"The Truth-O-Meter Says:" (re GOP ad on real unemployment at 19%)

[applegrove]

The Truth-O-Meter Says:

at Politifact.com

http://www.politifact.com/truth-o-meter/statements/2012/sep/21/restore-our-future/mitt-romney-aligned-group-says-real-unemployment-r/

"SNIP...........................................

The problem is that no reasonable expansion of U-6 gets the figure as high as 19 percent.

First, as we noted above, the more accurate figure to use for labor-force dropouts due to economic conditions is 4.6 million, not 8 million. Second, a big chunk of these 4.6 million are already counted in BLS’ basic U-6 calculation -- they’re "marginally attached" workers. In the most recent month, the marginally attached numbered 2.6 million. So to avoid double-counting, you have to subtract 2.6 million.

This leaves 2 million labor-force dropouts to add to the existing U-6 calculation. Running the new numbers -- perhaps we can call this new statistic "U-7" -- produces an under-employment rate of 16 percent, not 19 percent.

Again, this is just about double the already high "official" unemployment rate of 8.1 percent. But it’s not, as the ad claimed, 19 percent.

...........................................SNIP"

[theKed]

1. Well

they did say their campaign wouldn't be dictated by fact checkers. So, you know, yeah. Real world numbers are for sissies, I guess?