
© REUTERS/Nick OxfordPeople who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease (COVID-19), at an Arkansas Workforce Center in Fort Smith, Arkansas, U.S. April 6, 2020.
There is a lot of talk about the "unemployment rate" these days, but the way that it is calculated has become so convoluted that it is not really that meaningful anymore. Even during the so-called "good times", more than 100 million U.S. adults were not working, but we were told that the unemployment rate was the lowest that it had been in decades. Of course now everything has changed.
Since this pandemic began,
more than 47 million Americans have filed new claims for unemployment benefits, and the mainstream media is going to make sure that fear of COVID-19
continues to paralyze our society for the foreseeable future.
In this article, I would like to discuss the employment-population ratio. According
to Wikipedia, the employment-population ratio is "a statistical ratio that measures the proportion of the country's working age population that is employed". I believe that it is a far more accurate measurement than the "unemployment rate" is, and we have seen this ratio move quite dramatically over the past couple of months. According to
CNBC, the employment-population ratio hit 52.8 percent in May, and that means that 47.2 percent of all working age Americans did not have a job...
Comment: While the author seems to be rather off in some of his pronouncements, the big picture is on-track - that climate alarmism is a dangerous cult that is as misinformed as it is radical, unnecessarily scaring the public and blaming them for their climate sins. One hopes his book will get some traction and make some of the radicals question their assumptions. No wonder Forbes scrubbed it.
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