Isn't it interesting that as the November elections creep upon us, that the unemployment numbers seem to marginally improve. Today's unemployment rate is being reported to have dropped by a 10th of a percentage point to 8.1%. This is fools gold however. Only 115,000 new jobs were created in the month of April. This number is outright pathetic. It was such a bad number that stocks have reacted very negatively on the report. As of this writing, the Dow Jones industrial average is down 115 points. By any measure this is not good.
The big question that has not been asked is this. Why, if we are in a recovery and jobs are being created, has the LFPR number not cratered. Perhaps part of this is that baby boomers are beginning to retire. But one must, even with that pressure, wonder why the LFPR rate is STILL declining at the rate it is. Some of those losses should be mitigated by people going back to work.
The other thing is the fact that net job creation during Obama's tenure is still at negative 1.6 million jobs. When you put this all together, it seems that there is some major manipulation going on with regards to the unemployment rate.
In contrast to Obama's number of 1.6 million lost jobs under his watch. Ronald Reagan, who inherited a horrible economy in recession, created more than 6 million jobs during his first four years in office.
There is no way around this one. Obama's record on jobs is horrible.
From the Point of View of a Red State American
Friday, May 04, 2012
The Unemployment Numbers Game
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