The Preezy of the United Steezy, that cool guy Barack O. has sure done a lot for the economy since he took office (at least according to him on Twitter):
Our economy has come a long way over the last four years—and we have more work to do: twitter.com/BarackObama/st…
— Barack Obama (@BarackObama) March 11, 2013
I’m pretty sure his rosy picture of how great everything’s going doesn’t take into account the millions that have dropped out of the workforce since he started our neverending summer of wreckovery. Here’s a chart of that (image courtesy of Marginal Revolution)
As of December, the number of people out of the workforce was over 88 million, which is why the unemployment rate takes the occasional downward tick. However that rate is nearly the same as when Wile E. Obama and his stooges from the ACME Economice Destruction Co. took office.
Confused why the unemployment rate dropped? The same, favorite BLS adjustment – a drop in the labor force participation rate which declined by 0.2% to 63.6% once again, as the number of people out of the labor increased by over 540K to 88,883,000. (ZeroHedge)