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Obama Cooking the Books on Jobs Numbers?

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  • Description

    FBN’s Gerri Willis breaks down the good and bad of the unemployment numbers.

  • Duration 3:13
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An accounting -- cooking the books fudging the numbers to make them work -- Today's White House is taking that to a new level using today's jobs numbers to paint a rosy picture.

But doesn't even exist here's the president today.

This morning we learned that American businesses.

Added another 2121000.

Jobs last month.

All right so that's -- -- 121000 jobs minus the 121000 government jobs that's a net gain.

Of 200000 private sector jobs so really what are these jobs.

Well remember this -- We -- you this video last month he was a guy UPS hired over the Christmas season to help with deliveries.

He -- customers package to the ground and made an obscene gesture.

And that's where most of these jobs work couriers and messengers.

There was a lot of hiring -- -- because of the record amount of holiday shopping that was done on line.

And let me tell you job quality is a big issue here because most of the jobs added over the past year were in low paying sectors.

Bars restaurants and retail.

Unemployment may be coming down but higher paying jobs are not coming back.

Today's jobs report also shows that in the service sector including those couriers and messengers average hourly earnings went down.

Even though for the whole year average hourly earnings were up more than 2%.

Look that's not enough to keep pace with inflation and nearly three and a half percent so -- real terms wages are going down.

That's how it feels to you and me.

And here's -- reality there are fewer people working in the private sector today.

Then when President Obama took office the same is true for manufacturing.

And every -- is something you won't hear the president talk about.

A better measure of unemployment is what the Labor Department calls marginally attached workers that includes everybody who can't find a full time job.

Or quit looking for work altogether.

What's that number.

1515.

Point 2%.

That means the number of people hit by the bad economy is nearly twice what the official number would suggest.

And the real crux of the issue here the percentage working age Americans in the labor force to the so called labor force participation rate.

Is lower now the when President Obama took office that also makes the official number look better than actually it is.

The unemployment rate fell slightly for whites and Hispanics the unemployment rate for blacks is fifteen point 8% exactly where it was a year ago.

For black women.

The rate went up.

Hardly progress.

At the current rate of job growth it would take until 20/20.

To get back to where we were before the recession.

Mr.

President.

We're starting to rebound we're moving in the right direction.

We have made it real progress.

Now's not the time to stop.

We do need this stop we need to stop the crazy spending in Washington.

Like the Green energy grants by the Obama administration billions spent a handful of jobs produced we can't spend our way to prosperity.

If that was the case Europe would be booming.

It's not it's bust and that's where we're headed at this president doesn't change course.

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