{"id":7403,"date":"2014-01-10T11:27:30","date_gmt":"2014-01-10T15:27:30","guid":{"rendered":"http:\/\/ncdata.wpengine.com\/?p=7403"},"modified":"2017-09-26T17:18:06","modified_gmt":"2017-09-26T21:18:06","slug":"about-those-december-jobs-numbers","status":"publish","type":"post","link":"https:\/\/nationalcenter.org\/ncppr\/2014\/01\/10\/about-those-december-jobs-numbers\/","title":{"rendered":"About Those December Jobs Numbers\u2026"},"content":{"rendered":"

Even though only a meager number of jobs were created during the month of December and workforce participation fell, the federal Bureau of Labor Statistics nonetheless says the official unemployment rate actually dropped at the end of 2013 to 6.7 percent<\/a>.<\/p>\n

Go figure.<\/p>\n

\"P21DerryckGreen\"Project 21<\/a> member Derryck Green<\/a>, in his monthly \u201cAbout Those Jobs Numbers\u2026\u201d report that always follows the government\u2019s unemployment announcement, figures there is no reason to celebrate the Obama Administration\u2019s math.\u00a0 He still sees tough economic times ahead in 2014:<\/p>\n

Though it\u2019s a brand new year, it appears it\u2019s the same old story when it relates to jobs and the economy.<\/p>\n

Unemployment, it would seem from the government\u2019s press release, slightly dipped to 6.7 percent<\/a>.<\/p>\n

One thing that\u2019s for certain, regardless of the lower December unemployment rate, is that it isn\u2019t the result of enough jobs being created but more likely because more Americans are underworked or giving up hopes of ever finding work.\u00a0 That\u2019s evidenced by the 2.4 million people<\/a> considered to be only \u201cmarginally attached\u201d to the labor force.<\/p>\n

Despite the jobless rate dropping a reported three-tenths of a percentage point, only 74,000 jobs were actually created in December.\u00a0 That\u2019s opposed to 203,000 jobs<\/a> created in November.\u00a0 Expectations were much higher.\u00a0 It\u2019s not even enough for these new workers to replace the natural workforce attrition rate.<\/p>\n

This is the soft underbelly to any claim by the President\u2019s supporters that the economy has turned a corner under Barack Obama\u2019s leadership.<\/p>\n

For November and December, the \u201cU-6\u201d jobless rate that measures all of those out of work \u2014 including those who are underemployed and able but discouraged dropouts from the workforce \u2014 held stable at 13.1 percent<\/a>.\u00a0 Also, the workforce participation rate fell two-tenths of a percent (but not in a good way).\u00a0 Now, that rate is only 62.8 percent<\/a> \u2014 a figure that hasn\u2019t been so low since the Carter Administration.<\/p>\n

And, while the official jobless rate is an allegedly better 6.7 percent, the President\u2019s key constituencies continue to suffer at a much higher rate.\u00a0 Black unemployment, for instance, is 11.9 percent<\/a> and black teen unemployment is a staggering 35.5 percent<\/a>.\u00a0 Hispanic unemployment is at 8.3 percent<\/a>.\u00a0 According to the Bureau of Labor Statistics, these demographics \u201cshowed little change\u201d<\/a> while the overall rate fell.<\/p>\n

There are several other indicators that demonstrate the American economy continues to be held captive by Obama\u2019s economic ineptitude:<\/p>\n