Wow, what a stinker! I am referring to the November jobs report, on which the White House, along with the media lackeys, is attempting to put on a positive spin.
Here is the sad reality: The initial November jobs report lists a gain for non-farm employment of 80,000 jobs. This miserly gain is more than 35% below the 125,000 average monthly gain of the past 12 months. Since President Barack Obama took over, America has lost nearly 3 million jobs. At year-end 2008, non-farm payrolls totaled 134,383,000 jobs. The most recent report showed 131,516,000 non-farm payroll jobs, along with a startling 9% unemployment rate.
Yup, nearly 14 million Americans are on the well-understated unemployment roster. The unemployment rate for blacks is 15.1%, for Hispanics 11.4% and for Asians 7.3%. At the feeble 80,000 jobs gain rate logged in October, it would take 37 months, or more than three years, for non-farm payrolls to get back to the level witnessed when Obama first moved into the White House. Read