Home » Opinion » Editorials
The Obama economy: It is dreadful
On Friday, the Labor Department reported that a dismal 88,000 jobs were created in March. That figure might be revised upward later, as previous jobs numbers have been. But there is no mistaking how bad it was. Even The New York Times offered no positive spin.
The Times reported that the unemployment rate was declining because more of the unemployed are giving up entirely. It even pointed out that "(r)elatively low-wage sectors like food services and retail have accounted for a large share of the job growth in the last few years."
The labor participation rate is 63.3 percent, the lowest it has been since 1979. The year after that was the year the nation rejected Jimmy Carter in a landslide for a President named Reagan, who offered a way out of the malaise. Yet today we accept high unemployment and snail's-pace growth in part because Reagan's party continues to be outmaneuvered by a President constitutionally incapable of governing, but born to campaign.
This is not the Bush economy. It is, as Obama said it would be by now, the Obama economy. And it is a dreadful one. Under him, it is likely to remain that way for years to come.
READER COMMENTS: 0
- Comedian Joan Rivers dead at age 81 says daughter - 0
- U.S. says Islamic State video of journalist's killing is authentic - 0
- No paper on Monday; check UnionLeader.com for updated, breaking news - 0
- Concord attorney Leahy dies - 0
- Robin Williams’ ashes are scattered in San Francisco Bay - 0
- Syracuse, Iowa crowned top party schools - 0
- Parking fines cause disputes, raise revenues - 1
- Jon Cavaiani dies at 70; desperate stand in '71 led to Medal of Honor - 0
- Meriam Ibrahim, family welcomed as long journey ends in Manchester - 2
READER COMMENTS: 0
- Body of woman found under Claremont bridge - 0
- Woman sentenced to a year in jail for crash - 0
- New tech course open to students in Londonderry - 0
- UPDATED: Nashua man accused of beating girlfriend - 0
- Developer granted permit for wind tower in Alexandria - 0
- Manchester Crimewatch: Man faces charge of simple assault against son’s mother - 0
- NHIAA Boys' Soccer: Bedford, Concord deadlock - 0
- NHIAA Boys' Soccer: Central shows title mettle - 0
- Dave D'onofrio Patriots Notebook: Don't expect Patriots to fix this - 0
Hillary Clinton to join Shaheen fundraiser
State surplus isn't big enough
Weare police sergeant's firing rescinded
Planned Parenthood endorses Hassan
By the horn: Feds owe NH man an explanation