2014
Depending on what you want to prove, you can focus on an unemployment rate that suits your needs. The Bureau of Labor generates six different numbers. The most talked about is U-3 and that number excludes people who are no longer actively seeking employment. As you can see below, that number is 6.7%.
The U-6 number is far more comprehensive and gives a more accurate picture of the workforce including people who have dropped from the workforce but actually want a job.
Aside from the fact that Bridgegate involving Gov Christie has taken everything else off the front page at the moment, politicians are in a heated debate about extending unemployment benefits. Of course the good guys are the Democrats and the devils are the Republicans. But isn’t it just a tad ironic that the people passionately arguing for more unemployment benefits are the same people who were the architects of stimulus for “shovel ready” jobs, who have been touting the falling U-3 unemployment number and who for over five years have been calling for greater focus on creating jobs. What happened?
If the subject were not so serious it would almost be funny that the liberal Center for American Progress has released a list of five reasons why unemployment insurance must be extended and in doing so unwittingly also makes the case for failed policies over the last five years to deal with jobs. Their list paints a grim picture of the job market.
QUINNSCOMMENTARY 
yes….very well put…….their failed economic policies over the last 5 years…are at the core of our current domestic economic woes….the cure?….not to endorse policies that create jobs but rather exploit socio-economic inequities , more spending and taxation….lets face it they have no record to run on in 2014 or 2016 for that matter. So more class division and free stuff for for their low information followers.I am not so sure this strategy will work again as it did in 2012!
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What’s up with unemployment? Good question. With so much data available from different sources, you can create any narrative you want. As the old saw says,”if you torture data long enough, it will admit to anything.” If only 74,000 jobs were created, we can expect the next U-6 number to tick up or the narrative about more baby boomers retiring and leaving the labor force for good or a revision in the figures. I think we will see some combination of all of the above. In any case I believe your comment on a grim labor picture holds true.
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