WEDNESDAY, JUNE 8, 2016

Obama’s Bogus 4.7% Unemployment Rate

President Obama gave a speech in Elkhart, Indiana touting the success of his policies. Who do you think deserves the credit?

Whistleblower Business Editor Merrill Forbes wonders if anybody saw Obama’s lousy jobs report last week. Only 38,000 jobs were created last month, the lowest number in years, and much lower than the 150,000 expected.

And a record 94,708,000 Americans were NOT IN THE LABOR FORCE in May — 664,000 more than in April — and the labor force participation rate dropped two-tenths of a point to 62.6%, near its 38-year low, the Labor Department’s Bureau of Labor Statistics reported on Friday.

Underscoring that report’s weakness, employers hired 59,000 fewer workers in March and April than previously reported. So while Obama’s Bogus Unemployment Rate fell three-tenths of a percentage point to 4.7% in May, the lowest level since November 2007, that was because 458,000 Americans had stopped looking for work.

Whistleblower Indiana Bureau Chief Hoosier Daddy says last week in Elkhart, Indiana, Obama got The Whistleblower’s Liberal Liar Award when he tried to claim “By almost every economic measures, America is better off than when I came here at the beginning of my presidency.”

Whistleblower Pollster Ron Rasmussen says there’s no way that’s true, since polls show that three-quarters of the public think the country is going in the wrong direction. And employment statistics in particular have a habit of eclipsing the real story. As any worker will tell you, it is not the number of jobs that matters most, but what kind of jobs are available, what they pay, and how that pay measures against the cost of living. Obama’s 4.7% unemployment rate is hiding the devastating story of underemployment, wage loss, and precariousness that defines life for millions of Americans. Maybe Donald Trump will bring up some of that stuff during the next 153 days.

The Blower hopes you’re fed up with Obama and his establishment cronies running our economy into the ground: Liberals just doesn’t realize that we can’t tax and spend our way back to economic prosperity. Right now, our real unemployment rate is still near 10%, families’ take-home pay has not risen for at least a decade, 95 million Americans over the age of 16 are not working, and our college graduates have been saddled with $1 trillion of student loan debt. And America has one person to thank for it, and that’s Obama. Obama can add Unemployment in America to his Legacy. He’s certainly earned it.