Sunday, September 02, 2012

 

Dismal Chart of the Day

This was in the ever less read LA Times so it's probably not right wing propaganda. See how the unemployment peaks just above 10% and then meanders down to just above 8%, that decline is not the result of ever more jobs, it's almost entirely the result of people giving up the search. Therefore, they are not counted in the numbers of those employed or seeking employment. The number counted in the work force continues to decline since the start of the last recession. Indeed, the number of Americans in the work force is far fewer now than when President Obama took office.

In 2009, the number of people not in the workforce was 81,659,000. Now it's 86,828,000, according to government statistics. That's over five million Americans who could work but are not. If we counted the drop-outs and never-entered graduates, the unemployment rate would be around 11%.

The answer to President Reagan's question as a candidate (are you better off now than you were 4 years ago?) has to be in the negative for most people, both regarding employment and median income.

That's not so good for the President.

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# posted by Roger Fraley @ 8:05 AM
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