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Unemployment Rates and Correlations

I’ve been sifting through raw government data again this evening. I know, bad Torpeo!  I wanted to capture three facts that will not fit the Obama 2012 narrative very well.  The Average Unemployment Rate between 1970 and May 2012 has been 6.4%.  The average unemployment rate under the George W. Bush administration was 5.3%, and includes the Fall months in 2008 when the unemployment rate began to rise.  Incidentally the average unemployment rate in 2008 was 5.8.  The average unemployment rate under the Obama administration has been 9.2%.

2009 average: 9.3%
2010 average: 9.6%
2011 average: 9.0%
2012 average: 8.2%

All of the rates were calculated from the official U-3 figures, which are misleading as I recounted yesterday.  But that being said, they’re the official rates and so I’ve used them.  All of this is terribly bad news for President Obama.  I don’t recall President Reagan ever complaining how he inherited a bad economy from President Carter, but I do remember him taking us through a terrible recession that had an extended period of even higher unemployment than President Obama and the United States have experienced here.  Under President Reagan the country experienced 10 strait months of unemployment over 10%.  Even then he didn’t complain about President Carter, which points to two certain correlations.  First, President Obama is a whiner.  Second, President Obama is no President Reagan.

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