If indeed there were five million private sector jobs created over the past four years, then why is the unemployment rate so much higher today than it was when he first took office?
The most recent jobs report issued by the Bureau of Labor Statistics (BLS) showed the unemployment rate in the US dropping below 8% for the first time in 3 years. What the BLS failed to acknowledge was that this drop in the unemployment rate was a statistical aberration, in large part due to one state’s failure to make its unemployment statistics available. This is the final BLS report before Election Day and isn’t it convenient that this one state’s failure to provide unemployment data would make the unemployment rate appearing to be lower that it actually is? Expecting that the unemployment rate has dropped by .3% in an economy that’s at or below 1.3% GDP growth is in the same ballpark as believing that pigs can fly. For a real look at how Obama’s economic policies have worked, the graph released by the BLS is a visual telling of the President’s failures.
