Obama Regime: Unemployment Falls to 5.9% As Payrolls Jump By 248,000?

by JASmius



And when I poop, out plops more bacon:

U.S. employers stepped up hiring in September and the jobless rate fell to a six-year low....

Friday's report on hiring is the most significant gauge of the economy's health ahead of November 4th congressional elections.

They hope.

While President Barack Obama's message of an improving economy has been hampered by persistent drops in family incomes under his watch, the hiring data underscored the strides made in the labor market this year....

U.S. non-farm payrolls rose by 248,000 last month and the jobless rate fell to 5.9%, two-tenths of a point below its level a month earlier and the lowest since July 2008, the Labor Department said. The results showed a stronger labor market than analysts had anticipated.....

And when the last American job has disappeared, Barack Obama will stride triumphantly before the podium and declare that we have full employment.

But enough with malevolent Obamunist propaganda wet dreams.  How about some reality?:

The Labor Department on Friday is expected to report the economy added about 215,000 jobs in September, about half of what is needed each month to bring unemployment down to pre-financial crisis levels.

The "official" unemployment rate is 6.1%, but that hardly provides a fair description of the jobs crisis.

Not counted are prime working-age adults who have quit looking for a job, part-time workers who want full-time positions, and young college graduates who have enrolled in graduate school because they can’t find decent employment.

The real jobless rate is likely closer to 20%, and the root cause is slow economic growth.

Or, rather, NO economic growth.  A second Great Depression.  Wanna know why?  Because Barack Obama won't permit it:

Washington has chosen to outsource — not reduce — environmental risks associated with petroleum development by prohibiting or curtailing production off the Atlantic, Pacific and Gulf Coasts and in Alaska.

Safely developing those resources, along with prudent conservation, would slash oil imports to zero and create millions of jobs.

U.S. business regulations are more costly than necessary to protect consumers and accomplish environmental goals. Along with U.S. efforts to curtail CO2 emissions, while China, India and others refuse to do the same, those send American jobs to Asia.

The U.S. corporate tax is among the highest in the world. Along with arbitrary taxes on overseas profits, high rates motivate U.S. businesses to relocate abroad and discourage foreign investment in the United States.

Whereas deregulation was the theme of the Reagan-Clinton era, today’s leaders appear not to value a vibrant private sector and spirited competition. They offer special privileges that permit Wall Street banks, cable companies, medical insurers and rural hospitals, pharmaceutical companies, and the like to monopolize markets and gouge customers in exchange for big campaign contributions and lucrative jobs after public officials leave office.

This corruption breeds inefficiency, limits production and innovation, and kills jobs.

In recent decades, we have seen a substantial expansion of public benefits that discourage work through the Earned Income Tax Credit, Social Security disabilities program, Medicare drug benefits, Medicaid, Obamacare, and student grants and loans.

And the punchline?:

Thanks to the combination of work disincentives and poor career training, nearly all the jobs created in this century have gone to immigrants.

All of this was common knowledge two years ago, and a majority of American voters chose (at least) four more years of it.  What will American voters choose four weeks from next Tuesday?  Probably more of the same.

That's what happens when you're brainwashed to believe that your poop tastes like bacon.