Actually, if you looked at the graph unemployment skyrocketed after 2009 under President Obama. Underemployment also nearly doubled what we saw under President Bush. Show me a graph a with side by side comparison of both administrations that says otherwise. Also take note how the stimulus of 2009 didn't reverse the climb in both these numbers. Why did unemployment go up? In the first two years of Obama's term, Democrats held both houses of Congress. With that Democrats were able to pass Stimulus Bill which didn't create any permanent jobs, Obamacare, his Financial reform bill giving bureaucrats more control of the financial sector (which tightened bank loans to small businesses) without touching Freddie Mac and Fannie Mae the real culprits within the mortgage crisis.
Sources:
Tightening of bank loans
Credit card lending standards keep tightening, Fed report says
Banks tighten credit standards to ward off rise in loan defaults | Inquirer Business
Banks tighten loan standards - Dayton Business Journal
So dispite the drastic increase in unemployment since 2008, you want to focus on the current small percent drop in unemployment around a seasonal holiday, is that it? We couldn't possibly be seeing a drop now because of the drastic influx of temporary imployment, that has never happened in out nation's history I'm sure
It's also interesting how you tout deregulation when throughout President George W. Bush's administration, Democrats opposed . . . yes opposed any restaraints on Fannie Mae and Freddie Mac. You do recall how the housing market that involved these two government giants started this economic domino effect. A result, mind you, from the CRA Act under President Clinton that sited banks investigating into the credit history of a somone's financial background
discriminatory, if it was done to a minority group.
The Trillion-Dollar Bank Shakedown That Bodes Ill for Cities by Howard Husock, City Journal Winter 2000
The entire time line surrounding Fannie Mae and Freddie Mac, and the Democrats refusal for government oversight, is found through this link below.
Archived-Articles: Why the Mortgage Crisis Happened
Dude are you ******* dumb!!!!!!??!?!?
Of course the unemployment rate went up in the first few year of obamas term,
bush left an economy losing 800,000 jobs every month!
Before you can bring the unemployment rate down you have to stop it from skyrocketing in the first place. Blaming obama for an increasing unemployment rate is the same as blame obama for not reversing an 800,000 job/month exodus in a single month. Its wishful thinking driven by people that are already predisposed to dislike obama (sore losers from 2008).
Anyone that that thinks unemployment skyrocketed under obama, and that it isnt the consequence of the pile of shit bush left behind, is a god damn moron.
You are a god damn moron.
This is what happens when you stick to the blame Bush Kool-Aid after 3 years of Obama policies.
Use your head an explain to me in your next post how Obama introducing policies and regulations on banks, making them
tighten up on giving business loans didn't have an negative effect on job creation? You want to talk about increase in job numbers yet
UNDERemployment went up to an average of 18% since Obama became president. In fact Decembers numbers show underemployment at 18.40%.
Underemployment Rate Chart and Data - YCharts
Obviously you don't have a clue to what the term "underemployment" refers to.
Word of the day:
underemployment - A situation in which a worker is employed, but not in the desired capacity, whether in terms of compensation, hours, or level of skill and experience. While not technically unemployed, the underemployed are often competing for available jobs.
(breaking it down in more "simple to understand" terms)
1. Employed only part-time when one needs and desires full-time employment.
2. Inadequately employed, especially employed at a low-paying job that requires less skill or training than one possesses.
3. Not fully or adequately used or employed.
This means that for the last 3 years people have been unable to regain their lost revenue but are working part time, full time if they are lucky enough, earning substancially less. Simply an increase in
job numbers don't mean ANYTHING if they are unable to regain their lost income, without getting TWO jobs to make up for the loss of ONE higher paying job. Are we clear as to what underemployment means, finally? Why has forclosures been going up the last 3 months if these "job numbers" were sufficient enough for them to keep their homes? Are you simply unable to connect the dots, or is "BLAME BUSH" your typical B.S. answer because it's much easier to do?
look at the
underemployment rate from 2001 - 2010
Notice below how underemployment increased and remained high under Obama for the last 3 years, dispite the stimulus, dispite the boasting of
job numbers (worthless if you are having to live with earning a lot less). You have to look at unemployment and UNDERemployment, as well as data showing the length of time people have been out of work for, before you get a clear overall picture of the state of the economy. It's that simple.
Just throwing up job numbers only shows you don't have the slightest CLUE how bad this economy REALLY is, or what an economic "recovery" really means. All the data points to the economy getting worse, not better, dispite all the policies and Obama's government interference tinkering of the private sector.
The state of underemployment (increased) in the years 2010 - 2011:
If you think this current economy is all about Bush and has nothing to do with Obama and his tinkering policies, you are an idiot. Do us a favor, quit drinking the Kool-Aid and get your head back into this little world called "reality".