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(ThyBlackMan.com) President Biden, now in his first term was elected, based in part on the policy of undercounting our unemployment rates, a scheme started during the Clinton administration. He now seeks another four years. Even as he knows African Americans, one of his major coalition supporters suffer the most from this unethical, and rotten scam, he forges ahead with this awful policy.
The Biden-Harris administration cannot be, both pro-working-class America, and then undercut American workers, professional, blue collar, union, and working-class Americans, everywhere, by “actively undercounting our unemployment rates, leading to under-reporting our coming layoffs (what Democrats do),” as a 3rd Recession in 15 years bears down upon us. You either support the American working-class, or you don’t! It’s simple, even a 5th grader gets this, as VOTERS will, also.
Can this repugnant policy prevail this time, as the presidential race tightens? This will be a test of the integrity, and values of President Biden, and the Democratic political party, when it comes to our democracy. Mr. Biden, outright misleads America, and American workers, through disinformation (a tool of authoritarian regimes) on the condition of our economy, when it comes to what is the Real, and comprehensive unemployment rate. The results of that test will make a positive difference in the working lives, of voters, and American workers, if the test results, in Biden finally telling us, the Truth about our unemployment rates.
Fixing the REAL economy, starts with recognizing what is truly the REAL economy, and it is not the economy Biden is now, promoting, when he says, “Unemployment is below 4%. The longest stretch of unemployment below 4%, in the last 50 years.” The best way to understand what the REAL economy is; let’s do a short review. You have to go back to 1994 and the Clinton administration, where, and when the REAL economy was distorted by the Democratic Party.
Democrats quite simply believe, you can LIE the real economy away (does that remind “you” of anyone else?), and proceed, as if your Lies about our unemployment rates are true. It reminds me, of Mr. Trump, and what he is trying to do. He lies about the 2020 presidential election saying, the election was stolen. Trump is now facing criminal charges, as he is alleged to have illegally promoted that notion. Guess what, the act of misleading us with Lies, as VOTERS, is not restricted to Mr. Trump, and Republicans.
The real Jobless rate for September is 7.0%, (U-6) not Biden’s 3.8% (U-3), making the Black American worker group rate, 9.7% at a minimum. The Black American rate averages 2.7% over the real Jobless rate. These numbers are pulled from the Table of Alternative Measures of Labor Underutilization, which was developed as a result of a redesign of unemployment measurements done, in 1994. The end result of the redesign was a modification of how to calculate the number of idle workers, in our economy. Read the complete article about the study, at your leisure, at this link: https://www.bls.gov/opub/mlr/1995/10/art3full.pdf.
The case against the Biden-Harris administration for undercounting our unemployment rates leading to undercounting coming layoffs is, a simple one. To my knowledge, there are no parties who objected to the study in 1994, and how it was conducted, and carried out. The most notable result of the study, delivered by economists, on page number 24 of the article, was that the U-6 category rate of unemployment was the most comprehensive of our Unemployment Situation. That rate for September is 7.0%.
This conclusion is, obviously being ignored, and brushed aside, by the Biden-Harris administration. And that’s not okay. They should be obligated to acknowledge to American workers, professional, blue collar, union, and working-class Americans, that they are ignoring, what economists, and the study identify, as the Real Unemployment Rate. The Biden-Harris administration should have to publicly defend, their promotion of the U-3 category rate, as being comprehensive of our Job Situation, which it is not, versus U-6, which is comprehensive. That is no different, than what Mr. Trump does. He defends himself, in our Court system every day, regarding his notions, about the 2020 presidential election.
To what inglorious end and place, does Mr. Biden, the Democratic Party, and the Congressional Black Caucus, using the mainstream media, want to take or drag American workers, by suppressing our REAL unemployment rate numbers, through the use of the U-3 category rate, 3.8% for September, is a question – worth asking and pondering? Can anyone see how undercounting our Job rates improves our economic condition, or is in any way, in our best interest, as we face a 3rd Recession in 15 years?
Here is what Dr. Robert Reich who was the Secretary of Labor in the Clinton administration in 1994 said, about the unemployment rate changes, that happened on his watch in a message, to my blog. He wrote:
“Dear Mr. Davis.
You write that “it was decided by Clinton, and Reich, that the U-3 category would become his administration’s official unemployment rate.” That is untrue. The Bureau of Labor Statistics is a statistical agency whose independence from politics is critically important to its credibility. Neither I as secretary of labor nor President Clinton intruded on that independence. The BLS decided and continues to decide how the nation’s unemployment rate is defined, measured, and explained to the public.”
It appears based on these comments from Reich, Clinton and his administration have now, abandoned any support of the policy of undercounting our unemployment rates, started under his administration, using the U-3 rate. Why? It is highly unlikely a bureau within the Labor Department would have the uncontested independent right, and power to declare the official rate of any presidential administration. Biden needs no additional authority, when it comes to declaring U-6, our official unemployment rate, just as the “Clinton administration did not need added authority to promote the U-3 category rate as being comprehensive of our Job Situation,” when frankly it is not.
Democrats, and those who surround BIDEN, from billionaire, and millionaire donors to Civil Rights organizations’ leaders, that support this vile policy through their deafening silence, can advise the Biden-Harris administration, they want to see him adopt an economic growth, and Job creation plan, based on “REAL unemployment rate numbers.” Promoting Biden’s LIE about Job rates as being Truthful, is “a dangerous,” and flawed economic policy for America, if ever there was one. Through this scheme, Biden counted just 54% of the unemployed in September, leaving the other 46% of unemployed American workers to fend for themselves.
Nevertheless, “a day of reckoning is coming,” as the coming Recession deepens, and more and more VOTERS, all across this country will weigh in, once becoming aware of this scam. Voters, especially African American voters, will wake up to reality, and voice their disenchantment with Biden and Democrats continued use of this contemptible policy, as the coming Recession takes hold.
Staff Writer; James Davis
Mr. Davis is a Financial Analyst. His articles are about relating facts in a usable, truthful, and understandable way. That way, WE ALL WIN. James is, the author of three books, among them, “The Fix This Time,” Boost Your Retirement Income! Simultaneously Create Jobs and Spur Economic Growth (https://www.amazon.com/dp/B00MI3PD2M). Reach out to James @ his blog https://thefixthistime.com.
Question? Comment? One may use this email address; MrDavis@ThyBlackMan.com.
