Beginning in 1983 the government changed its method of calculation to show lower inflation by excluding food and energy, claiming they were too volatile to be reliable indicators. The result is the so-called “core inflation” CPI, which is a favorite of the Federal Reserve. The latest figure for this CPI reported by the Bureau of Labor Statistics is 0.4% (for August and also July), but if calculated by the method used in 1980 the inflation rate would be 7½ percent, as shown by Shadow Government Statistics (ShadowStats.com).
Tagged: unemployment rate
Brian Perry is a college-educated law clerk who worked at the Providence, Rhode Island-based Lovett, Scheffrin, and Harnett law firm for more than 25 years before being laid off in 2008. Since then, Perry has relentlessly searched for quality work, but he’s been unable to find anything stable. With minimal income, no solid job leads, and costs beyond what he could manage, Perry was forced to sell his home a few weeks ago.
The Bureau of Labor Statistics (BLS) released its January 2015 report this morning, and on the surface the situation looks good for the Obama administration: 257,000 jobs were added in January, wages improved, and the number of full-time workers increased. The unemployment rate did go up by 0.1 percentage point, to 5.7 percent, but analysts agree this is the result of more Americans looking for jobs, not a slowing economy.
The Bureau of Labor Statistics (BLS) released its January 2015 report on Friday, and the Obama administration is sure to be happy with its findings. According to the report, the U.S. economy added 257,000 jobs, and the unemployment rate moved up slightly to 5.7 percent. The number of full-time workers also increased, along with a slight improvement in wages.
The full bill for Obama’s failed economic policies has yet to arrive. But no such explosion of debt has ever escaped a day of reckoning, and no such monetary surge has ever had a happy ending.
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