Bloomberg News (c/o Hot Air) reports that 193,000 more people have stopped looking for work in the Obama economy, taking 156,000 off the ‘Unemployed’ rolls. This has effectively diminished the news that payrolls added 117,000, an anemic, lateral shift in an employment picture that sees more people giving up than finding work.
But people bailing has it’s statistical advantages. With fewer unemployed on the books the rate of employment looks better, if you can call 9.1% better. Another problem? Debt management. With such a large percentage of the available work force idle, that’s a natural resource wasted.
Meanwhile, Jay Carney, White House Press Secretary, reminded us that the White House does not create jobs. It creates the conditions for job creation.
Yes it does…in China, India, Mexico, Brazil, just about everywhere but America.
But is that the real plan? After all, remember what joblessness means for the economy…(on the jump)