Do They Take Us All for Fools?
They are taking us for fools, folks, with all of this. They’re insulting our intelligence. But you and I are not fools in any way, shape, manner, or form. If the labor force participation rate had just stayed steady all year, the unemployment rate would be 8.4% today versus 8.3% in January, if the labor force participation rate had stayed steady all year. Meaning, every month or two the administration is just lopping off jobs from the jobs universe.
I’m talking about two things here. I’m not talking about just people stopping looking for work or people not finding work. I’m talking about in your town, if there are businesses with a total of a hundred thousand jobs, the administration is deciding that today there are only 80,000 jobs available in your town. They’re guessing. All of this is guesswork. Some of it’s estimated. The household number is pure guesswork. They make telephone calls to people. The household number, this 800 some-odd thousand number, never gets reported other than when Democrats are in the White House. They’re just arbitrarily shrinking the labor force, and they’re doing it on the basis of a slowing economy.
You don’t do that in a growing economy. You expand the number of jobs, and then you fill them, and that equals economic growth. What they are doing as they insult our intelligence to get their unemployment number at a more favorable rate is actually shrinking, by virtue of their statistics, the number of available jobs in this country.