Jobless Rate Has an Upward Trajectory in the Obama Adminstration

I guess that’s how Obama can say “It worked:

Economy Creates 163,000 New Jobs but Rate Rises to 8.3%

The U.S. economy closed out an otherwise weak second quarter by creating more jobs than expected, with 163,000 new positions added, but the unemployment rate rose to 8.3 percent.

By that measure, his magic healing pawprints on the U-6 dynamic is FUUUUGLY:

‘Real’ Unemployment Rate Shows Far More Jobless

While the national unemployment rate paints a grim picture, a look at individual states and their so-called real jobless rates becomes even more troubling.

…The numbers in some cases are startling.

Consider: Nevada’s U-6 rate is 22.1 percent, up from just 7.6 percent in 2007. Economically troubled California has a 20.3 percent real rate, while Rhode Island is at 18.3 percent, more than double its 8.3 percent rate in 2007.

Those numbers compare especially unfavorably to the national rate, high in itself at 14.9 percent though off its record peak of 17.2 percent in October 2009.

Only three states — Nebraska (9.1 percent), South Dakota (8.6 percent) and North Dakota (6.1 percent) — have U-6 rates under 10 percent, according to research from RBC Capital Markets.

Election battleground states paint a picture not much more flattering. Florida’s U-6 number is an ugly 17 percent, though Pennsylvania and Ohio are both around 14 percent, below the national U-6 average.

Living the Hope and Change dream.

Yeah, baby.

ths update: Just for shits and giggles, let’s walk down Memory Lane, while humming “Promises, Promises!”

2 Responses to “Jobless Rate Has an Upward Trajectory in the Obama Adminstration”

  1. Gary from Jersey says:

    Those are Depression-level numbers, yet people still back Obama and the Democrats, the very people who caused this. Menken was right: you won’t go broke underestimating the public.

  2. JeffS says:

    Hell, Gary, Menken stole that from PT Barnum.

    Which makes it no less true. And regrettable, with those same people poisoning their own well.

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