Obamanomics: Private Sector Only Recovered Three Eighths of Jobs Lost


If you have a job, thank your lucky stars. In the United States, only three eighths of private employment jobs have been recovered since the 2008 crash. The Beacon has the scoop:

The most recently reported data on private nonfarm employment, for January 2012, show that employment has indeed continued its recovery. Since reaching its current-recession trough about two years ago, it has increased by about 3 million persons. Before starting a celebration, however, we should recognize that private nonfarm employment is still about 5 million persons less than it was at its pre-recession peak in 2008.

Moreover, such private employment is currently more than a million persons less than it was in December 2000, more than eleven years ago, on the eve of the dot-com bust. So, at this point, we have suffered more than the proverbial “lost decade” in the private labor market—the one in which employees are hired to produce goods and services that consumers and investors have demonstrated they actually value (or for which producers are convinced that such demand will be forthcoming).

Read the whole thing, and look at the chart. That’s Obamanomics for you – they don’t factor in things like the production of goods and services that consumers and investors value. They believe they can determine what we value and use our tax dollars to produce it. Think Solyndra, or Chevy Volts, or trains, or any of their other harebrained schemes.

In somewhat related news, I read in the newspaper (no link available) that manufacturers can’t find enough skilled workers. Maybe if the politicians and educators stopped pushing every kid to go to college rather than technical schools we wouldn’t be seeing that problem.

Via Instapundit