Sunday, January 06, 2013

The December '12 jobs report is more of the same



December's jobs report is more evidence that Obama's recovery is no recovery at all.  

In fact, all you can say about Pres BO's first term is that we have increased our national debt by $4 trillion and have nothing to show for it.  I mean nothing!


The latest report is depressing, as James Pethokoukis explains:

"Let’s run through some more of the December numbers to gain some perspective:  

14.4%: The U-6 unemployment rate, which includes a) part-timers who want full-time work and b) the discouraged who want a job but haven’t searched for work in the prior month because they believe no jobs are available. Same as November.
 
10.7%: The U-3 unemployment rate if the labor force participation rate were back to its January 2009 level, when President Obama took office.

 
10.4%: The U-3 unemployment rate if the labor force participation rate were at the 2012 level predicted by the Congressional Budget Office before the Great Recession. This assumes that as the US ages, the LFP will continue to decline.

 
And this ….

 
5.2%: The unemployment rate that Team Obama predicted for December 2012 if Congress passed the $800 billion stimulus."

That's a very bad report, specially coming almost 4 years after the famous stimulus that was supposed to build roads and bridges.

Sadly, Pres BO has one big advantage.  His political safety net are the "low information voters" or the people recruited by the campaign to make the difference.

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