Pundits Wrong Again: Dismal August Jobs Numbers 'Not Baked In Cake'

Pundits Wrong Again: Dismal August Jobs Numbers 'Not Baked In Cake'

Every time one of these new catastrophic jobs reports comes out, the left-wing media scrambles to immediately spin and downplay the damage the news will do to Obama’s reelection chances. What they always say is that America’s anemic job growth is already “baked in the cake.” And what they mean is that the fact Obama can’t create jobs has already penetrated and been taken into account in the polling and therefore this latest round of horrible news won’t move the polls one way or another.

Putting aside the nauseous fact that these elite pundits talk exactly the same, and like the high school cool kid-wannabes they really are, all latch on to cool news phrases like “already baked into the cake” — that doesn’t mean they’re wrong.

But I’m not sure they’re right this time.  

The news reported in the wake of yesterday’s devastating jobs report was vastly different from previous months. And as a result, what voters are learning about Obama’s failed economy is not good news for President FailureTeleprompter.

Because it’s my job, after the August jobs number were released, I intensely monitored news coverage all across the media spectrum. And it was not only fascinating to watch the corrupt media handed news so bad for Obama they couldn’t spin it in his favor, but I also witnessed the media report a new and vital piece of information to voters — who, by the way, are just now starting to pay attention.

With New Media and Twitter activists watching and ready to pounce should they attempt to spin it any other way, the corrupt media had no choice but to accurately report just how and why the August unemployment rate dropped from 8.3% to 8.1%.

And with that reporting, a new phrase entered America’s collective conscious: “the labor force participation rate.

Last month a staggering number of Americans threw up their hands and gave up looking for  work; 368,000, to be exact. In a word, despondency is the only reason the unemployment rate fell last month.

Because this figure is so glaring, the corrupt media was forced to report the damning fact that hundreds of thousands giving up the look for work is what lowered last month’s unemployment rate. Suddenly, voters who are just now starting to tune into what’s happening, learned for the first time that the “labor participation rate” is not only plummeting but having a counter-intuitive effect on the unemployment number.  

Unemployment hovering above 8% for almost four years is bad enough, but now voters are finally being told that this already unacceptable statistic is artificially low because our job situation is so bad people have moved from not being able to find a job to not even trying.

Many voters also learned for the first time that if the labor participation rate was the same as when Obama took office, the current unemployment rate would be 11.4%. Some even learned that America’s labor participation rate plummeted to 1981 levels — even though the population has increased by somewhere around 80 million since 1980.

Because of yesterday’s jobs report, even the Obama-worshipping media at CNN and MSNBC reported this devastating fact — and by my accounting, reported it for the very first time.

Judging by the polls taken before voters were educated on the “labor participation rate,” it looks as though Obama enjoyed a small two to four point poll-bounce from the Democratic convention.

Let’s see what happens after the seasoning of “the labor participation rate” is added to that already baked cake.

 

Follow  John Nolte on Twitter @NolteNC

                                                                                                                       


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