Welcome to Obamanomics

Today’s unemployment decrease is explained over at The Patriot Post (emphasis added):

November employment numbers are out today and they bring mixed news. Bloomberg reports, “The jobless rate declined to 8.6 percent, the lowest since March 2009, from 9 percent, Labor Department figures showed today in Washington. Payrolls climbed 120,000, with more than half the hiring coming from retailers and temporary help agencies, after a revised 100,000 rise in October.” Seems like good news. Unfortunately, part of the reason is that 315,000 Americans left the workforce altogether. Another part is that retailers have hired seasonal help.

Bloomberg also notes, “The so-called underemployment rate — which includes part- time workers who’d prefer a full-time position and people who want work but have given up looking — decreased to 15.6 percent from 16.2 percent.” Furthermore, “The jobless rate has exceeded 8 percent since February 2009, the longest stretch of such levels of unemployment since monthly records began in 1948.” This long after the recession supposedly ended, things should be looking much brighter than this. Welcome to Obamanomics.