AP said 3 million jobs were needed to lower jobs number 1%, how has Obama done nearly that with only 139,000 jobs?

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2/4/11, RushLimbaugh.com: "We were told one year ago, almost -- actually probably closer now to 13 months ago -- by Associated Press that it would take three million jobs (new jobs, three million newly created jobs)

• to lower the unemployment rate 1%.

They were just reporting it. Other quasi-experts have said the same thing. So people have been taking that number and forecasting the future and saying, "Well, we're gonna get us back down to where we were, around the five to six percent unemployment numbers.

"But it's gonna take to 2014, 2015." In fact, here's how it reads from January 21st, 2010. "Another way of looking at it," writes Jeannine Aversa, of the AP: "A net total of about

• 3 million jobs would have to be created this year to lower the average unemployment rate

• by 1 percentage point for 2010..."

Ladies and gentlemen, in the last two months we have lowered the unemployment rate

• by .8%, almost a full point,
  

with only 139,000 new jobs: 103,000 jobs in December, and 36,000 in January. Now, the

• unemployment rate dropped to 9% with 36,000 jobs.

The number of jobs created is a thimble.

It's irrelevant. It's almost statistically zero. Yet the unemployment rate has plummeted

• almost a point. How is this happening?

I'll tell you: We're being spun like a top, and here's exactly how they're doing it. They have just subtracted 2.2 million jobs from the universe of available jobs. And how did they arrive at the 2.2 million number? Very simple: 2.2 million people in the last reporting period

• have stopped looking for work.

Well, we've told you about the U6 unemployment rate, the U3. The U6 calculates that. It takes into account everybody out of work for whatever reason. The U3, which is the standard reported unemployment rate...Like the 9% is U3, and that consists of people who are looking for work. It does not count those who have given up, who have been looking for years that have given up. It does not count those whose unemployment benefits have expired. But the U6 does. The U6 is actually up 17-point-something percent. ... It's the more accurate of the two. So even by virtue of adding 36,000 new jobs, the real unemployment rate went up 17-point-something percent.

The reported unemployment rate went down almost one full percent, getting ever closer

• to the magic number of 8%. That's where the Obama regime is headed if they can massage it and pull it off....

Since 2.2 million people have dropped off of the rolls from those looking for work they have

• just subtracted that many jobs from the universe of jobs available throughout the country.

Just 2.2 million. Well, when you reduce the overall number of total jobs, you obviously are going to

• reduce the percentage of overall unemployment,

the way you calculate it for the U3 category. But the U6 number continues to be the real story, and it went up over 17%."...

2/4/11, from RushLimbaugh.com, "Unspinning Unemployment," transcript.
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1/21/10, "Formula shows why it's so hard to cut jobless rate," AP, Jeannine Aversa

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