So, What of Those Jobs Saved or Created?

polifrog



CNBC:

The US economy created no jobs and the unemployment rate held steadily higher at 9.1 percent in August, fueling concerns that the US is heading for another recession.

It was the first time since World War II that the economy had precisely net zero jobs created for a month.

Jobs. None created. And as William A. Jacobson (Legal Insurrection) notes the jobs picture is much uglier than our flat 9.1 unemployment rate.

I have posted before about how the shrinking workforce tends to mask just how bad unemployment really is because people who have given up hope and stopped looking are not counted in the most widely cited calculation.

So the news yesterday that the unemployment rate held steady at 9.1% with zero net job growth actually is worse than it seems.

Obama economic policies have created a reservoir of untapped unemployment that will keep our nation's unemployment numbers menacingly high for the Obama Administration long after the economy overcomes the weight of governance and once again begins to expand.

Obama the candidate ran beyond the minutia of measured results; he ran as a transcendent persona upon which one could pin their own "hope and change". However, victorious politicians can run such a campaign only once, as a successful bid leads to office and holding office leads to the minutia of measured results. In this case. 9.1% unemployment as far as the eye can see.




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