American Elephants

Jobs Gained in Presidential Administrations Since 1948 by The Elephant's Child

Good graphic representations can clarify those things which plain words can often not make clear. This one is pretty self-explanatory. Obama keeps claiming that he has created 4.1 million jobs, but that works only if you don’t subtract the jobs lost. There are, I believe, 125,000 new workers (young people, immigrants,) added to the work force each month, so you have to subtract those too. Which makes yesterday’s reported 163,000 jobs look even worse. Real unemployment is up around 15%. The 8.3— U3 rate only includes those actively looking for work, not those whose unemployment has run out.

Didn’t have to be this way.

There Has Been No Progress On Unemployment In the Past Two Years. by The Elephant's Child

If you turned on the radio to news today, you heard enthusiastic commentators announcing that payroll employment rose by 200,000 in December, and the jobless rate trended down at 8.5%.  Don’t get excited. Most of the jobs were in retail.  And the drop in the jobless rate simply reflects the fact that the size of the labor force dropped because 315,000 people quit, dropped out or ended their unemployment benefits.

The economy presumably resumed growth two years ago, there are around 24.4 million people out of work or underemployed.  Employment remains 6.3 million below its level in December 2007 when the recession began. The broader measure of unemployment that includes people who want to work but have stopped looking, and those who are working part-time, but want more work is at 15.6 percent.  There should be more people looking for work.

The administration has been trumpeting the 200,000 figure, ignoring the larger number who dropped out of the labor force— essentially eliminating any real growth. There has been no progress on unemployment in two years’ time. 

If the size of the labor force was as large as it was when Barack Obama took office, the unemployment rate wold be 10.9 percent.

What matters are the job-destroying  actions of the Obama administration. The regulations keep pouring out, the attempts to shut down anything connected with fossil fuels continue apace. Encourage your Congressmen when they vote to prevent this.  We can’t just complain all the time, though that seems to be what I do day after day.

Bill Whittle Summarizes President Obama’s Accomplishments at Halftime. How’s He Doing? by The Elephant's Child

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