Monday, February 8, 2016

Sub 5% U.S. #UnemploymentRate and Political Victory Laps Frustrating the Public

News
Why doesn't sub 5% U.S. unemployment feel better (chart)? The real economy, mostly market based rather than government trends that ignore political victory laps, continues to show contraction. Contraction, a trend that eludes the majority that generally believes the US economy remains on solid footing, increases the odds of an officially-recognized recession in the United States in 2016. The majority, a day late and dollar short in terms of timing, will panic only after economic reality completely invalidates their beliefs. The turbulent 2016 Presidential election, a modified version of a reality show based on sound bites rather meaningful dialog, suggests the public is growing tired of political victory laps that don't translate into their lives.

Chart


Headline: Why doesn't 4.9% unemployment feel great?

The U.S. unemployment rate just fell below 5% for the first time since 2008. Normally, this would merit a celebration. But these aren't normal times.

The economy is better than it was in the Great Recession, but not even President Obama is ready to declare it's booming.

In a special speech Friday touting the job gains during his presidency, Obama admitted there's more "to tackle."


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