Voters will see through falling unemployment rates, realizing they indicate a worsening job market as opposed to an improving one and vote against Barack Obama for failing to improve the labor market, says real-estate mogul Donald Trump.
The unemployment rate dipped to 8.1 percent in April, lower than 8.3 percent earlier this year and much lower than 9.0 percent a year earlier.
The unemployment figure, however, measures the percentage of the work force that is out of a job, but those who quit looking for work, fed up with fruitless job searches, aren't counted as part of the labor force.
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Only those who are actively searching for work are counted, which lowers the headline percentage rate and doesn't truly reflect the number of frustrated Americans who are out of work and struggling.
That's going to hurt President Obama this November.
"You look at our jobs, you look at what's going on with real unemployment, not the 8.2 percent or 8.3 percent where they don't count people that have stopped looking for jobs — that's ridiculous," Trump told CNBC.
"A person stops looking for a job because he can't find one and he's no longer a percentage and then you see that the unemployment goes down. It's crazy what they are doing statistically."
"You have a lot of very unhappy people right now and that's being reflected now in the poll. Romney is doing very well in the polls," Trump adds.
"The president can talk all he wants about class warfare but ultimately, if jobs numbers aren't a lot better than they are right now, he's going to have a very, very difficult time being re-elected."
Weekly initial jobless claims have been falling lately, though economists warn that trend doesn't reflect a surge in hiring.
"The inflow of new claims for unemployment insurance provide encouraging indications that the job cuts side of the job growth equation has slowed," says Nomura economist Jeffrey Greenberg, according to the AFP newswire.
"That said, the hiring side remains lackluster."
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