There are official figures, blatant falsehoods, and perhaps none more damning than the official unemployment number, which, in Rasmussen’s opinion, is half as high as the real rate. Even worse, compared to July’s official figure of 4.3%, the number of Americans who are neither retired nor working is more than four times greater.
I’ve been arguing for months now, in brief, Instapundit pieces, that since the COVID lockdowns, our nation has had an employment slump from which it has never fully recovered because of Bidenomics. The figures are available in the most recent Rasmussen unemployment poll.
The report is paywalled, but if you’ve ever wondered where some of your VIP membership money ends up, I pay the subscription cost (and take the tax write-off) so you don’t have to.
In July, 8.4% of Americans were jobless and seeking work, according to a study by Rasmussen of over 9,000 people in the country. This is the statistic that the Bureau of Labor Statistics (BLS) should disclose each month. Up from June’s similarly fictional 4.1% unemployment rate, the BLS recorded a cheerful 4.3% number last month.
Things just get worse from there. Because, naturally, they do under Bidenomics.
Retirement is a pleasant state of affairs for one in four adult Americans. Just under 30% work for a private corporation, and 15% identify as entrepreneurs, which might include everything from driving an Uber to starting a Silicon Valley startup.
The government employs almost ten percent of the workforce in various capacities. Taxes fully fund these workers, who do not generate tangible money. It is more difficult for the rest of us to comply with regulations when a government official is involved.
You may have noticed that, if you’ve been mentally adding up these figures, the total is nowhere near 100%. Regarding their work status, roughly 3% of the respondents asked gave a “not sure” response, which I think includes using marijuana. The remaining 9.7% identified as “not in the workforce,” meaning they were unemployed but not searching.
This suggests that 18.1% of Americans are unemployed or have given up on finding work, even though they want to. That is more than four times the official unemployment rate.
It also implies that the 45% of American citizens who work in the private sector help the 55% who are unable, unwilling, or both.
This could be the reason you felt exhausted when you woke up for work on Monday.
Even though Rasmussen’s figures don’t quite match those of the Great Depression, they are consistent with a weak economy or a real recession when the real unemployment rate hits 25%. And that’s even with Washington pumping trillions into the economy to spur development, including $8 billion for Intel, a company that just laid off 15,000 workers.
The antithesis of Bidenomics is that what we really need is another wave of significant deregulation, tax cuts, and a stop to Washington’s careless expenditures.
Author: Steven Sinclaire
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