they literally don’t exist. So, why would our government have any interest in addressing a non-existent problem?
Personally, when you look at the policy of undercounting our Job rates, the biggest losers are American workers of all races, but what is concerning, is Black Americans have been hurt more heavily than any other race. Would you vote for someone who is kicking your legs from under you economically? That is what it amounts to, as he intentionally disregards 48% of Jobless American workers. All Biden has to do is acknowledge the TRUTH – the REAL unemployment rate. For June, that was 6.9%, and not Biden’s 3.6%.
Our plea to Biden and Democrats: please end this horrible policy. This article offers alternatives.
All of us should be asking, why is the Democratic Party supporting undercounting our Job rates, which leads to also undercounting our coming layoffs, as we face a third Recession in 15 years? As recently as July 20, 2023, in a speech in Philadelphia, President Joe Biden touted his unemployment record saying, “Unemployment is below 4%. The longest stretch of unemployment below 4% in the last 50 years.” What he said, if I can be gracious, wasn’t true. The real Job rate is 6.9% for June. It is the referenced month he is speaking of in that speech.
We should also be asking, why is the main street media supporting and acting as an agent of the Democratic Party, in the endeavor, of undercounting our Job rates. What are their aspirations and expectations for doing this. Why isn’t the media asking, “Why does the Biden-Harris administration have such an outrageously negative policy; one could say, a policy based on a lie, that Biden’s U-3 Unemployment rate of 3.6% is, comprehensive, of our Job Situation when it is not?
An example of media support of the Democratic narrative, when it comes to Biden’s 3.6% Job rate is this Philadelphia Tribune quote, on July 20th regarding Biden’s speech.
“Unemployment is a low 3.6%, and job openings are relatively high. The White House says that Biden’s policies have created these conditions.”
It is not true as the real and comprehensive unemployment rate at the time of this article is 6.9%. Yet, this mainstream newspaper, the Philadelphia Tribune sees nothing wrong, with promoting disinformation, on the behalf of and fomented by the Biden-Harris administration.
Historically, African Americans have voted overwhelmingly Democratic since the days of Franklin D. Roosevelt. Black voters saved Joe Biden’s last disastrous presidential run for office. Biden was losing the Democratic Party’s primary in 2020 and black voters changed that narrative, making him a winner. Now, this guy is kicking African Americans in the chin by undercounting our Job rates and the Job rates of all American workers, professional, union, blue collar, and working-class Americans, everywhere. Biden lies about our unemployment rates saying his official rate is comprehensive.
There is just no upside to this disastrous policy for African Americans, and American workers all over this nation, especially as our economy declines with increases in interest rates. Can anyone of you see how undercounting our Job rates improves our economic condition? There it is.
It is a flawed policy. What Biden is doing when it comes to rigging our unemployment rates is called central planning, which is characteristic of authoritarianism. This is not capitalism. We use real statistics. The Biden-Harris administration and Democrats are compromising an institution, the Department of Labor. You don’t tamper with our Job rates. Biden and Harris by suppressing or holding our Job rates, artificially low; they work against the best interest of American workers.
So, Vote for Joe Biden – I Really, Really, don’t know.
Staff Writer; James Davis
Mr. Davis is a Financial Analyst. His articles are about relating facts in a usable, truthful, and understandable way. That way, WE ALL WIN. James is, the author of three books, among them, “The Fix This Time,” Boost Your Retirement Income! Simultaneously Create Jobs and Spur Economic Growth (https://www.amazon.com/dp/B00MI3PD2M). Reach out to James @ his blog https://thefixthistime.com.
Question? Comment? One may use this email address; MrDavis@ThyBlackMan.com.
