Monday, July 02, 2012

Unemployment Race

The political "scientists" (read, morons who couldn't do long division) like to point out that Reagan while rounding about his first term had horrible polls, and thus use this as conclusive proof that Obama will get re-elected.  That of course assumes Obama would have the same track record as Reagan in terms of not just lowering unemployment, but as quickly as Reagan did (which he hasn't).

And don't get me started about youth unemployment and how they're abandoning this socialist, elitist Harvard preppy in droves.


PeppermintPanda said...

Unemployment is a poor measure ... The employment to population ratio is a far better metric.

In 1983, the employment to population ratio bottomed out at (roughly) 56% and then steadily climed to 62% in 1990; and this represents a 10% increase in employment above population growth.

While the employment to population bottomed out after 2 years in office for Obama (like it did for Regan) it has bumped along at the bottom for the past 2 years; and (realistically) will likely fall further if there is another shock to the economy.

If Obama gets re-elected, and if (realistically when) the Eurozone begins to collapse, I would expect the Employment to population ratio to continue to fall but not see substantial increases in the unemployment statistics; because the increase will be people who "leave the workforce"

Jim said...

Reagan inspired pride in America. Obama inspires apathy because we are Americans. That's the difference between the two.

Joe Blough said...

The youth abandoning the socialist, elitist Harvard preppy in droves, sounds like a good thing.