How does the unemployment rate decrease even as more jobs are lost? Easy – just don’t count those that stopped looking for work and viola! Good news all around. Except that this is kind of like Enron accounting. Nor are those that went back to school counted. Nor are those that took part-time jobs just to survive. In fact, it’s not like Enron accounting, it IS Enron accounting. ‘Hide the decline’ as it were. From the Detroit News: Michigan jobless rate falls to 14.7%
Michigan’s jobless rate in November fell to 14.7, from 15.1 in October, state labor officials said today. The U.S. unemployment rate in November dipped by two-tenths of a percentage point to 10 percent.
The state’s November rate was its lowest since May.
The Michigan Department of Energy, Labor & Economic Growth said total employment increased by 16,000 in November while unemployment fell by 20,000. The state’s labor force edged down by 4,000 over the month.
DING, DING, DING!!!! So Michigan still lost net jobs, even as the official unemployment number decreased. Hmmm. How come that aspect was buried in the article? Oh that’s right – a Democrat is governor, and that means all is well now. Groan… Thus begs the logical question: if our population is decreasing, jobs are still being lost, tax revenues are down as a result, and inflation was negative last year, why is the state budget continually increasing??
2003 Total Budget: $38,546,223,200
2004 Total Budget: $39,236,530,900
2005 Total Budget: $40,224,217,400
2006 Total Budget: $41,672,547,100
2007 Total Budget: $42,791,804,000
2008 Total Budget: $43,827,383,200
2009 Total Budget: $44,500,000,000 (approx)
Funny how liberal math works out sometimes.Well, not so funny right now in fact…