Investor’s Business Daily reported:
January’s labor report confirmed yet another month with over 100 million Americans not working. In fact, more than 100 million Americans have not been working in Obama’s workers’ paradise for all of 2012 and 2013, a unique achievement in American history.
White House spokesman James Carney hailed this as a milestone on the path toward the ultimate complete liberation of the American worker from the drudgery of work.
The 101.7 million Americans not working in January reflected the employment-population ratio for the month of 58.8%, compared to — to put it in proper perspective — 62% in a good year. By the fifth year of Reagan’s recovery, the employment population ratio was up to 61.5%, on its way to 63.0% in 1989. That represented an increase of 17 million jobs since the Carter recession started.
Today, after five years of Obama as president, we still have not recovered the jobs lost since the latest recession began in December 2007. The economy then was employing 146.273 million Americans.
More than six years later, in January 2014, the number of Americans employed was still only 145.244 million, or about 1 million fewer jobs. By now in the normal recovery there would be 6 million more jobs.
Obama is not the only president to be challenged by a recession while in office. Since the Great Depression, there have been 10 other recessions before this last one. On average, all the jobs lost in those recessions were recovered within two years after the recession started.
Read the rest here.