O’s Unemployment is a Disaster
Some people think that the unemployment rate today going up to 9.2% pretty much means that there’s no way a responsible Republican leader would cave, with the unemployment news continuing to be bad, therefore Obama’s policy obviously being destructive, there is no way, Rush, don’t worry about it, Rush, there’s no way a responsible leader’s gonna cave, that 9.2% unemployment figure’s a game-changer. What do you mean? It just went up one-tenth of a point. Why wasn’t 9.1% a game-changer? What, on Thursday they’re talking about possibly caving so go from 9.1 to 9.2, well, that takes the cave off the table. A lot of wishful thinking going out there.
This is the Wall Street Journal: “The unemployment rate increased to 9.2% in June, the Labor Department reported, but if the recession hadn’t pushed so many people out of the labor market it would have been much worse. The duration of unemployment continues to increase and sat at an average of 39.9 weeks in June. More than four million people who want jobs, or nearly a third of the unemployed, have been out of work for more than a year. Those are the people are hanging in and looking for work, but a large number have given up altogether. The share of the population in the jobs market, called the labor-force participation rate, fell to 64.1% last month — the lowest level since 1984 when women were still just beginning to enter in full force.”