The August 2012 jobs report is out from the Bureau of Labor Statistics and shows another month of anemic job growth. Only 96,000 jobs were created, well short of the predicted 130,000 economists were expecting. Yet, the Labor Department lowered the national unemployment rate from 8.3% down to 8.1% due to some 368,000 workers leaving the labor force. The Labor Participation Rate now stands at 63.5%, the lowest since 1981. On top of that, the previous two months of job reports were revised, losing another 41,000 jobs which the BLS thought were created. Once again, it must be pointed out that if one used the same labor participation number from when Barack Obama first took office, the actual unemployment rate would be over 11%.

august 2012 jobs report

So we have yet another month of dismal economic news to tag Obama with, proving that his policies are a failure. What might hurt Obama even more are the latest revelations from the upcoming book by Bob Woodward, ″The Price of Politics.″ We get an inside look at the early days of the Obama administration and how inept and incompetent Obama and his advisers were. How it was Obama who slammed the door on Republicans, creating a hostile environment on Capitol Hill. How Obama was even annoying fellow Democrat Nancy Pelosi, who put Obama on mute as he droned on the telephone in his typical Castro-like fashion.

No, today′s release of the August 2012 jobs report will not help Barack Obama. Even though the Bureau of Labor Statistics lowered the national unemployment rate from 8.3% to 8.1%, we see that the BLS is just playing fast and loose with the numbers again. The Labor Department reports that only 96,000 jobs were created and that the previous two months were revised downward by another 41,000 jobs. Only by arbitrarily reducing the size of the Labor Participation Rate by 368,000 people do we get a lower unemployment rate. The actual unemployment rate should be at 11%, a ghastly number that proves Obama does not deserve reelection.