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Well we know about this unemployment dropping from eight point 1% to seven point 8% in the month of September -- now this is something that Democrats really spent the weekend celebrating.
Republicans say that this is nothing to cheer about listen to both side.
I understand that for some support governor Romney.
It was disappointing that the economy is improving that that number -- -- for the country.
It was very good news and I think what it does do is rob governor Romney of one of the talking points you've -- the last debate.
This economy is not doing well and the fact that you have a White House celebrating.
And unemployment rate of seven point 8% with 23 million Americans out of work are unemployed or underemployed.
Tells you a lot about the failure of this administration.
Policies are well let's try to put politics aside -- just a minute it here's the question we want -- out.
Are the jobs numbers where they should be -- Spiro from the Fox Business Network are they.
Now and then the White House and even tell you that there are two numbers that everyone talks about the United States we pay attention to that household survey number the seven point 8%.
That's done Heather simply by phone calling people they call 60000 -- they are you working and if you look at it at seven point 8% number.
How large -- of -- people who've now said yes I'm working are working part time so even the White House would say that's not good do we have -- way of knowing in -- whether or not these people are choosing to work part time that they want to work part time there's actually a line within the report that indicates these people do wanna work part time to if you order a factory in.
The people who want to work part time the people -- dropped out of the workforce that's the labor participation rate.
To what the real unemployment rate would be it would be fourteen point 7%.
Yeah that's a real unemployment rate under employed and those unemployed which -- about 23 million Americans who want to work whether they're working part time or have given up this is not a good jobs report -- how -- jobs do we need to be creating each month to get us back to this -- recession that's the number we should be paying attention to and that is reported in the in the Labor Department every month and and you need 200000 numbers just maintain where we are you need more than 200000 jobs created every month to put people back to work -- to account for people who are coming out of high school coming out of college going into the workforce we created -- 1141000.
Not not so we're at least a 100000 jobs short per month just to get us back to where we were before where we that's -- and that's what waiting -- out.
I know you talked to a lot of CEOs and small business owners a lot what did they say the big hang up is with the economy and their ability or inability to hire more people.
-- keeping its two trillion dollars off to the side that's money they could be using to hire people to expand in what would be a perfect time to capture and market share.
But they're not they're sitting it out.
So it's really a lack of confidence in the economy -- and that speaks volumes of the labor force participation rate that needs to basically the number of Americans who are working right now.
Why is that significant.
It's significant because 63 point 6% of the actual number is the lowest it's been since 1981 actually in 81 of -- 63 point 5%.
This is thirty years we've gone backwards we need to be putting people to work and with a labor participation rate at 63 point 6%.
Not good look at the bottom line these new jobs numbers even though they may sound promising nothing to celebrate yet nobody's going to say putting people at least part time to work his bad but these people want full time jobs Adam Shapiro from the fox this is our near and come back again -- yes -- -- at.
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