The August Jobs Report for 2013 is out and the shills in the Labor Department for Barack Obama have declared that the U-3 unemployment rate has dropped to 7.3%. Sounds good, eh? Not so fast, Binky! My favorite number, the Labor Force Participation Rate also fell to 63.2%, the lowest in 35 years! While only 152,000 jobs were created in the private sector, more than 300,000 people have given up looking for work. If the numbers were not bad enough for August, the jobs numbers for July were also revised, downward to only 104,000 new private sector jobs, not the 162,000 reported. Oops! As in July, most of the new jobs, about three-quarters of them, were part-time jobs and over 60% are considered ′low-wage′ jobs, usually in the hospitality industry where tip money is vital. There was no job growth in the all-important construction industry and declines in the IT and non-durable manufacturing sectors. Even with all the bad numbers, the Bureau of Labor Statistics continues to paint a happy face on our lack-luster economy.

august jobs report 2013

So, the bottom line is simple. Given the percentage of population working, the actual U-3 unemployment rate is more than 12% if you counted the what the state of the work force was back when Obama first took office. Job growth is still anemic as is GDP growth with 2013 shaping up to be another year of a less than 2% increase. Depression, recession, stagnation, it all amounts to the same thing. Obama is still doing nothing to improve the economy. Needless to say, when the September numbers come out next month, I′m certain that whatever happy-slappy news we had this month will be revised downward, too!

Some of my critics have been pestering me about the declining Labor Force Participation Rate. One chap even suggested that it is a good thing that fewer people are working! Like that should be a national goal. So pardon me as I use yet another analogy from one of my favorite TV shows, ″Bar Rescue″, to explain why the economy sucks so much.

The American economy under Barack Hussein Obama is much like a keg of beer on tap at a temperature of 45 degrees Fahrenheit or higher. As us Jon Taffer fans all know, Bar Science teaches us that when a beer keg is that warm, you only get about 60-70% of the beer bought with the rest coming out of the tap as useless foam. A little head is a good thing, but a lot is bad as it means low profits. Only a stupid bartender, like Obama, would try to save the excess foam and sell it despite of its bad taste and poor quality.

Ideally, one needs to cool a keg of beer at or below 38 degrees Fahrenheit in order to get 90-98% of the beer. This is why Big Jon Taffer will often install new ′Zero-Tap′ systems, keeping the beer temperature at or below 32 degrees. You get a nice, cold, tasty brew with a perfect head of foam, especially if the glass is ′beer-clean′. So, thanks to Obama, our economy is like a warm, stale keg of beer. May as well call it urine and leave for a better pub to satisfy your thirst.

While the Labor Department claims that the U-3 unemployment rate has fallen to 7.3% in the August Jobs Report for 2013, the fact that the Labor Force Participation Rate has fallen to 63.2% means that our economy is getting worse. Only a drunk, too stoned to know any better, would find our economy acceptable. The only good news is for the stock market since this means that the Federal Reverse will probably continue its program of pumping $85 Billion dollars per month into the economy. But for the rest of us average folks, the Obama Depression continues to slither along.