Obama’s Jobs Hole

Obama’s Jobs Hole

January 13th, 2010

By Christopher Chantrill, American Thinker

 Obama has overseen a precipitous drop in employment

The Bureau of Labor Statistics released the December employment report on January 8, and the mainstream media reported that 85,000 jobs were lost. The big story, as usual, was in the Household Survey. There was no mild leakage of 85,000 jobs there, but a whopping 589,000 jobs flushed down the drain.  Here are the numbers from the Bureau:

                                    |    Total        |     Change

Civilian labor force ….| 153,059,000|    -661,000

Employment ………….| 137,792,000|    -589,000

Unemployment ………|  15,267,000|     -73,000

Not in labor force …..|  83,865,000|     843,000

These are the numbers used to calculate the unemployment rate. Note the reason why the rate didn’t skyrocket. A total of 661,000 people dropped out of the labor force in one month. Don’t think that things are going to get better any time soon.

But let’s look beyond the numbers to the trends, also available from the Bureau of Labor Statistics. This is where things really get scary.

Employment in the U.S. is now down from the peak of 146.5 million reached back in November 2007. That’s a loss of 8.5 million jobs in two years.

Thank goodness the mainstream media has not made invidious comparisons to the Bush recession of 2001-02. Back then, only 2 million jobs were lost, a mere scratch compared to the gaping wound in jobless Obama America. You can see why knowledgeable people speak of 2009 as the year the locusts ate. What was President Obama doing flogging health care reform for a whole year when his policy should have been — from noon on January 21, 2009 — jobs, jobs, jobs?

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