January 11, 2014
The official unemployment rate has become a joke, what with massive numbers of people dropping out of the workforce and therefore becoming invisible. The latest report of a decline in unemployment in the face of a pathetic 74,000 new jobs indicates the uselessness of the figure.
Fortunately, the editors of Investor’s Business Daily have come up with their own indices, and they are well worth a look. For example:
6.3 million: Net new jobs created since Obama’s recovery started in June 2009
13.8 million: New jobs that would have been created had Obama’s kept pace with the average of the previous 10 recoveries.