The new monthly jobs report states that unemployment went down to 8.1%, which would be cause for rejoicing in the streets, except for the reason for that decline:
Disappointed people simply dropped out of the labor force!
In other words, they’re so over the whole unemployment thing they’re not even going to look for work anymore!
And unemployment numbers only include those who are actively seeking a job.
That’s horrific–a truly rotten way to get unemployment statistics down.
In other figures, 96,000 new jobs were created, which is not devastating, but nowhere near as many as was hoped.
And the whole thing leaves a sadly poignant twist to last night’s DNC speeches, which were ecstatic reveries about how far we’ve come in four years!
The reality is the country is still in a deep, depressing economic well, and drastic measures are going to have to be taken.
I’ll stay with Obama/Biden, though.
With Romney/Ryan, we’d go totally over the cliff, so don’t count me in their statistic.