President Obama and his permanent campaign staff at the White House are likely in a state of euphoria with the news that our nation’s unemployment rate has dropped four-tenths of a percentage point to 8.6 percent. The Obama Administration probably thinks things are improving with the latest numbers, but the American people know better.
According to the latest Gallup report, underemployment currently stands at 18.1 percent, up from 17.8 percent last month. A year ago underemployment stood at 17.2 percent. Gallup states that “Many employers appear to have chosen to hire part-time rather than full-time employees for this holiday season…Gallup’s underemployment data suggest that today’s employers are increasingly relying on part-time employees who would prefer to work full time…The unemployment rate appears to have improved over the past year largely because Americans are taking part-time work when they can’t get full-time jobs.”
Sadly, out of the 35 months Obama has been on the job, the still-exorbitantly high 8.6 percent jobless rate is tied for the 3rd lowest of his presidency (Jan ‘09 – 7.8 percent; Feb ‘09 – 8.2 percent; March ‘09 – 8.6% percent). When you consider the incompetence of the Obama Administration on economic issues, this shouldn’t be surprising. This is the same administration that promised that unemployment wouldn’t go above 8 percent on its watch with the stimulus. America has been above 8 percent unemployment every month except for President Obama’s first month in office. That is not a jobs record; it is a record of ineptitude.
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