In the last six months, 621,000 of the 847,000 new jobs created have been in government, not the private sector, according to CNSNews.com. That's 73% of all jobs — not a healthy labor market.
As for that big "drop" in the unemployment rate, all of it was due to the fact that 540,000 Americans are no longer looking for work. They either dropped out, took early disability or retired. Since the start of 2009, 9.7 million Americans have fallen into this category.
All told, more than 24 million Americans who want jobs don't have them, driving the labor force participation rate to 63.6%, just above August's 31-year low of 63.5%. This is the worst labor market in a recovery ever.
And it may get worse. The quarterly Wells Fargo/Gallup small-business survey found that 21% plan to cut jobs over the next six months — a surge from 10% last June and a record high. (IBD)
The reported food stamp number for September was a doozy, with 607,544 new Americans becoming eligible for food stamps, as a record 47.7 million Americans are now living in poverty at least according to the USDA. The monthly increase was the highest since May 2011, and with August's 421K new impoverished America, over 1 million Americans made the EBT card their new best friend. Those numbers have increased every month since September and now fully one in six of every Americans is receiving food stamps. Rep. Nancy Pelosi (D-CA) said that it helped the economy. I'm sure that you all have your 'free' ObamaPhones but -- Maybe food stamps are your Obama Economic Dividend?
1. “Hey, at least that successful Mormon businessman didn’t win.”
2. “Didn’t your lady parts warn you this would happen?”
3. “Look at the bright side. Gay marriage passed in four states.”
4. “Hey, Big Bird still has a job. Isn’t that the important thing?”
5. “I am sure Obama cares deeply about your situation. Maybe he’ll send you a postcard from Hawaii.”
6. “Well, look at the bright side. Rush Limbaugh is getting a massive tax increase.”
7. “Hey! Now you’ll have more time to play with your unicorn.”
8. “Isn’t it worth losing your job to know that religious organizations now have to pay for abortions and contraceptives?”
9. “Well, now you and Keith Olbermann have something else in common.”