Employment situation

I had problems with the blogger account and was not able to sign on until 2:30 this afternoon..

It is a little late for analysis of the employment report, so I’ll just post a couple of charts I had prepared to add this morning. If you go back to old days before the great moderation, when everyone worked on the premise of a four year economic cycle one of the points we all accepted was that Presidents wanted to have their recession in the first year of their term so that it would be forgotten by the time they stood for reelection. The exceptions to this rule were Carter and Bush Sr. and they both lost their reelection bids. But if you look at the Obama record with this analysis in mind his performance has not been out of line with other Presidents.

On the other hand if your major criticism of Obama is that he has acted like a Republican, this chart should just reinforce that view.

The other chart is of the unemployment rate by education and should be self explanatory.