WHERE ARE THE JOBS, MR. PRESIDENT?

The unemployment rate went down only because millions of people simply gave up looking for work and dropped out of the workforce all together.

JOBS, JOBS, JOBS
By Monica Crowley

politicalmavens.com
February 23, 2012\

“Where are the jobs, Mr. President?” So wailed then-Speaker Nancy Pelosi when the unemployment rate was about 6 percent toward the end of President Bush’s term.

Different president, same question. Only in Obama’s case, staggeringly high unemployment, routinely over 9 percent, for years on end. And when the rate did drop, it was only because millions of people simply gave up looking for work and dropped out of the workforce all together.

Today, Gallup reports its latest unemployment findings:

“The U.S. unemployment rate, as measured by Gallup without seasonal adjustment, is 9.0% in mid-February,” Gallup said in its mid-month unemployment survey, released on February 17. “The mid-month reading normally reflects what the U.S. government reports for the entire month, and is up from 8.3% in mid-January.

“Gallup said the Bureau of Labor Statistics (BLS) would likely report a rise in the official unemployment rate in early March, when it publishes its February figures.

“Gallup’s mid-month figures are not seasonally adjusted, and so may not predict the official unemployment rate precisely. However, because Gallup and BLS both conduct their unemployment surveys at the same time - in the middle of the month - Gallup’s early figures can provide a barometer of where the official rate is likely headed.

“The survey also found that “underemployment” - those unemployed and those working part-time because full-time jobs are unavailable - rose to 19 percent, up from the 18.7 percent Gallup found in January.

“Gallup said its report reflected a continuing trend of weakness in U.S. labor markets, marking a “sharp deterioration” in job market conditions.”

In other words, the jobs picture is not improving, 13 million people remain out of work, and Obama’s policies are as destructive as ever.

Where are the jobs, Mr. President?