Debate This! Unemployment Drops Again
Hmmm, unemployment is the lowest it’s been in nearly 4 years. Wall street has doubled. The auto industry has been recovering quite well thank you, and the only major job reductions have been in Al-Qaeda. Oh yeah, there’s that whole health care reform thing that this country sorely needed.
Under the Obama administration, more jobs have been added in 4 years than in the entire 8 years of the Bush Administration. What a damned dirty, welfare promoting, godless Socialist Obama is! Not!
I suppose the jobs created numbers could be inflated: Just think of all the fact checkers needed for the Romney campaign.
Of course the right-winger are out there claiming the jobs numbers have been manipulated. Starting with Jack Welch, the former GE CEO who started shipping jobs overseas in the 1980′s. They just cannot stand it when reality conflicts with their alternate universe. I have a question for Mr Welch. If Obama can manipulate the jobs numbers why would he have waited so long?
All Welch is saying is what he would do in the same situation. Luckily for Mr Welch, a private company’s books are WAAAAAY easier to cook that the US government’s. (See: Enron… and about everybody listed on the Dow Jones for that matter)
LOL, if that were the case, he should have altered them around 2009, when the Teahad started warming up.
The conspiracy theory regarding the numbers was an unexpected treat for the week. Meanwhile, as the president has said, they is still a low way to go. I add …. even to get back to the pre-downturn employment levels.
This is true, there is a long way to go. It does look as though we’re going in the right direction though.
True … here one that addresses that point.
http://afrankangle.wordpress.com/2012/08/06/on-graphs/
All this confabulation just reminds me why I hate using the Unemployment Rate as a primary indicator. It’s a totally inaccurate way of assessing an economy.
1) It doesn’t include the number who have given up, which allows for a misleading assessment.
2) It doesn’t indicate if these jobs are even worth having. A million dollar a year job counts as much as a minimum wage job (even a part time min-wage job, if I’m not mistaken.)
3) There’s no accounting for whether or not these jobs can be used to support oneself, or one’s household?
To me, that might be the most important economic number out there. What percentage of people have jobs they can support themselves on?
These are very good points. It reminds me of Reagan beating his chest after a marked reduction in unemployment during one of his terms: which occurred soon after he got the minimum wage reduced.