I’m not above giving someone their due when they do a good job, but let’s be real for a minute, shall we? The victory laps that the White House loves to do every time they add (and THEY don’t add… businesses add) 100,000 new jobs to the job market is really sweet…but it’s also really cooked. I mean, the numbers are cooked. Are you adult enough to face the REAL numbers?
Currently, the unemployment rate stands officially at 4.9%. There are 94,391,000 people in the workforce today. That stands in contrast to 153,716,000 in the workforce the day Barack Obama took office. Just in case you don’t have a calculator handy, let me do the math. That’s a decline of 59,325,000 or 38.6%. You read right. 38.6% of the workforce basically stopped working over the past eight years. They are gone. And yes…I am one of them. Mine was a different situation, but count me in.
Now, not all of the 94,391,000 in the workforce are actively employed. There were “officially” 7.8 million unemployed in the workforce. That compares to 11.6 million the day Obama took office (remember…we were in the “Great Recession” at that point). But the really interesting thing here is that the percentage of workforce has decline more than the unemployment rate. In 2009, the total workforce rate was 65.5%, meaning 65.5% of the people in this country were working or looking for work. Today that number stands at just 62.8%. That’s a decrease of 2.7% in 8 years of eligible employees. And when you take the 59,325,000 and add them to the unemployment rate? Well, it’s higher today than it was in 2009. In essence, Bobo has LOST more jobs than he has claimed to have produced. And again…unless the US Government is hiring, the government does NOT create jobs. Businesses create jobs. Though there ARE 22 million of you out there working for the federal government!
The whole point of this is, there is no reason for a victory lap. And the really bad thing in all of this? While the Obama administration is touting how wonderful it is that they’ve added all of these jobs over the past 72 months or whatever, 6 million Americans (almost equal the number of “officially” unemployed) are working part time, not because they want to, but because they have to…it’s the only thing they can find. That means if they COULD find full time work, they’d be working full time…but they can’t. So they’re working under 30 hours a week (thanks Obamacare!). If you want to hear the REAL unemployment number, it’s 9.7% (that’s called the U-6 number). That means there are REALLY 14.9 million Americans out of work…but over 3 million have just quit looking for a job every week.
Bottom line? The economy isn’t that much better than where it was back when Bobo took office. Oh, he can point to all of the jobs he’s created (which he hasn’t created any), but when push comes to shove, numbers don’t lie…and for those of you interested, these numbers came straight from Obama’s Bureau of Labor Statistics (visit http://www.bls.gov)
Carry on world…you’re dismissed!