Obama Shrunk Private Sector by 8.5M Jobs
Did you know that the unemployment rate went up last month? They just announced that today. It went up from 7.8% to 7.9%. But the Drive-Bys are not reporting that. The Drive-Bys are all reporting the number of jobs created. That number, 157,000. They’re saying that the unemployment rate going up, that’s a statistical anomaly. It’s not really relevant. What’s happening out there is that despite the best efforts of the Republicans in December to crash this economy, despite the best efforts of the Republicans to kill this country with all their spending cuts in December, the president persevered and created 157,000 jobs.
That would be in January after Republicans tried to kill the economy in December. The president came through 157,000 jobs. Unemployment rate did go up, but you’re not supposed to pay any attention to that. You’re also not supposed to pay any attention to this. While 157,000 jobs are being created, 169,000 people left the workforce. Yeah, that got your attention, didn’t it? Gazing off watching CNN or something, and you heard me say that, and you said, “Whoa.” That’s right, 157,000 jobs created; 169,000 people left the workforce, meaning they stopped looking for work. In a recovery. They gave up looking for work. That means they are not counted in the unemployment numbers.
I know it’s strange, and on the surface it doesn’t make any sense. They’re out of work. But since they’re not looking for jobs, it is assumed that they don’t need jobs, and they may not. They’ve got their cell phones. They’ve got their flat screen. They’ve got the food stamp card, who knows whatever else. They’ve stopped looking for work. So they’re not counted. Labor force participation rate — you want a shocking number? This is from the Bureau of Labor Statistics. This is the regime’s own number. Since Barack Obama took office in January of 2009, 8.5 million Americans have left the labor force, including that 169,000 in January. One-hundred-sixty-nine thousand people left the labor force in January, just gave up looking for work. In total, in four years, 8.5 million Americans have left the labor force.