Obama campaign’s phony jobs numbers
posted at 2:42 pm on August 8, 2012 by Howard Portnoy
Numbers don’t lie—unless they are furnished by the campaign to re-elect the president. You can see this for yourself by visiting the interactive graph at www.barackobama.com/jobsrecord. It tells you everything you need to know about President Obama’s job creation record—except the truth.
For starters, place your cursor of any of the red or blue bars to see the number of jobs that were lost by or added to the economy for any given month. Take as a case in point January 2012, the administration’s best month for the year to date. According to the campaign website, 277,000 jobs were added. But the Bureau of Labor Statistics jobs report for January indicates that 243,000 jobs were added. It’s still a respectable gain, just not as respectable.
But the numbers get dicier. Take June of 2010. The president’s graph would have you believe that the economy grew by 92,000 jobs, while the BLS jobs report for the same period shows a decline of 125,000 jobs.
Perhaps not surprisingly, the discrepancy between the Obama campaign’s jobs numbers and the BLS report works in reverse during the Bush years. According to the campaign website, the economy bled 294,000 jobs in August of 2008. Not so says the BLS report for the same period, which shows a loss of 84,000 jobs.
You can move your cursor to any month you like, but don’t expect the result to be any different. Don’t expect to find any data on unemployment either. That one is simply impossible for Team Obama to fudge after 43 consecutive months where 8% or more of the population has been out of work.
The economy in general is so weak that some analysts are beginning to wonder whether the recession ever really ended. One of them is Louis Woodhill of the conservative Club for Growth, who asks at Real Clear Markets, “What do President Obama’s economic recovery and a unicorn have in common? They are both mythical creatures.”
Woodhill goes so far as to reject the BLS jobs reports (the reports that like those above “The Employment Situation”) in favor of the bureau’s “Household Survey” numbers, which he notes are “more statistically sound,” adding that “July’s were truly awful”:
The number of Americans with jobs actually fell by 195,000 in July. The number of people officially counted as unemployed went up by 45,000, and the ‘headline’ unemployment rate rose from 8.2% in June to 8.3% in July.
However, these numbers don’t express how bad July really was. Even though the working age population increased by almost 200,000, the labor force fell by 150,000, as more people gave up on finding jobs. If the labor force participation rate had been the same in July as it was during George Bush’s last month in office, the unemployment rate would have been reported at 11.2%, rather than 8.3%.
The U.S., Woodhill glumly observes, moved 324,000 jobs father away in July from full employment, which is now 2.8 million jobs more distant than when Obama’s so-called “recovery” began.
Americans can wake up to the realities that the economy teeters more precariously than ever on the brink of the abyss. Or they can re-elect Barack Obama and hope that the fall, though painful, will be quick.
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