The jobs numbers came in this morning with the unemployment number dropping to 9.1% with 117,000 jobs gained. Hosannas rang out in the land of liberal media.
However, before you get jazzed about our economy, take a look at the real numbers.
People leaving the unemployment rolls, either because they got discouraged or because they hit their maximum week count, rose by 374,000. That was a big spike, rising from 982,000 to 1.119 million, a rise of 14%. If you put them back in the number, it stays about 9.2% and no jobs were created. If you strip out the seasonal adjustments such as teachers going back to work, the total jobless actually rose to 1.23 million.
Additionally, we’ve hit a record number in the average it took the jobless to find employment. Now an unemployed person can expect to wait 40.4 weeks before finding a job. In June it was 39.9 weeks.
Another reason today’s number is deceptive is that labor force participation came in a the lowest since 1984, at only 63.9% of our citizens employed.
Our civilian population rose by 182,000 while the labor force declined by 193,000. That’s not on the plus side.
Obama’s comments on today’s report blamed – once again – the earthquake/tsunami in Japan and the Arab Spring. The first excuse is a tired, flimsy one and the second is incomprehensible spin.
And who’s to say that the number won’t be revised downward? The administration has a habit of doing that.