The April 7 Associated Press story “In March, 496,000 gave up on working” is inaccurate and misleading. The authors state “People without a job who stop looking for one are no longer counted as unemployed.”
The truth is that no one counts the discouraged. The fact is that the day after one’s unemployment benefits expire, one is no longer counted. This person can be sending out 50 résumés a day, and if he or she no longer receives unemployment benefits, he or she is no longer reported as unemployed. The reported numbers of the unemployed is inaccurate, convenient to government.
Unemployment has continued to increase as shown by the participation rate, and this is not affected by those retiring at normal retirement age, contrary to what the authors state.
A big part of the reason that unemployment is so high is government hostility toward business and the successful. Only a few years ago, Americans would see a successful person as one to be emulated, but today much of what we hear is vitriol, unless of course the “rich person” is part of the favored group (large contributors to political campaigns) or one with access to the media through which to spout their anti-business ignorance.