Are latest unemployment numbers worse than they appear?
FBN's Charles Payne weighs in
- Duration 3:48
- Date Sep 10, 2012
FBN's Charles Payne weighs in
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It will never.
Turn Medicare into a voucher -- -- want to give the money back.
To the insurance companies.
Put them in charge of Medicare.
And that was the president speaking out about medical costs on the campaign trail yesterday noticeably absent any mention of Friday's dismal jobs report.
Is the president avoiding the subject because the numbers are actually worse even than they appear joining us now for some analysis is Charles Payne.
From the Fox Business Network hi Charlie in the morning -- So I'd say even more important than the actual unemployment rate is the ratio of employed -- the popularly.
Absolutely because you imitate unemployment rate thing -- it's all fiddle around with it and that's it there's not a true reflection employment to population.
How many jobs throughout -- for working age people overall for the country it's 50% that number is so abysmal but what really struck me with this particular report it's we ought to support a summer job season.
-- teenagers sixteen to nineteen who could've had a job only 20% did for black teenagers 16%.
I imagine that I mean we're talking about a 16% everyone else is sitting around.
And and this is how you get it going this is how America's always got going -- are working in their teens and they develop work ethic and a work have been things like that.
There's a human cost to these job to boards.
That that that I think it's sort of glossed over particularly with the general -- release really bad stuff.
Just -- -- getting -- to the habit of going to work every day it's.
That was a money you know let them around the can I have my summer job I couldn't raise -- -- your own money if rain right now.
Yeah a look right now to up Paul Ryan vice presidential nominee his comments on unemployment.
It's the 43 month.
Of unemployment above 8%.
For every person who got a job last month nearly four stopped looking for work that's not a good direction.
And that's a -- number there's there that stopped looking.
That's why you go from a point three to eight point 1% -- the only 94000 jobs were created.
Eight million people have dropped out of the job market eight million since inauguration.
That's amazing that's a million Americans go adults who have sort of given up on the American dream.
And -- you know what.
I guess you know another point he -- Paul Ryan could have made was in June because his numbers are revised.
The number was only 45000.
Americans -- new jobs net new jobs a 174000.
World food stamps so that gives you some sort of idea of what's happening here.
You know listen people don't want a real food -- to -- -- one and -- really bill welfare but what happens is we have so many people been unemployed for so long and they give up.
They become wards of the state and then at some point.
It's hard to get out of that certainly your job skills deteriorate you know your ability to get off to so for years.
Your -- you know all that's sort of fades away and we're seeing that every single month and these numbers these numbers you know you look at -- he say okay 94000.
And some people come -- there wasn't too bad note these are horrific these are terrific numbers.
Particularly for America which -- always been a job creation machine.
-- one amazing things is also coming out is that people are postponing retirement the older folks are not able to get by anymore.
So they are getting out there and taking some of the jobs that would normally go to these younger people.
A militant a huge phenomenon.
Women over 55 getting back into the workforce amazing phenomenon it's up dramatically I think in 2000.
Their their participation rate the job forces like 34% -- over 50%.
Just absolutely huge so you're absolutely right before getting back end.
And I -- a tape from a reporter's point of view off -- -- you know do you have a chance.
And looking at a young kid who maybe never had a job before someone who has -- knows how to greet the customers -- who knows how to count change him I give the older person a job but.
It's not the direction we want to be going -- that's for -- now.
All right Charles Payne fox President Bush said better -- -- I know things are covenant of running out with my birthday yeah.
She -- happy birthday --