Unemployment at 8.5% – 20 Million Remain Unemployed or Underemployed …Update: Actual Unemployment at 10.9%

Barack Obama is the worst jobs president since the Great Depression.

The unemployment rate dropped from 8.6 to 8.5 in December.
20 million remain underemployed or unemployed.
CBS reported:

The Labor Department said that employers added 200,000 jobs in December, lowering the nation’s unemployment rate to 8.5 percent, its lowest point in nearly three years.

Other data show the economy ended the year with some momentum.

Weekly applications for unemployment benefits have fallen to levels last seen more than three years ago. Holiday sales were solid. And November and December were the strongest months of 2011 for U.S. auto sales.

Many businesses say they are ready to step up hiring in early 2012 after seeing stronger consumer confidence and greater demand for their products.

The rate fell from 9 percent in October to 8.6 percent in November, partly because about 300,000 people gave up looking for work. People routinely enter and leave the work force, though 300,000 is more than usual…

…President Obama could face voters in November with the highest unemployment rate of a sitting president seeking election since World War II. Unemployment was 7.8 percent when Mr. Obama took office in January 2009.

2.5 million Americans are marginally attached to labor force.

About 2.5 million persons were marginally attached to the labor force in
December, little different from a year earlier. (The data are not seasonally
adjusted.) These individuals were not in the labor force, wanted and were
available for work, and had looked for a job sometime in the prior 12 months.
They were not counted as unemployed because they had not searched for work in
the 4 weeks preceding the survey.

UPDATE: The actual unemployment rate is actually at 10.9%.
Via Instapundit:
Related: James Pethokoukis: What the plunging unemployment rate really means for Obama’s reelection. “Those headline economic numbers are terribly misleading, hardly reflecting the devastation most Americans still see every day. An 8.5 percent unemployment rate? Please. If the size of the U.S. labor force was as large as it was when Barack Obama took office, the unemployment rate would be 10.9 percent. But since so many people have gotten discouraged and stopped looking for work– and thus disappeared by government statisticians — the jobless number has been artificially depressed. A better gauge of the jobs picture is the broader U-6 rate, which includes part-timers who would rather have full-time jobs. It stands at a whopping 15.2 percent.”

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  • SeniorD

    And how many of those “New Jobs” ended right after the Holidays? Can’t wait for the January numbers, how much of an unemployment increase will we see?

  • JDStone

    It’s all spin.Like #1 says holiday hiring is the reason for the drop in unemployment. The MSM will be singing from the rooftops the depression is over. It is far from over, we aint seen nothing yet.

  • Mark1957

    The numbers are a lie, just like everything else about the Obama regime, the numbers will magicly continue to fall until election day.

  • coolidgerules

    Figures don’t lie, but liars can figure.
    The bullsh*t numbers and figures are going to be twisted and skewed beyond belief for every program or agency. It’s going to be real bad this coming year, and NONE of the mainstream media will challenge the validity of any of the dreck coming from this administration.

    Here comes the top down. Be ready, as there is only so much the American people are going to take.

    The American Revolution was only fought with 10% of the population.

  • juandos

    From the American (online magazine of the American Enterprise Institute) we have the following: Why Unemployment Is Worse Than You Think

  • Thomas

    So we have had three straight years of declining unemployment despite the FACT that there has been zero bills presented from the GOP controlled House that addresses jobs and outright obstructionist tactics from the GOP in general. I would have to say the POTUS and the Dems have done a great job.


    the commie media will do everything they can to geth the POS mooslime re-elected…all numbers are fake

  • Finncrisp

    The job universe has shrunk by 3 million jobs under Obama. When people run out of unemployment, they are purged as no longer seeking employment. The numbers have been skewed since 2009, and now the actual effect is kicking in as people run out of unemployment and have no job.

    Real unemployment is closer to 13-14%; we are being duped by this lying, job killing administration.

  • Espresso Logic – The 6th Sense

    #6 January 6, 2012 at 9:04 am
    Thomas commented:

    Tommy boy, is your family aware of your mental retardation?

  • chuck in st paul

    Next month the December numbers will be revised. Guess which way they’ll go. When the January numbers come out I suspect the word “unexpectedly” will be attached to the report and the numbers won’t be so good.

  • chuck in st paul

    How’s that Kool-Aid taste Tommy?

    The Dhimmeroids controlled the Senate for the last five years, the House for the previous four years before 2011, and the Presidency for the last three years. This is the deepest and longest recession since FDR and for all the same reasons. U6 is still stuck at over 15%.

    And you consider that a triumph?!?

  • No Chuck, the Odumbo administration will LIE about the January numbers just like they LIE about the December numbers…..With the election coming why should they stop. Heck they are all starting to believe in the LIES they have been telling because they have been telling them for so long.
    And they will keep telling them as long as there are Idiots like Thomass out there who keep believing them.

  • James

    But if 200,000 jobs were added, shouldn’t that be evidence that people looking for work and entering the work force increasing. Thus, shouldn’t the unemployment rate be going up because of that. The Dept. of Labor is in full reelect obama mode. Its so pathetic.

  • driguana

    This is the beginning of the “viral lying” initiative of the Obama campaign. The general sentiment is that Obama will win in a landslide…and that’s too bad, but probably correct. The modus operandi of the DNC campaign will be “viral lying”….put out a lie and let it go. Unfortunately, Obama will be immune to this because the MSM will solidly support him. These current unemployment numbers being a case in point….see, the economy is rebounding. The point being that those in the media who really care about truthfulness, transparency and parity really need to step up and do a stellar performance exposing the “real” Obama. One start, right now, will be to show all of Obama’s bundlers from the last election, who they are, how they are related to Wall Street in particular, and what financial and political emoluments they have received to date. This is a critical starting point.

  • Beef

    These numbers are being fudged by the BLS, who keep revising downward the size estimated labor force participation rate in order to get the unemployment number down.

    Even if you believe their numbers, these decreases are not coming from new jobs, but from people dropping out of the labor force.

    Obama’s signature economic achievement has been to get people to give up looking for work.


  • jhump

    So we have had three straight years of declining unemployment despite the FACT that there has been zero bills presented from the GOP controlled House that addresses jobs and outright obstructionist tactics from the GOP in general. I would have to say the POTUS and the Dems have done a great job.

    Too bad your rant is fact free, Tommy. There are actually twenty seven House jobs bills awaiting senate action. Just because the MBM(Make Believe Media) is too corrupt to report it, and you are too ignorant to look it up on the internet, doesn’t mean the bills are nonexistent. I’m amazed that you were able to navigate the website to access the comment section of this blog.

  • jhump

    Tummie, I forgot to mention that the bills were bipartisan, you know, non obstruction-y, unlike Zippy and the Statists.

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  • J Craig

    What a joke. The work force has dropped by over two million since Obama took over. True unemployment is about 16%. If Obama were a Republican you know what the media would say.

    Wait to see how many chains declare bankruptcy now that Xmas is over. Even worse inflation is back. Three years ago I could get a pound of butter for 2.oo now its 4.00 and ground beef went for 2.00 now its 3.40. Tell me there isn’t infation.

    Obama is the anti christ.

  • Freddy

    Obama’s real problem is that those missing 20 million do vote.

  • injunjoe

    Then there is the .5 million he’s going to fire from the military….

  • injunjoe

    tommy, those drugs are really starting to mess you up…

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