Bernanke unemployment could hit 6.5 percent in 2014, Pigs could fly too?, 11.4 percent based on 2008 labor force participation, Real unemployment part time workers and no benefits
“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.” …James Pethokoukis, American Enterprise Institute, June 2013
“Private sector employment increased by 119,000 jobs from March to April, according to the April ADP National Employment Report….The March report, which reported job gains of 158,000, was revised downward to 131,000 jobs.”...ADP May 1, 2013
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
Yesterday Ben Bernanke stated that unemployment could hit 6.5 percent in 2014.
Woulda, Coulda, Shoulda.
Recently Market Watch queried a group of economists. One of them, James Pethokoukis, of the American Enterprise Institute, accurately stated:
“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.”
So why are Ben Bernanke, the media, the Obama Administration and many in the financial community touting an improved jobs situation?
Bernanke said that unemployment could hit 6.5 percent in 2014.
I suppose that pigs could fly too. If given the proper stimulus.