(ThyBlackMan.com) Here is the problem with as much clarity as anyone can muster. There is just “no positive upside,” no beneficial interest to be gained for American workers, professional, blue collar, union, and working-class Americans, as a result, of President Joe Biden actively suppressing, or holding our Job rates, artificially low through undercounting them. “Nada – zero, meaning there is absolutely nothing at all to be gained.” The question has to be asked, if American workers are not benefitting from this disastrous policy, who then is really benefiting from this scam, is a question we all should quietly ponder. Knowing that will clearly tell us a great deal.
Here is also an additional problem, and this one is just as concerning. Biden’s policy of undercounting our Job rates is disrupting our economic life in the long term, and this is being done without any public discussion. President Joe Biden, Democrats, and Rep. Steven Horsford of Nevada, Chair of the Congressional Black Caucus (CBC), who supports this awful policy through the Caucus’ silence, are not only openly, and actively pursuing the policy of undercounting our Job rates, leading to undercounting coming layoffs, as a possible 3rd Recession looms, but they also want to make this vile policy permanent.
So, here is what the Biden-Harris administration is attempting to make permanent. Knowing what they are doing, is critical to understanding, why, as VOTERS and American workers, we should demand Democrats E-N-D the practice of undercounting the Job rates of American workers, professional, blue collar, union, and working-class Americans, everywhere.
President Joe Biden does not need the approval of Congress, and he needs no additional legislative power to change his official rate of unemployment to what economists have established as the Real rate of unemployment, 6.7% for July, pulled from the U-6 category, taken from the Table of Alternative Measures of Labor Underutilization, and not the president’s 3.5%, U-3 category rate.
The U-3 rate was never intended to be viewed, as being comprehensive of our Job Situation. By using the U-3 rate, as his official rate, and actually “knowing it is not comprehensive,” President Biden turns U-3 into, nothing less, than “a political Job rate.” Knowing it isn’t comprehensive, and a misleading political rate, and arrogantly selling it, as the real Job rate, which is not disputed, he politicizes our Job Situation, right before our eyes, hiding the country’s real economic situation. This is, as stated above, not in our best interest. So, in whose best interest, is it? The Department of Labor’s reputation, as an honest broker of Job information, and as an institution, is put in jeopardy, and compromised every month, as a result of the ploy.
President Biden arrogantly sells the U-3 rate, as being comprehensive, without any justification, and the mainstream media outlets promote the rate, without any explanation, thus proliferating the falsehood, when it comes to our unemployment rate. On July 20, 2023, in a speech in Philadelphia, President Joe Biden touted his U-3 unemployment record saying, “Unemployment is below 4%. The longest stretch of unemployment below 4%, in the last 50 years.” What he said wasn’t true. The real Job rate was 6.9% for June, the referenced month he is speaking of in that speech. The Black American worker rate averages 2.7% higher over the Real rate, making it, 9.6%.
Here in a visual way, is truly how the Biden scam hurts us. The Real unemployment rate for July (the U-6 rate), is 6.7%. Biden’s 3.5% rate is 52% of the Real rate. So, what does that mean to you – that his rate is 52% of the REAL RATE. It means when he counts unemployed American workers, using the U-3 rate, which was never meant to be comprehensive, he counts only 52% of us, unemployed American workers.
That simply means 48% of us, if we are unemployed, are left out of “his count.” That 48% of American workers, professional, blue collar, union, and working-class Americans, everywhere, have to fend for themselves for available financial resources, as we possibly head into our 3rd Recession in 15 years. You ask why? If we are not a part of an official count, then the 48% officially becomes “invisible” on paper, to all legislators, Democratic, and Republicans, when legislative action is debated. When you are invisible, it is a bit difficult to make a passionate argument, on our behalf, for the needed amount of national funding to help us. To acknowledge us, and make us visible, President Biden, Democrats, and Rep. Steven Horsford of Nevada, Chair of the CBC will have to own up to the TRUTH, they are undercounting our unemployment rates and have been doing so since, 1994.
What makes this undercounting our Job rate enterprise work are politicians, like Mr. Biden, and members of the Congressional Black Caucus, who have put party and their own self-interest, before voters, they were elected to represent. Their supporters are the mainstream media, including the New York Times, the Philadelphia Tribune and major television networks, like NBC, and CNN. They promote the Biden-Harris false narrative when it comes to undercounting our Job rate. Biden, with the bully pulpit, of the presidency, and with these media outlets behind him, are formidable and they are not tiny forces.
An example of the mainstream media support of the Democratic narrative regarding our Job rate, is this Philadelphia Tribune quote, on July 20th regarding Biden’s above speech, in Philadelphia.
“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 was 6.9%, as stated above. Yet, this mainstream newspaper, the Philadelphia Tribune sees nothing wrong, with promoting disinformation, on the behalf of and fomented by the Biden-Harris administration.
David Brooks, opinion columnist for the New York Times weighed in about Job rates in a piece titled “Why Biden Isn’t Getting the Credit He Deserves, dated 6/29/2023. Joe Scarborough of MSNBC discussed the piece on his show.
“The misery index is a crude but effective way to measure the health of the economy,” says Brooks in the article. You add up the inflation rate and the unemployment rate. If you’re a president running for re-election, you want that number to be as low as possible. When Ronald Reagan won re-election, it was about 11.4, when George W. Bush did so it was 9, for Barack Obama it was 9.5, and today, as Joe Biden runs for re-election, it’s only 7.7.”
“Why Biden Isn’t Getting the Credit He Deserves,” Brooks ask? Maybe, it is because Biden’s real misery index is actually 10.7, not 7.7, (adding the inflation rate of 4.0%, and the REAL May unemployment rate of 6.7%, at the time of the article, equals 10.7). So, Biden LIES about our Job rates, with the support of the mainstream media. In that article and the ensuing discussion, the New York Times and Joe Scarborough, openly and unapologetically promoted the false narrative of Mr. Biden, and the Democratic Party, as they implied our Job rate was 3.7%, and that was not true. They offered no justification for disregarding the REAL Job rate as they promoted disinformation of Biden and the Democratic Party.
Former President Trump, and his minions are not the only ones trampling on our Democracy. President Joe Biden, the Democratic Party, and the CBC, with the help of the mainstream media are taking our Democracy for granted, as well. Facts do not lie. Republicans, “who support Mr. Trump deny facts.” But we Democrats are constantly saying we are better, than MAGA Republicans, in regard to factual evidence and the RULE of law. Here is something else to ponder, along with who is benefiting from this odious policy. As we watch our Job rates rise, and remain silent about Biden undercounting our Job rates, are Democrats really, much better, or different, from MAGA supporters? Denying Facts is Denying Facts, regardless of the PARTY. “Fix the Real Economy;” Mr. President; help American workers flourish.
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.