Friday, October 03, 2014
Obama's economic improvement fallacy
The economy supposedly added 284,000 jobs in September dropping the "unemployment" rate by another 0.1%, a number Obama will no doubt crow about in fundraising speeches this week. But 315,000 people threw up their hands and stopped looking for work in September also, further plunging the depths of non-work labor participation to 40 year lows.
Only Obama can spin that many people abandoning the search for work in favor of welfare and perpetual unemployment, as a win for the economy and his wise stewardship of it.