The “real” unemployment rate rose from 13.6% in September to 13.8% in October, according to figures released today by the Bureau of Labor Statistics (BLS).
...Known as the U-6 unemployment rate, this “real” unemployment figure, seasonally adjusted, includes the unemployed “plus all persons marginally attached to the labor force, plus total employed part time for economic reasons..." The U-6 rate captures the fuller picture of people who are willing and able to work, but cannot find a job.
Since President Barack Obama has been president, the U-6 unemployment rate rose from 14.25% in January 2009 to a high of 17.1% in October, November and December 2009 and the same rate in February, March, and April 2010. The U-6 rate did not fall below 14% under Obama until March 2013, when it hit 13.8%, the same rate for October 2013.
Even more shocking, the Labor Force Participation Rate dropped yet again, this time to 62.8 percent.
This is the lowest it's been since 1978, when another feckless Democrat named President Jimmy Carter was running things.
Let me recycle this graphic from 2011... because, sadly, it's still relevant:
Arithmetic always trumps ideology. Sadly, Barack Obama has proven himself incapable of learning this simple, immutable fact.
He's a dyed-in-the-wool, radical progressive -- a true believer. Collectivism is his religion and if it means destroying America to impart his wisdom, then so be it.
Hat tips: Weasel Zippers and Badblue News
What does it take for the progress-O-turds and libtards to learn that they made a galaxy class bad choice when they voted in the Kenyan Kommie Klown not just once but twice?
ReplyDeleteAlso it sure would be nice if the House RINOs got off their duffs and started impeachment proceedings against everyone in the regime and those who were in the regime.