INVESTOR’S BUSINESS DAILY: High Real Unemployment Data Reflect Poorly On Obama.
Sure, the jobless rate is falling. But according to the Congressional Budget Office, we are going through the longest stretch of high unemployment since the Depression. The rate has been higher than 8% since February 2009, the month after Obama took office.
And, says the CBO, it is expected to stay above 8% through 2014.
Even worse for an administration straining to make the case that it deserves to be around for another four years is the real unemployment rate. It’s not 8.3%, but closer to 15%, a figure that reflects those who “would like to work but have not searched for a job in the past four weeks as well as those who are working part time but would prefer full-time work,” says the CBO.
I believe that’s what the media like to call the non-partisan Congressional Budget Office.