**Posted by Phineas
That’s what they said.
White House Press Secretary Jay Carney explained that the number of people dropping out of the work force, which artificially depresses the unemployment rate, can be regarded as an “economic positive.”
“A lot of that is due to younger people getting more of an education, which is an economic positive,” Carney responded when asked what would happen when people “inevitably” raise the unemployment rating with their return to the work force. He also noted that “an aging population” going into retirement has contributed to the number of people dropping out of the work force.
If people are staying in school longer, it’s because there are fewer and fewer jobs available on graduation, so they stay in school hoping for an eventual turnaround. Oh, and many of them accumulating debt in the process. Is that an “economic positive,” Jay?
But beyond that, people are dropping out of the work force not because they’ve decided to enjoy their “golden years, but because of discouragement, because they’ve been out of work so long, they don’t think they have a good chance of finding a decent job.
Honestly, this administration shovels the you-know-what so fast, you need hip-waders reading one of their press releases.
SHEDDING LIGHT ON THE WHITE HOUSE DARKNESS:
- Is the unemployment rate 8.3%, 8.9%, 9.9% or 11.9%?
- Why the official 8.3 percent unemployment rate is a phony number—and what it means for Obama’s reelection
- Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low
- GOP: Jobless rate above 8% for three years, worst since the Great Depression
- Was Today’s Jobs News Good?
via David Freddoso
(Crossposted at Public Secrets)