by Wynton Hall 8 Sep 2012, 2:23 PM PDT 153 post a comment
Beneath the surface of Friday’s jobs report lies the reality of just how disastrous the Obama economy truly is.
Consider the following 11 economic facts:
1. When you include the underutilized labor figure with the eight million Americans who have lost hope altogether and stopped looking for a job, real unemployment now stands at just under 19 percent.
2. If the labor force were the same as when President Obama took office in January 2009, the unemployment rate reported on Friday would be 11.2 percent.
3. A record 88,921,000 Americans are no longer in the labor force. To be included in that figure, an individual must be over 16 years of age, a civilian, not in a mental hospital or nursing home, and have stopped hunting for a job for at least four weeks.
4. The average American lost 40 percent of their wealth from 2007 to 2010.
5. Every fifth man in America is out of work.
6. One out of two Americans are now low-income or below the poverty line.
7. Over the past four years, 400,000 food stamp recipients a month have been added to the welfare dole.
8. In 2006-2007, 90 percent of college graduates landed jobs. Under Obama, just 56 percent find work after college.
9. A gallon of gasoline cost $1.84 when Obama entered office. Today, a gallon of gas costs $3.77.
10. Every fourth home mortgage in America is underwater.
11. Under Obama, healthcare costs have skyrocketed 18.9 percent.
The latest Gallup tracking poll shows Mr. Obama leading Republican challenger Mitt Romney 49 to 45 percent.