Obamanomics: Most Unemployed Unable To Find A Comparable Job

Obviously, this must be the fault of George Bush, Ronald Reagan, Republicans, international issues, tornadoes, tsunamis, earthquakes, and ATMs. Nothing is ever the fault of Obama’s pathetic, uninformed, far left policies based on imaginary economic notions

(Washington Post) Many workers are nervous about their livelihoods despite the economic recovery – and for good reason, it turns out.

Among those workers who lost a good job because of the struggling economy over the past three years, roughly one in four found a job that pays as well, according to data released Friday by the Labor Department.

The others remained unemployed, stopped looking for work or accepted jobs at lower wages.

“This data is telling a story of unemployment inflicting long-term damage for a lot of people,” said Michael Mandel, an economist at the Progressive Policy Institute, a centrist think tank. “This won’t turn around until wages overall start rising – and so far, we haven’t seen any strong signs of that.”

We can argue till we’re blue in the face regarding who/what is to blame for this recession (which officially ended in June, 2009) and the terrible conditions that have persisted ever since: the question to ask is “exactly what have Obama’s policies done to fix it?” In every case, the deeper the recession the stronger the recovery. For most Americans, there has been no recovery. The economy is chugging along like a slug on a pie chart.

The 6.1 million such workers who lost their jobs between 2009 and 2011 were surveyed in January of this year. Of them, roughly 30 percent took jobs that paid less, about 27 percent remained unemployed at the time of the survey and 17 percent stopped looking for work.

Cute puppies and kittens surely are to blame. Obama surely has a super duper wonderful awesome plan that will kick in any day now!

According to a report released this week, incomes have dropped more since the beginning of the recovery than they did during the recession.

Still Bush’s fault? Or the fault of a guy who had no experience in business, never had to hire someone or make a payroll, and has surrounded himself mostly with people whose economic experience was in the classroom, not the boardroom?

Crossed at Pirate’s Cove. Follow me on Twitter @WilliamTeach.

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