Okay, so can we finally acknowledge what the job numbers really and truly are? Of the 800 thousand plus households polled in the so-called “family survey”, most are underemployed. This means they have taken any part-time work out there to pay the bills. This also mean that folks with once sought after qualifications are helplessly adrift on the “Obama recovery” ocean. This brings me to my next point.
Every credible economist not on the Obama Campaign payroll will tell you, we must create North of 200,000 new full-time positions just to keep up with the rate of college graduation and population demographics. The U.S. economy created less than 120,000 jobs last month, and has been right around that number consistently for months now. This brings me to my last and probably most sobering stats.
More than 600,000 Americans who are able to work have simply given up and left the job market, lowering the percentage of labor force participation, an index measured by you guessed it, the federal government, from about 66.2 when President Obama took office to 63.6 percent now. When these hard figures are calculated back into the jobless numbers, which are actually a reflection of the “family survey”, the real unemployment numbers look more like about 13.9 percent.
So you tell me… Who is lying to who Mr. Axelrod??