8.1 Million Removed From “Labor Force” To Lower Unemployment Number, Ohio Asks Employers To Snitch (Video)
8.1 Million Removed From “Labor Force” To Lower Unemployment Number, Ohio Asks Employers To Snitch Video by Silver Report
This economic collapse has been so bad that the BLS has resorted to changing the way they calculate the unemployment data. This wasn’t enough however because as Standard Chartered bank has calculated that adjustments to the headline unemployment rate push the effective number of unemployed to 42 million and the effective UR rate to 25.5% the bank’s chief FX strategist Steve Englander explains, start with 23.1 million unemployed as published by BLS add 8.1mn people who have dropped out of the labor force since February (previously the labor force had been growing steadily, so these are likely unemployed).
This means 8.1 million workers have been removed from the rolls and are not being counted among the unemployed and with the recent changes made to the way the BLS is calculating the data 7.5 million workers were classified as ‘employed but not at work for other reasons’ and the BLS states that these workers are likely misclassified as employed when they are in fact unemployed. This means they have moved the goalposts in an attempt to soften the still pitiful news.
There is also the new website set up for Ohio employers to report the workers who refuse to come into work and though there are many who agree that they should be informed on it still seems rather odd considering we’re sold a stimulus bill that was supposed to go for relief for workers yet for many they never received their payments and some haven’t successfully filled out the applications. We know many states have been coming seeking economic relief themselves and one must ask whether a health problem could be considered reasonable cause to not return to work. Either way, the focus seems to be on relieving the burden from the states as opposed to keeping up with the promises that we’re made when they were adding several trillion dollars to our national debt in the name of workers.