The Patriot Post® · August Jobs Numbers Disappoint

Just when the media was ready to fire off the confetti for another month with more than 200,000 jobs created, the realities of Barack Obama’s “recovery” put a damper on the party. CNBC reports, “Job growth cooled in August, with nonfarm payrolls adding just 142,000 even as the unemployment rate fell to 6.1 percent, according to the Labor Department.” The July headline rate was 6.2%. CNBC notes the reason for the decline: Fewer people in the labor market. “The fall in the headline rate came as labor-force participation fell, declining to 62.8 percent, tying the 2014 bottom and remaining at the lowest level since 1978.” Some 268,000 people left the workforce, and jobs numbers from June and July were revised down by 28,000, as well. On the other hand, the U-6 rate, a broader measure that includes those who have given up looking for a job, fell to 12% from 12.2% in July, and the number of long-term unemployed dropped to its lowest since January 2009. It’s not that the economy isn’t recovering at all, it’s that big government has made the recovery far too slow. More…