VP Kamala Harris Can Say, “I will end the policy of underreporting the unemployment rates of American workers.” Will She?
Story by James Davis • 8h
(ThyBlackMan.com) The day the Democratic party, during the Clinton administration embarked upon an official policy of underreporting the unemployment rates of all American workers, professional, blue collar, union, and working-class Americans, they created economic problems. There are unintended negative ripple effects, we are feeling today, because the Clinton administration tampered with our unemployment rates. The good news is, for us and VP Kamala Harris, it can be corrected. She has been said, by none other than former President Bill Clinton himself; that she can be a transformative president.
VP Kamala Harris Can Say,
Fixing the REAL economy, starts with recognizing what is truly the REAL economy, and it is not the economy Biden is now, promoting. He said in the recent past, when he crisscrossed the nation, “Unemployment is below 4%. The longest stretch of unemployment below 4%, in the last 50 years.” Biden referred to and used the U-3 category rate of unemployment taken from the table of Alternative Measures of Labor Underutilization. Biden in his statement implies the U-3 rate is comprehensive of our monthly unemployment situations. It is not. U-3 was never intended to be comprehensive of our monthly Job situation, according to the Bureau of Labor Statistics (BLS) economists. 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.
According to the BLS economists, the most comprehensive unemployment rate for September is the U-6 category rate of 7.7%. That conclusion was the result of a readjustment of our unemployment categories done under the auspices of the BLS during the Clinton administration in 1994. The African American unemployment rate averages 2.7% higher over the most comprehensive unemployment rate of 7.7% making their rate 10.4%. The nation was declared in 2008, to be in a Great Recession by the Obama administration, when the national rate at that time, reached 10.0%. So, the black rate of 10.4% for September currently, puts Black Americans squarely in a Great Recession, which is taking a toll on the working population of the black community.
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