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ADP private survey shows US hiring slowed dramatically in April, but are the stats worse than we believe?
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And -- in the bucks.
New questions tonight about the reliability of the nation's jobless numbers and unemployment rates is a governor of manipulating the numbers and could that add up to more economic troubles Fox Business network's Liz MacDonald joins us -- is -- government -- in the -- -- some of the numbers they say you know we are things.
I'm weird things coming up and it's in the job -- Greta and you know we're ticketed dispassionate kind of clinical.
Look at the jobs numbers and we're -- some kind of oddities that even Wall Street shops from both sides of the aisle are finding as well.
Kick -- first time jobless claims in other words that people who are filing for unemployment for the first time.
For 59 of the last sixteen weeks those numbers have been revised higher after the fact.
So what that means is is when you have the president week's number eight compared to the prior -- -- It looks great that -- -- prior -- number was revised higher and the other thing we're fighting to assess the unemployment rate.
Again this is -- an issue -- come under both Democrat Republican presidents.
The unemployment rate is doesn't count the people who have dropped out it only counts of people have been actively looking for work.
So when you factor in the drop out stuff comes in at about ten point 9%.
If it if you factor in that the labor force participation rate -- number of people who are -- we're working Italy reports would have stayed the same.
When the recession began in 2009 so you know the question is it when you -- -- unemployment rate of eight point 2% you may think it's -- pay the president's stimulus plan is working.
But -- you do -- deep dive into the numbers and see what the actual -- is it doesn't look so great.
Price isn't the unemployment rate is squishy for lack of better term because it doesn't include those people who have simply given up.
If you included those is there's some see it as anyone done any -- good reliable analysis about what would it but I referred to as the real unemployment rate people who.
Don't have jobs and who while -- them even those of senator.
-- despair -- you know and again it would come in at ten point 9%.
And then there's an even broader resume number that people are very worried about Greta.
And that is the number of people in the labor force.
Is about the same as it was get this in 1960 ninth it was the same as it was in and the rate is the same as it was in 1979.
It's been the same as it was in 1982.
And that is worrisome on two fronts you want more people working there is more people working.
Means more Social Security tax revenues to basically Paper -- the security and also means that we have more people working -- helps fund.
Future unemployment benefits in other words -- -- have less people working.
It means more government handouts so what is -- concern and this is a trend that's been growing under both presidents and -- both sides of the little political -- The employment numbers often referred to as a -- indicator it's slow but slow to respond to -- reality of what's going on becoming I'm curious.
What is the best number if you -- sort of -- the -- how vibrant the economy is.
It what is the best number and the most reliable number and -- or do we have to look at 22 areas.
I think it's so labor force participation rate and and other words.
It's the number of people who have been working who can work meaning those -- eighteen excuse me sixteen or older.
And so you know when we look at the numbers going back.
You know some -- say hey look the reason why the labor force participation rate.
Doesn't look so great is because meet more people -- dropping out because it's more people retiring because they're baby boomers.
You know what when you offset that with -- immigrants coming into the workforce we're students coming into the workforce.
It's still declining -- so that's not a great number and the others should too -- you know what you look at that they've basically again.
This is both sides and political -- we're looking at this dispassionately.
When you look at the number of jobs that have been created under the president's seven or 40000.
There was -- point nine million or so under president Ronald Reagan and first thirty months.
And the -- -- -- as you'll hear time and again that the president has inherited this recession.
We -- worst banking crisis in 1981.
It's with Citigroup got its first of three bailouts.
And I I tell you something you know both sides of the political aisle have been an office in DC for very long time the vice president has been around.
Since the Nixon administration's there was Charlie Rangel you know let's get to Pelosi Harry Reid have been in office since the Reagan administration administrations those Barney Frank and John Kerry.
So again and again time and again you'll hear presidents when when they're in -- reelection say.
I inherited a very problematic.
Recession a terrible recession.
But again and again they have there.
Basically their party has been in office for very long time again this is not just a democratic issue -- -- Republican issue as well Greta.
-- thank you sure.
