While I’m sure Obama and his Democrats will get all excited about the unemployment rate coming in at 9.4% instead of November’s 9.8%, the reality is actually pretty bad, as noted over at Legal Insurrection:
…Dig just a bit deeper, and you will see that 0.2% of that drop (or half the total drop) was from a decrease in the “participation rate” from 64.5 to 64.3 of the population. So half of the good news reflects that people have dropped out of the work force and have given up looking for work…
Go to the link and you’ll see a great chart made of the data – the number of Americans participating in the labor force is way off its peak. If you added those workers back in to the numbers, you’d probably get an unemployment rate of 12% or more.
We’re being sold a bill of goods by the banksters and bureaucrats – trying to convince us that all the borrowing and printing have done their job and we’re on the path to recovery. All of this in preparation for a “please re-elected Obama” campaign; the Ruling Class’ desperate bid to keep themselves at the trough after January 20th, 2013. Don’t buy it – until you see unemployment going down while labor force participation is going up, we’re not getting anywhere.
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