Friday, August 3, 2012

"It Worked"

So the new labor numbers are out this morning, and they're quite indicative of the Miserable Failure in office.  The UE3 number (which is much more generous to the sitting president) was 8.3%- that's 42 straight months of official unemployment greater than 8%.  Hiring was up though, 163K "new" jobs added.  So that must mean the labor force expanded, yes?  No.  Labor force shrunk.  Manufacturing down.  Household (as opposed to "payroll") jobs down almost as much as payroll jobs were up.  And last month's new jobs number revised down.  GDP Growth was 1.5% in Q2.

But this is Barack Obama's definition of "it worked."

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