Citing consecutive months of job growth, DNC Chairwoman Deborah Wasserman-Schultz says her party is “happy” with job growth in America.
Wasserman-Schultz is certainly correct when she cites consecutive months of job growth. The problem is that, while the economy has been adding jobs, it hasn’t been adding them fast enough to keep up with population growth. The only reason we haven’t been going backward on the national unemployment rate is because the labor pool has been shrinking as Americans give up looking for jobs and fall out of the statistical set used to calculate the unemployment rate.
The unemployment rate only counts those who are employed or looking for a job. If you stop looking, you’re no longer counted.
Democrats can’t really be “happy” about that.