A sharp 0.3% drop in the unemployment rate breathes new life
in a presidential campaign that tripped over its own feet a couple of nights
ago with an absentee presidential debater and a milquetoast debate moderator.
The September unemployment report reveals that the jobless
rate fell to 7.8%, which is under 8% for the first time since the Bush-Inspired
Great Recession of 2008.
Eight percent has been used as a mile marker since the Obama
stimulus package was passed.
This is good news for America and good news for business
that has doubted a full recovery that will bring customers back to the markets.
And that is why, I guess, Mitt Romney is dismissing the whole thing as being
much worse than it appears. It is bad for his campaign that has touted Romney’s
business acumen with the notion that only Romney knows how to change the
unemployment numbers.
Obama, the community organizer, couldn’t have a clue on how
to create jobs. That’s what business leaders do.
And in a sense, Romney is correct. In a sense. As the CEO of
Bain Capital Mitt Romney is responsible for amazing changes in employment
numbers as corporation after corporation that his company took over either went
belly up and sold off for scrap or went overseas. Both of which changed the unemployment
numbers.
Upward.
Mitt Romney says that the unemployment numbers are down
because an increasing number of people are simply not looking for work anymore.
That’s an amazing way to self-promote and at the same time deflate the news –
the good news of lower jobless rates is actually really, really bad news.
But who knows. Maybe Romney is right. He is, after all an
expert in unemployment.
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