This Is Your Obama Recovery, June Edition: Holding Steady At “Awful”

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.

7 thoughts on “This Is Your Obama Recovery, June Edition: Holding Steady At “Awful”

  1. Thanks for reporting these numbers, Mitch. Does MSM have these numbers or do they simply “pre-spike” anything released by BLS?

  2. Stink,

    The MSM runs the unemployment and job creation numbers. But you rarely hear the workforce participation number – and I’m not sure anyone in the world but me actually follows through with deducting the unemployment rate from the participation rate.

  3. Maybe you’ve noticed that Obama is not claiming that it will get better.
    Adam Smith explained exactly why a low growth-no growth economy is bad for workers. He didn’t even use math. Of course Obama and his enablers don’t believe in Adam Smith.

  4. The economy created just 80,000 jobs in June, the Bureau of Labor Statistics reported Friday. But that same month, 85,000 workers left the workforce entirely to enroll in the Social Security Disability Insurance program, according to the Social Security Administration. The disability ranks have outpaced job growth throughout President Obama’s economic recovery.

  5. Terry, I was stunned to hear that bit of news earlier this morning, has it been covered by the MSM? I have my doubts.

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