What’s the official take on the February unemployment numbers? Moving in the right direction, but not yet good enough. That’s what you’ll hear Obama say. We added 192,000 non-farm payroll jobs and the official unemployment rate has now dipped to 8.9%. All good stuff, right? Not so fast.
According to the U.S. Census Bureau, the official population count increased 27,323,632 from the year 2000 to 2010. Average that out and you’ll find that over the 120 month, 10 year period, we gained an average of 227,696.93 people per month. Do the math yourself if you wish. The population in the year 2000 was 281,421,906. In 2010, it was 308,745,538.
Any way you slice it, we need at least 227,696 new jobs created each and every month just to keep up with the population expansion rate. That doesn’t include returning the 15 million unemployed to work. That doesn’t include returning the underemployed back to full-time status. That doesn’t include counting the illegal aliens occupying our country.
While nobody is going to complain about any amount of new jobs added and putting Americans back to work, we’ve been singing this same old tune for far too long now. The recession ended 19 months ago. We should be adding several hundred thousand more new jobs each month at this stage. The only reason we aren’t is the policies of the current administration. Period.