Wednesday, September 19, 2012

The Obama recovery is rapidly descending into the Obama recession

The Obama recovery is rapidly descending into the Obama recession

 


There simply was no good news in today’s jobs report. June and July job creation was revised down a total of 41,000. The manufacturing sector lost 15,000 jobs. If the size of the U.S. labor force rate had stayed the same as last month, unemployment would have risen to 8.4 percent. If the same number of Americans were looking for work today, as were looking for work when Obama came into officer, unemployment would have risen to 11.2 percent.
In fact, as the chart below shows, the U.S. economy actually lost jobs according to the survey the Labor Department uses to calculate the unemployment rate. And not for the first time. The U.S. workforce has declined for each of the last two months as has the number of employed Americans. The Obama recovery is rapidly descending into the Obama recession.


http://washingtonexaminer.com/article/2507332#.UEtfOhjgLq1

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