Free Republic

January’s Employment Situation Report from Uncle Sam’s Bureau of Labor Statistics (BLS) was even worse than expected. Seasonally adjusted employment fell by 598,000 jobs and the unemployment rate rose to 7.6%. In his Saturday address that followed this news, President Barack Obama was correct in pointing out that 3.6 million jobs have been lost since the recession, at least as “defined” by the National Bureau of Economic Research (NBER), began. The recession, as normal people define it (”a decline in gross domestic product [GDP] for two or more consecutive quarters”), began in the third quarter of 2008 and became official...