About Those Unemployment Numbers

They’re not what they seem.

According to the January jobs report, the unemployment rate fell to 8.3 percent from 8.5 percent. That’s the lowest rate since February 2009. The economy added 243,000 jobs. That’s the most since April 2011.

Cue the champagne.

Well, actually not just yet.

What the Obama Administration isn’t tell you. And face it, what they’re not going to tell you, is that while that’s the official rate some 1.2 million people dropped out of the job search.

That means that many people STOPPED LOOKING FOR WORK, because there are NO jobs.

Not only that, according to the Bureau of Labor Statistics the percentage of working age American civilians still employed fell to just 63.7% — the lowest percentage in 30 years.

I might add that 30 years ago, we were still reeling from the effects of the Jimmmy Thank-God-I’m-No-Longer-The-Worst-President Carter administration.

The similarities are remarkable. Sadly, this time there’s no Ronald Reagan waiting in the wings.

But when the President tries to tell you he’s putting America back to work, remind him that it just ain’t so.

H/T Bearing Drift: Behind the unemployment numbers: an historic drop in the number of people in the labor force

And The American: Why the official 8.3 percent unemployment rate is a phony number—and what it means for Obama’s reelection

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