More Bad News On the Job Front

by Pejman Yousefzadeh on December 2, 2011

Yes, the unemployment rate slipped to 8.6%, and 120,000 jobs were created, but the story rightly calls the number of jobs created “weak,” since it does not even keep up with population growth, and the reason the unemployment rate fell is that the labor force participation rate fell, meaning that a number of people simply gave up looking for work.

This means that once we get past the surprise of having the unemployment rate fall below 9%–and it is a measure of just how bad the jobs situation is that a fall below 9% counts as a “surprise”–we are still left with a nasty jobs picture. And that means–among other things–a nasty political picture for President Obama, as he heads into the 2012 election cycle.

  • http://nicholas-whatthe.blogspot.com/ nicholas

    Not at all.  The jobless rate falling below 9% is sure to be portrayed as a marker that the presidents policies are taking effect, and that the economy is recovering.  As you well know, it will be said it has taken longer than expected, but only because the president had not been informed on how really bad it was until he took office and had opportunity to exam the extent of economic deterioration over the eight years of the Bush presidency.   

    And if you think the president’s all wet, you’re probably a racist.  Unless of course you have some success arguing against him, in which case your sealed divorce files will be opened, SNL skits will you claim you said you can see Russia from your porch, a discovery will be made of a summer camp with the word n*gger scrolled some place, or some woman will claim she has had an affair with you.  The results of which will be for us to collectively throw up our hands and complain about our rotten candidates, never once having the guts to throw it back in their face.

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