James Pethokoukis reports on the latest jobs report at The American Enterprise blog. The numbers show a continuing decline in the labor force participation rate. People all across the country are still dropping out of the work force and giving up on finding employment. The official unemployment number is down a bit, but only because of these drop-outs from the work force. If we included all of the people who have given up, the unemployment rate would be above 11%. And it turns out that The Obama-Fuhrer apparently knew about these numbers before he gave his big convention speech. This may explain why the speech sounded like he was phoning it it. He, and the Democrats, know just how crappy things are and are in full panic mode trying to think of ways to hide the collapse from the American people at least until after the election.
