Every day we hear politicians cite numbers and statistics that support their positions, but how can the same numbers be worked to support either side? Its all in the math, and choosing your data wisely.
This is why I enjoy charts and graphs. They are great for seeing through the rhetoric and shedding light on overall trends. This particular chart? Stunning.
The Obama administration claims that they have created 4.5 million jobs. We heard it over and over during the Democrat National Convention. But is it true? If you look at the total number of people working in the United States, it has fallen 2.3% since the recession began. Many people have just stopped looking for jobs. They have given up. Those people are not included in the current 8.1% unemployment rate.
Labor force participation is at 63.5 percent, its lowest level (excluding 2012) since 1981. In other words, a large chunk of Americans have simply given up looking for work. A significant number are collecting disability insurance instead, according to new research from Heritage’s James Sherk.
The labor force participation figures mean that the 8.1 percent unemployment rate also understates troubles in the job market. According to the American Enterprise Institute’s James Pethokoukis, that rate would be more than 10 percent if the labor force were the same size it was when Obama took office.