Numbers Tell the Story

Investor’s Business Daily referenced this post in one of their editorials.

Numbers tell the story. Since Obama entered office promising a jobs boom from his “stimulus,” the economy has lost 1.6 million jobs. Since the employment peak in early 2008, 5.2 million jobs have disappeared.

Labor participation rates have plunged in recent years, in part due to retirements, but mostly due to people just dropping out — they can’t find jobs at all.

Today, a record 100.5 million Americans older than 16 don’t have jobs, up 34% since 2000. As Eddy Elfenbein, editor of the Crossing Wall Street blog, notes, “If we were to have the same jobs-to-population ratio as 12 years ago, there would have to be 14.6 million more jobs, or 22.6 million fewer people.”

That’s the scale of the damage done to our economy.

Posted by on April 10th, 2012 at 8:15 am


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