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The Job Market Still Stinks

We haven't seen what a real recovery looks like since the recession as officially defined ended 39 long months ago. Despite September's unemployment rate drop:

  • That rate has been 7.8% or higher during every single month of Obama's term, something not seen since Franklin Delano Roosevelt's New Deal extended the Great Depression for eight dreadful years.
  • During Obama's first and hopefully sole presidential term, seasonally adjusted full-time employment reported in the Household Survey has contracted -- by 604,000 through September. Meanwhile, part-time employment has ballooned by over 1.5 million.
  • In the Establishment Survey, even after considering a pending and preliminary adjustment to total employment of an estimated 386,000 for the 12 months ended in March, the nation's economy has only added 325,000 jobs since Obama took office. The increase in the number of jobs at temporary help services during that time (570,000 before the pending adjustment) has been far greater.
  • In the "What have you done for us lately?" department, seasonally adjusted job growth per the Establishment Survey has averaged only 106,000 per month during the past six months, while monthly private-sector job additions in August and September averaged only 100,000.
  • Meanwhile, the Household Survey tells us that every single job added and then some during the past six months (819,000) has been part-time, while full-time employment has dropped by 64,000. Taxmageddon and ObamaCare are already exacting a heavy price.

As to the conspiracy theories, to believe them you'd have to buy into the idea that the BLS's compilers deliberately showed the contractions seen above in Household Survey employment in July and August, allowing President Obama to continue to get hammered during all of August and September over his administration's then-unbroken streak of 43 months of 8%-plus unemployment, and then opened the floodgates on October 5, just 32 days before the election -- after the travesty of early voting has already begun in some states -- to finally get the rate below 8%. Really?

That said, it's hard to totally blame those who see a conspiracy, simply because this administration, by far the most callously and pervasively dishonest in my lifetime, has given critics so much fodder in so many other areas. To name just a few:

  • Its lethal, reality-denying decision-making in Libya and the Middle East, leading it to ramp down and deny adequate security protection to Americans in dangerous situations when it clearly should have been increased.
  • Its craven yet still unadmitted willingness to flood Mexico with guns which could only be "traced" after their murderous use.
  • Its open political favoritism in "green jobs"-related loans and grants.
  • Finally, in a brazen repeat of what occurred during the 2008 presidential campaign, the president's campaign has again "chosen not to use AVS (Address Verification System) in screening contributions made by credit card," potentially (i.e., more than likely) "accepting contributions from phony names or accepting contributions from foreigners, both of which are illegal."

This horror show on virtually all fronts can't end soon enough.

More: Tea Party Congresswoman: Labor Stats Speak for Themselves, Cooked or Not