Barack the Mad resurfaced today, desperately trying to spin the horrific April jobs report as “good news.” Even his punch-drunk media defenders gaped in astonishment as this utterly disconnected President traipsed onstage before yet another student audience, this time a high school in Virginia, to proclaim that “after the worst economic crisis since the Great Depression, our businesses have now created over 4.2 million jobs over the last 26 months, and more than one million jobs in the last six months alone.”
There was some job creation last month – a hideously weak 115,000 jobs, far below expectations, and well below the rate necessary to keep up with population growth. Under Obama, the American workforce has contracted to roughly the same size it was in 1981, but the population is 37 percent larger.
The other question, which absolutely nobody in the media seems interested in asking, is: what kind of jobs has Barack Obama been creating? Economics website ZeroHedge, which has been diligently asking that question for a long time, sums up the answer in one hyphenated word: part-time.
Flat income growth in the face of modest job growth is a sign of poor job quality, but today ZeroHedge looked at the April horror show from the BLS and came up with some absolute job numbers:
April confirmed everything we had been warning about: in the month, full time jobs dropped to 114,478,000 from 115,290,000 – an epic drop of 812,000 in full time jobs which was the biggest since… March 2009!
The offset? Why a surge in part-time jobs of course, which increased by 508,000 in the month of April. So while seasonally adjusted, birth/death recasted jobs may have increased by 115,000, the real quality jobs, imploded, which unfortunately is merely a part of a longer-term secular trend as part of the new part-time normal.
I’ve been chiding the media for forgetting all about the “burger flipper jobs” that absolutely obsessed them, back when they were looking for a downside to George Bush’s 4 and 5 percent unemployment rates. They’ve largely given up on trying to defend Obama’s 8-percent-plus unemployment, but they’re still not telling the whole story, because they’re covering up our transformation into a part-time job market. The President would stand behind his teleprompter and gasp like a beached fish if a reporter asked him about this shocking exchange of full-time jobs for part-time employment.
Obama has been gamely trying to turn his unemployment apocalypse into an advantage, muttering dire warnings that unquestioning obedience to his agenda, and unwavering support for his next pork-laden big-spending “jobs bill,” is now mandatory. What kind of Big Government “job creation” program is supposed to reverse a trend from full to part-time employment?
I can give you a great example of one that works the other way. Nobody in the media is quite ready to breathe this word yet, but there is an enormous government program that provides huge incentives for business owners to transition to a part-time work force: ObamaCare.
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