Saturday, July 5, 2014

Hows that 'Jobs Pivot' Working out?

Obama's done the job pivot thing so many times he should be falling down dizzy. According to the new jobs report for June things are looking up. We added 288,000 jobs and the unemployment rate dropped to 6.1%. As always I'm sure these will be revised in the next week or so but that doesn't stop some of Obama's cheerleaders from gushing over the news.
Of course they ignore the other side.

Record Number of Americans Not in Labor Force in June
( - The number of Americans 16 and older who did not participate in the labor force climbed to a record high of 92,120,000 in June, according to data from the Bureau of Labor Statistics (BLS).
This means that there were 92,120,000 Americans 16 and older who not only did not have a job, but did not actively seek one in the last four weeks.
That is up 111,000 from the 92,009,000 Americans who were not participating in the labor force in April.
In June, according to BLS, the labor force participation rate for Americans was 62.8 percent, matching a 36-year low. The participation rate is the percentage of the population that either has a job or actively sought one in the last four weeks.
In December, April, May, and now June, the labor force participation rate has been 62.8 percent.
Before December, the last time the labor force participation rate sank as low as 62.8 percent was in February 1978, when it was also 62.8 percent. At that time, Jimmy Carter was president.~snip~
That reflects a huge number of Americans who have become so disillusioned and frustrated with job prospects that they have given up completely and as their unemployment benefits run out they just drop from sight. At least as far as being included in the jobs report.
I would think that anyone with a brain would know that employment prospects are pretty dismal and anyone who remembers the Carter years would be going through deja vu.
Things ain't as rosy as Obama's defenders want you to believe.
If you accept the spin then you won't believe your lying eyes.

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