Barack Obama is desperate to try to create his lasting legacy and be remembered as one of the most influential presidents this country has seen. While he has mades some record breaking actions that he will be remembered by, they're not exactly the legacy making actions he would have hoped for.

Obama has set an economic record but it's nothing to be applauded. After Obama finished up his final two weeks in office, he will be the first president in America since Herbert Hoover, who was president during the beginning of the Great Depression, to not have a single year as president with 3 percent GDP growth.

Yet Obama insists that he is still responsible for bringing down the unemployment rate below five percent.

The answer lies in the way that unemployment rate can be calculated to present the data in a certain way.

The unemployment rate that we normally see is called the "U-3 unemployment" rate and is calculated by dividing the number of unemployed people into the labor force. To be considered part of the labor force you must not be institutionalized, be above the age of 16, and be "looking for work."

The trick here is the "looking for work" clause. This means that if the economy outlook becomes so pessimistic that people begin to retire early or give up looking for work all together, then they are taken out of the labor force statistics which exaggerates the statistics and skews the information presented.

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When you look at the data and include these people then the pretty picture that Obama tries to paint for you quickly falls apart. The unemployment including marginally attached workers, is even more telling staying at 9.2 percent, which is almost twice as much as the reported 4.7 percent.

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According to Allan B West:

In his final jobs report, 157,000 jobs were added to the U.S. economy – which is barely above the 145,000 jobs our economy needs to produce each month just to keep up with population growth. But throughout his term, those out or the labor force have grown faster than those “employed.”

It's about time this whole charade is put to an end and we actually start working to fix this economy and make America great again instead of just putting up more and more smoke and mirrors. Luckily, Trump has already been hard at work creating jobs and keep jobs in America and he isn't even in office yet.

Please share this on Facebook if you couldn't be happier to see Obama's reign end.

Source: Allen B West

 

 

 
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