Rush: Obamas Election Strategy Is to Kill JobsI finally figured it out, Limbaugh said Friday.
Because the government does one survey to learn how many jobs were created and another survey to determine the unemployment rate.
The unemployment rate is calculated as a percentage of people either with jobs or looking for jobs.
The chamber’s executive vice president, David Hart, said the falling unemployment rate shows Florida is making the right policy moves to create jobs and bring the state out of recession.
A broader measure of the unemployment rate that includes people who have given up the job search, the U 6 rate, stopped its steady slide last month.
In April, the labor force participation rate fell to 63.6 percent, the lowest it has been since 1981.
Florida lost eligibility for that funding when its March unemployment rate dropped to 9 percent.
The youth unemployment rate was 18.5% in July 2009, the highest July rate since 1948.
When that number shrinks, the unemployment rate can also fall, even without substantial job growth.
The labor force participation rate, that is the universe of all jobs available, is skyrocketing upward and that means fewer people are counted in the whole equation which means the unemployment rate is plummeting, Limbaugh continued.
Florida’s improving unemployment rate may be good news for most people, but it will have a negative effect on many of the estimated 836,000 workers who remain jobless.
Under Obama, when the unemployment rate falls, the jobs situation is getting worse, Limbaugh said, because they then rely on government subsidies such as disability and food stamps.
Jacqui McIntyre is a business journalist based in London, UK. Jacqui has a passion for financial markets and breaking news stories and loves writing about business news, stock market, and economic opinions that matters most to its audience. Jacqui spends a lot of time discovering and researching latest financial markets and industry news stories in order to make sure the latest and greatest stories are brought to you first on BigBoardNews.com.