Since August of 2011 the U3-Unemployment rate has continued to decrease, and since September of 2011 the U6-Unemployment rate has also continued to decrease. While an 8.3% U3-Unemployment rate is still a little high, it appears as though the employment situation in the U.S. is getting better. Many of you were claiming that the seasonally adjusted U3-Unemployment rate would increase for the month of January because you were, and still are, unwilling to accept the fact that the U.S. economy is currently in the expasionary phase of the business cycle---FYI, real GDP growth has been positive since Q3 2009. Those of you who have a manufacturing fetish will never be satisfied with any government figures that do not perpetuate your preconceived notions about what drives a macroeconomy. I understand that some of you would like nothing more than President Obama to fail, which is fine as everyone is entitled to his or her opinion, but things are beginning to look better and it's time to find some other reason to despise him. It's time for you guys to wake up and smell the recovery.

BLS report (pdf format): [link to www.bls.gov]

Here is a graph of both the U3 and U6 unemployment rate since President Obama took office.

:jan12u3u6:



Seasonally adjusted unemployment (U3) by race

Things are beginning to look better for everyone no matter what their race is. Black unemployment is still extremely high, and hopefully many of those currently unemployed will find full-time unemployment in the near future. Minorities make up a fairly high proportion of individuals receiving government assistance and as more of them begin to reenter the labor force, their dependence on government aid will decrease. I am a firm believer in allowing individuals to receive government aid during recessionary periods---the middle class and the poor have a larger marginal propensity consume.

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:jan12uboxplot:







(Screenshots of code is included to show that the data was not manipulated)



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