Did You Know...

   

Obama economic adviser: Actually, the unemployment rate is .046 percent lower than reported

Share
By Doug Powers  •  August 3, 2012 04:10 PM

**Written by Doug Powers

The latest jobs numbers were released today, and the Board of Labor Statistics reported unemployment at 8.3 percent. The White House took issue with the number and corrected the record:

The White House is really getting specific when it comes to the unemployment rate.

Rather than 8.3% — the rounded-up figure — Obama economic adviser Alan B. Krueger writes on the White House website that the real jobless rate is 8.254%.

“The household survey showed that the unemployment rate ticked up to 8.3% in July (or, more precisely, the rate rose from 8.217% in June to 8.254% in July),” wrote Krueger, chairman of the Council of Economic Advisers.

It’s .046 percent lower than reported? Welcome to the recovery! … Again!

Nancy Pelosi said this is a step in the right direction. Why does that sound so familiar?

Krueger’s predecessor, Austan Goolsbee, who has since left the administration to return to the only place their theories can actually be made to work — a university lecture hall — called the overall growth rate “measly” in this clip from shortly before today’s jobs report was released:

If Goolsbee still had his old job the above would have gone from “there aren’t going to be any jobs” to “a smile is just a frown turned upside-down.” But now that chore falls on Krueger, who does so much spinning that there’s a rumor he pops dimenhydrinate tabs from a John Maynard Keynes limited edition signature Pez dispenser to keep from falling down.

(video h/t Ed Morrissey)

**Written by Doug Powers

Twitter @ThePowersThatBe

blog comments powered by Disqus
~ For the latest breaking news, be sure to join Michelle's Email List:
Follow me on Twitter Follow me on Facebook