Feb. unemployment rate 8.9% with 192,000 jobs added but that’s still 35,000 short of just breaking even

What’s the official take on the February unemployment numbers? Moving in the right direction, but not yet good enough. That’s what you’ll hear Obama say. We added 192,000 non-farm payroll jobs and the official unemployment rate has now dipped to 8.9%. All good stuff, right? Not so fast.

According to the U.S. Census Bureau, the official population count increased 27,323,632 from the year 2000 to 2010. Average that out and you’ll find that over the 120 month, 10 year period, we gained an average of 227,696.93 people per month. Do the math yourself if you wish. The population in the year 2000 was 281,421,906. In 2010, it was 308,745,538.

Any way you slice it, we need at least 227,696 new jobs created each and every month just to keep up with the population expansion rate. That doesn’t include returning the 15 million unemployed to work. That doesn’t include returning the underemployed back to full-time status. That doesn’t include counting the illegal aliens occupying our country.

While nobody is going to complain about any amount of new jobs added and putting Americans back to work, we’ve been singing this same old tune for far too long now. The recession ended 19 months ago. We should be adding several hundred thousand more new jobs each month at this stage. The only reason we aren’t is the policies of the current administration. Period.

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11 thoughts on “Feb. unemployment rate 8.9% with 192,000 jobs added but that’s still 35,000 short of just breaking even”

  1. 5etester: btw, I have added you to my blogroll. The questions you present and the observations you make are more insightful than those of most bloggers. I am selective as to who I add to my blogroll, so I mean it as a sincere compliment.

    I would have sent you this by email, but I can’t find a contact link!

  2. Absolutely. I consider the BLS U-6 ranking far more accurate than the “official” rate. Rick Santelli also referenced your point today as well. The Gallup poll reflected a 10% rate. John Williams of Shadow Government Statistics shows over 22% when he utilizes the old methodology that strips out all of the “tricks” used today.

  3. Let’s see now, they have been telling us for months now that we have to be patient, that the last thing to recover from a recession is jobs. They may have that part right, but at this rate, we have to start wondering if the jobs are ever going to recover.

  4. They won’t. Not when we need over a quarter million per month just to keep pace with the expansion rate. I don’t think the general public quite grasps that. We need roughly 3 million new private sector, wealth creating jobs each year simply not to regress. Not on the Obama watch.

  5. Could this be a way to make more and more people dependent on government, or is it more liberal denial of reality?

  6. No question that both of your points apply. The methodology in use has been skewed for decades, so I don’t see it as a left/right issue. Just as the C.P.I. used by the Fed ignores food and energy prices, the data sets used for the unemployment rate with its biased birth/death model are unreliable. Garbage in, garbage out seems to apply here.

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