Don't Be Fooled By Jobless Numbers

Once again the mainstream media is trumpeting jobless numbers that show the economy picked up steam last month, making Democrats practically giddy. However, as with previous figures released by the Labor Department, the data falls woefully short of painting a true picture of the nation's employment.

In the latest figures, the bureau pegged unemployment at 8.9 percent in February. That was down from 9.0 percent in January and marked the most favorable reading since April of 2009. Democrats and their surrogates on Wall Street and in academia pointed to the numbers as proof the economy is roaring back.

White House economist Austan Goolsbee had the audacity to claim the government authored jobs report offered proof that President Obama's policies were working to revive the moribund economy.

Not so fast. As this scribe has pointed out before, the government's Labor Department uses outdated methodology to calculate its monthly numbers. This skews the data rendering it practically useless in determining the real unemployment situation.

The independent Gallup polling organization's unemployment data offers a more sobering assessment of the nation's economy. The pollster's data pegged unemployment at 10 percent in mid-February. (Note: Gallup figures for the end of February have not been released.) Gallup's January unemployment number was 9.8 percent. Clearly, unemployment is not improving as the government contends.

But that's not even the worst news. Underemployment has soared to a whopping 19.6 percent. This statistic combines unemployment with the number of part-time workers who want full-time employment.

In its report on the economy, Gallup had this somber warning. "Jobs remain the key to getting the U.S. economy moving, and mid-February underemployment results suggest little or no progress is being made in that regard," the report concluded.

Even the Labor Department's monthly summary contained troubling news. Buried in the otherwise glowing account was this nugget: the participation rate in the labor force is stuck at its lowest point since the mid-1980's.For those unfamiliar with the participation rate, this key barometer measures the percentage of adults who have jobs or are seeking them. In February, the bureau estimated the labor force participation rate was 64.2 percent.

There is another way to look at this number. In the current economy, about 25.8 percent of adults are either not working or not trying to find a job. Even the President's hand-picked economist Goolsbee would find it difficult to gloss over this finding.

It is time for the administration to level with Americans on the economy. Despite trillions in bailouts, stimulus spending and worthless earmarks, the American economic engine remains stalled.

Obama-nomics have been an utter failure. If America is to regain its economic footing, Republicans must chart a new course designed to rev-up the engine of prosperity, which will lead to real job growth.