WIth a (as yet unrevised) job number of around 80K – a fraction of what’s needed to meeting population growth – the unemployment rate held steady at 8.2% with this morning’s Bureau of Labor Statistics numbers.
But the actual Labor Force Participation Rate also held steady at 63.8%.
That means the actual percentage of the work force that’s actually working – that 63.8% of people between the ages of 16 and 65 that are working, or trying to work, and haven’t been out of work for longer than a year, and less all of the unemployed – is actually 58.57%.
- That’s two points lower than when Barack Obama took office.
- Thats 7/100 of a percent better than in October of 2009, when unemployment peaked at 10%.
- It’s half a percentage better than when participation bottomed out two months later, in December of 2009. Which was a very brief downward spike, by the way – with rates in general being right about where they are today. Equal to the worst rates at the “bottom” of the recession.
- That’s almost five points lower that the best rate under the Bush Administration – and two and a half points lower than the worst rate Bush had (as he left office). A fairer comparison? Its 3.5% worse than the bottom of the rate during the post-9/11 recession.
Face facts, America. There is no recovery. Obama’s “economic policy” is a joke.
If America votes for four more years of this, it deserves what it gets.
Update: It’s worse if you’re Hispanic.
Update2: And worse still if you’re black.