Barack Obama's minions will crow BO's economy is improving, the unemployment rate dropped to "only" 8.1%. The real reason for dropping unemployment is not so rosy.
People are giving up looking for work.
Even BO's pet Associated Press is reporting the real loss in employment. Perhaps they are tired of covering for their boss. For example, Christopher S. Rugaber, an Associated Press economics writer wrote:
- The unemployment rate declined in August, but for a bad reason: The government doesn't count people as unemployed if they've stopped looking for a job.
- The number of people working or looking for work shrank in August by 368,000, the government said. The reasons vary, economists say.
- Many people, after months of looking for a job without success, give up. But this group of "discouraged" workers doesn't fully capture the phenomenon.
- New parents, for example, may quit a job to focus on raising children. (Baloney reason -- There is no special reason why birth rates should peak now)
- An older worker who's laid off may claim Social Security benefits instead of looking for a new job. (There is no special reason why that should peak now.)
- And there's also a demographic shift underlying the trend: Baby boomers are retiring. (But there still is no special reason why that should peak now.)
Paul Wiseman, another AP economics writer, makes an unintended funny remark: "It's the first time since World War II that governments have shed jobs this deep into an economic recovery." I expect they'll find his body floating down the river any day now.
Barack Obama has tried to cripple the free economy since he was elected - and in that sense his programs are working. BO has sought for and gotten higher taxes on employers for employing people -- notably ObamaCare/Tax.
Barack Obama also sought for and got more regulations placed on industry for employing and producing. Barack Obama primary methods have been pointless regulation by the EPA and OSHA.
My neighbor, a one-man corporation has been ordered by OSHA to conduct weekly safety meeting with himself, thanks to Barack Obama.
I hope we root out the root cause and fire Barack Insane Obama in November.