That’s the real headline from today’s unemployment report, but Mainstream Media is glorifying the news that
the 315K that have given up looking for work causes the unemployment rate to go from 8.9% to 8.6%.
On the good news side, there were a net 120K jobs created in November, but it’s Christmastime. Additionally, August and September job numbers were revised upwards.
But this news fizzles when the monthly job creation needed to keep up with population growth are 125K per month.
Let’s take a look at employment numbers comparing Bush’s two terms, 9/11, the advent of the Democrat Congress, and Obama’s first term.
A liberal would explain that the high employment rate of Bush years was a result of the policies of Bill Clinton, and the low employment rate of the Obama years is a result of the Bush policies.
I have always posed that the economy tanked largely when it became apparent that the Democrats had taken over Congress and were going to get the Presidency as well. Business planners knew the high tax, high spending, regulation fiasco was on the horizon.
When it becomes apparent that
Republicans Conservatives will re-take the Senate and the Presidency, watch for the economy to start soaring again.