Good Luck Being Unemployed Under Obama

Thirty-six weeks. That's the average time an unemployed American is out of work in the Obama-led economy, according to the latest government data. For anyone who has been jobless for an extended duration of time, nine months seems like an eternity. But, nine months is the norm in the Obama economy. The latest data from the Department of Labor show the nation's unemployment rate stands at 7.5%. The Obama Administration and Obama backers are quick to point out that this rate is the lowest of his presidency. However, the deeper we dig into the state of the unemployed under Obama, the more frightening the picture. Take those labeled as "long-term unemployed", defined as anyone without a job for 27 weeks or more. When Barack Obama took office in January 2009, the long-term unemployment rate stood at 22.6%. By January 2010, one year into the Obama economy, the rate had catapulted to 41.6%. That's a better than four-fifths jump during his first year in the White House. Suppose...(Read Full Post)