Total number of jobs lost since Obama took over is still over 3 MILLION

I’ve read a lot of spin recently on how thet gain / loss of employment has actually completely recovered in private sector jobs since Obama has taken office.

Here’s an example of such an article: http://thinkprogress.org/economy/2012/05/04/478368/478368/

While this is great spin for trying to get Obama re-elected, it doesn’t represent reality. The problem with pulling statistics like this (net jobs) is it doesn’t measure the unemployed that fall off the statistics. If you are unemployed, there are two ways the government stops counting you as unemployed. The first is to get a job. The second is to stop getting unemployment insurance. Millions of american’s have run through their unemployment insurance without finding a job, but the “change in employment” data will only see unemployment decrease, not jobs increase.

The MOST ACCURATE way to measure the status of the employed in this country is to use the department of labor statistics measurement of total employed.

You can find this data here: http://www.bls.gov/web/empsit/cpseea01.htm

under “employed”, just look at the number, and add three zero’s to the end to get the total number of employed.

What you will find is in 2008, the last year of statistics before Obama, over 145 million people were employed in this country. As of April of this year, that number is down to 141,865,000, a LOSS of more than three million jobs.

Here’s what the real graph looks like for total American’s with jobs:

What’s worse is the the tail of this graph is starting to head the wrong way again – the total number of employed Americans has GONE DOWN for three straight months.

This implies that “shadow” unemployment is hovering  around 16% which is somewhere between Portugal (on the brink of insolvency) and Greece (insolvent) – neither country removes unemployed from their statistics.

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