AshevilleApp wrote:Seems unemployment is a push. 5.8% in 2008 and 4.9% right now. Now underemployment rates may be a lot higher now, I don't know.
Chizzang wrote:
Unemployment - PUSH (hit low in 2009 crash)
You think it is a push because you're looking at the U3 that the govt puts out that in reality that is nothing more than a shell game. In reality the employment situation is abysmal. The govt can claim that it is under 5% only because millions have dropped out of the workforce. In June we have 158,880 million counted for the labor force, with 151,097 million working, 7,783 million not working, 4.9% U3 unemployment rate. On paper to the simpleton masses looks good- 4.9%- who hoo!!...
http://www.dlt.ri.gov/lmi/laus/us/usadj.htm
In reality...
Unemployment 7 1/2 years under Obama.
"..When President Obama took office in January 2009, 80,529,000 Americans were not participating in the labor force; since then, 14,179,000 Americans have left the workforce -- .."
The labor force participation rate of 62.6% in May is at a 38 year low..Was 65.7% when Obama took office.
http://cnsnews.com/news/article/susan-j ... rate-drops
Now add the 14.179 million that have dropped out of the workforce. Would = a labor force of 173.059 million. With the same 151.097 million working, 21.962 million not working, 12.7% unemployment rate.
If 7.783 million more people dropped out of the workforce, we could have on paper ZERO percent unemployment. Yet our labor force participation rate would be even worse than it is now, and our employment situation would be horrendous, even with on paper zero % unemployment.
GDP GROWTH 7 1/2 years under Obama we have avg about an abysmal 1.47% annual.
2009: -2.8%
2010: 2.5%
2011: 1.6%
2012: 2.3%
2013: 2.2%
2014: 2.4%
2015: 2.4%
2016 Q1 1.1%
http://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG
NATIONAL DEBT 7 1/2 years under Obama. We're on pace to nearly double our national debt. Was about 10.6 trillion the day Obama took office. Pushing 19.4 trillion now. It is spiraling out of control, and has gotten to the level where we will never see it pay off in our lifetimes, or our kids, and eventually won't even be able to afford to pay the interest on it along with everything else.
But the market is up! That's the only thing economically Obama can hang his hat on.
Obama's foreign policy has been a disaster. You could write books on that..