Yeah, wage growth stinks, and the labor force participation numbers are horrible but the reported unemployment rate is down to 6.1%. Probably in part because in June the Obama Economy shed 523,000 full-time jobs.
Sure, part-time jobs surged, but those are typically entry-level assignments or low-skill positions. That’s no way to run a recovery. But then, no one in DC is governing with the goal of having one, are they?
With this kind of ‘success’ the same math that verifies the theorem –if there were no jobs unemployment would be at zero percent– will continue to drive the reported unemployment number down further, even though fewer people will be working, and those that do will be the last hold outs in the Democrats part-time nation who have not given up and gone on the dole.
Democrats are proud of their June Unemployment numbers. They may even be excited about the ‘trend.’ Ask them to explain to you why they are so happy. Then ask them what is o great about losing over a half-million full-time jobs, just in June.
H/T Zero Hedge / PJ Media
