raymor

It could drop, or it could triple. Obama said that if unemployment is over 8% in 2012, he shouldn't be re-elected. Headline unemployment is 8.5% and real unemployment is about 14%. According to HIM, then, he shouldn't be re-elected.

It's a lot worse than the headline number suggests, of course. As Howard Bono explains:

1. Last year our population grew by 1,695,000, yet the labor force grew by only 274,000. That means 1,421,000 people who gave up looking for work aren't counted in the headline unemployment number.

2. Since 2008 our labor force (the number of people counted as able to work) has shrunk by over 1 million people. How does that happen if our population grows at almost 2 million people per year. Shouldn't the work force have grown by at least 4 or 5 million people in those three years?

I agree with Obama on this. He said he shouldn't be re-elected if unemployment is this high. I agree with him.

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