NATURAL RATE OF UNEMPLOYMENT
Newlan’s Truism: An “acceptable” level of unemployment means that the government economist to whom it is acceptable still has a job.

A mathematician, an accountant and an economist apply for the same job.
The interviewer calls in the mathematician and asks “What do two plus two equal?” The mathematician replies “Four.” The interviewer asks “Four, exactly?” The mathematician looks at the interviewer incredulously and says “Yes, four, exactly.”
Then the interviewer calls in the accountant and asks the same question “What do two plus two equal?” The accountant says “On average, four – give or take ten percent, but on average, four.”
Then the interviewer calls in the economist and poses the same question “What do two plus two equal?” The economist gets up, locks the door, closes the shade, sits down next to the interviewer and says, “What do you want it to equal”?

The U3 unemployment number fell to 9.1% according to the Bureau of Labor Statistics. This change in the unemployment rate was not due to increases in the number of people being employed, it was due to the number of people who have quit looking for a job

Alternative measures of labor underutilization: CLICK HERE

SOCIALISM: You have two cows. The state takes one and gives it to someone else.
COMMUNISM: You have two cows. The State takes both of them and gives you the milk.
FASCISM: You have two cows. The State takes both of them and sells you the milk.
MILITARY DICTATORSHIP: You have two cows. The State takes both of them and shoots you.
BUREAUCRACY: You have two cows. The state takes both of them, accidentally kills one and spills the milk in the sewer.
CAPITALISM: You have two cows. You sell one and buy a bull.
PURE DEMOCRACY: You have two cows. Your neighbors decide who gets the milk.

REPRESENTATIVE DEMOCRACY: You have two cows. Your neighbors pick someone to decide who gets the milk.

AMERICAN DEMOCRACY: The government promises to give you two cows if you vote for it. After the election, the president is impeached for speculating in cow futures. The press dubs the affair “Cowgate”.