It’s an Obama World Long Term Unemployment at Highest Level Since WWII

[Doc91678]

by Jim Hoft
January 13, 2013

When America reelected Barack Obama they voted for higher unemployment, lower incomes, record government spending, and a stagnant under-performing economy. Barack Obama promises to bring even more pain his second term. In the US today:
12 million Americans remain unemployed.
In December 22.6 million Americans were unemployed or underemployed.
The average unemployed American is out of work for nearly 40 weeks.

To understand just how bad things are, and just what a failure Obama’s first term has been, you have to see it graphically.

…​

Continue reading →
It’s an Obama World… Long Term Unemployment at Highest Level Since WWII | The Gateway Pundit

 

[pinqy]

by Jim Hoft
January 13, 2013

When America reelected Barack Obama they voted for higher unemployment, lower incomes, record government spending, and a stagnant under-performing economy. Barack Obama promises to bring even more pain his second term. In the US today:
12 million Americans remain unemployed.
In December 22.6 million Americans were unemployed or underemployed.
The average unemployed American is out of work for nearly 40 weeks.

To understand just how bad things are, and just what a failure Obama’s first term has been, you have to see it graphically.

…​

Continue reading →
It’s an Obama World… Long Term Unemployment at Highest Level Since WWII | The Gateway Pundit

The chart is a little misleading as it uses the mean. If you followed the Special Notices, you would have read that

Effective with data for January 2011, the Current Population Survey (CPS) was modified to allow respondents to report longer durations of unemployment. Prior to that time, the CPS accepted unemployment durations of up to 2 years; any response of unemployment duration greater than this was entered as 2 years. Starting with data for January 2011, respondents were able to report unemployment durations of up to 5 years. This change affected estimates of average (mean) duration of unemployment. The change did not affect the estimate of the number of unemployed persons and did not affect other data series on the duration of unemployment.

So basically, until 2011, any unemployment greater than 2 years was recorded as 2 years and the actual duration was not recorded. Since then, the actual number, up to 5, has been recorded. This really only affects the mean.

If you look at the median instead, while still bad, you lose the dramatic increase you get from the mean.

 

[Mr. Shaman]

by Jim Hoft
January 13, 2013

When America reelected Barack Obama they voted for higher unemployment, lower incomes, record government spending, and a stagnant under-performing economy. Barack Obama promises to bring even more pain his second term. In the US today:
12 million Americans remain unemployed.
In December 22.6 million Americans were unemployed or underemployed.
The average unemployed American is out of work for nearly 40 weeks.

To understand just how bad things are, and just what a failure Obama’s first term has been, you have to see it graphically.

…​

Continue reading →
It’s an Obama World… Long Term Unemployment at Highest Level Since WWII | The Gateway Pundit

New, here, are you???

Catch-UP!!!!!!

 

[SniperFire]