Unemployment: Bowyer’s Law
More proof that the only thing the National Review cares about is excusing the failures of the current Administration comes from Fuzzcharts (OK, I’m now stealing Mark Thoma’s phrases):
Let’s call it Bowyer’s Law: The emphasis that the mainstream media give to unemployment while a Republican is in the White House is directly proportional to the rate of unemployment. In other words, if the unemployment rate is very low, then coverage of the unemployment rate will be very low too — that is, when someone like George W. Bush is in power. At a current rate of 4.9 percent, Bowyer’s Law seems to be holding. It’s time for the Bush administration to turn this thing around. We are currently within a hair’s breadth of achieving 5 million new jobs since the president’s tax cuts were fully implemented in May 2003. If we hit it this month, that would mean 5 million jobs in 28 months. When the new jobs numbers are reported four weeks from now, maybe it will be time for the administration to crow a little bit.
Bowyer tops this off with one of his meaningless charts, but this spin does remind me that I’ve been remiss at diagramming the most recent news per the employment-population ratio as well as the labor force participation rate. And yes, both are up a little bit.