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Abysmal jobs report

Barack Obama has promised that 2014 will be “a year of action.” You'd think he'd know better than to make promises to the American people. After all, he doesn't have a good track record of keeping them.

He made this comment while announcing five new Promise Zones, “where citizens, governments, businesses and non-profits will work together to 'remake' communities so more children can grow up to be educated, productive adults,” according to CNS News.

It shouldn't take the government to do that. Any community that wants to survive would naturally make the choices necessary for it to thrive. The problem is that a key pillar for many of these communities – jobs – do not exist. He's putting the cart before the free-market horse.

Did you see the jobs report today? It was absolutely abysmal. Only 74,000 jobs were created in December, well short of the expected 200,000, yet the unemployment rate fell to 6.7%. This is because 347,000 Americans dropped out of the labor force, bringing the labor force participation rate to a paltry 62.8%, which is a level we haven't seen since 1978. Despite what some news outlets may say, this isn't just because of the weather.

According to James Pethokoukis, “If the participation rate had stayed steady the past 12 months, the jobless rate would be 7.9%.” If the labor force participation rate was the same as it was when the recession ended in June 2009, the current unemployment rate would be over 10%. There are now over 90 million Americans no longer in the labor force.

You want to talk about a war on women? “The number of employed women 16 and over declined by 20,000 from November to December and the number of women not in the nation’s labor force hit a record high in December,” according to the Bureau of Labor Statistics and reported by CNS News.

How many more “pivots” back to the economy will Obama perform before he realizes that his policies are failing? His economic recovery has been the worst in recent history, yet don't expect Obama to take responsibility for this fact. To do so would essentially admit the failures of liberal economics. But Obama doesn't have to admit it for it to be true, nor does he have to say it in order for the rest of America to realize that Obama's policies are failing.







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