Just as they blamed Obama for the recession, stock price drops and job losses during his first month in office, will they (i.e., the GOP and the Villagers) also heap upon him praise for numbers like this?
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[Embiggen]
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(THE GRAPEVINE
Ah, the famous 'bikini graph' recently showcased by Maddow. You're right, GOP et al will continue to scream about our various econ woes in spite of this.
I think the WH missed a big opportunity when the stim bill was being discussed: they should have made headline news of the projected job losses and econ slump if things remained untinkered with, AND under the 'tax cuts will fix most of it' scenario promoted by the right. Both of those graphs show an appalling and continuing downslope into this year and beyond (the former a complete free-fall into full-blown Depression). Complaints about 10% jobless rate are sensible only if one is ignorant of what a 20% jobless rate (or worse) looks like. Yes things suck, but the suckage has been tremendously mitigated by govt econ policy.
Krugman's book The Return of Depression Economics has a good lay-person-oriented discussion of what worsens this level of economic distress, with abundant historical examples to illustrate his points. It is a series of misteps that we have largely managed to avoid by virtue of Obama's econ policies. But the administration's failure to communicate economese into plain English on this point does not stand alone. One squawk I have about this administration is that they consistently fail to explain what alternatives (in any policy area) look like, clearly and simply, in a way that people can easily understand and relate to viscerally.
The only thing that these graphs show is how many unemployed workers are not being reported because they are out of benefits and hence called discouraged workers no longer looking for work. A better reference can be found when we compare the loss of jobs to the newly created jobs. The Republicans will blame everyone for their disaster because they cannot admit that their short sighted policies have caused this disaster.
Thank you schu
You get it.
Independent. Anything else is just another head on the same coin.
I remember making the same point during the Reagan administration. However his supporters explained to me that there could be no true accounting of said discouraged workers since there were no reliable statistics. Thus, as all should know, you cannot make a statement about unemployment in the current situation using different standards than you have used at any other time. Unemployment figures have never counted those no longer on the roles, and still has prooved a good indicator of whether the economy is heating up or cooling down. There is no reason to assume otherwise now, unless you lack the discipline not to allow your own agenda to influence facts.
People giving up looking for jobs doesn’t increase the number of people getting jobs. The graff shows that 300,000 people got jobs. So your post is irrelevant SHU.