The Bureau of Labor Statistics (BLS) issued the jobs report for August and it was not pretty.
Only 142,000 jobs were added in August and the unemployment rate dropped slightly from 6.2% in July to 6.1%. The unemployment rate only shrank because the civilian labor force dropped by 64,000 people and the Labor Force Participation Rate dropped to 62.8% from 63.2% a year ago. While 142,000 people found jobs, 204,000 people were added to the civilian non-institutional population so job growth didn’t match the needs of the rising population.
I’ve said this before but I’ll say it again – The Obamanomics “recovery” hasn’t come close to the type of recovery that was to be expected from a deep economic recession and month after month the BLS and GDP data back this up.
But enough about the facts, let’s see how an Obama loving economist, Justin Wolfers, spins the news.
He started out with a bold prediction:
Then he reports the dismal numbers:
Which is followed by his move to full shill mode:
Let’s blame noisy data:
Hey, it’s better than 5 years ago:
It could be worse, no really it’s not that bad!
This is no fun, let’s switch to bashing the Koch brothers:
Obama shills are going to shill and there is just no getting around it. In the mean time the US economy wastes another month of precious time and the promised ‘big recovery’ appears to have passed us by.
This pitiful ‘recovery’ should not be a surprise to anyone. What do you expect after 5-1/2 years of higher taxes, more government regulation, Obamacare, crony capitalism, increasing government debt, record government spending, exploding entitlement programs and increasing unrest/turmoil across the globe?
We have 2-1/2 more years of this ‘recovery’ before America hopefully wakes up. I hope there is something left saving in 2017.