(ThyBlackMan.com) Black American voters, and indeed the majority of all voters in this nation have done their duty when it comes to voting Democrats into office, and for this deed, they should be enjoying a reward, because President Biden gave his word to us, “I have your back.” Instead, we are seeing the Real national unemployment rate, established by economists, rise to 7.3% for February, and the Black American unemployment rate, which averages 2.7% higher over the Real rate rollover into a Great Recession rate of 10.0%, as the Biden-Harris administration continues the unethical, and vile policy of undercounting the unemployment rates of American workers, professional, blue collar, union, working-class Americans, and especially Black Americans.
The Biden administration says the comprehensive rate of unemployment is 3.9%, for February, which is not true. The Real and most comprehensive rate, which was previously stated, is 7.3%. During former president Obama’s term, the nation was declared to be in a Great Recession, when the national rate reached 10.0%. However, it is not widely known by American voters that our unemployment rates are being undercounted because of the power of the Biden-Harris administration, and the Democratic Party. They are working in concert with the main street media, to suppress our unemployment rates, hiding layoffs.
When I read the news account of the star-studded entertainment extravaganza which hauled in $26 million for the Democratic Party and the re-election of President Biden, which featured musical guests Lizzo, Queen Latifah, and Cynthia Erivo, it begged the question, “Do these people really know the policies of the Democratic Party when it comes to American workers?” And in knowing the policy would they attach their celebrity to the vile policy of undercounting the Job rates of American workers, including African Americans, which was created by former president Clinton, promoted by former president Obama, and now embraced by President Biden.
It is not unusual for political parties to traffic in lies, especially around election time. President Biden, and Democrats are saying, they can grow the economy, and at the same time deprive voters of information, when it comes to, what our Real unemployment rate is. Many of us could live a whole lifetime and have no discussions about the calculations surrounding our unemployment rates. The subject of Job Rates generally comes up, if there are projected layoffs, in our immediate future. Unfortunately, that is now the case, and we find ourselves having to look more deeply, into Job Rates; to get more understanding.
In looking into our Job Rates, a rigged system was uncovered. Found also, is a broken Democratic Party, that needs reformation. The Democratic Party is manipulating our unemployment rates, so that they are lower, and this enhances the political image of the Party but hurts American workers, and their families, including Black Americans. By doing this, the Democratic Party attempts to hang on to political power. This might be why every effort to get them to voluntarily come clean, about our Job Situation, has failed.
The nation faces its third Economic Downturn in 16 years, affecting blacks more than any other worker group, as blacks are the first laid-off, as the economy declines. President Biden and Democratic leaders don’t deny, they’re undercounting our Job Rates, which leads to undercounting the layoffs, of all working-class Americans, including Blacks, as interest rates rise, presaging an economic slow-down. They do it with impunity, every month announcing the administration’s official unemployment rate, which is not comprehensive of our unemployment situation.
What is important for us, to understand is, the in-house economists at the Bureau of Labor Statistics (BLS), as a result of the redesign of the categories of unemployment rates, concluded after developing the six categories, which describe various groups, of unemployed workers, the U-6 category of unemployed workers, is the most comprehensive measurement, of the nations unemployed.
Essentially, the Clinton administration by adopting the U-3 category rate, excluded from their count, American workers who are under-employed, part-time workers, who want, and cannot find a full-time job, one that pays a living wage, and those, who have looked for a job in the last year, but not in the previous month, or the last four weeks. These people are not considered unemployed, by the Clinton count. The fact you have workers, working part-time jobs, is indicative of the poor health of the economy because of the lack of good-paying, full-time jobs.
Here is how Biden and Democrats hurt American workers, including Blacks. If you low ball or undercount our unemployment rates which leads to under-reporting the number of laid-off American workers, with a job rate lower (Biden’s 3.9%) than the real job rate, (7.0%), Biden willfully, counts only about 56% of laid-off workers, including African Americans. Thus, Biden’s use of the 3.9% or the U-3 jobless rate, is misleading. It gives the impression we have a better economy than, what is, factually true.
Even the most ardent Democrat should understand this. When you undercount our unemployment rates, which leads to under-reporting our layoffs as the Federal Reserve slows the economy, putting it into an Economic Downturn, Democrats are not delivering for working-class Americans, including Black American workers. It was during the Clinton administration this scam was started; however, it was the Obama administration which could have ended it, but chose instead to sustain, and continue it. Now the Biden administration wants to make this scam permanent denying what economists have identified as the real unemployment rate.
President Biden does not need more authority, to change his official Job Rate of 3.9% (U-3) for February, and beyond, to the real jobless rate of 7.0% (U-6), recognized by economists, as the true rate of unemployment, just as the Clinton administration under which the scheme was originated, did not need added authority to start it.
If the Biden-Harris administration were forced to stop, today, undercounting the unemployment rates of American workers, including Black Americans, who have the highest unemployment rate of any worker group, it would require the Biden-Harris administration to adopt an economic policy that will grow our economy. What we are seeing in real time is the power of a LIE about our unemployment rates. The lie about our unemployment rates distorts and economically damages every life it touches. President Biden crisscrossed the nation, embracing a rigged and embarrassingly untrue unemployment rate when he stated, “And [un]employment has been the lowest — been below 4 percent for the longest stretch in 50 years.”
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.