Barack Obama’s Job Recovery … US Economy Adds 74K Jobs in December 2013, Unemployment Rate Falls to 6.7%

BARACK OBAMA … EPIC FAILURE!!!

The Obama jobs recovery is a complete disaster. The DOL reported this morning that 74,000 jobs were added in December. the fewest in three years. Economists were expecting about 193,000 jobs. The unemployment rate fell to 6.7%. Barack Obama will spin this as being some type of great news; however, that is not the case at all. Only 62.8% of the adult population is participating in the labor market, meaning they either have a job or are looking for one. That matches the lowest level since 1978. People have simply just given up looking for work.

DOL: Job Participation Rate

U.S. employers added a scant 74,000 jobs in December, the fewest in three years. The disappointing figure ends 2013 on a weak note and raises questions about whether the job market can sustain its recent gains.

The Labor Department said Friday that the unemployment rate fell from 7 percent in November to 6.7 percent, the lowest level since October 2008. But the drop occurred mostly because many Americans stopped looking for jobs. Once people without jobs stop looking for one, the government no longer counts them as unemployed.

Chart – CNBC

Chart of the Day: The real unemployment rate?

No one has anything good to say about Jobs reports:

• The Politico - Jobs report disappoints
• WAPO - Economy added 74,000 jobs in weak December report; jobless rate down to 6.7%
• Even NPR … Jobless Rate Drops To 6.7 Percent; Only 74,000 Jobs Added