Thursday, August 28, 2008

Scoop #2!! New Government Unemployment Measure to be Unveiled Before November

Administration sources have informed Market Factors that beginning in September of 2008, the government will do away with the U1 through U8 measures of unemployment.

Citing the need to modernize the measure to more accurately reflect key population factors, the new measure is widely expected to provide a more accurate picture of unemployemnt in certain core demographic groups.

The new measure called U-238 will have a much, much stronger emphasis on employed college grads, retirees, and white suburban women who have chosen to raise families instead of paid employment.

Preliminary numbers are already out: The September unemployment rate will stand at an impressive 0.1%. With such great news we can safely say that the goal of full employment has been acheived by the Bush Administration.

Unfortunately full employment brings other economic risks such as wage inflation which can hurt corporate profits and US competitiveness. The US chamber of commerce is said to be lobbying hard to increase the supply of foreign workers allowed into the US in order to keep the economy growing at its full potential.

Democratic Party offials said while the number does seem very good, and does undercut their case to the electorate, they were very busy with the election. They expect to look into the new measure sometime after the November election.

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