Golf clap for Obama. In January of 2009, when he took office, unemployment was 7.8%. Now, after four years of Obamanomics which gave us 43 straight months of 9% plus unemployment along with a record exodus of Americans leaving the labor force, unemployment is still 7.8%.
From the NYTimes:
Despite their concerns about looming tax increases and government spending cuts, American employers added 155,000 jobs in December, about apace with job growth over the last year, the Labor Department reported on Friday.
The biggest gains were in health care, food services, construction and manufacturing, with the latter two probably helped by rebuilding afterHurricane Sandy. Government payrolls fell modestly once again, the report said. The unemployment rate was 7.8 percent, the same as in November, whose rate was revised up from 7.7 percent.
So if not for a natural disaster the unemployment rate would be much higher for Obamanomics.
“It’s not a home-run report by any stretch, but it’s constructive,” said John Ryding, chief economist at RDQ Economics. “It’s another month of fairly stable, solid, moderate job creation.”
It barely keeps up with the population growth which means the job market isn’t improving at all. Just the NYTimes using propaganda to assist Obama.
[…]Economists are unsure of what the rest of the year holds for the American job market, but most are forecasting more of the same: hiring fast enough to stay just ahead of population growth, but still too slow to make a sizable dent in the 12.2-million-person backlog of unemployed workers.
For almost 4 years, Republicans pointed out that higher taxes on job creators will slow growth and cost jobs. The NYTimes admits this…
[…]But Congress’s last-minute deal earlier this week to raise taxes will offset some of these sources of growth, since higher taxes trim how much money consumers have available to spend each week.
Three paragraphs from the bottom you finally get the truth. The reason the unemployment rate is dropping is due to the millions of Americans who have left the labor force. Under Obamanomics, the labor force participation rate is at a 31-year low. Shhhh, the low-information Obamasites don’t know this.
[…]Millions of workers are sitting on the sidelines and so are not counted in the total tally of unemployed. Some are merely waiting for the job market to improve, and others are trying to invest in skills to appeal to employers who are already hiring.