I don't know about you, but I thought we all elected Obama to solve the unemployment problem. He certainly talked as if he knew how to do just that -- in spite of the fact that he had absolutely no training in this regard. The promise was not for sub-8% unemployment. No, it was for 5% unemployment. Is the August report headed for 8.7% unemployment?
The Obama Promise and “Plan” versus Reality
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Before you click to enlarge, your assignment is to locate July, 2012 on this chart, as noted in the chart’s body. Forget about the “not going above 8%” promise. He promised us that unemployment by this time in his term, would be 5% -- THAT is was the promise.
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Is Gallup [below] telling us that the seasonally adjusted unemployment rate for the August report is going to be 8.7 ? I do know that as of this week, 44 states are reporting increased unemployment rates -- 44 out of
If this is the case, this might be the reason:
8 million folks have left the workforce, altogether, since Obama has taken office. We are at the lowest rate of workforce participation in decades. Understand that once a person stops looking for work, she is no longer counted in the "unemployment" statistic. They are taken off the "unemployed roles" making it appear that "unemployment" is easing. But the fact of the matter is this, these folks have moved back in with their parents or friends, are working in the "American underground" [good for them], have retired or are claiming disabilities insurance.
I am thinking that a number of these folks are, once again, actively looking for work and, thus, are being counted as "unemployed." They were always there, but now, they are again being counted and that gives us this present increase.
Anyone still think this country is "headed in the right direction?"
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